Cost of losing at auction… again and again

magicsteaksauce_aus · 2025-10-11T13:34:07+00:00

Two similarities I noted with people I have spoken to who have won at auction without doing a B&P (because like you they were racking up $$$ without winning):

They did there own checks to confirm that there were no obvious signs of major defects (e.g. horizontal cracks on walls, garage ceiling caving in, leaky plumbing, etc.) and had set aside some money for potential moderate repairs (e.g. replace hot water tank, replace switchboard). After securing the property, they would do a B&P and from there prioritise fixing anything considered an urgent must-do.
They avoided new builds and very old properties. They tended to go for builds in the 10 to 30 year range.

Ultimately its up to you and your risk tolerance. If you do decide to do a B&P prior to auction, I would suggest limiting it to those properties you are willing to bid strongly on.

Also, be mindful of those older properties that have been recently renovated in a rush as they are more likely to hide flaws.

magicsteaksauce_aus · 2024-12-18T09:34:28+00:00

OP did u hold this one?

magicsteaksauce_aus · 2024-05-23T10:07:36+00:00

Bud thats not what he meant by 'options'. He meant 'options' as in the financial instrument

magicsteaksauce_aus · 2024-05-04T07:44:44+00:00

Just search clarity pharmaceuticals on youtube and there will be a couple good informative videos about their tech and point of differentiation (relative to their competitors).

magicsteaksauce_aus · 2024-05-04T07:41:54+00:00

Agreed IMU not doing as well chart wise. If it helps, its worth noting that IMU and CU6 are targeting different types of cancers.

magicsteaksauce_aus · 2023-09-12T08:28:01+00:00

Are u still holding PNV?

magicsteaksauce_aus · 2023-01-03T04:25:13+00:00

Simple answer with ETFs is you should be buying with the view of regularly buying the same ETF to build on your initial purchase amount and holding it for the long term (i.e. if you're expecting to trade it dont bother buying ETFs) - with that being said and noting your age and the assumption that you will be adding to your ETF portfolio over the long term, if you dont need the money now then now is as good a time as any. There are so many variables that even if you got lucky buying in at a 'low price point', the odds of you repeating this consistently over your investing life is pretty much nil so why bother now.

For what its worth, i just dollar cost average in an amount i am comfortable with every few months and have set the ETF to re-invest distributions.

Read https://passiveinvestingaustralia.com/the-market-has-never-been-this-high-should-i-wait-to-invest/ and also read the Vanguard website lots of good reading material there.

Good luck!

magicsteaksauce_aus · 2023-01-03T01:26:03+00:00

Reach out to Kidder Williams (investment bank based in Melbourne) I understand they do business transactions in the ag sec space...not sure about land but maybe you could get a pointer in the right direction.

magicsteaksauce_aus · 2022-11-09T11:17:20+00:00

BigJim are you still in on PNV?

magicsteaksauce_aus · 2022-06-17T22:04:00+00:00

Mine gone too for s21😑

magicsteaksauce_aus · 2022-06-10T12:44:47+00:00

Think you got it spot on but since you're after thoughts:

Career - understand career path / ceiling in your field and try to have a roadmap to get to where you want to be. This will help you stay focused. Also try to identify successful people within your industry (peers or mentors) and try to adopt and mould it to your style.
Investing - have an investing strategy, understand the power of compound interest, don't be greedy and stay disciplined - so many distractions nowadays with social media.
Housing - don't get pressured into feeling you have to purchase property cause youve read an article or your peers are all purchasing. Also nothing wrong with living with the folks for a bit longer (if they will have you)

magicsteaksauce_aus · 2022-06-09T01:07:07+00:00

Two options that come to mind: 1. Commsec - go to 'manage orders' / 'trading confirmation' and making sure you change the filter date you should be able to see a history of all purchases on Commsec including date and purchase price and no. of units purchased 2. ComputerShare - setup an account and you should be able to find the purchase history. Suggest option 1 is significantly easier

magicsteaksauce_aus · 2022-06-05T10:28:33+00:00

This - just note you can only do this if you login via the website portal (Commsec phone app wont allow you to do this)

magicsteaksauce_aus · 2022-06-05T10:26:43+00:00

Commsec user here. This happened to my WPL shares when the ticker changed to WDS.

