The acid test..A story I have wanted to talk about for a long time. I will do it now and hope that the younger gereration read it...My Dad who is now 86 and cannot see anymore, started investing in the market when us kids were young, small bits into the market each year. He worked on the mines in Zimbabwe, as a compound manager looking after the living conditions and welfare of about 1500 mine employees...He today has a share portfolio today worth more than $1 million...I have to do his weekly update for him as he cannot see or read any more...The main reason he has this wealth is because he never ever sold a share he bought...He could not get to grips with the commission it would cost him for for selling...He has been through about 4 or 5 major major corrections in the market, over the many years, but still held onto his stock. He has about 56 shares in his portfolio...I luckly, have convinced him to only buy STX40's now with the serious dividends he receives from his +50 years in the market.
What the heck is he buying ANY SHARES etc for at his age and stage? At this point a R3000.00 bottle of wine every couple of days sounds like a must have - that with the caviar... I do think you have to approach this with one eye of the particular background of the events over this period. 56 shares - sounds like he has bought the investable market. But 10 /10 for his discipline.