A Dirty Dance Where The Wallflowers Are The Only Winners
Sun Herald
Sunday October 19, 2008
ONE step forwards and two steps back. That describes both our winner for this four-week battle - Doreen Daze - and the market.
Doreen's lucky stock picks for the week put her in first place but she actually lost money, as did all our share racers. And the market? Well, it's been more temperamental than a hormonal teenager. The week did start on a positive note, with Rudd's package providing a boost and global efforts propping up markets elsewhere but by the end of the week the novelty was wearing thin. In these rocky times blue-chips seem to be the answer. They're still falling - just not as much as everything else. Doreen's portfolio was peppered with market heavyweights such as BHP, Commonwealth Bank of Australia and AMP. Resident racer, David Potts, took a similar tack with his portfolio, which kept him in second place. He had Macquarie Group, the best performer of all our players. His initial $10,000 investment in that company grew to $12,303 by the end of the four weeks. QBE was another good one for him. Lihir Gold? Not so much. It lost more than 20 per cent in our last week.At the rear was solicitor Sandy Schmitzer, with her portfolio at $75,112 but at least she didn't have our worst performer, Pluton Resources. That was held by Richard Pritchard - who still managed to crawl into fifth place.
© 2008 Sun Herald