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rootsnall
29th September 2008, 07:40
SAS, can we have an update on your positions now that the markets have soared today ?

( Luckily I didn't go back in RBS, had a dabble with Lloyds for a small hit )

BrilloPad
29th September 2008, 07:47
SAS, can we have an update on your positions now that the markets have soared today ?

( Luckily I didn't go back in RBS, had a dabble with Lloyds for a small hit )

MARKET DATA - 08:44 UK
FTSE 100 5006.27down -82.20 -1.62%

:confused:

rootsnall
29th September 2008, 08:06
MARKET DATA - 08:44 UK
FTSE 100 5006.27down -82.20 -1.62%

:confused:

I was being sarcastic ;)

The theory was when the US signed the wonder deal the markets would soar.

Looking at the HBOS price I would bet the Lloyds buyout is going to fall apart :eek:

SELL SELL SELL !!! Everything and anything.

BrilloPad
29th September 2008, 08:09
I was being sarcastic ;)

The theory was when the US signed the wonder deal the markets would soar.

Looking at the HBOS price I would bet the Lloyds buyout is going to fall apart :eek:

SELL SELL SELL !!! Everything and anything.

ahhh - can I blame it on Monday morning or do I have to admit to being gullible? :emb

I sold most things - only my body left... :eek:

HairyArsedBloke
29th September 2008, 08:15
SELL SELL SELL !!! Everything and anything.

Already have. I had to borrow the last lot of stock I sold.

chef
29th September 2008, 08:26
just called HSBC this morning the GBP to EUR rate is 1.2401 :banana:

invoice is due to be paid today from euros to pounds :music:

rootsnall
29th September 2008, 08:29
ahhh - can I blame it on Monday morning or do I have to admit to being gullible? :emb

I sold most things - only my body left... :eek:

I sold just about everything at about FTSE 6300 :banana:

BUT I'm now trying to be a smartarse and bottom pick and am chucking away my earlier master stroke. :mad:

DimPrawn
29th September 2008, 08:30
I sold just about everything at about FTSE 6300 :banana:

BUT I'm now trying to be a smartarse and bottom pick and am chucking away my earlier master stroke. :mad:

Now is not the time to buy anything. Gather cash and Gold.

sasguru
29th September 2008, 08:31
Yes not looking good is it. I'm going to hold for now - I expect a bounce back later in the week when the deal is made law.

Incidentally this $700 billion dollar won't work - it ain't nearly big enough.

HairyArsedBloke
29th September 2008, 08:32
BUT I'm now trying to be a smartarse and bottom pick and am chucking away my earlier master stroke. :mad:
Too early.

DimPrawn
29th September 2008, 08:32
Incidentally this $700 billion dollar won't work - it ain't nearly big enough.

Indeed. If anything, this deal will make things much worse.

rootsnall
29th September 2008, 08:36
Now is not the time to buy anything. Gather cash and Gold.

The stockmarket does turn around pretty quickly though, all that stuff about buying when everybody else has given up ! With the government bailing everything out there is a bottom to some of the finance shares, I think we may be close for the sounder ones but what do I now. My theory is buy Lloyds as they'll pull out of buying HBOS.

BrilloPad
29th September 2008, 08:37
Yes not looking good is it. I'm going to hold for now - I expect a bounce back later in the week when the deal is made law.

Incidentally this $700 billion dollar won't work - it ain't nearly big enough.

That is pure guesswork - but you are probably right. The question is how much will be enough?

What is needed is honesty. A rare commodity for bankers.....

aussielong
29th September 2008, 08:38
Indeed. If anything, this deal will make things much worse.

So you know better than Bernanke & The Fed and US Congress, then do you?

What would you do then, and why? In less than 100 words please.

DiscoStu
29th September 2008, 08:40
So you know better than Bernanke & The Fed and US Congress, then do you?

What would you do then, and why? In less than 100 words please.

