Well, the first steps in my investment journey had really gone well with the easy stuff of buying shares in the utility company I worked for. I had also branched out just a tad, and bought into some investment trusts run by Edinburgh fund managers and that gave me a buzz in terms of doing something a little more myself rather than just taking the safe pickings from utility flotations. The next logical step of the journey was, of course, to really become a big boy and buy some shares in individual companies but how would I select them. Possibly via tips in newspapers or via tip sheets. In the end, it was a combination of tip sheet and the papers with the first purchase being a house-builder that was rapidly acquired by a larger player for a premium; nice, I thought!
I started to read a penny share tip sheet that suggested two really hot companies to get into were Azur; a ladies fashion company and also the British Taxpayers Association; both traded on the OFEX market. The write up for each seemed to be very convincing and the fact that you needed to subscribe to the penny share publication to obtain these privileged hot tips, gave me the confidence to buy both. I was naive of course and the collective investment soon proved to be a bit of a disaster; I learnt that such very junior markets were not for me: lots of promise of jam tomorrow but as my old granny used to tell me, “tomorrow may never come”.
All private investors that at some time consciously took an investment on the stock markets did so as the start of an investment journey. For many that journey would have ended fairly quickly having suffered a series of poor investment decisions and for others, a little success probably kindled a spark of enthusiasm to go a little further on that investment journey. This three-part series is a story of my own journey starting back in 1989 to the present time, 2016.