this post was submitted on 14 Oct 2024
12 points (100.0% liked)
Melbourne
43 readers
41 users here now
This community is a place created for the people of Melbourne and Victoria. We are a positive, welcoming and inclusive community. We might not agree about everything, but we always strive to stay civil and respectful.
The focus of our discussions is based around things that effect Victoria, but we are also free to discuss our local perspective on wider issues. Or head to the regular Daily Random Discussion thread to talk about anything.
Ongoing discussions, FAQs & Resources (still under construction)
Adoption Certificate for Nellie, the Daily Thread numbat (with thanks to @Catfish)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I think if the company winds up you just lose the money. I also had one company that did a buy-back of small parcels of shares which you had to opt out of if you wanted to keep the shares. Another was bought out by an overseas company - which was actually nice, I made a 50% profit in just over 12 months. I wish I'd bought more than $200 worth of that one!
I've been learning a lot about how the market works, but I definitely prefer funds than individual stocks. But buying a few stocks for $200 has taught me a lot about how everything works. I lost a lot of the value almost straight away, but I have gained most of the losses back over the last couple of years - if things continue as they are I look like I might actually start to make a profit longer term, so things are not as bad as they looked initially.
Seems like I was on a similar trajectory. Penny stocks seemed like a bit of fun, but it definitely an all-consuming learning curve and bit of a circle jerk in some of forums I was reading. I lacked a bit of patience when I was first interested in it. Iโm not much of a gambler, so EFTs have been a pretty safe bet.