Blood curdling doom on the Stock Market

[AtW]

For me, a good time to use some of my cash reserves to buy bank shares. £300 will get me 1000 Lloyds shares just now compared to it taking £4000 in 2007.

In 2007 LTSB was a sound bank that was conservative with mortgages, but later they bought tulipy Halifax with massive crazy commercial debts, tulip mortages and singing branch manager to boot.

[DimPrawn]

For me, a good time to use some of my cash reserves to buy bank shares. £300 will get me 1000 Lloyds shares just now compared to it taking £4000 in 2007. It'd need the bank to go completely bust for me to lose too much on that yet if they recover in, say a decade or so, then I'll be happy at the profit.

Absolutely no point in taking short-termist views in the current market. Get in at the cheapo prices, hang on for the rodeo ride and use money you can afford to lose or tie away for a decade.

Thanks for the advice, but sounds very risky to me. Lose money, tied up for a decade, etc. Total punt. And for that reason, I'm out.

[minestrone]

Bloody hope so.

Btw, Gold is above $1800...

And to think we sold it all for $300

[craig1]

In 2007 LTSB was a sound bank that was conservative with mortgages, but later they bought tulipy Halifax with massive crazy commercial debts, tulip mortages and singing branch manager to boot.

It'd be very naive to think that the banks won't at least retain the current ridiculously low value and most likely recover slowly over the next few years. Once they start getting profitable again (anyone REALLY believe that the banks won't get profitable again?) then they'll become the darlings of the stock market again.

[DimPrawn]

And to think we sold it all for $300

When you say "we"....Explain why you sold Britain's gold, Gordon Brown told - Telegraph

He should be jailed for that IMHO.

[AtW]

Once they start getting profitable again (anyone REALLY believe that the banks won't get profitable again?) then they'll become the darlings of the stock market again.

Right now it's more likely they'll have more bad debts.

In all probability the gold age of high banking profits is gone forever.

[Churchill]

It'd be very naive to think that the banks won't at least retain the current ridiculously low value and most likely recover slowly over the next few years. Once they start getting profitable again (anyone REALLY believe that the banks won't get profitable again?) then they'll become the darlings of the stock market again.

Word of advice, ignore AtW, he knows **** all about **** all.

[craig1]

Thanks for the advice, but sounds very risky to me. Lose money, tied up for a decade, etc. Total punt. And for that reason, I'm out.

£300... less than a net day's income, if I lose it then I just work another day

[AtW]

He should be jailed for that IMHO.

That would set a very dangerous precedent of jailing for incompetence and/or making big mistakes whilst holding public office...

[craig1]

Right now it's more likely they'll have more bad debts.

In all probability the gold age of high banking profits is gone forever.

Although I do agree with you there, even if they recover to 1/5th of their previous market high then I make a nice profit