Update December 1999. Reflections of the previous year. 1999 proved to be a difficult time for us due to some mediocre
share selections and a slight failure to react to market pointers. We are
always optimistic that even though share prices are plummeting they are going to recover. NOT !!
We have watched in amazement as some of our early purchases have gone into freefall, never to
recover. This is a costly way to learn. But learn we have, after a fashion. Instead of being reckless
and allowing freefall we now seem to be scared to allow even a slight reduction in price before we
sell. It is not quite panic but we have never been in the fortunate position of purchasing
shares which
actually increase in price so now we sell if we are happy with the profits at that time. Now you must
understand that the word PROFIT has never really entered into our vocabulary
because there never
were any !! Now we find ourselves wallowing in the fact that 2 recent purchases have both
performed extremely well and faired even better after we sold them. The 2 stocks in question
are Forward Technology
and Amstrad. Forward Tech was bought at 18p and sold at 31p. Nice tidy
profit ? Yes of course, but the shares are now valued at 49p !! Similarly Amstrad bought at 102p
and sold at 193p. Again
nice profit but the shares reached 260p after we sold. OK we should be
happy with our lot, but the club would have really shown some profits if we hadn't been so excited at being in front.
Lets hope the new Millenium will
bring us more successes.
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