A few years ago, when I wanted to buy a pair of shoes, I'd go to a specialist store in the center of town. Like most men, I hated that moment. I can still see myself trying to find something that interested me among all those shoes. Not too dandy, like moccasins with tassels, but not too dapper either, like sneakers with velcro straps or sandals. After several rounds of the shelves, under the amused eyes of the sales assistants, it was always the same scenario: there were at least a few decent models left to try on.
I then sit down to test the last few acceptable shoes. It's a lonely moment when I have to take off the pair I've been wearing all day, releasing smelly feet in front of the increasingly amused sales assistants. Then comes the fateful moment when I try to put one foot in the model to be tested. It's amazing how your feet swell when you're hot. "Would you like a shoehorn, sir?". By this time I've already got drops starting to trickle down my forehead. A mixture of shame and annoyance.
I get up and take a few steps. It looks pretty good. "Do you have the heel wedged in the back? Not too much play in the front?". What the hell does he care? Too happy to have found a pair that more or less fit me, I head for the checkout, pay and leave.
Fortunately, that's all over now. Thanks to the Internet, I can choose my shoes from the comfort of my sofa. I apply a few filters - color, style, price, etc. - and end up with a large number of results that match my tastes. One or two more clicks, and the shoes are sent straight to my home. So easy. No heatstroke, no saleswoman asking me if my heel is properly seated, and above all, a monstrous time-saver.
Except that, unfortunately, I still work every day. When the letter carrier delivers the parcel, I'm not there. So I have to pick it up at the post office. Again, since I work, I have to go in the evening, during rush hour. Big queues guaranteed. Speaking of which, have you ever noticed how many little old people come to the post office to make payments in the evening, when they've got all day to do it? It drives me crazy. They have to pay their bills at the post office counter because they don't have Internet. Whereas I'm forced to come here because I've done my shopping online. It's like a little malaise.
After a 10-minute wait, I finally get my package. Overjoyed, I rush home to try out my new acquisition. The problem with buying on the Internet is that, of course, you can't try them on. Even if you order your usual size, there's always a moment when things go wrong. Back to the post office to return the package, another 10-minute queue, a new order with a larger size on the site, then back to the post office with its queue to pick up the new pair ordered. The result: several days of waiting and a few hours lost. I almost miss the saleswoman who cares about my heel. Except that the store where she used to work no longer exists, a victim of competition from the Net.
That's when I tell myself it's okay. I'm off the hook. But no, that's precisely when the trouble starts. When you've bought your shoes in a boutique, unless you go back, you're unlikely to see the salesgirls who looked at you with amusement. On the Internet, on the other hand, it's a different story. A little newsletter here, a nice "These items may interest you" e-mail there...
Fortunately the European Union in its extraordinary goodness has come up with the RGPD which is supposed to protect us from this kind of abuse. From now on, we'll be duly warned before we're hounded. So much for being warned, we've certainly been warned in recent weeks... In addition to being harassed by advertising, we're now burdened with terms and conditions. That's just great. In any case, it'll be a job for lawyers, if they can't defend ordinary citizens. Honestly, do you have the time and money to take on GAFA? At best, you could do it against small bloggers like me. Another useless law that only protects the big fish...
As my wife also orders from the Internet and we use the same PC, I'm now surprised to have female models in their underwear wiggling their tits on the banners of my site. Not that it bothers me, but on the other hand it's really hard to write articles with only my left hand.
I told you: I love the digital age.
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Thank you for this sweet & sour article whose ironic tone made me laugh out loud. The ending reminded me of Herbert Léonard singing "Ils font sauter tous nos fusibles, ces magazines qu'on lu d'une main"! Those were the "good old days" when you had to go to the newsstand to buy magazines like that... great moments of solitude too...
The Net has truly turned our habits upside down, bringing both good and bad. Fortunately, when it comes down to it, there are far more advantages than disadvantages, starting with trading: I can remember phoning UBS to buy shares (after answering security questions like "what's your pet's name?") and paying 100 bucks in the process!
