Investment & Investing

just get a Vanguard Lifestrategy in a S+S ISA and put as much of £20k yearly as you can into it

I subscribe to this. Reading RESET was good too which was a tip from here. Only slight snag (in my unqualified opinion) is 20% UK weighting post Brexit

Reading RESET was good too which was a tip from here

Intrigued, what's this?

Other than weed you’ve describe my self managed fund - 140% return this year (the 60% of that came from buying cheap in March and watching it grow from there).

@andyfallsoff https://www.amazon.co.uk/dp/B07GPJD8L6/ref=cm_sw_r_cp_apa_2VMFM4410DQZP37E3JYM
Book on financial independence which is UK focused. First half is a bit wishy washy on career stuff but the second half will pay for itself many times over and is where it gets into the financial bit

Top work!

Cheers! Will check it out

You purchased this item on 02 March 2019.

Hahaha

apparently i should have read it by now.

@ChainBreaker have a flick through the second half!

How long does it usually take Vanguard to respond to secure msgs?

EDIT: About a week apparently.

"Ordered on 25 August 2019"

also yet to be touched #facepalm

also yet to be touched #facepalm

No no... Touched a lot... And hard...

Excuse the Rddt link and GME dredge but in case anyone missed it here’s the Interactive Brokers CEO admitting that brokers would’ve had to pay thousands per share if the stock had been allowed to continue trading. Yes, it is that cynical. Yes, they’ve put forth well-worded, reasonable-sounding arguments. Yes, it seems all of that is still bs and they broke the game to avoid losing.

https://www.reddit.com/r/wallstreetbets/comments/lmagzp/today_interactive_brokers_ceo_admits_that_without/

[GME chat] Also, one of the protaganists, Roaring Kitty, is being sued.

Stupidly hes being accused of being false by downplaying his experience. Which is stupid.

Fine, if you lie and say youre a pro, and con ppl to make financial decisions for your benefit... Hang him.
He said he was an amateur, with skin in the game, and no one should follow his advice. The total opposite.

[GME Chat] Robinhood CEO also testifying as to whether they were colluding or not.

(GME) From Roaring Kitty article:

The suit was filed by the securities class action firm H. Berman Sobol Shapiro on behalf of Christian Iovin of Washington state and similarly situated individuals. Iovin sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices.

Turns out that’s what happens when you upset the establishment and use their own rules to make massive gains at their expense.

Would you take financial advice from this man? (well, yes actually)

1 Attachment

Anyway, wasn't his advice to buy and hold? If that fucker shorted $200,000 worth of shares, he wasn't following RoaringKitty's advice, was he?

I think the sentiment is STILL buy and hold.

They have move the shorts to the options to look like they have settled, but really, its just smoke and mirrors.

I think that's the basis of the lawsuit? "This guy pretended to be an idiot but actually secretly worked in finance and so my bet on his failure didn't work out. Now give money"

But will the courts see it like that? Or will they just say that he was 'lying' and therefore found guilty.

Would you take financial advice from this man? (well, yes actually)

That doesn't look like the ChainBreaker I knew.

I see dfv has doubled down on GME and increased his position

CCIV tanked in afterhours and pre market. Eeek.

ISA millionaires have a strong link to close ended funds

A few years ago at my previous job I got talking to one of the portfolio managers after hours. A+ rated guy in the industry, incredibly smart and with a fantastic track record of outperformance. Value investor through and through with 20+ years experience and comfortably taking home low to mid 7 figures each year.

Anyway, fascinating guy to chat with and after a quite a few beers he started telling me about a little exercise he carries out each year for the main fund that he runs. On the first calendar day of the year he takes the holdings of his fund and copies them to a paper portfolio that he leaves untouched until the end of the year. The real fund that he actively manages undergoes various changes throughout the year, whether that's adjusting weights to keep within sector or country limits, selling names the team no longer has conviction in or buying new ideas, etc. It is actively managed after all, that's his job.

Final day of the year comes round and he compares his 'untouched' paper portfolio with the real one. 12 out of 12 years the untouched paper portfolio has outperformed. The best thing he could do for the fund and it's investors is to do nothing at all most of year. He was, as he put it, 'paid handsomely to travel the world, work long hours and mostly detract value throughout the year because I have to be seen to be doing something'.

Shouldn't read too much into it I guess, just an anecdote that stuck with me.