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this post was submitted on 14 Oct 2024
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Share market seems to be up today - although when the value of your shares has hit rock bottom up is pretty much all that's left! Although my worst performer is just sitting there with it's 87% loss, it's not even worth the cost of selling at this point. I might be able to recoup enough for a sandwich, as long as it's a cheap one from the lunch truck and nothing fancy.
I decided to dip the toes into ETFs last December, using the Superhero app. Mix of Aussie and US, i just add money to my account any month i have any left over to do so, ill put some in savings and some into the ETF account. Probably looking at about 10% increase across the board when i hit the 1 year mark which has been nice. Your worst performer reminds me of much of my crypto, not worth the hassle of trading or withdrawing out!!
I had some fun with penny stocks that dissolved. Legit no idea what happened. Only a few hundred, but I could have used it for plenty of other more enjoyable things.
I think if the company winds up you just lose the money. I also had one company that did a buy-back of small parcels of shares which you had to opt out of if you wanted to keep the shares. Another was bought out by an overseas company - which was actually nice, I made a 50% profit in just over 12 months. I wish I'd bought more than $200 worth of that one!
I've been learning a lot about how the market works, but I definitely prefer funds than individual stocks. But buying a few stocks for $200 has taught me a lot about how everything works. I lost a lot of the value almost straight away, but I have gained most of the losses back over the last couple of years - if things continue as they are I look like I might actually start to make a profit longer term, so things are not as bad as they looked initially.
Seems like I was on a similar trajectory. Penny stocks seemed like a bit of fun, but it definitely an all-consuming learning curve and bit of a circle jerk in some of forums I was reading. I lacked a bit of patience when I was first interested in it. Iโm not much of a gambler, so EFTs have been a pretty safe bet.