Danielle Press is a high powered Australian business woman who we could all learn a thing or two from when it comes to investing in shares, and even alpacas!
Now the chief executive of the Myer Family Company, Danielle’s skills allowed her to revolutionise the $7 billion industry fund Equip Super, bounce back from the last minute collapse of its proposed merger with Vision Super and know the right time to hand the reigns to a new CEO.
A keen investor, Danielle shares her investment tips with The Constant Investor Success Stories Podcasts Series.
Get clear on your investment goal
A key tip from Danielle is to get absolutely clear on why you are investing and how you plan to use the money.
For instance, are you looking ahead and investing to ensure a secure financial future for your family and education for your children?
Clarity around the desired outcome of the investment will determine the time frame in which the return needs to be realised and the type of investment to make.
Australian equities, the way to go?
Once she is clear on the goal of the investment, Danielle moves onto asking bigger questions; does she want to invest in Australian equities?
She also takes time to look at the current state of the Australian economy, and ask; is the market overvalued or under-valued? Is it going to move sideways? Are there better asset options for the investment?
Don’t be lazy in managing your investment
Disciplined management is Danielle’s next tip. Once you’re clear on how much you want to make from the investment and you’ve hit the amount, take it out.
“I’ve got many, many stories of when you just sit there and you don’t quite put the trade in or don’t quite get around to it and then all of a sudden you’re nowhere to be seen.”
She uses her UBS shares as a perfect example of this situation, when they were trading up in the high 90s, she considered taking some off the market but didn’t act on it, then the shares were trading at 60 and she thought “I can’t possibly do it here” and then they finished up trading at 18.
Time for yourself – the most valuable investment
Life’s not all high powered finance for Danielle, who believes you make the best decisions when you are empowered and relaxed. Relaxation and creating time for herself is one of her most valuable investments.
She builds this time into her routine by walking her dogs every morning and considers her weekends sacrosanct; keeping them work free unless “someone is going to die.”
Danielle’s favourite place is her farm, where she happily talks to her alpacas – and loves that they don’t talk back!
The farm provides a sanctuary from her busy city life and the space to think on other things outside the demands of her role. “I’m not worried about what the regulator is thinking when I’m using a chainsaw; I’m more worried about not cutting my foot off!”