Phil Muscatello
speaker
228 appearances
1 recordings
1 series
first heard Oct 2020
last heard Oct 2020
Phil Muscatello’s voice in public audio — every appearance, attributed to the second.
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Appearances
And the other great lesson, and this is something where I made mistakes in the past, is not being diversified, which is, of course, why I've retreated like a turtle putting my head back into the shell, into the comfort of ETFs, where you're going to get that diversification.
No, I was starting basically from joining the Shareholders Association, which was about the same time as when I started the podcast and talking to some of the great investing minds that we have here in Australia.
Well, actually, I've been doing this for a long time.
My first share purchase was back in the days of paper trading where there was no electronic exchanges, where
I went and met the broker and went into his office and he gave me his tip.
And I said, okay, we'll invest in that company, which is still on the ASX actually, Gervois Mining.
And I said, okay.
And he wrote down the order and then gave it to someone who came in and obviously went and placed that paper-based trade for which I got a certificate for.
So I have been doing this for a long time as well as
in the 90s um being involved in some of the the big share floats you know the the cbas and um eight more what was the other one long time ago hard to remember i hope you hold on to your cba shares if you got them
No, no.
Again, I'm not stupid decision.
I think it's worthwhile repeating that diversification is the key.
And if I can just expand on that point, I think people think that if they've got...
if they own shares in a bank and they own shares in a miner and then maybe shares in Woolworths, for example, that that's diversification.
What I've really come to learn is that the true diversification, and this is where your super money is invested, is asset allocation.
And this is something I hadn't really realized until doing the podcast.
that there are other asset classes like bonds, for example, and infrastructure and real estate that are available.
You can buy them as an ETF, for example, to truly diversify your portfolio.
And there's nothing as safe – sorry, that's not the right way of putting it –
Showing 101–120 of 228 · page 6 of 12
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