Meanwhile at the boring end, Charter Savings Bank today lifted their savings rate on their Easy Acess (immediate unlimited withdrawals allowed) to 3.0%. It's possible it's only for existing savers, of which fortunately I'm one, but it's quite an aggressive move. I wonder if it has wider significance.
By the by as a long time critic of banks, and their regulators, I should concede that this is a nice competitive sector the UK has built up here in savings accounts. You have to hope all the little players are secure enough, but you are protected so long as you don't go above 85k with any one bank (albeit you have to watch out for hidden ownership of more than one bank brand, as I readon the Money Savings Expert forum, which I recommend if you want to join the 'rate-catchers". Now excuse me while I take particular pleasure in moving money out of Marcus By Goldman Sachs
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
Thanks for that redman. I read that fidelity article prior to my post. It basically confirms what I thought. The markets are expected to fall and yet some are already on the up. I'm still no closer to knowing what to do. I'm usually very good at calling the bottom of markets, but I'm struggling this time.
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
Thanks for that redman. I read that fidelity article prior to my post. It basically confirms what I thought. The markets are expected to fall and yet some are already on the up. I'm still no closer to knowing what to do. I'm usually very good at calling the bottom of markets, but I'm struggling this time.
An obvious option would be to drip feed your investment cash into equities in instalments over a period of months to smooth out any bumps. It wont make you the most profit but nor will it make you the greatest loss. (I suspect you've considered this already, but just in case...)
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
Thanks for that redman. I read that fidelity article prior to my post. It basically confirms what I thought. The markets are expected to fall and yet some are already on the up. I'm still no closer to knowing what to do. I'm usually very good at calling the bottom of markets, but I'm struggling this time.
An obvious option would be to drip feed your investment cash into equities in instalments over a period of months to smooth out any bumps. It wont make you the most profit but nor will it make you the greatest loss. (I suspect you've considered this already, but just in case...)
Quite. I'm invested in the FTSE already & am thinking do I withdraw, wait for another large fall and then get back in? Alternatively should I be investing not cashing in? I'm just thinking aloud tbh. I don't know whether to put it in or take it out
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
Thanks for that redman. I read that fidelity article prior to my post. It basically confirms what I thought. The markets are expected to fall and yet some are already on the up. I'm still no closer to knowing what to do. I'm usually very good at calling the bottom of markets, but I'm struggling this time.
An obvious option would be to drip feed your investment cash into equities in instalments over a period of months to smooth out any bumps. It wont make you the most profit but nor will it make you the greatest loss. (I suspect you've considered this already, but just in case...)
Quite. I'm invested in the FTSE already & am thinking do I withdraw, wait for another large fall and then get back in? Alternatively should I be investing not cashing in? I'm just thinking aloud tbh. I don't know whether to put it in or take it out
Likewise, I shifted quite a bit out of US funds when the FTSE was low into FTSE funds, I'm now toying with doing the reverse and putting it back into the US S&P! Decisions decisions.
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
Thanks for that redman. I read that fidelity article prior to my post. It basically confirms what I thought. The markets are expected to fall and yet some are already on the up. I'm still no closer to knowing what to do. I'm usually very good at calling the bottom of markets, but I'm struggling this time.
An obvious option would be to drip feed your investment cash into equities in instalments over a period of months to smooth out any bumps. It wont make you the most profit but nor will it make you the greatest loss. (I suspect you've considered this already, but just in case...)
Quite. I'm invested in the FTSE already & am thinking do I withdraw, wait for another large fall and then get back in? Alternatively should I be investing not cashing in? I'm just thinking aloud tbh. I don't know whether to put it in or take it out
Likewise, I shifted quite a bit out of US funds when the FTSE was low into FTSE funds, I'm now toying with doing the reverse and putting it back into the US S&P! Decisions decisions.
