From: JF 
Newsgroups: uk.finance
Subject: Re: If you were 19 yrs...
Date: Thu, 2 Jun 2005 16:28:53 +0100


In message , Rob 
graham  writes
>> He should think about sorting out his own investments as they can no
>> longer be entrusted to pensions/investment companies.
>
>The trouble with this line of reasoning is that it assumes that you can do
>it better yourself. How many people make their own share investment
>decisions and actually make money?

I do via my SIPP and I'm no financial wizard.

One big mistake I made when I was running my own private portfolio. 
About ten years ago I became convinced that security and identification 
protection was going to grow into a big business, so I bought some 
Photome stock and watched it slide into oblivion.

I also bought City Centre Restaurants stock because I thought they were 
ripe for a take-over and, although they didn't have much in the way of 
property assets, their Garfunkle chain did have a lot of prime site 
leases. One of the perks of having their shares was vouchers for freebe 
meals in Garfunkles'. Not having any use for them, I gave them to my 
editor who was delighted with them. 'Just the thing,' she said joyfully. 
'Finding somewhere to have lunches around here is a problem, but 
Garfunkles' is always empty at lunchimes!' Loud alarm bells, and doh...

But the SIPP does well mainly because the keeper of the portfolio does 
provide some good advice for his annual fee.

-- 
James Follett. Novelist. (G1LXP) http://www.jamesfollett.dswilliams.co.uk
"Return of the Eagles", the last book in James Follett's 'Eagles' trilogy
published by Severn House, London & New York, Dec 2004