Just a comment on something said earlier. NYSE did not close to reduce the hysteria in the market after 9.11. It closed because it was just a few blocks from the WTC. The was no power, no comms and the area was evacuated. The whole area was covered in debris. I believe that had to run cables at ground level to get everything up and running while the infrastructure was repaired.
The other exchanges closed as it viewed as almost impossible to run an orderly market without NYSE up. If the attacks had all hit Washington, I’m pretty sure they would have reopened next day.
Apologies if this has been covered before, but if you wanted to open a bank account and deposit a sum that would be covered by the Government's 80k guarantee, which would you choose at the moment, other than HSBC? I was going to try Santander, but my wife raised doubts.
Apologies if this has been covered before, but if you wanted to open a bank account and deposit a sum that would be covered by the Government's 80k guarantee, which would you choose at the moment, other than HSBC? I was going to try Santander, but my wife raised doubts.
Sooooo.....has anybody panic-bought or sold in this period?
I've kept hold of all my funds, but have just written off my potential purchase of a new yacht and flat overlooking the Valley.
I asked my FA if it might be cashing up all the investments and sticking the funds in the bank back in Feb, but he said to play the long game. Possibly regretting listening now.
Sooooo.....has anybody panic-bought or sold in this period?
I've kept hold of all my funds, but have just written off my potential purchase of a new yacht and flat overlooking the Valley.
I asked my FA if it might be cashing up all the investments and sticking the funds in the bank back in Feb, but he said to play the long game. Possibly regretting listening now.
I pretty much did that last year - certainly almost all equities based investments.
I can't say it was incredible foresight on my part, rather an age related risk profile shift. Safe to say that I don't regret it.
The problem I am finding is that nobody knows how long the long game is.
Easy.
If you work in the finance industry and desperate to get people trading again to earn your commission, you will say this will all be over by the summer and things will be back to normal soon thereafter.
If you are looking at events through anyone elses' eyes, you will see hundreds of thousands of people dying, unemployment soaring, perfectly profitable companies facing imminent bankruptcy, economies facing collapse with no obvious ways of ending the lockdowns and millions facing financial ruin. This could be a very long game.
Apologies if this has been covered before, but if you wanted to open a bank account and deposit a sum that would be covered by the Government's 80k guarantee, which would you choose at the moment, other than HSBC? I was going to try Santander, but my wife raised doubts.
It's a couple of weeks since markets hit low points, and they are now about 8-10% above, despite a lacklustre day today. Movements in the last week have also been far less violent. So inevitably we can ask, did markets find a floor?
I'm not counting on it myself. I'm in the camp that says they've gone too low to sell, and not low enough to buy. But since I'm a potential buyer, because I hold cash (more by accident than design), I've got a list of funds I would buy, and set target buy prices for them, which are generally 5% below their lowest this year (and then 10%). I managed to make a profit already from funds I bought near the bottom, most notably on Axa Framlington Biotech, which is up 13% since I bought on 17 March, but I am not talking big numbers here. I like to talk the talk, but my single biggest holding is still Premium Bonds :-)
Don't forget I'm holding all your index predictors for 31 July :-) Right now most of them (including mine) look optimistic, but let's see.
I had an update from JPM this afternoon. I usually go to their quarterly "Guide to the markets" which is very informative & come away with a great pack of stats & figures. Due to lockdown they just emailed it. Good reading but hard to follow when you don't have a speaker to go through it all.
Even though they have updated it to 30th March it's hard to take seriously some of the figures as we all know that things are going to get worse before they get better.
It's a shame I can't post some of the charts they include in the pack, but picking out just 2 it shows the purchasing managers index showing less than 50 for virtually all countries (above 50 & it implies companies think things are on the up, below 50 & a recession is looming) and how GDP this year around the world is expected to be minus 2%-3%.
The other thing is how short timewise the falls (or bear markets) are compared to the rises (bull markets). And that usually a bull market will outperform a bear market in terms of %'s gained & lost.
So......hang on in there & I'm sure the markets will right themselves & the pain will be short lived.
