Investing club

Discussion in 'Yellow Pages' started by hornmeister, Dec 20, 2017.

  1. reids

    reids Squad Player

    I use an app called Freetrade which I really like (although GameStop shares are on their Plus plan which is £10 a month - although AMC and Blackberry are free), if you sign up and fund your account by following my link we both get a random share of something worth between £3-200 (most likely worth around a fiver though!). Has a great range of stocks and ETFs etc.

    Join me and invest commission-free with Freetrade. Get started with a free share worth £3-£200. https://magic.freetrade.io/join/stuart/4c3730fa
     
    wfcmoog likes this.
  2. cyaninternetdog

    cyaninternetdog Forum Hippie

    Anybody know of a decent one that works on a browser and not through phone please?
     
  3. hornmeister

    hornmeister Club Legend

    Youinvest by AJ Bell is decent.
    https://www.youinvest.co.uk/

    There's a month % of holdings fee though.
     
  4. cyaninternetdog

    cyaninternetdog Forum Hippie

    Cheers, going to put £50 into NOK, seems to be the next one to go according to the WSB sub on reddit.
     
  5. luke_golden

    luke_golden Space Cadet

    Loads of trading platforms over here have stopped people buying into the stocks that ran up yesterday, and are only allowing holders to sell what they have.

    Clear manipulation of the market.
     
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  6. reids

    reids Squad Player

    Especially when the links become clear - https://www.cnbc.com/2019/04/18/a-c...IeJlKQCjEB060EcvgEB-SnhGp4aQqXes0I5Rw6_7g4q0A says here that Robinhood essentially act as a middleman by selling their orders to high frequency trading firms such as Citadel Securities.

    Guess who chipped in for the $3b bailout for Melvin Capital (the hedge fund getting wrecked) the other day? https://www.wsj.com/articles/citade...on-into-melvin-capital-management-11611604340 - Citadel securities.

    How convenient that Robinhood are now suspending buy trades (notice how you're still allowed to sell, just not buy)...

    All perfectly above board though I'm sure.
     
  7. luke_golden

    luke_golden Space Cadet

    Yep. I’ve been using Robinhood for the last 18 months or so. I won’t be in the future.

    They may have saved themselves in the short term, but this will be the end of Robinhood.

    So much for the free market!
     
  8. Clive_ofthe_Kremlin

    Clive_ofthe_Kremlin Squad Player

    Haway the youth! Go get 'em kids!

    Glad to say our eldest, Aethelred the Unready, was in on this. He's made about £87 last time he showed me. Poor old Melvin is getting roundly shafted. They won't stop there of course. They're determined to bring them all down. They're going to hoist them with their own petard. They've had enough and who can blame them. The inequality and everything. I always pointed out that we had identified the fact that everything about capitalism is for sale (by the nature of the beast) as an achilles heel and the way we might bring it down by making it eat itself. Well they've only gorn and done it!

    Bless every last one of 'em! Start packing your suitcases capitalists - your time is nearly up!
     
  9. cyaninternetdog

    cyaninternetdog Forum Hippie

    If this is a movement then it has only just started.
     
  10. hornmeister

    hornmeister Club Legend

    Pensions both private and corporate, charities, council tax saved funds etc infact all savings & investments will suffer off the back of this as will people who take the advice and invest too late.
    Who wins? The brokers that make a small percent on each trade who will gleefully run off to their coke dealer.

    Investing is there to lend money to companies to invest grow and employ people, where a profit can be returned to those that have lent the money by way of a dividend. Manipulation of the market just rips off the people saving for their future and potentially puts businesses and people out of work. Those same mugs who lost money on the stocks then have to support them through taxation.

    There's nothing good about this sort of crap and the sooner its stopped the better.
     
  11. cyaninternetdog

    cyaninternetdog Forum Hippie

    From what I can make out the stock markets are being manipulated all the time anyway, just this time its by the average Joe and not by wolf of wall street types.

    Remember a lot of these ****s got away scot free in 2008 and were even rewarded for their massive **** ups while a lot of the average people lost their houses and jobs.
     
  12. cyaninternetdog

    cyaninternetdog Forum Hippie

    Its got to the point now where the robnhood app which is owned by citadel group has stopped people buying certain shares but will allow them to sell them. This is what its about, they dont want the average person to get rich, **** them.

    The financial times has had to back down after saying the WSB people have connections to the alt right, **** them.
     
  13. hornmeister

    hornmeister Club Legend

    I wouldn't be surprised if it's the same sort of people at the bottom of this particular scheme just manipulating social media anonymously without having to declare their financial interests.

    I worked at a City brokers for 5 years. These are the guys that make regardless of other profits & losses. As long as there's trading activity. Now there's a thought I wonder if it's them that are driving this to keep their percentage rolling in. The extra activity has to help.
     
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  14. cyaninternetdog

    cyaninternetdog Forum Hippie

    I had wondered that to be honest. Reddit is a big website.

    https://old.reddit.com/r/wallstreet..._hedge_fund_citadel_pays_robinhood_for_their/ This is whats happening, shady as **** and a lawsuit is being filed against them haha.
     
    hornmeister likes this.
  15. If it is manipulation the only people getting hurt are shorters who have to buy at a huge loss to cover their positions

    Normal punters should steer well clear imo it's far too volatile and there is nothing good at the end of this ride
     
    hornmeister likes this.
  16. Arakel

    Arakel First Team

    Apparently Citadel (who own Robinhood) loaded up on shorts again before telling Robinhood to stop trading Gamestop.

    No evidence/source provided yet so unconfirmed.
     
  17. wfcSinatra

    wfcSinatra Predictor Choker 14/15

    Insane, forgot this was here.

    AMC climb has begun again, I'm selling at $25.
     
