Ihave never invested in Tesco, but I wish I had followed a friend who has been “in and out” of Tesco shares for many years – often making substantial profits. One example was when he sold shares, originally bought for 310p, at a price of 450p – and then bought back in at 312p earlier this year. By October 12, the shares were back up to 385p.

I have tried to persuade this friend of the attractions of Avocet Mining. But he never invested. If he had, I doubt he would have followed my disappointing pattern: first investing in September 2006 at 92.85p a share; increasing the stake at 95p the next month; adding more at just under £1 each in early 2007; failing to take any profits in 2007 and 2008 when the shares were over 200p; and buying more shares at 78p and 60p in October and December last year. Earlier this month, Avocet shares were 78.5p.