Only an experienced investor who has been trading for fifty-one years could lose almost half their capital in ten days. That’s what I have done and my friends who mistakenly look upon me as a financial guru should take note.
I refer of course to my shares in Rolls Royce, alluded to in a post presciently titled Bottom Picking (follies of). I just cannot learn and I’m sorry if you followed me into the financial mire. I have often written about the risk of investing in individual companies but it seems I am incapable of taking my own advice.
The Times this morning has this short news item:
A temporary ferry service across the Thames could be introduced early next year to carry the thousands of schoolchildren and other pedestrians who have been forced to take lengthy detours since the closure of Hammersmith Bridge in west London. Significant cracks were discovered in the 133-year-old iron structure last year.
All aboard; children and beagles first!
Sarah Perry, author of The Essex Serpent, wrote about the coastline where her novel is set in the WeekendFT. I had reservations about her pastiche of a Victorian novel but, like a bottom picker in the stock market, I have come back for more. Quite a lot more as it runs to more than 1.200 pages. It was published in 1989 so you have probably read it. As I am reading too many books concurrently I feel guilty starting something so very enjoyable and will put it to one side until I have an opportunity to devour it – possibly later this month.
I read the Quincunx when it first dropped heavily onto bedside tables. It is one of those books that has stayed with me over the years. Underrated, unique and, I think, far, far easier to read than to write.
Your apologies were premature. Assuming you kept faith with Boxworth and did not sell the Rolls Royce shares which you had bought for 158p on 22nd September (you didn’t, did you?), you will be sitting on a 40% paper profit. Not bad for 3 weeks!
I did keep faith and I am holding on with white knuckles.