I have been meaning to follow up my moans about 2022 with a few remarks about the bright spots, which also call for some thanks to a few people on here. This was the year I discovered the joys of income. Of course this is partly thanks to the surge in interest rates which heralded savings account opps. which were unthinkable even at the beginning of the year, but the portfolio of funds my IFA put together with an eye on delivering income have done well, and I now have a decent portfolio of shares which deliver good dividends. Some of them I chose after suggestions from @Rob7Lee (aka Mr Direct Line) and @WishIdStayedinthePub. Of course neither were offering pro advice, and another suggestion from someone who normally makes good calls has gone a bit pear. But anyway you make your own bed investing, and you lie in it. Thanks for the tips that have done well guys. The one I'm most pleased with is a company I did some work for just before shutting up shop so I got to see them up close and personal. It's Novo Nordisk, a Danish pharma. Their core business is diabetes treatments, where they are a strong market leader, but this year, soon after I bought, they announced impressive trial results for an anti-obesity drug. They are now up 39% since I bought this year, and I was buying mainly for reliable dividends! (unfortunately it's not traded on the FTSE)
Income isn't a priority if you are half my age but I'm very happy with how this has gone, especially as the savings accounts look set to stay bouyant for most of this year. I opened a spreadsheet to log the income as it rolls in, and I include the Premium Bonds there, so generally I can enter a happy update each month, which is an excellent antidote to contemplating the wreckage of bloody Vanguard Life Strategy
You are most welcome, @PragueAddick. If I remember rightly, my suggestions were all about income with no debt or low risk of default, and were marked down at the time. So they should hopefully do okay! It was effectively a large part of what I chose for my wife's pension transfer in and I know that's done ok. I managed to get the same income for 40% of the value of the pot we transferred in.
A quick update on my transfer from HL to Interactive Brokers. I've done one account and there have been quite a few teething problems! Exec summary is:
customer service is a bit slow (can't work out if that's the broker or SIPP administrator) configuration is fiddly and clunky, (definitely due to the split of responsibilities between the broker and admin) the interface is not nearly as simple as HL - which suits me but wouldn't suit everyone the product and functionality is leagues ahead most importantly, it has saved me hundreds of pounds in fees just since 12/12.
There's interest on cleared cash (2-3.3%), plus ludicrously low fees for trading (0-2 pounds in most cases), plus ludicrously low fx charges (effectively cash is held in multi-currency accounts that trade at wholesale rates). e.g. one US purchase that would have cost £100 on HL, cost £1.05.
You have much more control over orders that means my entry and exit points have improved and are less stressful. It looks like they will also pay you for borrowing stock. You do have to pay for market data (pay for what you use) but then most of that is rebated with relatively low trading activity. On top of all that, I can trade (low risk) options strategies inside a SIPP.
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Sounds as if I bought about the same number as you, @PragueAddick
I agree there's an element of management fuck up at best, duplicity at worst. If one week of frosty weather in DECEMBER FFS can lead to the dividend being cancelled then the business was extremely fragile. Yet only in November did the company provide reassurance regarding the safety of the dividend. In my book that is a shitshow, and the CEO belongs with the other snake oil salesmen on AIM. Happily, gains elsewhere will cover this 25% fall, but it has dragged down the prices of better run companies in the sector.
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Sounds as if I bought about the same number as you, @PragueAddick
I agree there's an element of management fuck up at best, duplicity at worst. If one week of frosty weather in DECEMBER FFS can lead to the dividend being cancelled then the business was extremely fragile. Yet only in November did the company provide reassurance regarding the safety of the dividend. In my book that is a shitshow, and the CEO belongs with the other snake oil salesmen on AIM. Happily, gains elsewhere will cover this 25% fall, but it has dragged down the prices of better run companies in the sector.
Yes I bought the same amount of L&G at the same time. Grrrr.
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Thats true, you did say that, but I didnt do that as I had bought it mainly for the income. It now turns out I wont get any sodding income.
They should headhunt Sergei the Meerkat to take over as CEO
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Sounds as if I bought about the same number as you, @PragueAddick
I agree there's an element of management fuck up at best, duplicity at worst. If one week of frosty weather in DECEMBER FFS can lead to the dividend being cancelled then the business was extremely fragile. Yet only in November did the company provide reassurance regarding the safety of the dividend. In my book that is a shitshow, and the CEO belongs with the other snake oil salesmen on AIM. Happily, gains elsewhere will cover this 25% fall, but it has dragged down the prices of better run companies in the sector.
Your lucky the freeze period wasn't between Christmas and new year, losses would have doubled minimum.
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Thats true, you did say that, but I didnt do that as I had bought it mainly for the income. It now turns out I wont get any sodding income.
They should headhunt Sergei the Meerkat to take over as CEO
Can I send you a list of my shareholdings, @Rob7Lee, so you can alert me the next time your crystal ball is bang on the money?
If only.
DLG are a good company, they'll bounce back.
