£200 for me, but got zilch in previous two draws so, meh.
Anyway. Somewhat by luck, about 3 weeks ago I did a full review of my funds holdings with the help of my IFA, and to some extent Claude.ai helped. Basically the IFA suggested a re-balancing of portfolios by sector, and some better performing funds in each sector. So I did (by my cautious standards) quite a radical pruning, and it takes a few days for Hargreaves Lansdowne to sell off the funds and free up the cash. While this was happening the Orange Baboon and the Most Punchable Face in the World were gearing up but markets still thought they were bluffing.
Nevertheless I didn't like the smell of it all so I figured the smart thing would be to feed the money back in at regular intervals. This was where Claude was cool. He worked out how much of each fund I needed to buy to get to the IFA's recommended sector share, and then the amounts to pay in each month. Working that out myself would have driven me nuts.
Anyway I bought one tranche just before Lardy Boy put down his golf clubs and went full batshit. So fortunately most of my cash is unspent and I now need to consider an emergency re-balance. The thing is that when you are in funds, you own a lot more Nvidia, Amazon and Swasticar than you realise, so I have to take a good long look at all those funds. And then if you instead buy more European funds, you are buying more Novo Nordisk, and I already own a fair bit of their shares which have taken quite a hammering. But the UK and European funds I've bought already are already showing positive returns.
Also been meaning to give a shout out to Hargreaves Lansdowne, since I've been moaning about them a lot on here. I've got a SIPP with them but I'm UK tax-non resident. Once I'd clarified what options I actually have for accessing the funds, (speaking to both Pension Wise and Which mag.) I gave them a call and they were very helpful, even suggesting a way to start the process with a minimal withdrawal with the aim of obliging HMRC to send H-L the non-resident certificate so that H-L can send me later withdrawals gross. They've also quietly beefed up their portfolio analysis tool although they keep it hidden away - they say they are planning to improve it further. They are quite happy that I'm a non -resident so long as I have a UK bank account, and here too I've got lucky as it turns out that HSBC, alone among the big banks, are perfectly OK with me keeping my current account while moving to a foreign address. For ages I had really thought I'd need to shift everything to non-UK platforms and banks, and had opened an account and experienced the full UX horror of Interactive Brokers. Well H-L are a lot more expensive but when it comes to platform functionality for punters like me who are mainly in funds, I've decided its still good value and I am not going anywhere. Hats off to them and to HSBC from a grateful traitor.😉
Also been meaning to give a shout out to Hargreaves Lansdowne, since I've been moaning about them a lot on here. I've got a SIPP with them but I'm UK tax-non resident. Once I'd clarified what options I actually have for accessing the funds, (speaking to both Pension Wise and Which mag.) I gave them a call and they were very helpful, even suggesting a way to start the process with a minimal withdrawal with the aim of obliging HMRC to send H-L the non-resident certificate so that H-L can send me later withdrawals gross. They've also quietly beefed up their portfolio analysis tool although they keep it hidden away - they say they are planning to improve it further. They are quite happy that I'm a non -resident so long as I have a UK bank account, and here too I've got lucky as it turns out that HSBC, alone among the big banks, are perfectly OK with me keeping my current account while moving to a foreign address. For ages I had really thought I'd need to shift everything to non-UK platforms and banks, and had opened an account and experienced the full UX horror of Interactive Brokers. Well H-L are a lot more expensive but when it comes to platform functionality for punters like me who are mainly in funds, I've decided its still good value and I am not going anywhere. Hats off to them and to HSBC from a grateful traitor.😉
It's odd that HSBC stand alone amongst UK banks when it comes to people like yourself living abroad. My friends who live in Cyprus now suddenly had to close all their Barclays accounts after they had been there for about three years and struggled to find another UK bank with whom they could bank. Luckily an advisor in Cyprus suggested they open an account with HSBC in Jersey and apparently they couldn't have been happier with that suggestion. If HSBC UK catch up with the other banks then a Jersey account may be an option for people.
I haven't been so lucky. 1.9% down today. Definitely too much across the Atlantic.
I find it helps if you think of the very bad days not as % drops but as 'oh, we've gone back three weeks (or whatever)' in terms of market levels. So as of now the S&P500 has gone back to November.
I haven't been so lucky. 1.9% down today. Definitely too much across the Atlantic.
I find it helps if you think of the very bad days not as % drops but as 'oh, we've gone back three weeks (or whatever)' in terms of market levels. So as of now the S&P500 has gone back to November.
Not forgetting a mooted dollar devaluation which I imagine would cane stocks again. I'm not an economist, so perhaps someone cleverer can explain how a currency devaluation would keep prices down in the US. Surely it just makes imports more expensive...
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Great timing as I’ve just paid my car insurance and about to pay my dad’s next week. It was nice while it lasted 🤷🏻♂️😂
£100-50k
better than a kick in the bollocks I suppose
Then again I did sell out 18 months ago 😀.
Anyway. Somewhat by luck, about 3 weeks ago I did a full review of my funds holdings with the help of my IFA, and to some extent Claude.ai helped. Basically the IFA suggested a re-balancing of portfolios by sector, and some better performing funds in each sector. So I did (by my cautious standards) quite a radical pruning, and it takes a few days for Hargreaves Lansdowne to sell off the funds and free up the cash. While this was happening the Orange Baboon and the Most Punchable Face in the World were gearing up but markets still thought they were bluffing.
Nevertheless I didn't like the smell of it all so I figured the smart thing would be to feed the money back in at regular intervals. This was where Claude was cool. He worked out how much of each fund I needed to buy to get to the IFA's recommended sector share, and then the amounts to pay in each month. Working that out myself would have driven me nuts.
Anyway I bought one tranche just before Lardy Boy put down his golf clubs and went full batshit. So fortunately most of my cash is unspent and I now need to consider an emergency re-balance. The thing is that when you are in funds, you own a lot more Nvidia, Amazon and Swasticar than you realise, so I have to take a good long look at all those funds. And then if you instead buy more European funds, you are buying more Novo Nordisk, and I already own a fair bit of their shares which have taken quite a hammering. But the UK and European funds I've bought already are already showing positive returns.
I expect a boost to come though, my concern is that his grift is in crypto rather than in making us all rich through the stock market.
I'm not an economist, so perhaps someone cleverer can explain how a currency devaluation would keep prices down in the US. Surely it just makes imports more expensive...