Sunday, June 05, 2011

Buying a Few Shares

On Friday I bought about 5000 shares in Platinum Capital (PMC.AX) at $1.21 which is close to the net asset value. Usually this closed-end fund trades at a premium to NAV, so seemed a good idea. I probably will buy some shares in my US account too in the near future. When I buy shares it isn't direct saving, of course, as I use a margin loan and then gradually pay down the margin loan with savings afterwards.

We continue to put $A1,000 into each of our accounts with Colonial First State here in Australia each month as well as investing in our superannuation on top of the employer contribution. Snork Maiden adds $A225 every two weeks and I add $A431 (my salary is higher and my employer only contributes 9% of salary (the legal minimum) whereas her's contributes 15.4%). On top of that I added another $A2,000 to Snork Maiden's account last month.

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