http://news.bbc.co.uk/1/hi/business/6410629.stm
I'm getting pretty hacked off with this now. I'd been putting all my spare money against my offset mortgage for a while but decided it was time to diversify my portfolio () and paid into a share ISA a few months ago. It's lost a total of £350 this past week with more to go on Monday (cos the valuation is always given on yesterday's prices).
SOMEONE MAKE IT STOP
you really want to get pissed off?
Some of the trading banks (like the one i work for) have been doing rather well off this fall. Rather well indeed!
But don't worry too much, most people are expecting the FTSE too recover over the next 6 months. And anyone reading this, never buy a share ISA as a 'short term' investment, or one that you expect to be able to yoink your money from.
I find trading a peverse kind of fun, like picking a scab, it hurts but when you finally rip it off only too bleed, you feal like you've accomplished something.
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As are we at my new job. With the launch of our new Income Fund just round the corner, shares are cheap, we can afford to buy more with IFA's money and so get a better return when things stabiliseOriginally Posted by TheAnimus
I might buy some shares for the dividends / long term savings at the end of this slump...
Its quite good fun, where it not for the compliance head ache, i'd be tempted by a little index trading next week.
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You think you've got it bad? My parents invested some of their savings in ISAs several years ago, and although they're starting to recover at the moment (slump aside) they lost about 60% of their value over the first six years...they weren't best pleasedhttp://news.bbc.co.uk/1/hi/business/6410629.stm
I'm getting pretty hacked off with this now. I'd been putting all my spare money against my offset mortgage for a while but decided it was time to diversify my portfolio (
SOMEONE MAKE IT STOP
sig removed by Zak33
Yeah my offset mortgage is my short term investment, but it only 'makes' ~6% net return - albeit without any risk at all - so I thought I'd have a flutter on a share ISA. But that still needs to do better than 6% p.a., otherwise I'd have done better to pay off more mortgage.
I came to the same conclusion about buying at the bottom of the trough so thinking in for a penny, in for a pound I've already topped up to my limit for the tax year. BRING IT ON!!!!
Just don't want to think too much about what has happened to my personal pension in the meantime
You sure they were ISAs, not PEPs or whatever it was? I'm pretty sure ISAs are Gordon Brown's idea and they have been doing well pretty much since launch - though obviously there were terrible times under the Tories, so going further back may bring in some horror stories.
Investments may go up aswell as down
It's a paper loss until you cash them in, so hang on to them for as long as possible
This is why I never bothered with ISAs and the like... I just have a natural suspicion of that kind of thing...
The reason being that you can bet your arse that even though the value of YOUR investment can go down or up or sideways, the company you have the ISA with will always be making money.
The ONLY time I've seen a company lose money on some investment scheme is with an endowment I stupidly took out with my very first mortgage.
The damn thing had underperformed so badly we'd have been better off sticking the money in a savings account.
Fortunately we claimed for the shortfall and got that.. then when we tried to sell the policy to get rid of it we found that no-one would buy it as the original company were paying near OVER the surrender value to prevent hundreds of their endowments being owned by other investments companies...
We were very, very lucky to get out of that one slightly 'up' on the whole thing.
It's my considered opinion that you ain't seen nothing yet. But then of course I am the voice of doom.
Last edited by Rave; 05-03-2007 at 04:54 PM.
Rave, at least if nothing else, we can be sure of your opinion on our economic future
Heh, I had a good load of cash invested in the year 2000. 9/11 saw it crash to nearly half of what I invested. Thankfully, the people I was investing with have, since then, managed to give me an overall 50% increase from my starting sum, which is pretty good. In the long term, they generally pay out pretty well.
Roffle. But true. I'll join you in the Doom mongering.
"In a perfect world... spammers would get caught, go to jail, and share a cell with many men who have enlarged their penises, taken Viagra and are looking for a new relationship."
Rave, are we talking 5 year or 50 year projections here. I need to know when the best time to buy a house is
Dude, you didnt provide the link
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