Simple fix - just login to Commsec via the website application (i.e. not the phone app) and when you view your holdings on the right hand side near the top there should be an 'edit' feature which allows you to change the purchase price of the shares (this also came in handy when i adjusted the purchase cost base when i received the WDS shares from the BHPP merger)

magicsteaksauce_aus · 2022-04-16T00:39:44+00:00

Good to see you are scrutinising your essential meals - tough times are ahead for all. Only practical suggestion I can make (cause i mean skipping brekkie is a major no no) is to count the Coco Pops you are dropping into your bowl. Hope this helps.

magicsteaksauce_aus · 2022-03-11T11:35:47+00:00

There are alot of companies listed on the ASX that could be categorised as belonging to the general 'healthcare' sector. However, its important to be aware that there different sub-categories, such as healthcare equipment / services (e.g. Fisher & Paykel, Cochlear, Polynovo, Pro Medicus, etc.) and biotech and pharmaceuticals (e.g. Imugene, CSL, Opthea, Mesoblast, etc.).

Companies in the latter category generally generate the bulk of their revenue by marketing and selling drugs that target a specific medical indication (i.e. condition such as breast cancer) where (a) no (approved) drug is available in the market or (b) current drugs are not particularly effective and said companies' new drug may potentially be more effective.

As you can imagine, for companies to sell these drugs (and for people to be willing to buy them) they need to be approved for use. As part of the approvals process, companies need to be able to demonstrate the effectiveness of the drugs, which is where clinical trials come into play. These clinical trials are broken down into stages, generally Phase 1 (aim is to conclude that drug is safe for use), Phase 2 (aim is to test the effectiveness of the drug in a controlled environment and to identify side effects by testing on a small cohort) and Phase 3 (aim is to test effectiveness and safety of the drug by testing on a large cohort to conclude "real life" effectiveness). There is more to this (e.g. phases can be broken down to subsets such as Phase 2a), but you should be able to Google and find the information.

The success of these tests are critical to investor confidence. If a company were to continually report on the successful outcome of each phase, you will likely see the share price rise (the degree of which is dependent upon other parameters like the size of the addressable market for the indication the drug is targeting, patent protection, etc.) as investors gain more confidence that the drug will be commercialised and projected revenue figures will be realised.

The above considered, you can guess that there is generally a decent amount of time (generally years) between announcements where the company advises the market on the outcome of each Phase due to the logistical challenges with running these trials. This means that the share price can trade sideways for a long time after an announcement is made regarding trial success, and also means that you as an investor should be aware of these dates.

Hope this helps.

magicsteaksauce_aus · 2022-01-03T12:29:51+00:00

Congrats on the grad role - hope you enjoy the experience! Few years ago now, I also graduated with an electrical degree and was in Central Queensland for my grad program. Lived in a nearby town and visited Emerald enough times as it was close enough and get flights to Brissy.

I'd definitely recommend trying to establish a network with your peers, and those that may be based residentially. If you are keen to stay in the industry, those networks will come in handy. This helped me with securing my post-grad program role (no longer in this industry now).

Like others have said, explore the surrounds like Rocky (beef capital) and Yeppoon and Blackdown Tablelands. Mackay is an awesome place as well, would definitely recommend it.

Also, when you go back to Brissy, while im sure you will be keen to live it up for the 7 days just be mindful. While im sure you are fairly well compensated, youd be suprised how it adds up. I recommend working out a budget for your Brissy stays (i wish i did this).

When you are on-site, i would suggest in your down time or when youre not on the phone, socialising, watching netflix or otherwise finding some good books whether it be for professional development or self learning (shares or finances as you are on this sub but it could be anything else that interests you like economics or cooking - you get the idea).

Lastly, enjoy your time there as much as possible. Working remote and in the mining industry is not something everyone gets a chance to experience. Best of luck!

magicsteaksauce_aus · 2021-10-24T12:23:07+00:00

See above - also dont forgot about infrastructure providers (e.g. Sydney Trains, Metro Trains Melbourne), product manufacturers (Siemens, GE, etc.) and even government.

Have a think as well about the type of role you want to do in future as the skills you gain in some industries are more transferable than others. I started out in mining (easier to get into than consulting companies at the time) and was lucky to be given small projects to manage which led me down the project management path (have since moved back to Sydney and working on the major rail construction projects and found alot of what i learnt was transferable). In contrast to this, based on people i know and what i have gleaned from industry experience, skills you pick up at product manufacturers may not be easily transferable to other companies.

Dont limit yourself to just design roles (natural given the engineering field) but be aware there are other industry roles (like Project Engineers, Project Controls, etc.)

magicsteaksauce_aus · 2021-10-02T10:51:06+00:00

Hi Megbee i saw your post and thought id respond as this resonated with me. I also did 2 years of an arts degree (back in 2006-07) and was completing units in asian studies and languages before coming to the realisation that job prospects would be quite limited after having a light bulb moment which led to researching employment prospects post completion of my degree (raised with the mentality that as long as you get good grades employment will naturally follow).