Insurance by its very nature can be volatile. Perils such as freeze (burst pipes) are particularly difficult, a tank/mains in a loft bursting in a 3 bed semi unnoticed for 15 minutes is £150k minimum. It's a difficult one to combat, we've all insulated our lofts like mad the last 20 years - but how many people keep tanks and pipes uncovered to allow a little heat up there?
It's always worst if that cold spell is over Christmas when people are away.
Now, if only there was a way that you could invest into a number of shares so that your investment was both protected from 1 (or maybe a few) shares falling in value and also (because this "thing" invests into a number of income generating companies) will pay out a modest income every 6 months. 🤔
What would I call it ? A collection of shares ? (too clunky). An Open Ended Investment Company ? (too wordy- but there might be an acronym out there somewhere).
Now, if only there was a way that you could invest into a number of shares so that your investment was both protected from 1 (or maybe a few) shares falling in value and also (because this "thing" invests into a number of income generating companies) will pay out a modest income every 6 months. 🤔
What would I call it ? A collection of shares ? (too clunky). An Open Ended Investment Company ? (too wordy- but there might be an acronym out there somewhere).
Good point, well made. Looking forward to the educated counter-arguments...
Just when I thought this income lark was a nice calm way to invest, I get an alert from H-L that the Direct Line management has fessed up to fucking up, and the stock promptly sheds 20% - because among other things they have decided to cancel the dividend!!!!
Now I’m thankful that I only committed 2k to these cowboys. Will be selling as soon as I get near to parity with the price I paid.
What does Mr Direct Line @Rob7Lee think about this?😉
Please see my post of 6th Jan suggesting suggesting taking some profit!!
Not sure the management Fcuked up, not unless they control the weather they'll bounce back, shares back to around when you bought them?
Thats true, you did say that, but I didnt do that as I had bought it mainly for the income. It now turns out I wont get any sodding income.
They should headhunt Sergei the Meerkat to take over as CEO
Profit is income.......
weeelll, yes. But it involves making calls which some will find quite stressful to make, especially if the purpose is to provide steady income in older age...sonny
My issue is the sudden cancelling of the dividend. I suppose the learning is, if the yield is quite high, you might expect volatile decision-making as the price of it, and it's important to build a base of less excitable but rock solid companies like P&G
Now, if only there was a way that you could invest into a number of shares so that your investment was both protected from 1 (or maybe a few) shares falling in value and also (because this "thing" invests into a number of income generating companies) will pay out a modest income every 6 months. 🤔
What would I call it ? A collection of shares ? (too clunky). An Open Ended Investment Company ? (too wordy- but there might be an acronym out there somewhere).
Good point, well made. Looking forward to the educated counter-arguments...
I took a gamble, need to raise $75,000 double quick to take advantage of a fantastic sports investment opportunity.
Now, if only there was a way that you could invest into a number of shares so that your investment was both protected from 1 (or maybe a few) shares falling in value and also (because this "thing" invests into a number of income generating companies) will pay out a modest income every 6 months. 🤔
What would I call it ? A collection of shares ? (too clunky). An Open Ended Investment Company ? (too wordy- but there might be an acronym out there somewhere).
Good point, well made. Looking forward to the educated counter-arguments...
I'm sure it's interesting only to me, but with a start point of 1 April 2022 (selected as it's the point at which I gave up work and therefore need to generate some income), my returns have been:
Shares chosen by me (33% of my investments excluding cash, 14 shares): +10.2% of which 4.0% has been dividends
Funds (67% exc cash, mainly Vantage 80 and 100% equity plus a couple of loser BG funds): -1.4%
Total return approx 2.3% in just over 9 months.
Golfie's point about diversification is well made. Of 14 current shareholdings, 9 have made a profit and 5 a loss. If you take out my two top performers, Total Energies and the lottery that is Zynex, I'd have generated absolutely zero returns picking my own stocks.
I was one who bought a chunk of Zynex shares after TS took over, held onto them until earlier this week when they finally went into the black. Took some of @Rob7Lee advice and took the profit, but dont think ill be going back there again.......lottery indeed.
FTSE 100 breaks 7800 currently 7832 the record close was 7903 in May 2018. However, as always, I have some real high flyers and an equal proportion of bummers. Although, I am showing my portfolio at the highest it’s ever been.
I was one who bought a chunk of Zynex shares after TS took over, held onto them until earlier this week when they finally went into the black. Took some of @Rob7Lee advice and took the profit, but dont think ill be going back there again.......lottery indeed.
