Only freedom will do

edinburgher

Have found a packet of konnyaku in the cupboard! Does anyone have any experience of cooking with it?

AlexLK

edinburgher wrote: »

Afraid to say that my total for the week was £600+ :eek:

Granted that did get me 7 bottle of very nice whisky. Particularly pleased with the £145 bottle, basically 30% off the sticker price. Trying to think of the car equivalent for you - orange stickered Daimler? :rotfl:

Totals don't count, or that's what I often tell myself. But still, £600 on whisky, I reckon you need to get your coat and hand in your MSE card as you leave the office.

Do you keep or drink the whisky? Funny you should mention Daimlers, I'm having a bid on a rare one in a few days on eBay.

edinburgher wrote: »

You don't *need* a pension unless your parents plan on being cryogenically frozen to scupper your inheritance

You should still probably consider one.

I would not put it past them. Father has long promised to haunt me for all eternity should I lose my inheritance.

edinburgher wrote: »

The other downside risk is that whatever assets are being invested in fall out of fashion, less common if Alex is buying ultra high end stuff I suppose? What will Chinese billionaires want in 25-30 years time is probably the question that we should all consider

I buy things firstly and foremostly because I like them and consequently know what sort of values they fetch. However, I have not bought anything to sell yet that I wouldn't be happy to keep if I couldn't sell it.

If I knew what Chinese billionaires wanted in 25-30 years time, I'd be a very rich man. It won't be cars unless the government relaxes their laws.

edinburgher wrote: »

Well then you're daft! Even when it comes to selling some of the BTLs, a pension offers real tax benefits and using one might help you to better structure both your own finances and how you want to leave money for your son and any other children.

Didn't know you'd set up home in Scotland, father? Seriously, I suppose I don't know enough about what I should do about my finances. Currently, I feel investing in something I would not be able to touch for over 20 years to be rather restrictive, there are too many toys to buy, I'm afraid. However, you'll likely be pleased to know my wife has started to pay into a pension at work.

I have no plans to sell any property, instead I wish to add more. That is about all I do know about my future finances.

There will be no other children, unless you are speaking of potential grandchildren.

edinburgher wrote: »

Nothing wrong with developing an interest in investing to while away the drearier hours (I started when there was nothing to do at work), but for the love of God, avoid stock picking! You have the wrong temperament and the profit (good), loss (bad) emotions will not do good things for you.

How long have you been investing for?

Stock picking is exactly what I was looking to do, I thought I'd enjoy it and it'd give the best chance of making the most profit??

AlexLK

Alchemilla wrote: »

Wait! You can get yellow stickered Daimlers?

Yep...

edinburgher wrote: »

Have found a packet of konnyaku in the cupboard! Does anyone have any experience of cooking with it?

Konnywhat?

gallygirl

AlexLK wrote: »

Konnywhat?

Just looked it up............. boak :rotfl:

SuperSecretSquirrel

AlexLK wrote: »

Stock picking is exactly what I was looking to do, I thought I'd enjoy it and it'd give the best chance of making the most profit??

Maybe. More chance of making big losses too. It's more akin to gambling, which fits in with your "only invest what I'm happy to lose" mindset. When investing in funds over time it is disingenuous to think in that way. Your fund "units" will always retain some value, and will more than likely recover given time. If you pick stocks and fail to diversify enough you do run the risk of the few companies you have an interest in failing, and your portfolio ends up being worthless.

Getting burned by failed stock picks is often a quick route to dismissing the stock market as gambling, chalking it up as an expensive failed experiment, and never investing a penny more in the future.

edinburgher

SuperSecretSquirrel wrote: »

Maybe. More chance of making big losses too. It's more akin to gambling, which fits in with your "only invest what I'm happy to lose" mindset. When investing in funds over time it is disingenuous to think in that way. Your fund "units" will always retain some value, and will more than likely recover given time. If you pick stocks and fail to diversify enough you do run the risk of the few companies you have an interest in failing, and your portfolio ends up being worthless.

Getting burned by failed stock picks is often a quick route to dismissing the stock market as gambling, chalking it up as an expensive failed experiment, and never investing a penny more in the future.

I think you're too polite SSS!

There's clear empirical evidence that the majority of stock pickers underperform their local stock market indices year after year. You know that, doubt Alex has heard it mentioned before.

You are not Warren Buffet.

edinburgher

Backed a horse at 9-1 for a MB offer, forgot to lay the bet, won £180 :beer:

Best poopy nappy ever.

Karmacat

Omigod! Are you jammy or what? :rotfl::rotfl::rotfl: thank heavens it went the right way!

Secret_Saving_Squirrel

It will offset some of that whisky!

edinburgher

Secret_Saving_Squirrel wrote: »

It will offset some of that whisky!

I am not looking at other bottles, honest