Natwest stocks and share account cost me £430 in a week! I'm on the verge of crying!

blinko

i invested on monday and my portfolio is down 2% already im gutted but i know it will go up in the futuer I just gotta sit here and wait,

why did you cancel it so quickly ? if your in it for the long haul now is a great time to invest as there are fears of a double dip recession which i dont think will happen at all, apart from america thats the only bad news we have had and the revised forcarst wasa better than market expectations and unemployment figures weren't as bad as expected

so i really dont think there is a double dip on teh cards but the markets i think have priced it in, so over the next 3 years i think the markets will go up, at the moment they are pausing for breathe as they have been going upf or the last 6 months odd

rockitup

OP just took the wrong tips and thought it wasn't a gamble.

I read this site and some of the Motley Fool daily emails for interest and just sometimes have a punt. I followed a tip for Southern Cross Heathcare and lost about 9% or so by Thursday but held on and was rewarded on Friday with a 52% gain. I didn't check the Friday market moves till after the close so hope that there is still a nice gain left to take this morning.

Really OP shouldn't be doing risky funds or shares to start his investing career (?) Trackers to start with on a regular monthly plan or just leave it in the bank. Lucky he didn't put the 25k on a surefire winner at the horse races:o

edinburgher

I know how the stock market works but I certainly didn't anticipate a £430 loss after a week.

When I started investing (in the peak of 'oh my gawd, capitalism is coming to an end' sentiment), I was hoping to lose no more than 10% in a year (I was an optimist ) It strikes me that you started off with not enough knowledge and too much money. This isn't meant to sound as cheeky as it no doubt does

I suggest you open an ISA and drip feed money into funds/shares until you get the hang of things. It has been a couple of years for me now and I still feel like I know nothing! £25k is a big chunk of change to be 'adventurous' with...

jonj123

ed123 wrote: »

.....If as most of the replies imply ie the op does not know much about stock-markets ( eg not knowing he would lose re price difference of units after a few days), would he therefore have a good case re miss-selling. I would write to the manager of the NatWest branch stating this fact and ask for the money back.

Thanks for all the replies so far. Just to clear things up I have not invested in any funds myself so far. The list of funds that I mentioned in my recent post was only a suggestion to get feedback.

With regards to the natwest S&S account it is worth mentioning that when I opened the account I was never told that I could lose money if I cancelled within 30 days. In addition to this a day before I cancel the account I visited my branch to find out how I could cancel and I was told by the same salesperson that "the market hasn't really changed" and I should "expect to receive my initial investment back". Had it not been for this incorrect advice I would not be so frustrated as I am now.

cardsharps

Mickygg wrote: »

I ivested 2 weeks ago and currently 10% down but its a long term investment so not worried.

Has the stockmarket really lost 10% of its value in the last 2 weeks? I knew it went down a bit but didn't think it was that much.

opinions4u

cardsharps wrote: »

Has the stockmarket really lost 10% of its value in the last 2 weeks? I knew it went down a bit but didn't think it was that much.

Depends on which stocks and shares were invested in.

While the FTSE100 hasn't dropped that much, a range of inidvidual shares/funds have.

feesarefare

jonj123 wrote: »

Thanks for all the replies so far.

Jonj123 - Having read all of your threads, I would suggest no one wastes anymore of their time replying. Ive never seen so many contradictions posted by one person in such a short time.

I think you need to go and lie down in a dark room for a quite a long time.

£25 k into a S&S ISA? thats a new one on me - must be a Natwest special!

jonj123

feesarefare wrote: »

Jonj123 - Having read all of your threads, I would suggest no one wastes anymore of their time replying. Ive never seen so many contradictions posted by one person in such a short time.

I think you need to go and lie down in a dark room for a quite a long time.

£25 k into a S&S ISA? thats a new one on me - must be a Natwest special!

I'm sorry if I seem that way to you. It's certainly not my intention. I invested £20,000 in the OEIC S&S account and £5,100 in the ISA S&S.

Cleaver

jonj123 wrote: »

With regards to the natwest S&S account it is worth mentioning that when I opened the account I was never told that I could lose money if I cancelled within 30 days. In addition to this a day before I cancel the account I visited my branch to find out how I could cancel and I was told by the same salesperson that "the market hasn't really changed" and I should "expect to receive my initial investment back". Had it not been for this incorrect advice I would not be so frustrated as I am now.

The market didn't really change that much, and you did pretty much receive your investment back. You lost 2% over a period of a week, an average of your investment falling around 0.4% a day. This could be considered a bad week, but as loads of other people have pointed out it's pretty much par for the course when it comes to markets. Be thankful that you didn't lose more.

As Dunston has already pointed out, if people could invest as much money as they wanted with Natwest then cancel any time within 30 days with the losses cancelled don't you think every single person would gather up all of their money and invest it with Natwest for risk-free investing? Did this not occur to you? Natwest would go bust pretty quickly if they covered all investor's losses for a 30-day grace period.

The most baffling aspect of this story is that you're now planning to throw your house deposit money at another bunch of high-risk funds with the goal of returning 50% over a three year period because it's better than savings. Every single person is advising you that, based on your circumstances, this is a bad idea. Yet you still seem keen on doing it.

feesarefare

jonj123 wrote: »

I'm sorry if I seem that way to you. It's certainly not my intention.

Well if thats the case why dont you just listen to all the guidance the other posters have given you and give up this silly idea of taking risks that you can ill afford or understand.