Pyrpolizer wrote:Good luck to you Paphitis.
Point is there's no chance in a million for any Cypriot to ever lose money in such activities any more.
If you have a look at the Cyprus' Stock exchange daily volumes you 'd laugh. I wonder why they still keep it going...
We might be stupid, but we are not as stupid to repeat the same mistake twice.
Are you sure the Aussies are more clever than us?
It's not good luck to me Pyro.
I'm just trying to tell you about some basic principles on the markets.
No the Aussies are not more clever than you. That is silly. They probably have more experience than the average Cypriot does about Stocks perhaps but not more cleverer.
Most Aussies actually invest in shares because every Aussie has a Super Fund and most of the money invested in these funds go to the stock market. It is mandatory. You can only choose your investment stream from cash, to Bank deposit to property to Balanced Funds, or Stocks.
I have set mine to 100% stocks and 50% goes to the US Dow Jones and NASDAQ while the 50% is on the Aussie Markets.
My stream is the riskiest because it also involves AUD to USD and back to AUD currency exchanges. So half my funds are in USD and in US Stocks. Half the money I invest is converted to USD and goes to US Stocks too and the other half to Australian Stocks in AUD. Risk factor is full pelt. Rewards are also full pelt and losses during corrections are more full pelt too.
It's the stream that can win the biggest and it is also the most volatile. But it is handled by professionals and the more time you put in the more better off you will be.
Because we have these schemes, Australians have educated themselves on how these markets work and there are also many financial advisors that tell us of the benefits and pitfalls. If it is long term like Super Funds usually are (its a Pension Fund), then there is no use worrying and it all pans out in the wash over the longer term.
I do not advise anyone going into stocks without getting proper qualified advice and after an assessment of your objectives and goals. It isn't for everyone.
I sometimes hear how old Cypriots talk here about what happened in Cyprus and it is a huge laugh. They just have no idea, but half of them haven't even finished school. They actually think big business and the Government scammed them and you got to wonder why people with this little knowledge would go into stocks to start off with. People are fueled by greed in the end of the day. This occurs in every country as greed is universal.
