First post

Options
1…78101213…25

Comments

  • mollycat
    mollycat Posts: 1,475 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    Smed wrote: »
    I read back at those posts by those who would advise me on my financial matters and I can understand why some people think some MSE Forum posters are children.

    There is nothing wrong with having a fantasy about having investments and credit cards and numerous bank accounts and being able to advise others. The problem starts when the fantasy world takes over and you actually believe that the fantasy world is your real world. It is very obvious that this what is going on. I said this earlier in this thread and it hit a raw nerve. All I have to add is "Thou protesteth too much".

    Be who you are and stop trying to be someone you are not because there will always be those who will spot it and that's my advice.

    Smed, can I withdraw my flippant comments made earlier in the thread....

    I did not realise, (and perhaps you do not either) that you need help.

    I would speak to your GP.

    Good luck.
  • eskbanker
    eskbanker Posts: 31,076 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    Smed wrote: »
    There is nothing wrong with having a fantasy about having investments and credit cards and numerous bank accounts
    Likewise there's nothing wrong with putting money into off-piste places like Moneybox and London Capital & Finance, while claiming to have both an IFA and an accountant, but in terms of credibility I think most people can make their own minds up....
  • masonic
    masonic Posts: 23,279 Forumite
    Photogenic Name Dropper First Post First Anniversary
    Options
    Smed wrote: »
    I read back at those posts by those who would advise me on my financial matters and I can understand why some people think some MSE Forum posters are children.

    There is nothing wrong with having a fantasy about having investments and credit cards and numerous bank accounts and being able to advise others. The problem starts when the fantasy world takes over and you actually believe that the fantasy world is your real world. It is very obvious that this what is going on. I said this earlier in this thread and it hit a raw nerve. All I have to add is "Thou protesteth too much".

    Be who you are and stop trying to be someone you are not because there will always be those who will spot it and that's my advice.
    I wonder if you've ever heard of a psychological defense mechanism known as 'projection', Smed? If not, perhaps you could add a therapist to the list of professionals already in your employ.
  • Fatbritabroad
    Fatbritabroad Posts: 573 Forumite
    First Anniversary First Post
    Options
    bowlhead99 wrote: »
    Yes, those melons won't farm themselves.
    Or he turns to stone at sun up 😂
  • Smed
    Smed Posts: 40 Forumite
    edited 4 April 2017 at 10:27PM
    Options
    eskbanker wrote: »
    Likewise there's nothing wrong with putting money into off-piste places like Moneybox and London Capital & Finance, while claiming to have both an IFA and an accountant, but in terms of credibility I think most people can make their own minds up....

    Did you miss the bit where I took profits from my Moneybox account? Note "profits". L.C. & F? Already have one and it's performing very well. I first saw L.C.&F. in a write up in The Daily Telegraph last year. Yes, people can make up their own minds.

    But yet again the display of a lack of knowledge. I.F.A.s advise, they don't control
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
    Name Dropper First Post Photogenic First Anniversary
    Options
    Smed wrote: »
    I read back at those posts by those who would advise me on my financial matters and I can understand why some people think some MSE Forum posters are children.

    There is nothing wrong with having a fantasy about having investments and credit cards and numerous bank accounts and being able to advise others. The problem starts when the fantasy world takes over and you actually believe that the fantasy world is your real world. It is very obvious that this what is going on. I said this earlier in this thread and it hit a raw nerve. All I have to add is "Thou protesteth too much".

    Be who you are and stop trying to be someone you are not because there will always be those who will spot it and that's my advice.
    Ok, so...perhaps you're not ready to let it go... :(
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • masonic
    masonic Posts: 23,279 Forumite
    Photogenic Name Dropper First Post First Anniversary
    Options
    Smed wrote: »
    Did you miss the bit where I took profits from my Moneybox account? Note "profits". L.C. & F? Already have one and it's performing very well. I first saw L.C.&F. in a write up in The Daily Telegraph last year. Yes, people can make up their own minds.

    But yet again the display of a lack of knowledge. I.F.A.s advise, they don't control
    Yes, picking investment options promoted in the consumer media is entirely consistent with someone who makes up their own mind and does not put an IFA in control of their investments.
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Name Dropper First Post First Anniversary Post of the Month
    Options
    Smed wrote: »
    Already have one and it's performing very well. I first saw L.C.&F. in a write up in The Daily Telegraph last year. Yes, people can make up their own minds.

    But yet again the display of a lack of knowledge. I.F.A.s advise, they don't control
    Yes, they would advise you to run a mile from the investment unless you love overly-risky options.

    You can't say it's 'performing very well' given they haven't produced any annual audited accounts showing what the portfolio is worth since you gave them your money. Their website just shows some management accounts from last year.

    It sounds nice and reassuring given they have in the arrangement "Global Security Trustees", an "independent security trustee with over 80 years of corporate legal experience". However, Global Security Trustees is a company that's about a year old, with one director and zero staff as of its last set of accounts, where the director (and sole shareholder) is the guy who's company secretary in a number of businesses previously directed by the director of LC&F.

    As the director of GST is not old enough to have 80 years of corporate legal experience, the 'experience' probably comes from the law firm they paid to write the debenture/security note between GST and LC&F so is tenuous at best. I could be doing them a disservice but it is not like GST is a well established and regulated global custodian and known enforcer of security on behalf of bondholders. You don't need to be a regulated entity to act as trustee or chargeholder in the UK, it can be done by an essentially dormant entity like GST, without any external attestation to the quality or effectiveness of their skills or independence.

    Apologies if this sounds like a criticism of you or your investments Smed. It is just a general warning to others taking leaps into the unknown based on slick advertising. Your investment is likely quite safe*

    * On the assumption that it is just a fantasy investment
    Smed wrote: »
    There is nothing wrong with having a fantasy about having investments
    The problem starts when the fantasy world takes over and you actually believe that the fantasy world is your real world.
    True, true.
  • Malthusian
    Malthusian Posts: 10,944 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Smed wrote: »
    I first saw L.C.&F. in a write up in The Daily Telegraph last year.

    That's odd because the Daily Telegraph's articles are all available on the Internet, and neither Google nor their own search function brings anything up. The closest match is a write-up about a similar Wellesley loan note, which is the top Google result for "daily telegraph london capital and finance". However, there is no mention of LC&F.
  • jimjames
    jimjames Posts: 17,625 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Options
    Malthusian wrote: »
    That's odd because the Daily Telegraph's articles are all available on the Internet, and neither Google nor their own search function brings anything up. The closest match is a write-up about a similar Wellesley loan note, which is the top Google result for "daily telegraph london capital and finance". However, there is no mention of LC&F.
    I assume the online version doesn't retain adverts shown at the time so what is probably meant is that they replied to an advert shown in the paper - maybe even an "advertorial"
    Remember the saying: if it looks too good to be true it almost certainly is.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards