I’m glad I don’t currently own shares. We sold them all to buy our house in Mount Gambier. The sale price was between 10 and 20 percent off the peak but still yielded a profit.
I checked the prices today after hearing the Dow dropped 358 points overnight.
Westpac is down to $20.69, WA Newspapers to $8.48 and Cortona Resources to 18 cents. Most people won’t have heard of Cortona.
They have some prospective gold tenements near Kalgoorlie and in New South Wales. The price climbed above 50 cents at one stage. I sold them in the low 40s and mid 30s.
If I hadn’t sold them we wouldn’t have been able to afford the house deposit.
As far as I know there is no reason for the price decline other than sentiment and people wanting cash.
