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Money for nothing

Posted by Andrew Mernin on April 8, 2009 11:51 AM | 

I can't seem to leave them alone these days - Kazakhstani metals that is.

No matter how hard I try, the lure of the chance to grow my portfolio by thousands of pounds in one afternoon proves too great and I'm knee deep in the shiny stuff again.

Anyone who has played our fantasy stocks and shares game may know what I'm talking about.

Despite following numerous tips in the Sunday papers and even from stockbrokers, the only stock that has brought me returns of any note is the mining and metals stock Kazakhmys.

And as I continue my slide towards the bottom half of our internal company league, I'm starting to panic.

I spoke to a top stockbroker the other day who told me those at the top of the league (two of which have more than tripled their portfolio) must have got there by taking big risks on the banking stocks.

Armed with the expert tip I went out and put all my money in one huge, fragile basket, by buying into the big banks.

Then, as Lloyds TSB announced plans to cut 9,000 jobs, I could only watch my portfolio dwindle away by the minute.

I had intended to sit on the nest egg for a few days in the hope that one good day for the banks would propel me to the top of the league.

However, I got itchy feet, sold up, moved into retail and now Lloyds has begun to recover.

Whoever said getting rich on the markets was easy had clearly never played Taking Stock.

If you want to join in the fun, and your boss can't see your computer screen, follow the Taking Stock links on our home page.

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