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Diary of a Dumb Investor: I was nearly duped into a fashion trap

I may have profited from the Standard Chartered saga, but that doesn't mean I'm going to buy any old thing with a battered share price.

 

But I want a little cash left on the side, and I've only got £1,161.

I’m sure there are plenty of beaten-down shares out there, but I need to sell something first. If BP (BP.L) somehow manages to break even – I’m still down 11% – then I’ll ditch it. It is quite clearly my weakest link. RIT (RCP.L) is vulnerable too; a long-term winner it may supposedly be, but I’m tempted to get out of what seems to be the most overrated investment ever while I’m slightly ahead.

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9 comments so far. Why not have your say?

David 111

Aug 20, 2012 at 17:06

Agree that RIT is much overrated. Why is it still a 'Citywire Selection'?

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Ian Burgess

Aug 20, 2012 at 17:07

Sold your Standard Bank shares yet?

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William Phillips

Aug 20, 2012 at 17:40

The ambition to cleanse Russia of non-Russians can hardly be called neo-Nazi. The Nazis intended to cleanse Russia (at least, the European part) of most Russians and replace them with Germans.

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Lee Whitehead

Aug 20, 2012 at 18:12

so where have the screengrabs of your portfolio gone? did you sell standard chartered? what is your current state of loss on BP? are you re-investing dividends from that? specifically, because you should have had by my reckoning at least 3 divi payments and you are ex-divi already on the last quarter...

Ponderings are fine, where are the facts and where is this article going?

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Suze Jamieson

Aug 20, 2012 at 21:21

Nowhere much, methinks. Direction lost.

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Moylando

Aug 20, 2012 at 22:21

You say " analysts in the press are quoted as saying now could be the time to buy"

Could be - might not be. Who knows. Can I be an analyst ? I know a lot of things that "could be"

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craig knox

Aug 21, 2012 at 23:23

You were simply lucky with SC. I considered buying them myself, but the ubcertainty of the fine was too great a deterrent. Look @ Burberrfy. Forget Supergroup . . .

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Michael Peters Fenwicks

Aug 26, 2012 at 08:57

DI,

General rule: if enough people predict something, it won’t happen.

Personally current market calls for directional trading to say the least i.e - SC..

Simple as that!

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Ian Giddings

Aug 26, 2012 at 21:59

Don't agree RCP is overrated. When the market wobbles, as it will, RCP may be your steadiest investment.

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