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I made my first ever share purchase back in about 1980 when I used to spend far too much time reading Rydge's share newsletter and not enough time studying my text books at Uni.

The company was Olympic tyres and within 3 months it was taken over by Dunlop Pacific and thus I made my first easy money (equivalent to nearly a month's pay) on the sharemarket and was hooked and at the same time became a shareholder in what was to become Pacific Dunlop.

My father was equally impressed and started to buy Pacific Dunlop shares as well and we continued to add to our position. The company became a market darling and by the late 80's this company represented a sizeable part of our wealth.

Luckily me for me I bought another house and needed the money and sold my shares. My father has held on through thick and thin and I can't tell you how much wealth has been straight out destroyed or lost in opportunity cost. It's a sad story.

I share this with you, not as a judgement on the current price, but to illustrate the emotional baggage that can attach to companies and their share price.

Beware fallen angels who promise they have changed their behaviour.
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