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Savings and Investments thread
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5x£25 for Mrs Chaz, 2x£25 for junior and bugger all for me
Even the MIL got 2x £25.
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Wow. FTSE took a massive U turn this afternoon. It had been up most of the day but I expect it got spooked by the Dow opening lower as it finished down 1.5% (it had been up over 1% before lunch).
Dow currently down 2.5%.0 -
I also saw a news item on the BBC business section saying that the value of Apple is now bigger than the entire constituents of the FTSE100. That is mad.0
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Agreed. NASDAQ down almost 5%0
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That is truly crazy, heard that on the LBC business update yesterday and it just makes no sense. I understand perfectly about valuation methods etc, but even then I can't stretch to it being worth anywhere near as much as the FTSE 100.golfaddick said:I also saw a news item on the BBC business section saying that the value of Apple is now bigger than the entire constituents of the FTSE100. That is mad.
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Read that the US markets were spooked by the big 5 tech stocks. Funny because I read just this morning (so before the US markets opened) that Baillie Gifford were reducing their holdings in these stocks, mainly due to being over weight in them & exceeding their maximum permitted holdings. Anyone who has held BG American, Discovery or theur Investment Trusts over the past 12-18 months will know how much these have increased because of these holdings. I doubt very much a sale order by just BG had anything to do with the sell off later today.........bust just a coincidence ??2
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Well I would certainly say that BG have shown there why you rate them, mate. My first instinct is to say "correction" and not react. If i recall the exact definitions used correctly, a BBC biz correspondent said the FAANGS had been up over 50% in the last 12 months whereas a wider index of US stocks, excluding the tech giants is down 2% on the same period.golfaddick said:Read that the US markets were spooked by the big 5 tech stocks. Funny because I read just this morning (so before the US markets opened) that Baillie Gifford were reducing their holdings in these stocks, mainly due to being over weight in them & exceeding their maximum permitted holdings. Anyone who has held BG American, Discovery or theur Investment Trusts over the past 12-18 months will know how much these have increased because of these holdings. I doubt very much a sale order by just BG had anything to do with the sell off later today.........bust just a coincidence ??
And that has been why so many of us have been pleasantly surprised at the resilience of our portfolios since the pandemic- driven slump in March. No such thing as a free lunch, we just got the bill. I'm not planning any action myself, other than perhaps considering buying some of those BG funds!
I also have to say that anything which whacks the US markets in the next two months is good in my book as it curbs Trump's inane attempts to use their high values as some kind of vindication of his "policies". I'll happily pay for that particular lunch.0 -
3 x £25 this month
pleased with that - will cover a bit of the vet’s bill0 -
https://www.theguardian.com/money/2020/sep/21/nsi-savings-rates-premium-bonds-prizes-direct-saver-investment-account-isas?CMP=Share_iOSApp_OtherInevitable I suppose but really savage cuts to interest rates. Where now???0
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That’s a significant cut. Where now indeed. Stock market down almost 4% this morning.0
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Great, just great :-(Chaz Hill said:https://www.theguardian.com/money/2020/sep/21/nsi-savings-rates-premium-bonds-prizes-direct-saver-investment-account-isas?CMP=Share_iOSApp_OtherInevitable I suppose but really savage cuts to interest rates. Where now???0 -
Brilliant.
I had an ISA reach its maturity two months ago and stuck 22k in premium bonds.0 -
Really should have kept the money in the ISA. Schoolboy error.blackpool72 said:Brilliant.
I had an ISA reach its maturity two months ago and stuck 22k in premium bonds.
With all the stockmarkets falling today you may find that dipping your toe back into equities might be a good idea soon. I can see the FTSE100 falling to 5500 again & with no deal Brexit on the horizon even 5000 might be in the cards. 5000-5500 would be a 30% discount on where it was back in early February.0 -
Agree, but as always I would do it on a monthly basis rather than all in one. Or a variant, put some in nowish, and then set yourself a target of another chunk if it drops a further 5%, and repeat..golfaddick said:
Really should have kept the money in the ISA. Schoolboy error.blackpool72 said:Brilliant.
I had an ISA reach its maturity two months ago and stuck 22k in premium bonds.
With all the stockmarkets falling today you may find that dipping your toe back into equities might be a good idea soon. I can see the FTSE100 falling to 5500 again & with no deal Brexit on the horizon even 5000 might be in the cards. 5000-5500 would be a 30% discount on where it was back in early February.0 -
Out of interest I had a letter from a bank I took out a mortgage with back in 2007 & had a linked savings account. I paid off the mortgage in 2013 when I sold the house & forgot about the linked account. It was opened with £10 & the letter asked what I now wanted to do with the money.