So in our Capitalist Democracy, the Government once again tells Privately owned businesses what to do. I have lost around £2000 of retirement income from the no dividend policy. An equally Lloyds shares fell another 4p taking another £3500 off my share value, so well over £60,000 down. We will now have to lend money that will never be repaid in some cases and give holidays on mortgage, credit card and loan repayments. Oh and don’t forget the £500 interest free overdrafts. How come M&S don’t have to give out free pants, or Wetherspoon free Beer. Holding shares in a UK bank is the worst thing I have ever done, we are just here to hold up this country , at any time of crisis.
Yes, I appreciate these are trying times. But, I paid for the HBOS crisis, I paid to prop up the economy through PPI, and now this...... Lloyds Bank appears to be the Government's rainy day piggy bank, have a dip in for any crisis.
It's a couple of weeks since markets hit low points, and they are now about 8-10% above, despite a lacklustre day today. Movements in the last week have also been far less violent. So inevitably we can ask, did markets find a floor?
I'm not counting on it myself. I'm in the camp that says they've gone too low to sell, and not low enough to buy. But since I'm a potential buyer, because I hold cash (more by accident than design), I've got a list of funds I would buy, and set target buy prices for them, which are generally 5% below their lowest this year (and then 10%). I managed to make a profit already from funds I bought near the bottom, most notably on Axa Framlington Biotech, which is up 13% since I bought on 17 March, but I am not talking big numbers here. I like to talk the talk, but my single biggest holding is still Premium Bonds :-)
Don't forget I'm holding all your index predictors for 31 July :-) Right now most of them (including mine) look optimistic, but let's see.
Mine was 5300 (page 55). Still think that might be in the right area after the final huge collapse that must be due soon and a minor rebound over the coming months.
I had an update from JPM this afternoon. I usually go to their quarterly "Guide to the markets" which is very informative & come away with a great pack of stats & figures. Due to lockdown they just emailed it. Good reading but hard to follow when you don't have a speaker to go through it all.
Even though they have updated it to 30th March it's hard to take seriously some of the figures as we all know that things are going to get worse before they get better.
It's a shame I can't post some of the charts they include in the pack, but picking out just 2 it shows the purchasing managers index showing less than 50 for virtually all countries (above 50 & it implies companies think things are on the up, below 50 & a recession is looming) and how GDP this year around the world is expected to be minus 2%-3%.
The other thing is how short timewise the falls (or bear markets) are compared to the rises (bull markets). And that usually a bull market will outperform a bear market in terms of %'s gained & lost.
So......hang on in there & I'm sure the markets will right themselves & the pain will be short lived.
So in our Capitalist Democracy, the Government once again tells Privately owned businesses what to do. I have lost around £2000 of retirement income from the no dividend policy. An equally Lloyds shares fell another 4p taking another £3500 off my share value, so well over £60,000 down. We will now have to lend money that will never be repaid in some cases and give holidays on mortgage, credit card and loan repayments. Oh and don’t forget the £500 interest free overdrafts. How come M&S don’t have to give out free pants, or Wetherspoon free Beer. Holding shares in a UK bank is the worst thing I have ever done, we are just here to hold up this country , at any time of crisis.
Yes, I appreciate these are trying times. But, I paid for the HBOS crisis, I paid to prop up the economy through PPI, and now this...... Lloyds Bank appears to be the Government's rainy day piggy bank, have a dip in for any crisis.
Sorry Raphie, I know you used to work for them but that's no reason why you should continue to hold on them. I'm sure you don't need me to tell you that holding individual shares is a very risky strategy. If I were you I'd bite the bullet & sell them, putting the money into a more balanced portfolio.
So in our Capitalist Democracy, the Government once again tells Privately owned businesses what to do. I have lost around £2000 of retirement income from the no dividend policy. An equally Lloyds shares fell another 4p taking another £3500 off my share value, so well over £60,000 down. We will now have to lend money that will never be repaid in some cases and give holidays on mortgage, credit card and loan repayments. Oh and don’t forget the £500 interest free overdrafts. How come M&S don’t have to give out free pants, or Wetherspoon free Beer. Holding shares in a UK bank is the worst thing I have ever done, we are just here to hold up this country , at any time of crisis.
