Grexit and the markets?

Thrugelmir

pk83 wrote: »

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.

Greece isn't the issue. It's the flaws in the EU that are being going to be exposed. Everybody in the club wants to take the benefits while playing by their own rules.

If Greece exits. Whose the next weak member to opt to default?

Gadfium

Thrugelmir wrote: »

If Greece exits. Whose the next weak member to opt to default?

Spain? Italy?

Glen_Clark

Thrugelmir wrote: »

Whose the next weak member to opt to default?

Britain - but Britain will default through inflation as usual.
(the real rate of inflation, not Government statistics)

Pincher

According to HSBC, I can transfer cash from a cash ISA to a S&S ISA, but not the other way around. So if I sell some shares to play safe, I can't move the cash back to the 1.5% interest cash ISA.


Obviously, playing safe means virtually zero interest on the cash.


So the idea is to buy it and forget it.

Aretnap

Pincher wrote: »

According to HSBC, I can transfer cash from a cash ISA to a S&S ISA, but not the other way around.

That's out of date as of last summer - you can now transfer both ways. Perhaps they've forgotten to update a web page somewhere? I transferred some cash from my HSBC S&S ISA to my HSBC cash ISA a few weeks ago with no problems.

Pincher

Aretnap wrote: »

That's out of date as of last summer - you can now transfer both ways. Perhaps they've forgotten to update a web page somewhere? I transferred some cash from my HSBC S&S ISA to my HSBC cash ISA a few weeks ago with no problems.

That's good to know. The warning was still there a few weeks ago.

Mikey17

ChesterDog wrote: »

If we were to sell everything whenever a cliff-edge seemed to be imminent, then we would be behaving like the oft-quoted typical DIY investor; he who is always in and out of the market and wrecks his returns in the process.

I have most of my modest investments in the VLS 60 %. At very best I am a DIY investor, do i just sit tight and stop worrying. The way things are going it seems this will only get worse. I suppose i have left it miles to late to sell my funds and buy them back if and when things have settled down. Thanks for your opinions

DistortedVision

All my ISA funds were America, Chinese, India, Biotech funds etc and have not been affected so much by the crisis in Greece.


But historically markets always overreact and recover from crises. I have £30 000 which I'm hoping to invest on weakness around the Greek crisis in FTSE100 blue chips. I'm deliberately looking at boring high dividend yield stocks like GlaxoSmithKline, Unilever and Shell. Also looking at ARM, BT and Petrofac.


Its also well nigh impossible to call the bottom of the market and people have lost a lot of money in the past bottom fishing. I think there are still some falls to come but I think the market is generally oversold.


Selling ISA funds now might seem like a good idea but ask yourself if you're going to time the buy back right if that's your intention. If you can't stand the heat then stay out of the fire and hold cash. But me personally I think this is going to be a buying opportunity.

padington

Markets are way oversold generally if you ask me. Wouldn't touch any of it with a barge pole right now. If Greece walks away from its debts the damage will be substantial because of the sentiment that will follow.

Atreyu107

I sold out of a blue-chip UK Unit Trust, but that's mostly because I shall be buying a house soon and need the funds for the deposit. We're skinned to the bone as it is so I could do without the inevitable volatility the next few weeks will bring.

Agree generally with what's being said here though: HOLD on Eurostoxx if you have any, BUY if you don't. Same goes for FTSE.