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Hello Gang,
I've been looking through some old share certificates, trying to find a few losses to try to cut my capital gains tax bill.
I've unearthed a couple of companies I'd totally forgotten about. They were bought in the days before an electronic account with the likes of ShareCrazy.com.
Sadly, these companies have gone bust. When this happens there's usually not enough money left for shareholders to pay for a stamp to let us know about the disaster.
But that's no excuse. There is no excuse for buying shares and forgetting to check them regularly. If I had kept a close check on my shares, I would have spotted the danger signs, and would have got out, retaining a large part of my money.
However, I must say that these days, it's very rare for a company to go under. To turn into a public company, normally firms must have fairly good balance sheets, otherwise they could not readily go public.
It's quite a long time since one of my many, many companies went bust. It makes quite big news when a big company goes down. Very big companies, like British Energy (BGY.L) or British Aerospace (BAE.L), usually come back from the brink. And you should never put huge sums into smaller companies anyway.
That's the end of the money class today. Join me in the Punter's Return!
To find out more about Malcolm CLICK HERE
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