The FTSE

  • Thread starter Thread starter worsleyweb
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SWP's back said:
@hammocity please please only go anywhere near this with money you are happy to say goodbye to.

Crypto is a not an investment any more than than an all favourite 3 team acca with Bet365.
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Thanks, it sort of frightens me into thinking the early investors made a profit paid for by later investments. I'm sure it's more complicated than that but like Ponzi schemes it's unregulated, not for me but as I said before I do lack knowledge on the subject.
 
hammocity said:
Thanks, it sort of frightens me into thinking the early investors made a profit paid for by later investments. I'm sure it's more complicated than that but like Ponzi schemes it's unregulated, not for me but as I said before I do lack knowledge on the subject.
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Every other asset has an underlying value backed by something tangible. Crypto was “invented” as a currency for people to use in exchange for goods and services but it’s not being used for that and it can’t be used for that as anyone would be crazy to spend Bitcoin as it’s value is rising. This means that it’s impossible to use it for its own intended purpose. It’s a paradox that will be the end of it if it continues.

Crypto is not used for anything, it produces nothing, it pays no dividend. It’s growth is entirely sentiment led and it’s made tens of thousands of people multi-millionaires.

Throw a few grand in for sure but not your pension.
 
A work colleague of mine is leaving his well paid job next Friday to become a full time cryptocurrency trader. He has been doing it in his spare time over the last 4-5 years and has made enough money to not need to work for the next 5 years. He reckons by trading full time he will make enough over the next few years to retire. He's only 36
 
Georgian Maestro said:
A work colleague of mine is leaving his well paid job next Friday to become a full time cryptocurrency trader. He has been doing it in his spare time over the last 4-5 years and has made enough money to not need to work for the next 5 years. He reckons by trading full time he will make enough over the next few years to retire. He's only 36
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I know a couple of people that are similar. Ones a professional gambler and ones a pro poker player.

Your mate is doing similar and good luck to him!
 
The blue phantom said:
Just won the huge American contract on the B52 Bombers announced late last night. Worth $2.6 Billion. Was expected to go to Pratt & Witney. These will surge again Monday Morning. Got quite a few of these when they did the Rights Issue back end of last year. Absolute killing has been made on these now.
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Put this on as I’ve watched them since @worsleyweb pushed them but didn’t get on board. Went on holiday instead :) Great tip,so far though, were around 100 at the time.
 
China ban bitcoin every few months, they are getting ready to bring their own crypto out, to run alongside their traditional currency.
 
manchester blue said:
Put this on as I’ve watched them since @worsleyweb pushed them but didn’t get on board. Went on holiday instead :) Great tip,so far though, were around 100 at the time.
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Well as I said on my last post these would surge Monday morning due to the huge contract with the American defence, Up another 7% already this Morning. If the ITP sale goes through this week they'll go through the roof again. Happy days.
 
The blue phantom said:
Well as I said on my last post these would surge Monday morning due to the huge contract with the American defence, Up another 7% already this Morning. If the ITP sale goes through this week they'll go through the roof again. Happy days.
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I’m up 47% on my initial stake. Still keeping it for a while yet though.
 
Blue Smarties said:
I’m up 47% on my initial stake. Still keeping it for a while yet though.
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I bought in at 90 cashed out some and cashed out the balance this am at 140. On the back of a very successful trade with RBS last year on my best run on the shares for a long time based on not much more than a gut feel.
 
tolmie's hairdoo said:
My private pension has jumped £26k in 12 months, despite essentially paying in the minimum amount during Covid.

I didn't want to freeze it, but I'm in for roughly £240 in contributions during that period.

It's not buying in to Amazon in 1998, but it's the biggest return I've ever had for such a minimal outlay.

Kudos to my financial adviser!
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A pension I paid just 3k into between 1984-1989 which is now with Aviva was worth 85k before Covid, dropped to 73k but now back to 80k, meeting an IFA (my sister works for him) next couple of weeks for advice.
 
hammocity said:
A pension I paid just 3k into between 1984-1989 which is now with Aviva was worth 85k before Covid, dropped to 73k but now back to 80k, meeting an IFA (my sister works for him) next couple of weeks for advice.
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It certainly shouldn’t be worth less than it was pre covid. You’re best keeping it with Aviva and picking one of their lifestyle portfolios.