Yes, I appreciate these are trying times. But, I paid for the HBOS crisis, I paid to prop up the economy through PPI, and now this...... Lloyds Bank appears to be the Government's rainy day piggy bank, have a dip in for any crisis.
Sorry Raphie, I know you used to work for them but that's no reason why you should continue to hold on them. I'm sure you don't need me to tell you that holding individual shares is a very risky strategy. If I were you I'd bite the bullet & sell them, putting the money into a more balanced portfolio.
I've got a load of Lloyds shares and yes maybe I'll consider selling some if they double back to the 60p range, but I'll not be selling at an all time low.
So in our Capitalist Democracy, the Government once again tells Privately owned businesses what to do. I have lost around £2000 of retirement income from the no dividend policy. An equally Lloyds shares fell another 4p taking another £3500 off my share value, so well over £60,000 down. We will now have to lend money that will never be repaid in some cases and give holidays on mortgage, credit card and loan repayments. Oh and don’t forget the £500 interest free overdrafts. How come M&S don’t have to give out free pants, or Wetherspoon free Beer. Holding shares in a UK bank is the worst thing I have ever done, we are just here to hold up this country , at any time of crisis.
Yes, I appreciate these are trying times. But, I paid for the HBOS crisis, I paid to prop up the economy through PPI, and now this...... Lloyds Bank appears to be the Government's rainy day piggy bank, have a dip in for any crisis.
Sorry Raphie, I know you used to work for them but that's no reason why you should continue to hold on them. I'm sure you don't need me to tell you that holding individual shares is a very risky strategy. If I were you I'd bite the bullet & sell them, putting the money into a more balanced portfolio.
I've got a load of Lloyds shares and yes maybe I'll consider selling some if they double back to the 60p range, but I'll not be selling at an all time low.
They might be at an all time low today........but come Monday that all time low could be even lower.
Comments
That's £38 I'll never get back.
I've kept hold of all my funds, but have just written off my potential purchase of a new yacht and flat overlooking the Valley.
If you work in the finance industry and desperate to get people trading again to earn your commission, you will say this will all be over by the summer and things will be back to normal soon thereafter.
If you are looking at events through anyone elses' eyes, you will see hundreds of thousands of people dying, unemployment soaring, perfectly profitable companies facing imminent bankruptcy, economies facing collapse with no obvious ways of ending the lockdowns and millions facing financial ruin. This could be a very long game.
I'm not counting on it myself. I'm in the camp that says they've gone too low to sell, and not low enough to buy. But since I'm a potential buyer, because I hold cash (more by accident than design), I've got a list of funds I would buy, and set target buy prices for them, which are generally 5% below their lowest this year (and then 10%). I managed to make a profit already from funds I bought near the bottom, most notably on Axa Framlington Biotech, which is up 13% since I bought on 17 March, but I am not talking big numbers here. I like to talk the talk, but my single biggest holding is still Premium Bonds :-)
Don't forget I'm holding all your index predictors for 31 July :-) Right now most of them (including mine) look optimistic, but let's see.
Even though they have updated it to 30th March it's hard to take seriously some of the figures as we all know that things are going to get worse before they get better.
It's a shame I can't post some of the charts they include in the pack, but picking out just 2 it shows the purchasing managers index showing less than 50 for virtually all countries (above 50 & it implies companies think things are on the up, below 50 & a recession is looming) and how GDP this year around the world is expected to be minus 2%-3%.
The other thing is how short timewise the falls (or bear markets) are compared to the rises (bull markets). And that usually a bull market will outperform a bear market in terms of %'s gained & lost.
So......hang on in there & I'm sure the markets will right themselves & the pain will be short lived.
Yes, I appreciate these are trying times. But, I paid for the HBOS crisis, I paid to prop up the economy through PPI, and now this...... Lloyds Bank appears to be the Government's rainy day piggy bank, have a dip in for any crisis.