So I have some Gold, Silver and BTC. I want to also add some shares to my portfolio but it is not something I have much experiance with. I would very much appreciate some advice from some of you who have experiance in this field. Firstly, what is a good platform to start buying shares? Secondly, any good sources of information in terms of what shares are good buys at the moment? Due to the Corona Virus I do believe there are some unqiue opportunities out there at the moment. An example is the aviation industry which has been hit hard by the pandemic but will obviously pick up once the situation starts to improve.
Platform: I use Commsec. I'm only buying small amounts as that's all I can afford, so I purchase tranches of shares under $1000. On Commsec I pay $10/trade, if you go over the $1000 mark you will pay $20 which is ridiculously expensive. There are newer platforms around that are supposed to be cheaper but I haven't explored them. Information: I suggest you start here: https://education.rask.com.au I buy speccies ie penny stocks that I'm hoping to get 500% return or more over time. They're high risk high reward. The key criteria I look to are the management team and the nature of the project ie what are they hoping to do that no one else is doing or that they hope to do better? Read widely, don't be hasty. And remember this if you want to get into the materials/resources sector, particularly the explorers: "A mine is a hole in the ground with a liar standing next to it." Corona: from my understanding of MMT governments around the world are going to have to ramp up spending if we are to maintain our levels of prosperity. So I'm heavy into the materials sector, with exposure to energy stocks as well, especially those involved in the energy transition and a couple of other random stocks. For now: start with a spare change platform like RAIZ until you're ready to make decisions for yourself.
Some excellent advice, thank you, its much appreciated. One question: One of the greatest recessions in our lifetime is expected and has been for some time now. I am in no rush to buy at the moment, should I wait and buy when the market crashes? Also, you mentioned penny stocks, I have always had the perception that they are trash. Are there any examples of such stocks being a success?
Who says? Unfortunately Boorman passed away at the end of 2020 (he was in his 50's!) so unless someone else picks up the ball, we may not see any more updates to his chart. Depends upon your capacity for risk, your investment objectives and your ability to pick stocks to avoid duds. These 3 have been successful for me CHN bought at $0.18 now $4.34, ADN bought at $0.054 now $0.295 and SDV bought $0.125 now $0.795 by way of examples. I've got 16 stocks in my portfolio at the moment, 11 are showing a profit. I'll be adding more as time goes on.