You can't question DimPrawn's financial savvy, he's a millionaire!

DimPrawn
29th September 2008, 08:41
So you know better than Bernanke & The Fed and US Congress, then do you?

What would you do then, and why? In less than 100 words please.

Let each bankrupt bank fail. Use taxpayers money to help depositors and borrowers only.

Setup new banks.

It's called Capitalism.

:cool:

DimPrawn
29th September 2008, 08:42
You can't question DimPrawn's financial savvy, he's a millionaire!

WHS

TimberWolf
29th September 2008, 08:42
You can't question DimPrawn's financial savvy, he's a millionaire!

Ex-Millionaire. I reckon Diver is the richest person on here.

aussielong
29th September 2008, 08:44
Let each bankrupt bank fail. Use taxpayers money to help depositors and borrowers only.

Setup new banks.

It's called Capitalism.

:cool:

Actually I agree of course. This is sending the wrong message to the banks about what they can get away with in future.

Also developing 3rd world countries that are being told by the US not to nationalise and opt for a freemarket economy. Double standards. This says capitalism does not work.

TimberWolf
29th September 2008, 08:45
Incidentally this $700 billion dollar won't work - it ain't nearly big enough.


Indeed. If anything, this deal will make things much worse.


$900 billion / $10 million each = 70,000 bonuses. Isn't that enough?

DimPrawn
29th September 2008, 08:46
Ex-Millionaire. I reckon Diver is the richest person on here.

Actually my wealth is rising. 70% of my wealth is in cash spread across multiple bank and in Gold and Oil and some other commodities.

Boomed mate!

Bring on the Credit Crunch.

:banana:

BrilloPad
29th September 2008, 08:47
The stockmarket does turn around pretty quickly though, all that stuff about buying when everybody else has given up ! With the government bailing everything out there is a bottom to some of the finance shares, I think we may be close for the sounder ones but what do I now. My theory is buy Lloyds as they'll pull out of buying HBOS.


LLOY = 273 - current market
1 HBOS = 0.83 LLoyds - agreed share merger
So in theory HBOS should be 226.5(0.83*273)

but HBOS=175 - current market

So the market agrees with you....

TimberWolf
29th September 2008, 08:47
Let each bankrupt bank fail. Use taxpayers money to help depositors and borrowers only.

Setup new banks.

It's called Capitalism.

:cool:

No, let the banks fail and debtors off the hook. Depositors gambled and lost, let the debtors win for once.

TimberWolf
29th September 2008, 09:11
Actually my wealth is rising. 70% of my wealth is in cash spread across multiple bank and in Gold and Oil and some other commodities.



Can you buy Gold bullion (and physically hold it) or do you have to buy shares in Gold mining companies?

Cyberman
29th September 2008, 09:29
New Lie are thieving assets from the banks and anybody with any sense will see that they are implementing their policies in earnest and should avoid investing in banks.
HBOS and Lloyds still need moneymarket funds in the near future to the order of hundreds of billions so they are still at risk of nationalisation. :rolleyes:

d000hg
29th September 2008, 09:32
Can you buy Gold bullion (and physically hold it) or do you have to buy shares in Gold mining companies?I thought in commodity trading, you don't (normally) keep it in your garage, but you do actually own it, rather than shares.

All my knowledge of commodity trading is based on the Dick Francis novel "Hot Money" though...

DimPrawn
29th September 2008, 09:35
Can you buy Gold bullion (and physically hold it) or do you have to buy shares in Gold mining companies?


Elizabeth Duke Gold Sovereign Rings. I've got three on each finger now.

ace00
29th September 2008, 09:38
Let each bankrupt bank fail. Use taxpayers money to help depositors and borrowers only.

Setup new banks.

It's called Capitalism.

:cool:

I agree in principal, but in the current crisis bank failures would lead to more failures, deflation, economic contraction on a huge scale (like global equities -80%), widespread bankruptcy, 15% interest rates, massive spike in unemployment, global depression. The whole 9 yards.
I think that's the whole problem, but I'm no expert.

