Where is a good place to buy shares? Im guessing you have to set up a trading account somewhere? If so what are the fees you pay to have an active account? If i was into shares thats what id be doing and probably trying to find an ETF that shorts the euro
Look around for online trading sites. It can cost anywhere from $5 to $20 a trade, and they keep usually about 1% of your sell price
I use CommSec, no fees when idle, only brokerage fees. Gives 5.5% interest rate too, not too bad if you want to keep your cash ready and still get a decent interest rate.
In terms of mining shares,the small explorers would be cheap. But they depend on capital and if things don't pick up quickly,they would be bad. Large miners who are well capitalised maybe.
If it comes i don't think it will be as bad as 08 crash. A correction yes but China is still chugging along. Guess which sector you are buying into. Still a lot of quality stocks out there at bargain prices. Always good to keep some cash but i think we will have a better 2nd half given that we already had a 2 month dip.
Companies like BHP are fantastic they aren't going anywhere. But at current prices aren't too attractive. If everything copped a real flogging. Getting hold of world beaters like them, RIO, BP, etc on the cheap could prove profitable long term once things turn. I just sold out of all of my shares except for one little specie which is about 5% of my portfolio. Holding cash until some bargains come up. Silver and Gold are on hold also. I added around 300ounces Ag in the last month(including pre order dragons) to start my stack. Rough waters ahead, buying ops will be a plenty me thinks.
geewiz, With the exception of such companies as Coles and Woolies, i would not buy anything but mining companies. And ONLY if they are major companies with proven reserves and proven sales contracts. They will in due course lose sales but the stuff is in the ground waiting to be dug up AFTER the storm breaks and passes. OC
What about companies such as Incitec Pivot (fertiliser for agriculture and explosives for mining) or various healthcare companies - I think these are good bets as well i.e. essentials/companies that support essentials.
I'm sitting on a bundle small cap miners which have had a pasting lately. But I just can't bring myself to liquidate. Its what they call the golden rule. THERES NO ROOM FOR SENTIMENT IN SHARE TRADING. Oh well easy come easy go!
You're basically paraphrasing the (fictional) Gordon Gecko who said, "Don't get emotional about stocks, Bud; clouds your judgment." That 1987 version of 'Wall Street' is full of relevant quotes. Less so the 2010 version; too preachy.
Yep. I've been on "hold" for a while now watching the chaos unfold. When I spend it all, it won't just be on shares of course. GFC2 or bust!
