The road less travelled and life in the new world

I wrote Monday night/Tuesday morning about buying distressed stocks. So yesterday morning I bought Anglo Irish at €2.94 and today they are sold for €4.55 meaning that the idea brought in a 55% in just over 24 hours, it was risky, yes, but it also brought a return that would take about 7 years in a deposit account. Taking into account capital gains tax it is still 45% clean and clear (although I won’t have any as this is the first stock I sold and it the profit didn’t exceed the €1,270).

However, the point being made by the post yesterday was that it is a time of volatility, it is a time of risk and there are problems in the world, but there is also still PROFIT! The type of trading I did is also not advisable for the average person due to the risk attached, as stated in the first post I was willing to lose, to realise a total loss, if you don’t have the stomach …

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