investing faff-please help

dunstonh

George Osborne for starters.

Whilst the stupidity of the level of things that would go wrong was clearly incorrect. The same could be said for the brexit camp with their wild claims too.

The fact remains that the UK is now suffering the effects of a largely racist vote by people who should never have been asked their opinion as they lacked the knowledge and understanding for such an important issue.

Malthusian

dunstonh wrote: »

The fact remains that the UK is now suffering the affects of a largely racist vote by people who should never have been asked their opinion as they lacked the knowledge and understanding for such an important issue.

Do you patronise your clients in this way or only people you've never met?

bigadaj

Malthusian wrote: »

Do you patronise your clients in this way or only people you've never met?

Yes, and they get charged for it as well!

dunstonh

Malthusian wrote: »

Do you patronise your clients in this way or only people you've never met?

touched a raw nerve by any chance?

What point is a discussion board without discussion?

Freecall

Frozen_up_north wrote: »

remember all the financial experts that were proven wrong in recent weeks

dunstonh wrote: »

Which?

OK, ‘all’ is a bit of a generalisation but as the question has been asked let’s have a go at answering.

My answer for the record is the financial experts who got it wrong were those employed by the large equity houses i.e. those institutions (investment banks) who’s job it is take a position on equities on behalf of clients – those who employ some of the most ‘expert’ and well paid people in the industry. This is why…..

As we all know, on 24th June 2016 the world woke up to a big surprise. At one stage sterling fell to nearly $1.30, a fall of more than 10% on the previous day.

As a result, UK equity houses dumped UK and other equities in panic despite as dunstonh correctly says now,

dunstonh wrote: »

Shares are higher because that is what happens to assets valued on a global stage when sterling falls.

No doubt some made a killing that morning but on the whole, the investment banks (advised by their experts remember) continued to dump equities for several hours. The FTSE100 fell by 8.5% as they continued to off-load stocks.

By lunchtime sense started to kick in and it was realised that companies which have significant exposure to overseas markets could actually benefit from the fall in sterling. Markets began their rally closing just 2.5% down on the day. Since then of course the rally has continued and here we are with markets up by several percent.

So to repeat the logic that shares are higher because that is what happens on a global stage when sterling falls, one has to ask why, for a period of several hours, these ‘experts’ did not realise that would be the case.

Lots or reasons (aka excuses) will be given as to why the markets were experiencing extreme volatility, there was political uncertainty and no one could have predicted how investors would react but at the end of the day, that morning, they got it wrong.

Of course hindsight is a wonderful thing but we are not talking about folks just doing a workaday job. These are hard core, top of their game people who in many cases are paid £millions because of their so-called expertise.

They are the people who, if they had played their cards right (what a great phrase under the circumstances) could have made their clients and employers a handsome return. As I say, no doubt some did but on the whole that was not the case, they simply followed the heard.

So they are the ‘experts’ who, in my opinion, were ‘proven wrong in recent weeks’.




I for one am going to stick with a well diversified global portfolio and ignore the experts, I can’t afford to take the risk of following them.

:cool:

dunstonh

I will expand on my earlier comment as I don't want to start a trolling battle on the thread. Especially with regular posters who I enjoy posting with on the forums.

Firstly, asking the public to vote on an issue that they do not know the benefits or consequences is foolish. It should never have been offered in the first place.

Once it was offered, the discussions should have been on the pros and cons. Remain or exit both have pros and cons. However, we were given totally stupid predictions by some and a lot of rubbish got thrown in. The remain side failed to highlight any of the real consequences of leaving or the benefits of staying. The brexit card played racism, immigration (which is not the same as racism as the country is overcrowded and is a valid concern) and went anti-establishment which involved slagging off anyone who was for remaining. Even people with sensible views on remain and not just the ones making outrageous views.

it was almost a competition to see which side could come up with the most ridiculous claim. However, in the end I do believe the racist individuals in this country were the ones that tipped the vote from remain to leave. When you ask people why they voted to leave, you don't hear many say it was because of the EUs unaccountability and undemocratic methods or many of the other things that the EU is so bad at. Newsnight the other night asked people what purpose UKIP had and the responses were along the lines of making sure its followed through and the immigrants are kicked out. It was a total embarrassment.

I can understand why some people switched vote to exit when you saw the likes of Bob Geldoff sticking his fingers up at Fisherman on the Thames whilst drinking his champagne on the private boat but we should not ignore what we are going to lose vs what we may or may not gain.

Inward investment into the UK has dried up. In the coming years, unemployment is likely to rise, indirect taxation will either need to rise or benefits reduce and cuts made elsewhere. In the long run, global trade deals may result in the UK ending up in a situation that puts the UK at a competitive advantage over EU countries but it will be a long time getting there as these things do not happen over night.

Nobody can really predict what will really happen as there are so many variables. However, you don't need an expert to tell you that the country is in the early stages of a period of decline that is a direct result of the vote outcome.

buglawton

Frozen_up_north wrote: »

.
Drawing £45K out of one property in the form of a buy to let mortgage, then altering the existing mortgage or possibly remortgaging the second property to take account of a second party and a change of title to dual ownership, involves a lot of messing around and quite a few quid in administration costs for no obvious financial benefit to the OP... In fact it looks like a significant cost.

By having a financial foot in the door of the property you are both currently living in might sound like a good idea for the OP, but what about their OH who won't have a share in the currently empty property?

The fact that BTL locks you in, preventing temptation to update the car but providing a steady income is what I call good investment.

Oddly enough, being a BTL operator with a good credit record seems to also keep you in good stead for further loans for projects, e.g. I doubt self & DW could've raised our loft loan without the BTL in the background.

This all makes sense so long as borrowing and saving rates are so miserably low compared to a BTL that was not bought at an overpriced moment.

bigfreddiel

So according to dunstonh offering a vote on the EU was foolish.

So now we know the PM was a fool.

I guess that brings in the entire cabinet as well.

I've always thought that this was the case, thanks for confirming it.

In fact the parties are all the same so that makes them all fools hehehehe!

Cheers fj

JohnRo

In other words the country will get what it deserves. The one saving grace is that the flag waving ignoramus army are the ones who will suffer the most.

Of course anything good to come from this stupidity, however small, will be claimed and crowed about. Anything bad disowned and ascribed to the same old punch bags and scapegoats, again.

buglawton

There's a Brexit whingers thread elsewhere.