Really there are great listed diversified assets out there such as the older LICs and some ETFs where the probability of them going bust is extraordinarily low. Just spread your savings across a number of them for even greater peace of mind.
And as for the short term focus on BHP and other share's price fluctuations sort out if you're a trader vs investor. If you're an investor consider increasing the focus on income first. That way the share price can do whatever but as long as the income on average across diversified share holdings continues to flow then why worry.
Honestly I'm a huge fan of the older LICs, about as close to a set and forget income producing asset that you can get. As for the GFC etc did it really have much effect on their income, well NO. Just an incredible opportunity to dramatically add to holdings by buying an excellent income stream very cheaply. And if they happened to be priced below NTA then you're really laughing.
As for selling our LICs I personally don't at any stage, I just buy more when the market is well and truly on the nose. Then forget about it all for a long time and when you decide to check your shares again you may find on average that prices are back near their previous highs or more and what the hell was all the fuss about. More importantly did your income from these assets really deteriorate that badly along the way? Probably not. And if so the income fluctuations would have been dramatically lower than capital volatility.
It's all very simple, overthinking will have you tinkering with your portfolio too frequently resulting generally in more harm than good.
And as for the short term focus on BHP and other share's price fluctuations sort out if you're a trader vs investor. If you're an investor consider increasing the focus on income first. That way the share price can do whatever but as long as the income on average across diversified share holdings continues to flow then why worry.
Honestly I'm a huge fan of the older LICs, about as close to a set and forget income producing asset that you can get. As for the GFC etc did it really have much effect on their income, well NO. Just an incredible opportunity to dramatically add to holdings by buying an excellent income stream very cheaply. And if they happened to be priced below NTA then you're really laughing.
As for selling our LICs I personally don't at any stage, I just buy more when the market is well and truly on the nose. Then forget about it all for a long time and when you decide to check your shares again you may find on average that prices are back near their previous highs or more and what the hell was all the fuss about. More importantly did your income from these assets really deteriorate that badly along the way? Probably not. And if so the income fluctuations would have been dramatically lower than capital volatility.
It's all very simple, overthinking will have you tinkering with your portfolio too frequently resulting generally in more harm than good.
