master day trader update !?

[DimPrawn]

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.

[BrilloPad]

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]

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

Setup new banks.

It's called Capitalism.

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

[TimberWolf]

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]

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.

[d000hg]

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]

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]

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

Setup new banks.

It's called Capitalism.

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]

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]

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?