Hello and welcome to my Seeking Alpha profile.
My name is Mark Savage, I'm a blogger and content creator from Australia. Also a hobbyist stock trader - I trade on paper for fun and still learning about it.
Currently working with Bend + Mend - experts in Physiotherapy and Pilates services.
My professional background is that I have 30 years experience as an Oil and Gas engineer involved at the front end of engineering design of offshore developments.
As far as my investing experience goes; I began as a retail investor in 2005. At first I made all the classic mistakes of a novice investor – chasing the latest hot one, drawing straight lines from the past into the future, etc. In fact retail investors tend to buy and sell too often and at the wrong times. Studies have shown that, for the above reason, if the market rises 10% then the average retail investor only sees a gain of about 2%. My mistakes went on for years and naturally I wasn’t doing too well.
But then I took a long hard look at myself and decided a change in philosophy was in order…look at stocks where consensus expectations are poor instead of the latest hot one. This is called contrarian investing. To be successful this way you have to change your mindset completely and cut yourself off from the herd (become a ‘recluse’ you might say). However at first my performance was even worse and I found that contrarian investing can be a dangerous game. But I soon I learned the ropes and the crash in the oil price bought a perfect opportunity. The result was a dramatic change in my fortunes. It’s not just a question of buying shares that have fallen in value. There’s more to it than that. We all have the same information but the difference is how we interpret it.
In the past I have been commenting on Seeking Alpha articles under the name ‘Aussie Recluse’ but I am now reverting to my real name. I am a resident of SE Asia.
“The only people that have really made money out of the stock market are lonely contrarians”