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  • FIRST POST
    • ruthcain1
    • By ruthcain1 7th Aug 18, 3:26 PM
    • 27Posts
    • 13Thanks
    ruthcain1
    Investment advice for person panicking about Brexit
    • #1
    • 7th Aug 18, 3:26 PM
    Investment advice for person panicking about Brexit 7th Aug 18 at 3:26 PM
    I am a pretty ignorant investor who had a bit of cash to invest 3/4 years ago and just follwed some very basic advice on spreading risk etc, I believe from the telegraph. To my surprise (and probably because of underlying market conditions or luck I suspect) the value has gone up 38%. This is my current holding. I have what's now a total of about 70,000 split roughly between no 1 son's ISA (he is 15 so it matures pretty soon and is his), 23k in no.2 son's ISA (he is 11) and about 11500 in mine.

    I am on HL for ease but may change this, if there is another suitable platform for someone inexperienced like me, as I hear it's overpriced.

    As I'm increasingly panicking about my prospects post Brexit as I have chronic health issues and am only 45 but already down to part time work only, I've realised I need to sort this out.

    I have been watching other advice threads closely and note that most small investors are being advised to ditch their various funds and just consolidate into one global. Twotonealex is being advised on which one right now, I am seeing support for a Blackrock fund.

    The lowest two performing funds in my lot have consistently been the Aberdeen Latin American Equity and the Newton Asian income so I am thinking of ditching those in particular and swapping for something else but not sure where to choose.

    My thanks in advance for taking the time to help me out. Any advisors who find themselves in the depths of SW London are welcome to pm me and request a free drink or 3.
Page 2
    • EachPenny
    • By EachPenny 7th Aug 18, 9:05 PM
    • 6,134 Posts
    • 16,117 Thanks
    EachPenny
    There is a lot of free 'advice' available on the forum, from some very experienced investors. You seem more interested in complaining about being offended though. Perhaps it would be best to move on from the offence you feel and get back to discussing your investments?
    Last edited by MSE ForumTeam3; 08-08-2018 at 7:04 AM. Reason: Quoting deleted post
    "In the future, everyone will be rich for 15 minutes"
    • Terry Towelling
    • By Terry Towelling 7th Aug 18, 9:15 PM
    • 371 Posts
    • 275 Thanks
    Terry Towelling
    Sorry, @ruthcain1. You are right that some of the posts can seem to be a bit hard and, when you've come for advice, it does feel a bit off-putting. Nice to see that some users have sent you private messages of support; personally I think those messages should be public - even if they do divert the thread a little.

    I'm sorry to hear about your health concerns and am wondering about your pension provision? Do you have a pension that would pay you out if you had to retire on ill-health grounds in the near future and (despite the fact that we don't know how your health problem will change over time) is there enough in it to support you in the longer-term?

    You may be able to realise some of your gains (careful of CGT) and slide that into a pension for some added tax relief too.

    Finally, notwithstanding the fact you have been put off by some posts here, there is some advice contained that may still be useful to you.

    Best of luck with your health and for the future.
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:23 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    Hi Terry, thanks. I agree the advice is useful and it's best I just ignore issues of delivery!!

    I pay into have a work pension, that used to be excellent but is now not great thanks to various cuts. I don't know if it will pay me out in future if I go off sick completely. I was planning to cut down on work rather than not work at all and to try to pick up some bits of freelancing etc in my field. So I can't predict right now what income will be at any given stage. This is why I thought I'd better get some advice on what to do with what I've got.

    I have read that I could wrap up my investments into a SIPP but need to do more research as to a. how to do this and b. if I can do it tax free given I already have a workplace pension.
    • aroominyork
    • By aroominyork 7th Aug 18, 9:24 PM
    • 580 Posts
    • 197 Thanks
    aroominyork
    Ruth, you might want to re-consider saying that you have done well with your investments. If you had invested in, say, Vanguard LifeStrategy 100 three years ago you would have made over 50% by now. Even more reason that you are right (without realising it) to change your strategy. And if you want to benefit from views which might help you do that, please stop harking on at people who are telling you a few home truths about investing.
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:27 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    Why on earth would I act the same when giving advice as when seeking it?

    Family law isn't your field (unless you're claiming to be an expert in that field too? Wouldn't surprise me) and if you asked my advice I would be polite and considerate. Which I doubt is something you understand or are capable of.

    For a start, people asking for help don't usually act like grouchy old gits who've had one too many in the sun. Enjoy your evening, Victor
    Last edited by ruthcain1; 07-08-2018 at 9:29 PM.
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:29 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    Duh. I am not saying I did well. I am saying I was lucky to make gains when I didn't have a clue what I was doing.
    Exactly what you charming lot on here are telling me.

    At least some of you are decent and polite, although some seem to be too intimidated by you bunch of grouches to post publicly.
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:31 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    Several people told me the same home truths. It's very useful to hear them. My point is that some were polite and some weren't. And I'll say what I like on here thanks, given that you lot clearly do Clearly no one is obliged to reply.

