Grexit and the markets?

pk83

Is anyone cashing their stocks and shares ISAs etc in due to the potential impact the likely Grexit will have on the markets? I know that long term it probably won't make much difference to investments but I can't help but feel that we are on the edge of cliff and the Greek fiscal mess is the tipping point.

Ark_Welder

At any other time I would have said that markets are less like a ramble along a cliff edge, and a lot more like a rollercoaster. However...

Credit Crisis. Potential for US defaulting due to Congress arguing over their budget. So many tipping points over the years that I am feeling quite tipsy.

Otherwise, a simple one-word answer: no.

alexanderalexander

I thought this thread might be about whether now could be the right time to buy Greek shares. Obviously not one for the widows and orphans, but whoever does correctly call the bottom of the Greek market will stand to make some real money!

In answer to the question, I agree with Ark Welder.

Mikey17

Can someone tell me, if you sell funds within your ISA, do they remain in the ISA as cash, so you can reinvest at a later date, or do they lose their ISA status, thanks

Archi_Bald

Mikey17 wrote: »

Can someone tell me, if you sell funds within your ISA, do they remain in the ISA as cash, so you can reinvest at a later date, or do they lose their ISA status, thanks

The funds normally do stay in the ISA but there have been reports about some weird platform (can't remember the name now) that gave their account holders a cheque with the proceeds. You should check with your ISA provider.

enthusiasticsaver

No, I am not cashing in my stocks and shares isas. Lots of tipping points over a 5-10 year period but might not look at mine for a while


I think you can leave cash within a stocks and shares isa but I guess it depends on your provider.

Aretnap

You can usually leave cash in a S&S ISA, but it probably won't earn any interest (depending on the provider), and if it does earn interest it will be taxable.

As for he markets, with hindsight selling on Friday afternoon would have been a good idea, but then I find that I'm always right after the event. If you haven't already sold it's quite possibly too late as the markets will open significantly down on tomorrow morning, so you'll be selling at a price which takes into account the likely Greek default and Euro exit.

What share prices do from there is anybody's guess - they could go up or down as traders assess whether the implications of a Grexit are better or worse than their initial assumptions, or for all we know there could be a last minute rescue which sends prices soaring again. Sell now and you risk taking the full force of the initial drop, but missing out on the rebound. Might as well fasten your seatbelt and enjoy the rollercoaster. Equities are supposed to be volatile - that's why you get better returns than bonds. You can't expect to be able to opt out of the volatility, but still get the returns.

atush

If you are properly diversified, then why would you sell? Better yet to buy euro stocks afterwards.

ColdIron

Aretnap wrote: »

You can usually leave cash in a S&S ISA, but it probably won't earn any interest (depending on the provider), and if it does earn interest it will be taxable.

I think Osborne stopped this in 2014 in his ISA shake up

Archi_Bald

ColdIron wrote: »

I think Osborne stopped this in 2014 in his ISA shake up

Agree, he did.

Mikey17

Aretnap wrote: »

Might as well fasten your seatbelt and enjoy the rollercoaster. .

Which one, the smiler ?
Thanks for everyone's answers