His Sharesies app home screen would make any investor wince – total return down 43 per cent, or $1.15 million last year from a total of $2.6m invested.

But Phil Richards tells Markets with Madison he isn’t bothered, because it’s only a paper (or phone screen) loss – he doesn’t plan to cash in and realise it any time soon.

“But I still don’t want to tell my wife,” he joked.

Richards said he had made most of the loss back by early this year. However, he wanted to speak about his significant losses publicly to highlight the importance of attitude when investing.

“I haven’t lost it, it’s coming back,” he said.

“In 2021 everyone was an investing legend, everyone made money. But last year, everyone came back to earth.”

He shared his investment story and the stocks that caused his large losses, on today’s episode of Markets with Madison.

Get investment analysis and insights from the experts on Markets with Madison every Monday and Friday on the NZ Herald.

Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.