This correction-type thingy...

adonis10

ChopperST wrote: »

Depends entirely on your brokers dealing points - it will be stipulated in their T's & C's.

e.g. Fidelity - https://www.fidelity.co.uk/investor/dealing/direct/dealing-and-settlement-times.page

"Your subscriptions will be credited to your
stocks & shares ISA on the business day we receive
them and will be used to buy units in
the Virgin UK Index Tracking Trust on that day.
Subscriptions received after 5pm will be processed
the following business day"

Found this, but doesn't really say at what price they units will be purchased.

https://uk.virginmoney.com/virgin/assets/pdf/ISA_App_TsCs.pdf

A_Flock_Of_Sheep

InvestInPoker wrote: »

Ty ty I am glad you are here and doing well also afos. I am, however, thoroughly disappointed that "Ryan Futuristics" is not around to dispense some gems of advice on the current situation. Of course it is a sure thing that he moved into cash at the end of April and will soon pick whatever countries will rise 100% in a year to reinvest into when the bottom comes.

Oh yes what happened to him?

fun4everyone

nm........

badger09

adonis10 wrote: »

"Your subscriptions will be credited to your
stocks & shares ISA on the business day we receive
them and will be used to buy units in
the Virgin UK Index Tracking Trust on that day.
Subscriptions received after 5pm will be processed
the following business day"

Found this, but doesn't really say at what price they units will be purchased.

https://uk.virginmoney.com/virgin/assets/pdf/ISA_App_TsCs.pdf

The valuation point seems to be 17.00 daily, so if you buy now (16.50) you would buy at today's 17.00 valuation.

Damage

colsten wrote: »

Can you name the people? How is "beating the market on a regular basis" defined?

Michael Marcus
Bruce Kovner
Richard Dennis
Paul Tudor Jones
Gary Bielfeldt
Ed Seykota
Larry Hite
Michael Steinhardt
William O’Neil
David Ryan
Marty Schwartz
James B. Rogers Jr.
Mark Weinstein
Brian Gelber
Tom Baldwin
Tony Saliba
Bill Lipschutz
Randy McKay
William Eckhardt
Monroe Trout
Al Weiss
Stanley Druckenmiller
Richard Driehaus
Gil Blake
Victor Sperandeo
Tom Basso
Linda Bradford Raschke
Mark Ritchie
Joe Ritchie
Blair Hull
Jeff Yass
Charles Faulkner
Robert Krausz


When I use the term 'beat the market' I'm referring to the documented accounts of traders whose exceptional performance places them - according to certain observers - in an elite group. As we know, there is more than one way to define a market-beating performance, but I think it's safe to say that in the case of the types of people I'm referring to, 'market-beating' performance involves exceeding a specific benchmark, most probably to a level that nearly everyone else would be unable to match.

You would need to read each individual account to evaluate how each trader's performance is measured.

As I have already mentioned, I am happy with the validity of the published information, but if anyone is able to refute these and every other account of traders who can beat the market (according to the various definitions of 'beating the market'), and establish that this type of trader never existed, then I will be first in the queue for a signed copy of your forthcoming bestseller.

redux

digannio wrote: »

Can someone give me a nudge when it's hit the bottom.... or do I just sit tight for St Leger Day to make a move!

Was it at about the time of your post, by any chance?

That's only today's exciting episode though.

AndyT678

Damage wrote: »

I'm referring to, 'market-beating' performance involves exceeding a specific benchmark, most probably to a level that nearly everyone else would be unable to match.

So how exactly is that different to the tail of a normal distribution?

Damage

TheTracker wrote: »

I suspect you are confusing "have beaten" with "can beat". I would say that the vast majority of those who have beaten the market have done so through simple statistical distribution ie randomness in a billion monkeys. If there are some who can do it, its nigh on impossible to extricate those who have done it through skill vs randomness and so its pointless trying to track those managers.

No, I'm not confusing those.

I'm quite surprised by people's reluctance to accept that these market-beating traders exist. I don't know why this is the case, but there is a lot information out there in support of such claims, and it is very plausible.

If one sticks to reading books about investing then perhaps that can explain such a bias (as I had a rather biased point of view after my first few books), so to anyone who falls into that category I thoroughly recommend reading as widely as possible.

Damage

talexuser wrote: »

Thank you, but I don't think we're the ones missing the point, which has been well put in Tracker's contribution above.

That's not the case. You might need to read my posts again.

Gadfium

Damage wrote: »

No, I'm not confusing those.

I'm quite surprised by people's reluctance to accept that these market-beating traders exist. I don't know why this is the case, but there is a lot information out there in support of such claims, and it is very plausible.

I don't see a reluctance on anyone's part, to be fair. ANY dataset will have outliers such as these. There are millions of painters, but very few van Goghs or Dalis. There are millions of guitar players, but very few in the league of Clapton or Hendrix. In fact, if there wasn't outliers then your data would be suspect.

The point is that it is impossible for the vast, vast majority of people (either amateurs or professionals) to replicate their achievements. And unlike the van Goghs, Claptons and Hendrixes of the world, it is possible that a large part of their success was down to luck and statistical chance.