I literally cashed out 15K EU of shares on Thursday last week, my main fund is up 500% since its inception in 2010 - I've sold quite a lot on the way up, and with hindsight I'd have been better of waiting and selling the whole lot now, but hey, I took some profits at 300% up, then 400% up, I mean it seemed silly not too.
But now I think we're really in government subsidised fantasy valuation land for those stocks. Ultimately it's demand that drives value, and that's going to dry up at some point very soon.
I needed that money for a land purchase anyway, TBH that's why I invested in stocks anyway 10 years ago, I've always had this money earmarked for land, but I feel I've got pretty lucky needing to sell right now.
It looks set to burst, massively. I mean let's face it, this is a pandemic related financial crisis, but stocks haven't been affected yet, that's got to give at some point!
Posted Using LeoFinance Beta
I think you made a good call especially taking a phased exit in these crazy markets, 10 years in this stock market even with a little capital would have done really well
I agree with you regarding it being government subsidies valuations lol but we got to keep the party going, if we take away the punch bowl now we might start to sober up and see the truth, gotta keep us all drunk a while longer
I can say with conviction it will burst, just how it will burst and when I have no clue. I hope your land investment also works out, I am sure it will
Posted Using LeoFinance Beta