Pottsy reigns supreme with spec stocks
ONCE upon a time, not so long ago and in a place very much like our own, you could put your money in the sharemarket and watch it go up, up, up. Sigh. Simpler times indeed.
ONCE upon a time, not so long ago and in a place very much like our own, you could put your money in the sharemarket and watch it go up, up, up. Sigh. Simpler times indeed.The world is different now: everything is topsy-turvy.Exhibit A: Pottsy is riding high on the crest of a speculative wave. Venturex Resources is up another 12 per cent. Somehow, his picks of Sipa Resources and Quickstep Holdings also surged and David added to his growing pile.In another flat week, our other racers couldn't catch a break. AFR sharemarket analyst Peter Jones and reader Leanne Vaz lost only a little money.That kept Jonesy in second but it gave Ms Vaz a big bump up the rankings to fourth and within spitting distance of Doreen Daze's flowing black robes (with star motif).Daze now finds herself in medal contention. Leanne has the most sensible of portfolios and it almost paid off after Bluescope Steel, Air New Zealand and ANZ all added more than 2 per cent. But she was let down by Woolies and Coca-Cola Amatil. Nobody made a million by investing sensibly, Leanne. Lessons are being learnt here in the shares race.Economics student Will Arnott drops out of the top half of the ladder. His only really speccy stock, Tiger Resources, had a shocker, dropping 13 per cent. Foster's was his best pick for the week, showing that investing with your heart, not your head, is the best way to make money (ooh, more learning!).Dartboard is off the pace and out of the running. Only one of reader Rhys Kneepkens's wild broncos he calls stocks went the right way this week; which just goes to show that the only way to wealth is through a diversified portfolio of quality companies. There endeth the lesson and another oh-so-exciting chapter of shares race. Next week: next week!
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