The interest rate on it is now 0.01%. I think I'll just take back the £10 & whatever pence has accrued thanks.0 -
https://www.theguardian.com/money/2020/sep/21/britons-eu-uk-bank-accounts-closed-lloyds-barclays-brexit?CMP=Share_iOSApp_OtherThis could make things messy for some!0
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Close your account and transfer money to Santander ?Chaz Hill said:https://www.theguardian.com/money/2020/sep/21/britons-eu-uk-bank-accounts-closed-lloyds-barclays-brexit?CMP=Share_iOSApp_OtherThis could make things messy for some!0 -
Some bad news today for the Premium Bond fans (me included): https://www.bbc.co.uk/news/business-542320180
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An option for some perhaps but they don’t operate fully across Europe and are “keeping the situation under review”.blackpool72 said:
Close your account and transfer money to Santander ?Chaz Hill said:https://www.theguardian.com/money/2020/sep/21/britons-eu-uk-bank-accounts-closed-lloyds-barclays-brexit?CMP=Share_iOSApp_OtherThis could make things messy for some!0 -
Banksy prices hit new heights this week, records broken at sothebys.0
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The cut in Income Bonds from market leader 1.16% to 0.01% is just absurd.
This almost borders on sharp practice because I can only assume that having got everyone's money, they must be hoping people just leave it with the NSI and don't move their savings to an account with a higher rate of interest.
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https://www.theguardian.com/money/2020/sep/21/nsi-savings-rates-premium-bonds-prizes-direct-saver-investment-account-isasFortune 82nd Minute said:The cut in Income Bonds from market leader 1.16% to 0.01% is just absurd.
This almost borders on sharp practice because I can only assume that having got everyone's money, they must be hoping people just leave it with the NSI and don't move their savings to an account with a higher rate of interest.
sharp practice indeed
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I opened an income bond account 3_weeks ago. Grrr.Fortune 82nd Minute said:The cut in Income Bonds from market leader 1.16% to 0.01% is just absurd.
This almost borders on sharp practice because I can only assume that having got everyone's money, they must be hoping people just leave it with the NSI and don't move their savings to an account with a higher rate of interest.0 -
Coventry Building Society have just released an instant access account paying 1.20% (2 withdrawals a year). Get in quick if interested as I'm sure it will close very soon.1
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was just about to invest a sizeable chunk. still think I will as rates elsewhere are dire and at least there is still a chance of a prize even if reduced. it's the hope that kills you !!Chaz Hill said:https://www.theguardian.com/money/2020/sep/21/nsi-savings-rates-premium-bonds-prizes-direct-saver-investment-account-isas?CMP=Share_iOSApp_OtherInevitable I suppose but really savage cuts to interest rates. Where now???0 -
Still works out a 1% equivalent on average on the Premium Bonds and as you say always the chance of the big one. They are still keeping the two £1m prizes but the £100k down from 7 to 4. I will also use some of my other NS&I savings to buy more Premium Bonds when the rates go down. Bunch of Gits all the same.LargeAddick said:
was just about to invest a sizeable chunk. still think I will as rates elsewhere are dire and at least there is still a chance of a prize even if reduced. it's the hope that kills you !!Chaz Hill said:https://www.theguardian.com/money/2020/sep/21/nsi-savings-rates-premium-bonds-prizes-direct-saver-investment-account-isas?CMP=Share_iOSApp_OtherInevitable I suppose but really savage cuts to interest rates. Where now???0 -
With markets globally dropping opportunities open up on sectors and stocks that benefitted from last major drop, a decent recovery some way off though, will be looking again at shares I have sold over the last 9-6 months. Pretty miffed though with NS&I
Anyone got any good share tips?0 -
Especially if the BOE bring in negative interest rates.Fortune 82nd Minute said:Coventry Building Society have just released an instant access account paying 1.20% (2 withdrawals a year). Get in quick if interested as I'm sure it will close very soon.
I was reading earlier that the Fed have said that they won't be going in that direction & that US interest rates will be in the range of between 0%-0.25% for at least the next 3 years and probably longer.
Jupiter Asset Management (for it was they that had produced this article) said that they are against negative interest rates. This is where depositors have to PAY to hold money with a bank & borrowers get PAID to borrow money.
Get used to the new normal.
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Interesting times, I don't see negative interest rates but then I didn't see COVID coming........!
I had another email last week from NS&I as I have some fixed rate bonds maturing in a month, doesn't look like i'll be keeping that money with them then. i think within 3 months you won't find an instant access accountant of 1% or more.
Think i'll just buy a property, already heavy on shares etc what with my SIPP and ISA's.0 -
Still dont think property is the answer. Illiquid, not tax efficient (CGT on disposal and income tax on rental income) and recoveries after falls can be slow (certainly slower than an equity based recovery).Rob7Lee said:Interesting times, I don't see negative interest rates but then I didn't see COVID coming........!
I had another email last week from NS&I as I have some fixed rate bonds maturing in a month, doesn't look like i'll be keeping that money with them then. i think within 3 months you won't find an instant access accountant of 1% or more.
Think i'll just buy a property, already heavy on shares etc what with my SIPP and ISA's.
Then again, if its inside a Sipp that's slightly different, although still not the bees knees.
My go to investments would be:
ISA
Pension
Investment Bond
Structured Product
VCT
EIS
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