Year End Results

Companies have their own year end when they present there reports they outline what has been happening and forward looking statements. Wouldn't it be cool if as individuals we do that frequently.

This is the reporting season for most FTSE listed companies. A week or two we heard how Shell was making obscene profits - the announcement came at the worst possible time. The price of petrol is high prompting public backlash there was a threat of strike also - things have cooled down. I like it here when something happens the news media will be all over the case and before dealing with it fully another 'breaking news saga' distracts our attention. So it is the same story every year - next year we will remember Shell is still making money. Funny.

Next week it is the turn for banks - I can predict record profits will be announced someone will remember that he/she was charged for overdraft or late credit card payment and we will all be angry. Who needs to watch soaps when everyday we are acting our parts in the soap? I'm being distracted here.

So my new financial year has just begun I have been counting my gains and losses - checking whether that balance sheet actually balances and of course tempted to apply some window dressing. Around this time last year I was in Kenya helping someone set up some kind of savings plan. Because the person is not really interested in stock market besides it's hard to follow stock brokers around - remember Francis Thuo?

In my limited knowledge I thought - and I still think if you got spare 'change' then maybe dealing with established fund managers would be advisable. Old Mutual, Britak, Zimele - depending on how much you want to play with. The price per unit then was 122.55 and latest price that the units can be bought back is a whooping 126.75 I should have kept record of how the Equity Fund has been performing - (I'm learning). But the NSE wasn't all that either yes politics took over as expected.

Am I the only one afraid of the stock market? It is stressful enough making money who has the strength to run after a stockbroker? Maybe it is just me.

Good idea but who goes first - but no chance for quick bucks. Let's forget our own performance for awhile and get ready to condem the banks for amking huge profits at our expense! It would be a good idea though to be held accountable for once or every quarterly (too bad we think it is only Britney and Amy who are supposed to be role models...) Getting distracted again...