I've considered cashing out Zynex for a fairly decent profit but it's the only speculative share among my otherwise sensible and solid holdings, and I've decided to hang on to see how far it might go. If it doubles I'll sell half and if it flops, well, it's not a huge holding anyway.
FTSE over 7800 for only the 3rd time ever, doom and gloom MSM now reversing on their recession agenda’s, I have not dabbled last 18 months on markets, particularly AIM, opportunities aplenty now out there, time to get my magic xls going again me thinks to track the runners & riders, one day Rodders😀😀
FTSE over 7800 for only the 3rd time ever, doom and gloom MSM now reversing on their recession agenda’s, I have not dabbled last 18 months on markets, particularly AIM, opportunities aplenty now out there, time to get my magic xls going again me thinks to track the runners & riders, one day Rodders😀😀
Comments
By the by as a long time critic of banks, and their regulators, I should concede that this is a nice competitive sector the UK has built up here in savings accounts. You have to hope all the little players are secure enough, but you are protected so long as you don't go above 85k with any one bank (albeit you have to watch out for hidden ownership of more than one bank brand, as I readon the Money Savings Expert forum, which I recommend if you want to join the 'rate-catchers". Now excuse me while I take particular pleasure in moving money out of Marcus By Goldman Sachs
However thought this article worthy of passing on
https://www.fidelity.co.uk/markets-insights/markets/global/get-ready-for-market-lift-off-in-2023/
beware conclusion in taking too much from headline. Sounds like it would be better saying over next 3 or 4 years rather than 2023.
For further background MSCI low in October was 2362, now it is 2679, a gain of 13.4% from the low. In USD terms of course
It basically confirms what I thought.
The markets are expected to fall and yet some are already on the up.
I'm still no closer to knowing what to do.
I'm usually very good at calling the bottom of markets, but I'm struggling this time.
I'm just thinking aloud tbh.
I don't know whether to put it in or take it out
A quick update on my transfer from HL to Interactive Brokers. I've done one account and there have been quite a few teething problems! Exec summary is:
customer service is a bit slow (can't work out if that's the broker or SIPP administrator)
configuration is fiddly and clunky, (definitely due to the split of responsibilities between the broker and admin)
the interface is not nearly as simple as HL - which suits me but wouldn't suit everyone
the product and functionality is leagues ahead
most importantly, it has saved me hundreds of pounds in fees just since 12/12.
There's interest on cleared cash (2-3.3%), plus ludicrously low fees for trading (0-2 pounds in most cases), plus ludicrously low fx charges (effectively cash is held in multi-currency accounts that trade at wholesale rates). e.g. one US purchase that would have cost £100 on HL, cost £1.05.
You have much more control over orders that means my entry and exit points have improved and are less stressful. It looks like they will also pay you for borrowing stock. You do have to pay for market data (pay for what you use) but then most of that is rebated with relatively low trading activity. On top of all that, I can trade (low risk) options strategies inside a SIPP.
Not sure the management Fcuked up, not unless they control the weather
I agree there's an element of management fuck up at best, duplicity at worst.
If one week of frosty weather in DECEMBER FFS can lead to the dividend being cancelled then the business was extremely fragile. Yet only in November did the company provide reassurance regarding the safety of the dividend. In my book that is a shitshow, and the CEO belongs with the other snake oil salesmen on AIM.
Happily, gains elsewhere will cover this 25% fall, but it has dragged down the prices of better run companies in the sector.
DLG are a good company, they'll bounce back.
Insurance by its very nature can be volatile. Perils such as freeze (burst pipes) are particularly difficult, a tank/mains in a loft bursting in a 3 bed semi unnoticed for 15 minutes is £150k minimum. It's a difficult one to combat, we've all insulated our lofts like mad the last 20 years - but how many people keep tanks and pipes uncovered to allow a little heat up there?
It's always worst if that cold spell is over Christmas when people are away.
What would I call it ? A collection of shares ? (too clunky). An Open Ended Investment Company ? (too wordy- but there might be an acronym out there somewhere).
My issue is the sudden cancelling of the dividend. I suppose the learning is, if the yield is quite high, you might expect volatile decision-making as the price of it, and it's important to build a base of less excitable but rock solid companies like P&G
I've considered cashing out Zynex for a fairly decent profit but it's the only speculative share among my otherwise sensible and solid holdings, and I've decided to hang on to see how far it might go. If it doubles I'll sell half and if it flops, well, it's not a huge holding anyway.