DimPrawn
29th September 2008, 09:39
I agree in principal, but in the current crisis bank failures would lead to more failures, deflation, economic contraction on a huge scale (like global equities -80%), widespread bankruptcy, 15% interest rates, massive spike in unemployment, global depression. The whole 9 yards.
I think that's the whole problem, but I'm no expert.

Sounds like the end to every Labour term to me.

TimberWolf
29th September 2008, 10:14
I thought in commodity trading, you don't (normally) keep it in your garage, but you do actually own it, rather than shares.

All my knowledge of commodity trading is based on the Dick Francis novel "Hot Money" though...

You mean some kind of intermediary holds 'your' Gold and use it as an asset with which they can lend to other banks or property investors?

d000hg
29th September 2008, 10:22
I always viewed it in my mind that somewhere, there's a pallet of tea-leaves with your name on it, but I'm sure the reality is far more abstract... like how you can choose where your electricity comes from...

I'd love to hear from someone who actually knows...

rootsnall
29th September 2008, 11:10
Phew ! I'm glad I went for Lloyds ( 12% down ) instead of RBS ( 14% down ) for my trade of the day.

HairyArsedBloke
29th September 2008, 11:14
Phew ! I'm glad I went for Lloyds ( 12% down ) instead of RBS ( 14% down ) for my trade of the day.

:spel 17

DiscoStu
29th September 2008, 11:18
Elizabeth Duke Gold Sovereign Rings. I've got three on each finger now.

You are Bobby George and I claim my 5 gold-plated darts.

OwlHoot
29th September 2008, 11:25
Actually I agree of course. This is sending the wrong message to the banks about what they can get away with in future. ..

I seem to recall Labour a few years ago applying a lot of pressure on UK banks to be less discriminating about "social loans" to people on low salaries etc.

HairyArsedBloke
29th September 2008, 11:28
I seem to recall Labour a few years ago applying a lot of pressure on UK banks to be less discriminating about "social loans" to people on low salaries etc.

YES, same in the US. Many have pointed this out: sub-prime debt was generated by left-wing dogma.

It was further exploited by use of the weath effect to maintain governments on both sides of the Atlantic in power.

ace00
29th September 2008, 11:33
I always viewed it in my mind that somewhere, there's a pallet of tea-leaves with your name on it, but I'm sure the reality is far more abstract... like how you can choose where your electricity comes from...

I'd love to hear from someone who actually knows...

It depends on your asset class.
Rough guide, you can buy:
1. Gold assets backed by physical gold.
2. Gold assets backed by a promise to refund the asset at market price.
3. Leveraged gold (backed by a promise to refund the asset at x market price)

ace00
29th September 2008, 11:38
Sep 29 7:18am† Change %Change Level

FTSE 100 -3.58%
XETRA-DAX -3.00%
CAC 40 -3.14%
HANG SENG -4.29%

US time.
Bailout plan agreed. Doom continues. It's cold today too.

SantaClaus
29th September 2008, 13:41
Buy Hogs heads, sell your granny.

thats my trading advice for today

Churchill
29th September 2008, 13:43
Buy Hogs heads, sell your granny.

thats my trading advice for today

Pork bellies, Shirley?

BrilloPad
29th September 2008, 14:09
Buy Hogs heads, sell your granny.

thats my trading advice for today

I sold her last week. I will buy her back next year.

rootsnall
29th September 2008, 14:59
Come on SAS how much are you down ?

I think today must qualify as a BLACK MONDAY, 4.5% down at the moment.

Dead cat bounce tomorrow or more DOOM !!!

TimberWolf
6th October 2008, 21:28
Actually my wealth is rising. 70% of my wealth is in cash spread across multiple bank and in Gold and Oil and some other commodities.

Boomed mate!

Bring on the Credit Crunch.

:banana:

:eek: