Q. You speak about success in shares coming from skill, hard work or luck. All great virtues I am sure, but you miss one key essential to all success in this life - timing.
An Australian media magnate with impeccable timing, just as everyone else was still buying up, cashed up all his many assets months before the October 87 share crash.
After selling his TV channe
Thursday, December 2nd 2004, 2:45PM
by The Landlord
l to Alan Bond for $1 billion, he said quietly he would buy it back for one quarter of his selling price; he did a couple of years later off the receiver.
Another example is a hard-working farmer I knew who went share farming in Perth’s wheat belt, only to find his first crop came in the worst drought in history. He never recovered from that failed crop.
No amount of skill or hard work could save him. You may say he had bad luck, I say he had bad timing.
To succeed in business, you need a timing expert to tell you when to start up, when to downsize and when to expand. Buying shares is similar. Timing is everything.
