Is a Crash Likely (2015-ish)? Should a New Investor Wait a While to See?

Damage

I haven't looked into P2P yet, but I have seen it mentioned quite a number of times. Those rates you mention do look very good.

There is so much to learn that it's hard to know what to look into next. With my current level of knowledge I'm at the stage of being able to inadvertently make myself look an idiot, which I have managed a couple of times now.

In_For_A_Penny_2

Damage wrote: »

I haven't looked into P2P yet, but I have seen it mentioned quite a number of times. Those rates you mention do look very good.

There is so much to learn that it's hard to know what to look into next. With my current level of knowledge I'm at the stage of being able to inadvertently make myself look an idiot, which I have managed a couple of times now.

Thats the beauty of an anonymous Internet forum! It's just one potential source of information but a very good one at that.

You can be sure that for every "stupid" question you ask there are a dozen or more people wondering the same thing.

bigadaj

Damage wrote: »

I haven't looked into P2P yet, but I have seen it mentioned quite a number of times. Those rates you mention do look very good.

There is so much to learn that it's hard to know what to look into next. With my current level of knowledge I'm at the stage of being able to inadvertently make myself look an idiot, which I have managed a couple of times now.

It's far preferable to look like an idiot, especially where you are anonymous in an Internet forum, than to lose thousands by doing something you don't really understand.

The fear of looking stupid is also a classic scammers technique, if you don't understand something then don't do it.

We're all different and open to various levels of risk, one significant problem being that people don't understand the level of risks they are exposing themselves to, just remember don't limit yourself to single sources of information, always look for multiple sources and utilise the Internet, books, the media etc, always being aware of any self interest in the opinions you are viewing.

I'm more than happy to look stupid if it keeps a few grand in my pocket rather than someone else's.

arbster

Damage wrote: »

There is so much to learn that it's hard to know what to look into next. With my current level of knowledge I'm at the stage of being able to inadvertently make myself look an idiot, which I have managed a couple of times now.

As others have said, don't worry about how you look on an anonymous internet forum. Also, from where I'm sitting you just look inexperienced, like me. If teachers called their students "idiots" for not already knowing what they're being taught then education would be a pretty miserable experience. We'll get there.

Do definitely look into P2P - it's a good place to put money that you're waiting to drip-feed into your S&S investments, and the returns are better than Cash ISAs. Don't miss out on the referral bonuses either, as these give a healthy boost to the initial returns.

One thing that bowlhead99 and jamesd have brought home to me, though, is that my reading is not finished once I reach the end of Smarter Investing. Far from it!

fairleads

Damage
Tim Hale had, or still has, connections to the financial services industry and therefore has a vested interest in providing information that is biased.

jamesd

Damage wrote: »

I haven't looked into P2P yet, but I have seen it mentioned quite a number of times. Those rates you mention do look very good.

Look at the p2p independent forum for more on a wide range of P2P opportunities. The well knwn names tend to pay a lot less.

Damage wrote: »

There is so much to learn that it's hard to know what to look into next. With my current level of knowledge I'm at the stage of being able to inadvertently make myself look an idiot, which I have managed a couple of times now.

Don't worry about it, you will look like a fool at times, it just comes with investing. Diversification helps to protect you from that as well.

jamesd

arbster wrote: »

Do definitely look into P2P - it's a good place to put money that you're waiting to drip-feed into your S&S investments, and the returns are better than Cash ISAs.

Notice that the returns of the things I mentioned doing are above the long term average return of the UK stock market which has been around 5% plus inflation? It's one reason I like them, I'm perhaps not sacrificing growth, though at times and in some places I will be. But when I also think that a market downturn is due? I'm content to risk sacrificing a little growth.

Damage

Thank you all

That's true; at least I can be an anonymous idiot! I do intend to read well past Tim Hale's book, to gain a more balanced view.

Talking of anonymity, yesterday I received a phone call from a financial company of some description, offering me financial advice and a free initial consultation. What a coincidence! I asked how they happened to know what I've been doing recently and he said that I must have completed a survey recently or something. Oh no I hadn't! That information could only have come from one of two places, who have my details related to investing, so I presume that they are selling information to third parties.

atush

Or they got you off the elctoral roll?

Cold calling isnt allowed by regulated firms so rum a mile from those people.

Damage

It's possible I suppose, but if so it's a hell of a coincidence considering it's the first time I've had such a call, and it occurred just after I set up my first ISA.

They were pleasant enough, but I had to repeat myself a few times before they gave up trying to persuade me.