Re the great NZ crash of 1987 [same time but much much worse than all the other simultaneous crashes round the world], I'd just add that I, of course, was not significantly affected, being a boring kind of investor who declined to get involved with the hot shot companies. I owned shares in a boring company which made things.
All about me and contemptuous of me, were all the clever gearers, reverse-debt, borrowers and financial management types who puffed and puffed up the bubble in a debt and property speculative orgy of wishful thinking and takeover mania that ended with bankruptcies galore and a chastened population. But I retired years ago, while they are back at work, some having adopted a rural religious lifestyle, some being in jail, some making a comeback of a very faded nature.
So I've been there, done that, to coin a cliche. Qualcomm will drop in the event of a major prang. Maybe 30%. But watch what happens to the other stuff. But unlike the purist government of 1987 here, where no amount of printing could have done anything because things happened instantly, the Fed is printing flat out now. So is Japan. So solid shares beats US$-VW and I doubt that the big crash of 60% will happen. Just the good old +/- 20%.
No worries,
Mqurice
PS: Incidentally, it's 4th July here already. Have a nice day! To coin another phrase. |
