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Vast sum to invest - advice

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  • Cornucopia
    Cornucopia Posts: 16,373 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fed wrote: »
    Wasting enough but as newfound points out, I am renting with two good mates who I have been for years. So a two bed would mean living alone/renting to a random which is another factor.

    Could you not move with your mates to a better/bigger place, but buy it yourself?
  • Reaper
    Reaper Posts: 7,339 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Adameck wrote: »
    I have read your post, and here is what I think:
    - gambling- well, gambling is investing money when the odds of actually winning (making cash out of it) are much smaller than loosing. It's also addictive, and the companies like to tempt people just so they get started. True enough online companies offer incentives such as a few pounds to start with, and maybe they will also let you win, but ultimately odds will be always against you
    A common view but not correct in this case I suspect. Betfair (where the OP operates) lets you both place and accept bets. In other words you can be a bookie. If you can detect anomalies in the markets and you only bet when these occur you can change the probabilities to be in your favour. I know somebody who makes a living out of doing just this using sophisticated computer programs that do everything automatically. It is not really gambling any more than being a bookie is gambling. Both only bet their money when the odds are in their favour.
    (BTW the word you wanted is "losing", not "loosing" as the latter means something different.)
  • atush
    atush Posts: 18,731 Forumite
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    Fed wrote: »
    Wasting enough but as newfound points out, I am renting with two good mates who I have been for years. So a two bed would mean living alone/renting to a random which is another factor.

    So buy a 2/3 bed and rent 1/2 of them a room. Same happy family, but better for you (and maybe them too).

    Explains why you are signing a new agreement when you shouldn't, as you are basing your financial decisions on the whims of others.

    There are always reasons why we make bad financial choices, and most of them are based on personal reasons.

    What would happen should you be on a long losing streak and not be able to afford the fancy pants london pad? Bet they would not float your share. And you can do bet fair from anywhere in the UK.
  • Fed
    Fed Posts: 109 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    atush wrote: »
    So buy a 2/3 bed and rent 1/2 of them a room. Same happy family, but better for you (and maybe them too).

    Explains why you are signing a new agreement when you shouldn't, as you are basing your financial decisions on the whims of others.

    There are always reasons why we make bad financial choices, and most of them are based on personal reasons.

    What would happen should you be on a long losing streak and not be able to afford the fancy pants london pad? Bet they would not float your share. And you can do bet fair from anywhere in the UK.

    If this was 3 months ago then i'd look into property but my tenancy is up in 5 weeks. A 2 bed would involve excluding one/living with a random, even if I benefited financially I wouldn't really prefer to do that. Sure a three bed is an option, though i'd say the prices are on the limit for the local area.
    There's more chance of one of my banks going bust and the fscs refusing to pay out than me losing more than 2% of my total earnings, and i'm not being ignorant when I say that
  • newfoundglory
    newfoundglory Posts: 1,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    atush wrote: »
    What would happen should you be on a long losing streak and not be able to afford the fancy pants london pad?

    Isnt that a bit unfair? The Fed has already told us he is a TRADER....
  • Froggitt
    Froggitt Posts: 5,904 Forumite
    Indeed. But trading also has its risks.
    illegitimi non carborundum
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I am just wary of him basing a financial decision on mates.

    My son paid a deposit on a flat for next year at Uni after his mate asked him to sign up.

    Now he has dropped out/changed his mind and left my son high and dry (ie stay and live with a random or lose his deposit).

    This sort of thing happens all the time really. In the meantime, prices in London are only going up/
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