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Worst FTSE falls in history.

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    cafcfan said:

    LuckyReds said:

    IA said:

    Isn't Hargreaves a major funder of UKIP?

    Peter Hargreaves was a major funder of the Brexit campaign, however he is no longer an employee or director of Hargreaves Lansdown. Presumably he would still have financial interests in it though.

    However, Hargreaves Lansdowne as a company actively distanced itself from his Brexit support.
    Yes but he is still a major shareholder. As of this tax year, he'll be getting just a little less by way of dividend because my money will be going to another firm.
    Just out of interest - and not looking for an argument (on the contrary, I'll understand!) - is that on the basis of his Brexit support?
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    So far today my personal pension fund has lost 12 1/2 % of its value, how long before I make that up again? I've only got a couple of years left before I retire.
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    It's ok. Boris will apologise
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    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question
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    edited June 2016

    So far today my personal pension fund has lost 12 1/2 % of its value, how long before I make that up again? I've only got a couple of years left before I retire.

    ''The value of investments, and the income from it, can go down as well as up so you may get back less than you invested.''

    Is what they always tell me.
    image
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    Carter said:

    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question

    I never knew I'd been going to games with Gordon F***ing Gekko !!!!
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    LuckyReds said:

    cafcfan said:

    LuckyReds said:

    IA said:

    Isn't Hargreaves a major funder of UKIP?

    Peter Hargreaves was a major funder of the Brexit campaign, however he is no longer an employee or director of Hargreaves Lansdown. Presumably he would still have financial interests in it though.

    However, Hargreaves Lansdowne as a company actively distanced itself from his Brexit support.
    Yes but he is still a major shareholder. As of this tax year, he'll be getting just a little less by way of dividend because my money will be going to another firm.
    Just out of interest - and not looking for an argument (on the contrary, I'll understand!) - is that on the basis of his Brexit support?
    Yes.
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    My share portfolio is worth nothing now.
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    Carter said:

    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question

    I never knew I'd been going to games with Gordon F***ing Gekko !!!!
    Nah just money I direct debit into a portfolio each month. Kept simple, ftse obvious stuff only.

    Although I fancy myself as a Jordan Belfort
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    Carter said:

    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question

    You didn't lose anything if you didn't sell any.

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    MrOneLung said:

    Carter said:

    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question

    You didn't lose anything if you didn't sell any.

    True, just the paper value. It's a long term thing so I'm not going to have kittens just yet. I am concerned about the values of pensions and I've heard more than a few people say they have 'lost' x amount on their pension. Was this the case back in February and has been magnified today or are currency fluctuations affecting pensions as opposed to portfolios built purely on shares?

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    edited June 2016
    Never owned any shares directly other then the two Melexis ones, but having some money left in the account spent it all today at the bottom of the market. Didn't have a lot of money to spend but made £20 on marks and spencer. Flat on the bank and insurance stocks.

    All of these are keepers and so no money lost.

    Must admit to being slightly surprised the equity market didn't take a larger fall today. There we go, well anticipated the leavers.

    The bond markets, which i don't see too much of but which drive my business, have also not have as great an increase in the risk of borrowing (credit spread) as we had thought for our realistic Brexit scenario.

    I don't deal with these figures that much in my position but I think we only lost around £200m today and it could have been worse.

    We are still solvent.
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    So guys, what difference are the various credit rating downgradings going to make?
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    Don't think even the super clever quant analyst boys in our trading department know yet.

    They are focussing on increased volatility, but only the speculators would be putting money in where it lands.

    The uncertainty isn't going to help and the U.K. Bank share prices were down 20%. If I were punting, the banks will be ok, the cost of borrowing in the uk will rise.
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    DRAddick said:

    I must say you all seem very calm considering a financial earthquake has just happened in your country which will soon (or is already) affect the global market.... I work in the international business department of a bank here in China and thank goodness we don't have corporate customers who do import/export business in pounds... Currency fluctuations are never good for a country's economy and I reckon there will be a lot of British companies facing financial losses now that the pound is in free fall.

    Most of us have been there, done that. It's the little kids with no real experience of what to do that will be running around, panicking, chasing markets up and down. the reality is nothing has actually changed and nothing will change, in or out. The UK Will carry on trading, we will keep on crossing borders, as will the EU and the rest of the world. The Pound crashing hurts the rest of the world just as much as it does the UK. If we can't afford to buy goods because they are too expensive then it's somebody else's problem that they need to solve psq especially if our goods become a lot cheaper and undercut theirs. The Pound will be back where it started pretty soon, as will the stock markets. A lot of traders will have their fingers burnt in the meantime and a few lucky ones will make a huge profit and try and delutionally claim it was all down to their skills, whereas the reality will be they were lucky. In the meantime what really matters is who is going to be charlton's next signing and will England beat Iceland
    That is such a macro view. Things will happen to real people, like job losses, not just on paper markets.
    They will. I'm just not quite able to explain it in English (I'm Chinese). Many fields are interrelated. There could be a domino effect. The borrowing rates of your home currency will fluctuate accordingly too.

    It would be a disaster if say the Chinese currency depreciated by 10% against the US dollar in one day. But then again, our government won't let such thing happen because it would have a detrimental effect on many industries and thus a lot of people. It's truly unbelievable that many Lifers on here think the financial market and the value of the home currency only affect the bankers. I'm not going to comment on this issue any further as I said English is not my native language and..... no offence but reading some of the posts here I feel it would be like talking to a brick wall.
    That's part of the problem, Jessie. That's how we have ended up voting to leave. So many people refuse to listen to sense. This referendum was a mistake and votes were more based on emotional attachment to the past from the old and xenophobia from the masses than it was rational straight-thinking.

    So the successful inventor, entrepreneur and businessman James Dyson is just an emotional old xenophobe with no rational thought?
    No, he probably isn't. But the vast majority of the weight of economic and entrepreneurial expert opinion was on the remain side. That advice has been ignored by the people of England's regions, at our peril it would seem.
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    edited June 2016
    It's interesting that falls in other European markets and in the US overnight were far worse than the FTSE. I think the reason for this is the perception that the EU will now disintegrate as more countries vote to leave. In this scenario the UK will benefit. The perception that individual countries can not survive on their own two feet, make trade deals, manufacture, secure their borders, impose their own laws, and not prosper, is complete rubbish. The end of globalisition will be fantastic, think of how Greece nearly brought down the world economy and rolled on for years, terrifying markets around the world, all because they couldn't devalue their currency. All markets moving in tandem is good for no one. There should be no correlation between the Greek market and Australia for example. One should be able to pick winners and discard losers, but this has become increasingly difficult with global markets all moving together. Any country (or individual) that works hard and governs itself well, deserves, and should be allowed to prosper.
    The sooner the EU implodes altogether, the better. It may take some time to play itself out, but eventually, yesterday's decision will prove to be a turning point for the better.
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    edited June 2016

    Carter said:

    MrOneLung said:

    Carter said:

    Serious question. How come the pensions were not so affected in February when we had a bigger dip? I lost 4,000 off my own share portfolio this morning recovering to be only 2000 down by close. Forgive my naivety it's a genuine question

    You didn't lose anything if you didn't sell any.

    True, just the paper value. It's a long term thing so I'm not going to have kittens just yet. I am concerned about the values of pensions and I've heard more than a few people say they have 'lost' x amount on their pension. Was this the case back in February and has been magnified today or are currency fluctuations affecting pensions as opposed to portfolios built purely on shares?

    I imagine investor confidence plays a part also. Ie investment in the underlying companies held within the fund.

    UK house builders took a hit yesterday. Taylor Wimpey had 29.% wiped off their share value yesterday as foreign investment which makes a hugely material contribution to such company slumped. Hopefully it will correct itself.

    Still at least we'll be able to choose our own light bulbs now and I can get my dream job at Downham car wash once they jog on the eastern Europeans who've been blocking me from that line of work for far too long now.
    Where do you see yourself in 3 years Rodney, the main man at the front of the line with the jet wash gun or more low key at the end of the line in the polishing and detailing area?
    3 years? I expect to be long retired by then after all the prosperity the leavers are certain is coming our way. So I'll probably be bending over Cheryl Cole on my yacht as I sail down to my thameside mansion without having to look at grubby foreigners on the way.
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    aliwibble said:

    So guys, what difference are the various credit rating downgradings going to make?

    More Go Compare adverts
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    What the feck happened in February that caused no one to panic
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    DRAddick said:

    I must say you all seem very calm considering a financial earthquake has just happened in your country which will soon (or is already) affect the global market.... I work in the international business department of a bank here in China and thank goodness we don't have corporate customers who do import/export business in pounds... Currency fluctuations are never good for a country's economy and I reckon there will be a lot of British companies facing financial losses now that the pound is in free fall.

    Most of us have been there, done that. It's the little kids with no real experience of what to do that will be running around, panicking, chasing markets up and down. the reality is nothing has actually changed and nothing will change, in or out. The UK Will carry on trading, we will keep on crossing borders, as will the EU and the rest of the world. The Pound crashing hurts the rest of the world just as much as it does the UK. If we can't afford to buy goods because they are too expensive then it's somebody else's problem that they need to solve psq especially if our goods become a lot cheaper and undercut theirs. The Pound will be back where it started pretty soon, as will the stock markets. A lot of traders will have their fingers burnt in the meantime and a few lucky ones will make a huge profit and try and delutionally claim it was all down to their skills, whereas the reality will be they were lucky. In the meantime what really matters is who is going to be charlton's next signing and will England beat Iceland
    That is such a macro view. Things will happen to real people, like job losses, not just on paper markets.
    They will. I'm just not quite able to explain it in English (I'm Chinese). Many fields are interrelated. There could be a domino effect. The borrowing rates of your home currency will fluctuate accordingly too.

    It would be a disaster if say the Chinese currency depreciated by 10% against the US dollar in one day. But then again, our government won't let such thing happen because it would have a detrimental effect on many industries and thus a lot of people. It's truly unbelievable that many Lifers on here think the financial market and the value of the home currency only affect the bankers. I'm not going to comment on this issue any further as I said English is not my native language and..... no offence but reading some of the posts here I feel it would be like talking to a brick wall.
    That's part of the problem, Jessie. That's how we have ended up voting to leave. So many people refuse to listen to sense. This referendum was a mistake and votes were more based on emotional attachment to the past from the old and xenophobia from the masses than it was rational straight-thinking.

    So the successful inventor, entrepreneur and businessman James Dyson is just an emotional old xenophobe with no rational thought?
    He said 'more based', not 'totally based'.
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