    Next time I'll use a different name though, as I suspect grudges are held.
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:32 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    And yes of course I realise I'm right to change my strategy. Why else would I be trying to change it?
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:34 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    You do not post neutrally, sir... I've noticed you on other threads being rude, arrogant and unnecessarily grumpy, and so have others who have pm'd me. Time to tone it down a bit maybe?
    • ruthcain1
    • By ruthcain1 7th Aug 18, 9:41 PM
    • 27 Posts
    • 13 Thanks
    ruthcain1
    Anyway will delete this userID and use another one for further advice if I come back here

    The people who gave the best advice were the least rude, btw. None of the rude grouches said anything that wasn't said by eg Alexland in a far more constructive way.
    • aroominyork
    • By aroominyork 7th Aug 18, 10:01 PM
    • 580 Posts
    • 197 Thanks
    aroominyork
    Why on earth would I act the same when giving advice as when seeking it?
    Originally posted by ruthcain1
    Go on Ruth - amuse me by explaining that, perhaps taking into account the difference between a client paying a professional for advice, and a petitioner asking for free input on a forum.
    • Puddylove
    • By Puddylove 7th Aug 18, 10:39 PM
    • 491 Posts
    • 816 Thanks
    Puddylove
    I only see one person being rude on this thread.
    • Heedtheadvice
    • By Heedtheadvice 7th Aug 18, 10:59 PM
    • 868 Posts
    • 423 Thanks
    Heedtheadvice
    Carefull now Yorkie. Ruth did say she gives free advice too, not just in a professional capacity, did she not?



    I think many on this board feel for your personal position, however sketchy your posts have been, over your future uncertainties. Do remember though you at not alone in that sort of situation.



    Having said that I do feel there is an over reaction. It is often the case that short responses can come accross as a bit curt or even rude but nothing I have read so far would seem worthy of someone taking offense.
    There are many posts and threads regarding savings and investments with these same contributors pointing out the downsides and giving excellent free suggestions -sometimes during their working day or in their free time. Pointing out what is wrong with asset allocations in investments is a first to help understanding what should not be done and then what might be done better!
    That includes the approach to goals and risk. Generalisms that can be advised but specifics cannot. You have not been specific with your original goals and attitude to risk and your current ones, to me, seem incomplete thus making suggestions difficult.


    I suspect that your personal circumstances, that you allude to Ruth, colour your perception, as you have written. You seem to be very critical of posters but your 'series' postings confuse me as to which poster your complaints are directed!



    The same experienced investors, commenters and professional advisors (who you must realise cannot legally give specific financial advice) have helped many and you can find the basic sensible approach to sorting out finances and then eventually investing, in several threads, if you care to look.


    Can I humbly suggest you look beyond style -I do not think anything untoward has beeen intended- and just concentrate on the substance. If you had by now you might have a better idea as to what you ought to be considering with regards to your finances rather than becoming argumentative.


    .......and it is only fair that this is a public post that you can comment on and, if required, I and others can defend. If you just change your name, like the lepoard, you cannot change your spots.
    • DairyQueen
    • By DairyQueen 8th Aug 18, 12:25 AM
    • 403 Posts
    • 630 Thanks
    DairyQueen
    Ruth,

    You are doing a great job of alienating the IFAs and experienced investors. They give their advice on here FOC and don't have the time for flowery delivery. If I were you, I would concentrate on providing the info. they need to help you, and as concisely as possible. You need to listen if you want to learn and they are excellent sources. I haven't found better anywhere on the web.

    There is no point in taking offence when your investor shortcomings are confirmed, The experts are simply explaining the reasons why your investment strategy is flawed. You knew it was flawed but you didn't know why, and you still don't. For example, upthread you mentioned something about checking fund prices and selling if the price drops. Er..... no, no, no. Classic mistake by a novice. A properly diversified portfolio contains assets specifically held to manage risk/volatility, and asset groups perform differently in specific market conditions.

    So, in a single post, could you confirm?:

    - You have three portfolios with different timescales and aims (your own plus each son)?
    - Portfolio 1 (elder son) - Aim = ? - 3 year timescale? Currently invested in which funds ? 35.5k?
    - Portfolio 2 (younger son) - same questions except 7 year timescale? and 23k?
    - Portfolio 3 (your own) - ditto and timescale = ? and 11.5?

    All currently invested in HL (J)ISAs?

    What is your attitude to risk? How would you feel, for example, if elder son's portfolio dropped 50% tomorrow and didn't recover for 5 years? Or 10 years? Perhaps you would feel OK if it dropped 20% and remained 20% below current value at age 18? What percentage drop do you think you would feel comfortable with on your own portfolio and on that of each of your sons?

    With this kind of detail the forum can target advice and provide valuable explanations.

    Would you like to begin again?
    • ValiantSon
    • By ValiantSon 8th Aug 18, 12:58 AM
    • 2,521 Posts
    • 2,452 Thanks
    ValiantSon
    I opened the thread thinking that I may be able to offer some help. I then saw the rude and aggressive posts by the OP towards those who had tried to help her. I therefore decided I was out before I had even started to compose a reply. I doubt I am the only one who feels this way.

    Ruth, should you wish to begin again and show more civility and less hostility, then I am sure that people will give you the benefit of their wisdom. I may even offer what little help I can, but if you adopt the same tone moving forwards (whether under a different username or not) don't expect to get much.
    • Bravepants
    • By Bravepants 8th Aug 18, 7:26 AM
    • 435 Posts
    • 493 Thanks
    Bravepants
    I have learned in the past that it is virtually impossible to ascribe tone and emotional intention to text based conversations. Instead one's own imagination plays tricks, especially for the sentitive types (like myself!). I think the OP has fallen foul of this too! I have read all the posts that the OP has "complained" about and have interpretted them much differently. I guess it's perspective at play here. The OP is obviously feeling sensitive to her own decisions and is very much on the defensive. She's also quite a reactive person having posted multiple posts one after the other instead of carefully thinking about her responses and being less reactive and posting as instantaneous thoughts come into her mind.



    Just chillout and look at the advice provided objectively. Your sensibilities are much less important than gaining the well thought out advice from the experts on here.
    Last edited by Bravepants; 08-08-2018 at 7:32 AM.
    • dunstonh
    • By dunstonh 8th Aug 18, 12:05 PM
    • 93,947 Posts
    • 61,724 Thanks
    dunstonh
    Every now and then we get these bizarre threads. It is a shame because the OP has not only completely misread the style of delivery but also misread the content.

    For example, Thrugelmir mentioned what happened with Japan as an example of what could happen. The OPs response was to focus on only the Japanese fund. Completely missing the point that was being made. That a Japan style event could happen anywhere, anytime.

    Or the selling when funds are down and buying when they are up.

    Or the extremely high risk nature of the funds selected

    Or the way they were bought through recommendations of advertising or poor quality journalism (e.g. how the media often focuses on the niche/specialist/high risk sectors)

    Or trying to build an advanced portfolio despite admitting that they didnt have the knowledge to do so and ignoring the comments about looking at multi-asset funds instead.

    Before the days of forums, I used to post on USENET in UK.FINANCE. netiquette for posting was always to keep it as short as possible and to the point. No wishy washy. Bandwidth being the issue back then but also that long winding posts dont sink in as much as bullet point style answers. However, the key thing was to never read posts with any type of emotion superimposed onto them. You can never tell the emotion when text is plainly written. Someone claiming to be in the legal profession should know that. You should never impose a fake emotion onto someone else's text.
    Last edited by dunstonh; 08-08-2018 at 12:34 PM.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Terry Towelling
    • By Terry Towelling 8th Aug 18, 5:25 PM
    • 371 Posts
    • 275 Thanks
    Terry Towelling
    Yes, @ruthcain1 has overreacted to the initial response from @dunstonh and this seems to have set the tone for what followed. However, it might be that she is having the rug pulled from under her with her health problems and career choice now being under threat, so she is probably understandably stressed and touchy.

    Yes, it is also easy to infer a meaning in a post that might not be there, and that posts written in a brief, to-the-point style can seem a bit, well, rude. I always read @dunstonh's posts very carefully because they are always full of good advice and I learn a lot from them (thank you @dunstonh).

    However, perhaps starting a post by highlighting the subject of 'ignorance' was not the most tactful. Neither can one really defend that sort of opening when they claim to be keeping things concise and to the point. To be honest, there was no need to refer to it at all. Sorry.
    • dunstonh
    • By dunstonh 8th Aug 18, 5:55 PM
    • 93,947 Posts
    • 61,724 Thanks
    dunstonh
    However, perhaps starting a post by highlighting the subject of 'ignorance' was not the most tactful. Neither can one really defend that sort of opening when they claim to be keeping things concise and to the point. To be honest, there was no need to refer to it at all. Sorry.
    I was linking the statement that followed. i.e. op says they are an ignorant investor. I then went on to show what they had was unsuitable for an inexperienced investor. Do notice how I used the term inexperienced in my response. I did not refer to them as ignorant. I actually think the use of ignorant is crude which is why I used my frequent classification which is to call them an inexperienced investor.

    We quote bits of text to make it easier to understand why we are responding as we do.

    It actually seems my reference to fashion investing was the key thing they didn't like. Despite it being a very accurate description of what they did. I don't what the other early responders did wrong to be criticised either.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • DairyQueen
    • By DairyQueen 8th Aug 18, 7:10 PM
    • 403 Posts
    • 630 Thanks
    DairyQueen
    The silence from Ruth is deafening.

    Ah well, 'pride': the enemy of every amateur investor. Been there, done it, ironed the t-shirt.

    Shame... it will cost her.
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