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There are good times and there are bad times. Neither is here to stay.. Every good time fades away and comes bad time which will again leave space for good time. So we see seasons, cycles..
Many who merry during Good Times, weep during bad times. We the long term investors have seen these cycles again and again and expect the same in future as well.
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There are two good practical lessons of Ant and Grasshopper in the world.
1. Norway.
Need not to re-write just refer...
https://forum.lankaninvestor.com/t3164-what-a-portfolio?highlight=what+a+portfolio
2. Chile
When Andres Velasco became Chile's minister of finance in March 2006, the country's treasury held $ 6 Billion in savings. Over the next two years that number ballooned to almost $ 50 Billion as the world wide commodity boom drove up the price of copper, Chile's major export.
The country's good fortune did not go unnoticed- nor did the absence of a commensurate increase in public spending.
In November 2008 thousands of protesters burned an effigy of Velasco in streets of Santiago, vilifying him for refusing the push for greater spending and higher public sector wages while reminding those calling for his resignation that the copper-generated surplus money for a rainy day.
As the world economy plunged deep into recession in 2009 the wisdom of Velasco's tough choices became abundantly clear. The crisis curtailed access to credit and forced many countries to endure belt-tightening, but Chile used its arsenal of savings to launch a $ 4 Billion package of tax cuts to cushion the impact of the global slowdown on its economy and to distribute a raft of subsidies to mitigate the hardships of poor.
. By April 2009, Velsasco was the most popular minister in President Michelle Bachelt's cabinet ,with an approval rating of 57%-almost double what it had been in August of the previous year.
Many who merry during Good Times, weep during bad times. We the long term investors have seen these cycles again and again and expect the same in future as well.
***********************************************************
There are two good practical lessons of Ant and Grasshopper in the world.
1. Norway.
Need not to re-write just refer...
https://forum.lankaninvestor.com/t3164-what-a-portfolio?highlight=what+a+portfolio
2. Chile
When Andres Velasco became Chile's minister of finance in March 2006, the country's treasury held $ 6 Billion in savings. Over the next two years that number ballooned to almost $ 50 Billion as the world wide commodity boom drove up the price of copper, Chile's major export.
The country's good fortune did not go unnoticed- nor did the absence of a commensurate increase in public spending.
In November 2008 thousands of protesters burned an effigy of Velasco in streets of Santiago, vilifying him for refusing the push for greater spending and higher public sector wages while reminding those calling for his resignation that the copper-generated surplus money for a rainy day.
As the world economy plunged deep into recession in 2009 the wisdom of Velasco's tough choices became abundantly clear. The crisis curtailed access to credit and forced many countries to endure belt-tightening, but Chile used its arsenal of savings to launch a $ 4 Billion package of tax cuts to cushion the impact of the global slowdown on its economy and to distribute a raft of subsidies to mitigate the hardships of poor.
. By April 2009, Velsasco was the most popular minister in President Michelle Bachelt's cabinet ,with an approval rating of 57%-almost double what it had been in August of the previous year.
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