You don’t want to be paying fees on that amount in a pension.
 
SWP's back said:
I see China just ruled all Bitcoin transactions illegal.
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China does this about every 6 months and has been doing for ages. I agree about Bitcoin having no real world use and it’s too volatile to be used as a payment method. It’s the biggest crypto currency simply because it was the first. Much better crypto coins have come out since and obviously plenty of worse coins. There are now some crypto coins that have real world usage so it can no longer be described as having no value.
 
SWP's back said:
It certainly shouldn’t be worth less than it was pre covid. You’re best keeping it with Aviva and picking one of their lifestyle portfolios.

You don’t want to be paying fees on that amount in a pension.
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Thanks, appreciate that. The IFA I'm meeting is a mate as well so his fee is about £500, I'll see what he says about any other costs involved, cheers.
 
Blue Smarties said:
I’m up 47% on my initial stake. Still keeping it for a while yet though.
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There'll be ups and downs mate but hold on to these, I've got plenty through the Rights Issue and I honestly expect these to smash through 200 within a year if not Xmas.:) Certainly not a time to sell with what Rolls Royce currently have going for them.
 
I`ve been retired for 4 years. I started getting my state pension 3 years ago and my wife starts getting hers in December. I haven`t had any debt since I paid my mortgage off when miras finished. I do have other investment so my wife and I haven`t had to take our private pensions yet. These are the pluses of being an old bugger.

I think we have been one of the lucky generations. I`m not sure future ones will be as lucky. They will be paying off the debts forced on the country through COVID and the change in working practices that will result.
 
r.soleofsalford said:
I`ve been retired for 4 years. I started getting my state pension 3 years ago and my wife starts getting hers in December. I haven`t had any debt since I paid my mortgage off when miras finished. I do have other investment so my wife and I haven`t had to take our private pensions yet. These are the pluses of being an old bugger.

I think we have been one of the lucky generations. I`m not sure future ones will be as lucky. They will be paying off the debts forced on the country through COVID and the change in working practices that will result.
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You gotta remember that your generation has only just finished paying off the war bonds and borrowing from the previous generation’s world war 2 mate.
 
hammocity said:
A pension I paid just 3k into between 1984-1989 which is now with Aviva was worth 85k before Covid, dropped to 73k but now back to 80k, meeting an IFA (my sister works for him) next couple of weeks for advice.
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My investments are about 20% up on their pre-Covid peak, which although not spectacular includes quite a few shares that are staples of many pension funds that have not fully recovered, so if shares like BP, BT, GSK fully recover there's quite a lot of upside still. Luckily I bought some shares at the bottom of the market in March last year that had tanked badly at the start of the pandemic and they've made massive gains to more than offset the downturn in the others. It's no surprise that many pension funds are still below their pre-Covid levels as they tend to focus on those bigger companies that are seen as safe bets, and when you consider that the FTSE 100 is still 10% below its pre pandemic level, your pension fund could be a lot worse.
 
west didsblue said:
My investments are about 20% up on their pre-Covid peak, which although not spectacular includes quite a few shares that are staples of many pension funds that have not fully recovered, so if shares like BP, BT, GSK fully recover there's quite a lot of upside still. Luckily I bought some shares at the bottom of the market in March last year that had tanked badly at the start of the pandemic and they've made massive gains to more than offset the downturn in the others. It's no surprise that many pension funds are still below their pre-Covid levels as they tend to focus on those bigger companies that are seen as safe bets, and when you consider that the FTSE 100 is still 10% below its pre pandemic level, your pension fund could be a lot worse.
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Thanks, that's good to know, hopefully then if the big companies you quote recover then so will the Pension fund. I asked for a quote on my Aviva fund in June, they sent me a letter in August (apologised for the late reply) stating the value of the pot could only be guaranteed until the 29th June!

It's an old fashioned fund that can't be managed or tracked online, bit frustrating.
 
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