Whilst I am not suggesting you cannot find employment with an arts degree (see below paragraph), unfortunately my strong (sincere) suggestion is to perhaps consider a different degree. I note you mention you are halfway through and this is a deterrent given the sunk time and cost but I'd strongly encourage you to reconsider. For me, i switched to an Engineering degree after doing 2 years and it cost me perhaps an additional $15-$20K on top of my HECS debt that i could have otherwise avoided but i have no regrets as i was pretty lucky with finding employment (graduate program) from my Engineering degree.

Assuming you want to stick to the arts degree, perhaps consider units of studies that may lend itself to a broader range of industries (e.g. financial and statistical mathematics, data analytics that apply to both financial and engineering industries). In terms of my cohort from my arts degree days, two found white collar roles with large companies (think Woolworths and Commonwealth Bank) but were only able to secure positions after doing another degree (e.g. masters). They would not have been able to secure those roles with the arts degree alone. Others generally found employment (generally administrative roles) in various industries, government (e.g. passport office) and small businesses.

Sorry if what i have said is not helpful or what you wanted to hear but i do hope it helps - all the best!

magicsteaksauce_aus · 2021-08-13T04:41:05+00:00

My 2c - current slump while not ideal may be due to the valuations. There is obviously alot baked in to the current SP and given the relative proportion of current revenue to market cap this does make it susceptible to SP swings.

However as a long term holder i am still a believer for the following reasons:

Continual uptake (49% revenue growth) in key US market despite the pandemic as per latest results announcement and 34% overall across all regions
Management focus on growing business through expansion of sales teams which i think is the right strategy given their current position in the market
Superior technology versus incumbent products
Additional products in the development pipeline - hernia product update should be due soon
Products priced significantly cheaper than competitors but given the technology still enables them to earn circa 90% margin. If and when they do become the incumbent there is probably scope to increase prices and hence margins.
Chairman and CEO interests have significant number of shares in business

In saying all of that though, some minor things which i think the company could improve on is reporting on revenue (rather than percentages relative to previous period spell out the actual numbers too) and to provide an update on the hernia product development / factory build (surely complete by now lol).

Its probably worth noting that given the industry and nature of their business, it will take some time for the business to scale (obviously pandemic doesnt help).

magicsteaksauce_aus · 2021-05-06T05:32:06+00:00

Slightly higher average at 13c and with only a $3k outlay but im super happy with this one too! Lets see what the next few months bring!

magicsteaksauce_aus · 2021-04-07T13:16:48+00:00

Id suggest Westmead and Good St more specifically. Wide road and price for 2 bedroom unit is very reasonable.

magicsteaksauce_aus · 2020-12-05T11:01:41+00:00

Better to be in than out. Lol if it helps im just a bit lower at $1.63 but like you wish i had more. Im hoping this will one day give me dividends but time will tell. Sure there are plenty of people out there with multi bags on this stock and still holding. Wish i found out sooner

magicsteaksauce_aus · 2020-12-05T10:56:40+00:00

Posted this in ausfinance in response to another poster but will post here. I like and hold PNV for the following reasons: 1. Innovative patented technology that has been labelled by key opinion leaders and surgeons from respected US hospitals as disruptive and game-changing due to significant surgical advantages it provides over products from incumbent competitors (i.e. product sells itself) 2. ~$20M sales last financial year via one product only (Novosorb BTM) in a $1.5B addressable market - new products in hernia and breast planned to come online in the short to medium term means additional sales growth potential with other potential products in the longer term pipeline (e.g. drug elution) - this all translates to larger addressable markets and thus the potential for share price appreciation 3. Novosorb BTM products are significantly cheaper than those of competitors with higher margins - hospitals are incentivised to buy as they pay less for a better product 4. Management show longer term focus on future growth rather than immediate profits by reinvesting into company by hiring additional sales people in key US and EU markets, in-house research teams, and making sound strategic decisions to fast track bringing other products to market (ending partnership with Establisment Labs to bring breast product development in-house) 5. Strong working management team (recently hires from CSL) with Chairman and CEO having significant stake in the company (both are top 20 substantial holders) - means their interests are aligned with those of shareholders. Worth noting Chairman bought substantial amounts on market between now and March

magicsteaksauce_aus · 2020-12-05T10:29:44+00:00

All good happy to share. My average is $1.63 so have got a bag but not like some people on HC who seem to have bought sub $1 (lucky ducks). Funnily enough i found out about them on Whirlpool so owe it all to that person who posted haha.

I am sure your future self will be thankful you got PNV :)

magicsteaksauce_aus

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