With pleasure 🙂
Clearly, things weren't all rosy before either. But when did you start investing? I've never needed to use my phone.
They were Bobst shares in 1997!
3 years ahead of me, that's why
I bought my first shares (a few Swiss bluechips, out of my meagre savings at the time) in August 2002 (i.e. after the .com bubble had burst and the crash had taken its toll), after studying stock market mechanisms on my own, with the help of Pierre Novello's "Bourse - Le Guide de l'investisseur" (I recommend this book, especially for beginners). Compared to what I know today, I was still quite ignorant, but not totally devoid of common sense.
The market then went down until March 2003 (start of the 2nd Gulf War), before rising again more or less continuously until 2008... ("Subprime", does that ring a bell?). And then I got slapped in the face, never having seen it coming. But I didn't budge, and the markets finally took off again for another upward cycle, during which I recovered. I also learned lessons and refined my strategy. I've had confirmation that Warren Buffet is right in his approach (in my opinion).
Since the spring of 2017, I've gone mostly cash (some may think this is heresy), as I'm uncomfortable with market valuations and perceive an artificial side (notably an inflation by cheap money injected by central banks). Since then, I've missed out on some great performances and haven't cashed in any dividends, but I sleep well. I don't think we can wish for a crash, with its various and far-reaching consequences, including on people's lives and jobs, and on the state's finances, but if it happens - and it will happen one day - I'll at least be happy to be liquid to buy nice shares at a discount. I'm prepared to be -very- patient (the worst thing for me would probably be not to be and to enter the markets again now).
Anecdote: when I bought my first shares in 2002, a very good friend of mine, intelligent and cultured, but cautious by nature, told me that the stock market was dead and that we were in for a long fall or stagnation. I didn't listen, and I was right to do so.
Finally, to return to the subject of the article above, the Internet, coupled with powerful computing and mobility, has in a certain sense enabled the emergence of George Orwell's Big Brother: we are transparent to the state, but also to retailers (especially on the Internet), who know our profile with remarkable precision.
Clearly, Dividinde, you and I belong to more or less the same stock market cohort. In other words, within a few years of each other, we're both classics when it comes to investing in equities. We've experienced the same joys and disappointments. This forges our convictions in terms of strategy and risk appetite. So it's hardly surprising that we follow a value-based approach, particularly when it comes to dividends.
Dividinde started out in 1997, so he was able to reassure himself for a few years before picking up his first big bear market.
I started at one of the worst moments in history (2000). Nevertheless, I carried on, reinvesting heavily during the second Gulf War that you mention, and in the end this setback served me enormously afterwards, particularly in 2008.
You started investing almost at the bottom of the market, and had time to take advantage of the upturn before falling flat on your face.
We've all experienced one or two major bear markets.
At the moment, I'm not as liquid as you, but I still have a lot more cash than usual.
There are too many things that stink:
- valuations that are too high
- trends that are starting to decline badly
- the global politico-economic context, due in particular to the clown Trump
- rising interest rates
hahaaa I so loved the end of your article!!!! In addition to being able to take advantage of ads with a feminine connotation you can take advantage of your wife's purchases! Double winner that you are!
Being able to order online without worrying about the traffic to get to the store, the line at the checkout, the smelly people and the often lousy service, is bliss! And I love being able to look at people's comments or pro articles before buying anything.
Double winner, that's right 😉
Hello Jérôme and Dividinde. First of all, congratulations for the wealth of information shared with the community. I enjoy reading your articles and especially your discussions, which teach me a lot about investing!
On this subject, I'm curious to know your opinion and position regarding Mobilezone... interesting moment for a positioning?
Hello
dividinde analyzed Mobilezone at the end of last year here :
https://www.dividendes.ch/2017/10/analyse-de-mobilezone/
For my part, I still think what I said in my comment last year:
I'd wait for the fundamentals to improve (profitability, margins and cash reserves) and for the share price to halt its downward trend (which began three years ago).