HL stocks and shares ISA advice needed

MONEYTREE_2

I emailed the ex to tell him what a !!!!!!! he is for getting me to invest in things that have lost me so far 1800 and his reply was, stay in. He has more money than me invested in the exact same funds, and he is staying in and I should too. He said he will let me know in a month if I should sell any of the 8 funds.

I am more confused than ever and just wish I had never got involved in any of it.

[Deleted User]

Hi,

MONEYTREE wrote: »

I emailed the ex to tell him what a !!!!!!! he is for getting me to invest in things that have lost me so far 1800 and his reply was, stay in.

Stay in, he'll be round tonight to 'comfort' you.

bowlhead99

MONEYTREE wrote: »

I emailed the ex to tell him what a !!!!!!! he is for getting me to invest in things that have lost me so far 1800 and his reply was, stay in. He has more money than me invested in the exact same funds, and he is staying in and I should too. He said he will let me know in a month if I should sell any of the 8 funds.

I am more confused than ever and just wish I had never got involved in any of it.

Well, if in a month or so he decides that he thinks that it's a good idea to sell the lot, because you are now down £5400 instead of £1800 and he feels the markets are going further down before they go up, will it be much comfort that he has lost a more than you? I doubt it, if it's your purse that's feeling the pinch.

Or in two years time and he says, "they are only down 25% this is normal for good long term investments like these, keep hold of them like I am going to do and you will see decent gains eventually that make it all worthwhile"... what are you going to do about the fact that you want £15k for your "relocation costs" fund and £25k for your "bigger house" fund and yet the isa only has £30k in it not £40k and he doesn't think you should access any of it anyway until it has recovered?

As you have said you are not going to have anything to do with him whatsoever, how are you going to keep getting investment guidance from him? You have previously stated that you are convinced he deliberately picked the investments as the worst ones from his portfolio just to mess with you. We said that was unlikely. Now you have asked him and he says to keep them and they are not bad investments. And you are flip flopping on whether to believe him or your instincts that he is trying to screw you over. So you are confused.

This can easily be resolved by accepting that he might be happy with the investments in the context of his wealth and his short and medium and long term goals, but you are not happy with them for yours, because your needs and wants and capacity for loss and tolerance for risk are not aligned with his.

It is clear that you should just sell and keep the money as cash, or invest it into other investments, rather than hold on to these particular investments that don't suit your needs. And if you don't know what you want, there is no harm selling up andsitting on the sidelines until you do.

Flip flopping your position between "someone says do this, I'll do it; oh, someone says do that, I'll do that instead; oh, the guy i hate says I should keep them, but he doesn't know what I want, and might be trying to ruin me or control me, or he might not, but either way he doesn't appreciate the fact I'm crying myself to sleep each night in terror that I could lose £10-15k more if I want or need to sell out later rather than now... this is just not productive or healthy.

Take a deep breath and try to stand back and take a bird's eye view of the whole thing. You are close to it and emotional and have said maths and finance are not your strong points. Those of us without a vested interest and plenty of investment experience are saying it is not a good idea -for you - to hold that portfolio that he set up.

It doesn't mean it's not fine for him to hold it or for me or dunston or jimjames or bigfred etc to hold it or that anyone is out to ruin your life by saying keep it or sell it. But our and his goals and needs and investment understanding and capacity for loss and ability to bear losses are not the same as yours, so you must do what works for you. It does not seem like you holding those investments and exposing yourself to potential large losses, is going to work for you. So the only sensible recommendation can be: sell.

bigfreddiel

I'm beginning to think this thread is a scam. You've all wasting your time with these excessively long replies

Cheers fj

MONEYTREE_2

OK I have just been on the HL site and sold the lot and holding the money as cash. I am going to look into opening some more of those interest-earning bank accounts. Setting up a merry-go-round of the money might be a hassle but at least I will feel safe, plus it means I never have to have anything to do with the ex ever again, which suits me fine. 8 yrs of my life plus £1800 down the drain, but I'll survive.

Bigfred -- A scam? To get money from who - you?

You mean you think I have nothing to do than invent a fake scenario? OK then, send me your email address and I will send you screen shots of my HL accounts and the email from my ex.

[Deleted User]

Hi,

well now that you've decided, don't be checking prices in a few days and saying, 'awe jings, if I'd just held on', forget about them, you've lost a bit of money and a lover, just put it down to experience.

Good luck.

MONEYTREE_2

If they go up in a few days I will murder dunston with my bare hands.

LHW99

Look at it like buying a really swanky and pricy wardrobe of new clothes, only to realise after a few months that they're not your size, style or colour and you really don't want to wear them ever again.

Once you've sold them all (given them away if clothes!), don't go back and look at the same stuff in the shop and think, well maybe if I wore them with pink stockings they'd would have been OK. If they're not right for you, getting rid is a good decision.

MONEYTREE_2

LHW99

I buy my togs from Millets. Maybe that's why he ran off with another woman?

LHW99

Then he's definately not worth the angst!