Where do you put cash sitting in a SIPP? Nowhere I’m guessing ?
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I almost bottled it today as well. It’s been painful watching the value of investments and SIPP plummet in the last two weeks.
In the end, I figured that to a large extent, the markets tend to price in the future feeling and sentiment well ahead, so while I tend to agree that things might get worse still, I fear that if I sold out now, I would very possibly miss the buy back timing and end up having to pay more to buy back in in the coming months. That would be even more painful.
I personally felt that it’s safer to just let it be and ride it out. In 15 years, the graph will just show another blip in 2020, much like the one that there was in 2008.
ETA - obviously this tac very much depends on your age and time to retirement.
Last edited by mr noble; 17th March 2020 at 20:22.
Everyone has to make their own call and that all depends on age and circumstances.
I’m hoping to ease into retirement and bailing kept those plans pretty much on track. Deeper losses would have messed things up. I plan to re enter the market in due course and for sure I will probably miss some gains but I can manage that more than the prospect of deeper losses.
Will be interesting to see how the market reacts to today’s financial measures.
Ae you saying an ounce of coins costs £80 more than an ounce of gold bar?
That would be expected, as you cannot buy one ounce of gold bar but only a kilo - smaller quantities always carry a premium. Also, the coins don't mint themselves, and the dealer network also needs to be financed. Obviously, there is also an element of demand and supply in that premium, but not sure it reacts much to external events. Is there a chart where you can track the premium? A quick google returns this, no development over time but at least an explanation of the various premiums for different coins.
I’d imagine if this really turns into the apocalypse, gold would be totally valueless. Toilet rolls and baked beans would be the currency of the world.
Sorry I wasn’t clear. The premium over the spot price (per oz.) when I was buying physical a few years ago was only around £15 or so ( I’m buying ounce bars rather than kilos, I’m not skyman you know ). I had a look on coininvest this week to see about topping up and the premium is around £80 per oz. over spot (spot was around £1250, to buy physical was between £1330-1350 depending on the product and large swathes were not available). This is on bars, there was was a premium on coins but if I’m honest I wasn’t really looking for coins so didn’t notice the figures.
Again, the spread is to be expected. I suppose the actual day-to-day fluctuation will be a product of dealer markup (which is whatever they will get away with charging), supply (how many places can you still buy these?) and demand (how many are asking for these?). So no big surprise that the spread is widening when people stumble over each other to buy bogrolls and canned beans. But still, the price is lower today than it was a week ago, which perhaps says something about the fact that institutional investors aren't buying the crisis-hedging qualities of gold but simply are selling because they see lower demand for jewellery going forward.
US markets have lost most of yesterday's gains again after Mnuchin warned of 20% unemployment rate, index futures are halted limit down and the DJ ETF is trading 4.5% lower.
Someone who lies about the little things will lie about the big things too.
There was some discussion earlier about investing in equities akin to gambling but bugger me investing in airlines right now is nothing more than a pure punt. Those massive wheelbarrow balls will be tiny little peanut balls soon.
Gold anybody?
https://moneyweek.com/investments/co...rce=newsletter
Any love for Royal Dutch Shell at the current price?
Deutsche Bank just lowered their GDP forecasts for Q2/2020. You better sit down before you continue reading this.
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Japan -3.9%. EuroArea -23.6%, Germany -28.4%, US -12.9%. Mind you, this is quarter-on-quarter, so not a full year projection. They say China's GDP has contracted by 31.7% in Q1 and will recover by 34% in Q2 (due to componding, this is -8.5% for H1/2020). Absolutely terrifying.
Holy smokes...it's hammer time...
Last edited by Passenger; 18th March 2020 at 13:54.
Crazy times indeed. Only a swift conclusion to current measures would have a positive effect, otherwise it looks like we are in for quite a long bumpy ride. Hold onto your hats!
It's just a matter of time...
Peter Loy's scarce/collectable s/h Leica lenses seem to be selling as soon as they're listed … collectable (especially usable collectable) Leica items hold their value … demand usually steady/good
http://www.peterloy.com/stock-list.php
"Well they would say that ... wouldn't they!"
https://www.ii.co.uk/analysis-commen...yield-ii510928
I will add to my Shell at some point but I'm nervous about the Company's business health.
If Shell go we may as well pack up and go home
They have stopped, (maybe just for now), their share buy back scheme
What is happening is an attack on our basic democracies by this invisible enemy, economies are being destroyed, the world has gone to war for far far less, if you see what I mean!!
We will get through this, a friend of mine works with a factory making electronics in China, he reports they are all back at work apart from workers at home for child care. They thinks schools will reopen soon but no official word yet.
My nephew is in lockdown as he teaches English in China. He’s still in lockdown but says there is more movement in his area.
China are a couple of months ahead of us.
There will be significant economic problems but I don’t see this as the end of the world.
Of course it's not the end of the world and we have a lot to be grateful for
But I am 73 and although I accept that I will be in "lockdown" for the next 6 months for my own good, it will be much longer than that before a vaccine has been developed and is available to the general population.............without this the "at risk" groups of people all around the world could be basically house bound for more than a year as this virus could be like the flu virus, but more deadly to the "at risk" groups: so the risk of infection could be with us for a matter of years not months.
We are already on one bottle of wine a night, but we have just ordered "a quantity" in case they run out - not French, but S African
I've thought for a long time that my trigger point to dive back into the market (if the bottom fell out) was the Dow at 19900, but now I don't think so.
It could still be early days.
It's just a matter of time...
Video conferencing, holographic / VR conferencing,.
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
Dow 18k is happening imo. 16k not impossible. This guy wearing a Dow 15k hat to work today is hilarious. Only weeks after the other two traders wearing Dow 28k and Dow 29k hats.
The £ is now getting slaughtered
look at the live exchange rates
lowest against the $ for 30 years
and 1.06 against the f.......ing Euro