Jump to content

The Finance Thread


SillyBilly

Recommended Posts

  • Replies 1.1k
  • Created
  • Last Reply
  • 2 weeks later...

How are people shaping up with regards to the vote and their investments?

I am expecting a Remain (hoping not) so looking at Ryanair to outperform the FTSE if we do? Never held the company before. I will have a punt if we Remain, try and get in as close to the vote as possible.

Brexit then expect the FTSE and the pound to take a short term battering. Rather watch from the sidelines in that case then.

 

Link to comment
Share on other sites

people mention short term hit on finances if we vote brexit, I do find it surreal really because how much money has George Osborne actually spent for continued austerity and rise in food banks?

The Government certainly does need to balance the books. The national debt has soared from £750billion in 2010 to £1.5trillion now and rises every second by ­ £5,170. That’s more than £300,000 every minute, more than £430million every day. These are staggering sums casually racked up on your credit card.

 

Link to comment
Share on other sites

10 hours ago, LesterRam said:

people mention short term hit on finances if we vote brexit, I do find it surreal really because how much money has George Osborne actually spent for continued austerity and rise in food banks?

The Government certainly does need to balance the books. The national debt has soared from £750billion in 2010 to £1.5trillion now and rises every second by ­ £5,170. That’s more than £300,000 every minute, more than £430million every day. These are staggering sums casually racked up on your credit card.

 

The UK has a ridiculous deficit around 5-5% (Greece around 3.5%), so some context is needed. To the rest of the world we are profligate spenders living far outside of means courtesy of the generosity of foreign investors closing our account deficit and our ability to export British real estate as a value investment. You cant sell off your nation forever. We are really up **** creek IMO.

We have doubled our debt in less than 10 years, there will be consequences for that regardless of the result tomorrow. If people want to link that to Brexit they are conflating politics with piss poor long term management of an economy (my view). The positive we have is we're not in the Eurozone, that club is onto a hiding to nothing at some point, we all know it.

Link to comment
Share on other sites

On 22 June 2016 at 22:55, SillyBilly said:

How are people shaping up with regards to the vote and their investments?

I am expecting a Remain (hoping not) so looking at Ryanair to outperform the FTSE if we do? Never held the company before. I will have a punt if we Remain, try and get in as close to the vote as possible.

Brexit then expect the FTSE and the pound to take a short term battering. Rather watch from the sidelines in that case then.

 

Had no real bets on the actual result, not that cocky in any gamble, was too close to call for me; just a few long term positions which I expect to benefit from.

Expect the FTSE and £ to drop as you say, but Au/Ag going to soar in Sterling :cool:

Link to comment
Share on other sites

53 minutes ago, StivePesley said:

Anyone have any views on how long Sterling will stay this weak?

Just done the sums on my 2 week holiday in August and it's going to cost me £200 more in spending money if the £ doesn't bounce back any time soon.

It depends on your currency I guess and I can see the $ going down to $1.20 before the end of the year.

The euro is a different kettle of fish due to how intertwined we are currently with Europe. It will drop as well as Sterling.

Link to comment
Share on other sites

4 minutes ago, GeneralRam said:

It depends on your currency I guess and I can see the $ going down to $1.20 before the end of the year.

The euro is a different kettle of fish due to how intertwined we are currently with Europe. It will drop as well as Sterling.

In this case it's Croatian Kuna

We went this time last year and it was 10.6 HRK to the £

To be fair it was already down to about 9.7 before yesterday, but has dropped even further to 9.3 in the Brexit fallout

Link to comment
Share on other sites

53 minutes ago, StivePesley said:

In this case it's Croatian Kuna

We went this time last year and it was 10.6 HRK to the £

To be fair it was already down to about 9.7 before yesterday, but has dropped even further to 9.3 in the Brexit fallout

Other than the major economies I can't really help you here mate. Is the Kuna not pegged to the Euro? 

Link to comment
Share on other sites

On 30/12/2015 at 14:39, SillyBilly said:

Pound continuing its slide against USD today. On the right side of that trade for now but got the larger position in short Euro-long USD which I am still on the wrong side of following the late year rally.

I am actually more pessimistic on the £-$ than 2009 lows based on fundamentals. I expect to see $1.35 or less within a year or so. Another crisis in 16 or 17, given the starting point I'd personally keep my money in right toward the 1985 lows at parity.

And for reference the BoE in the 1985 panic increased rates from a low on Wed, 07 Mar 1984 to a high on Mon, 28 Jan 1985 by 5.32%. The high then was at 13.875%. I still think Sterling plays a big role here. We all seem to take it as a given we can hold rates low and QE Pump infinitely. We can't if there is a run on the £.

imggraph.php?C1=GBP&C2=USD&A=1&DD1=&MM1=

 

 

I sold my dollars just now, didn't think it would be Brexit which would get me us to $1.35 but will take it, took my pounds and bought a shed load of Barrick Gold.

Think it will settle now the big drops have come but 1985 lows there to be tested. Not been in this trade for too long so seemed too good not to come out today. May regret it.

Link to comment
Share on other sites

8 minutes ago, SillyBilly said:

I sold my dollars just now, didn't think it would be Brexit which would get me us to $1.35 but will take it, took my pounds and bought a shed load of Barrick Gold.

Think it will settle now the big drops have come, time to take the profits.

You're just like one of those greedy bankers I read about a few years ago. Voted out and used the turmoil to feather your nest. Not so silly after all are you William?

Link to comment
Share on other sites

14 minutes ago, bigbadbob said:

You're just like one of those greedy bankers I read about a few years ago. Voted out and used the turmoil to feather your nest. Not so silly after all are you William?

Entitled to your view chap. I am looking after my own pension, nothing more, nothing less. You may want to put your pension in the hands of experts (pension and financial industry) but I don't. If you have a pension you have a "greedy banker" acting on your behalf, making investment decisions for you, doing exactly what I am doing...just because you pay somebody to do your dirty work and want to pay them a fortune for piss poor performance...don't get ratty at me!

You seriously believe I voted out to feather my own nest? Have you read any of my posts on the EU? I would have invested in Ryannair if we voted to Remain, just reacting to the market, as I always do.

Link to comment
Share on other sites

5 minutes ago, SillyBilly said:

Entitled to your view chap. I am looking after my own pension, nothing more, nothing less. You may want to put your pension in the hands of experts (pension and financial industry) but I don't. If you have a pension you have a "greedy banker" acting on your behalf, making investment decisions for you, doing exactly what I am doing...just because you pay somebody to do your dirty work and want to pay them a fortune for piss poor performance...don't get ratty at me!

You seriously believe I voted out to feather my own nest? Have you read any of my posts on the EU? I would have invested in Ryannair if we voted to Remain, just reacting to the market, as I always do.

No I don't  believe you voted out to feather your own nest, I was just having the craic. I actually spent 20 odd years in banking myself. Pension wise I have a couple of old company schemes but also have my own "retirement provision" so don't pay anyone to do my dirty work for piss poor performance but I do appreciate your concern. yes I have read your EU posts. I'm not ratty but I have just opened a bottle of wine to relax myself even more. up the ramps 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...