  18. Arakel

    Arakel First Team

    Apparently it was 2nd most shorted stock today so expect another fun day tomorrow. ;)
     
  19. miked2006

    miked2006 Premiership Prediction League Proprietor

    I absolutely agree with this.

    But I do have to say shorting hedge funds get the least of my sympathies (and I hope this makes pensions think twice about allocating their money to them).

    There are a few times in history where shorting has revealed fraud/ broken mechanisms that are being stupidly propped up. But in general, it feels like a gamblers game with little value added. You should buy shares in a company because you believe that it is allocating its money correctly and that it is going to grow, not because you want it to fail.
     
  20. The silly thing is, this is just creating a new shorting opportunity. When people get bored of this game those stocks are going to drop like a stone and anyone still in is going to lose.
     
  21. Cude>2<

    Cude>2< First Team Captain

    Think this is one to look out for Monday/Tuesday

    Any idea why Robinhood have limited nearly 50 stocks though? Some of them are hype like CCIV which is a mere rumour to merge with Lucid Motors which I can understand as if that gets confirmed it could rocket, but the ones like Starbucks confuse me as I wouldn't say its particularly volatile, I can only assume they are also fairly heavily shorted?
     
  22. reids

    reids Squad Player

    I read earlier that actually Robinhood didn't have enough money https://blog.robinhood.com/news/2021/1/29/what-happened-this-week to deal with the trades to deal with the influx of new sign-ups. They had to get $1B from their investors (https://www.nytimes.com/2021/01/30/...treet-gamestop.html?smid=tw-nytimes&smtyp=cur) in order to continue trading.
     
  23. luke_golden

    luke_golden Space Cadet

    Took my personal portfolio out of Robinhood after last week. Their brand and reputation has taken a hit that it’ll probably never recover from.

    I only really started playing around with the markets at the start of COVID-19, with a bit of spare cash I’d be okay with losing. It’s been really interesting, and I’ve learned a lot, sometimes the hard way.
     
  24. Cude>2<

    Cude>2< First Team Captain

    Interesting, thanks for that. I've seen that quite a few have followed Luke's move and switched to other platforms - think most have gone to SoFi due to Chamath - will be interesting to see how Robinhood handle the forthcoming week. WSB reddit has had over a million new followers over the weekend, and more people globally are now getting involved.
     
  25. Cude>2<

    Cude>2< First Team Captain

    I wish I started at that time - Started in November myself and have found it really interesting and a good way to occupy my mind during the recent lockdown. I've learnt a few lessons the hard way to, however thankfully nothing to severe - mainly if you have 100% gain it's a good time to take profits before it drops back to a 20% gain.
     
  26. luke_golden

    luke_golden Space Cadet

    Ha! I have also learned this. A few times. Equally, sometimes it’s better to hold than panic sell.

    Like you, it’s been a nice distraction from other things in the world, and I’ll find myself looking forward to Monday morning and the markets opening. Alongside some classes I’ve been taking in pursuit of a masters related to work, I’ve been able to take some theory and practice it myself, which has been interesting.
     
  27. sydney_horn

    sydney_horn Squad Player

    My wife is a "player" on Freetrade. She's done very well so far.

    Her strategy, if shares have a large gain, is to take out her original investment but let the profit ride. If the share price plummets then at least you haven't lost.

    She then takes out more as and when she feels the share value may have peaked but keeps some shares in case of further rises. She made about 700% on her original investment in Gamestop so far and still has a little in it!
     
    reids likes this.
  28. I lost a couple of k on my portfolio and I had nothing to do with this a action or these shares. I assume as hedge funds start to lose money they start selling other shares to raise cash, which affects the whole market? I’ll get it back, but everyones pensions will have taken a hit and for some I guess it may be crippling. So well done to whatever group instigated this.
     
    hornmeister likes this.
  29. sydney_horn

    sydney_horn Squad Player

    Yes, our "blue chip" longer term investments have taken a hit over the last week but I don't think it's wholly down to hedge fund jitters.

    However, if it is, then they will rebound. Any competent fund manager, including pension fund managers, should see this as a buying opportunity.

    Personally I think the market needs further regulating to prevent this kind of "manipulation" happening in the future. But that should also include better regulations of hedge funds who have used their money and influence to manipulate the market for their own benefit for far too long.
     
    hornmeister likes this.
  30. I’ll get my money back over time because my portfolio is mainly low risk blue chip and ETFs. People living off a drawdown pension now are affected now because there is less money in their pot now. People buying an annuity today get less bang for their buck today. Agree I’ve often thought shorting in particular should be regulated, there is a point it can damage recovery. I’d like to see some limits to the conditions it can be used.
     
  31. Optimistichornet

    Optimistichornet Penguin Assassin

    Been keeping my distance from the forum lately but saw the updates to this thread.

    @wfcSinatra i hope you sold out of AMC at $20?

    I have no investments in any of the shorted stocks mentioned above, but have been following with interest. For me the position was always far too volatile and risky to invest in. Unfortunately I think there are a lot of people who are going to lose a lot of money, particularly when they got in too late. Lots of people keep talking about there being a second rise but unfortunately I don’t see it and think they are grasping at straws.

    The interesting thing now will be whether hedge funds continue to short the stock, they might try and play private investors for fools. If that happens the stock could rise again, but I think it is very unlikely, too many people are going to have lost money.

    The problem is all the trading apps and a lot of online platforms don’t have the financial backing to support the man on the street investor financially. Anyone who bought shares on margin, will have lost a heap as the institutions were forced to sell their shares.

    Anyone got any other interesting shares or funds at moment? I was pretty happy with my portfolio performance over the last year, made a 30% gain overall and that was before my one gamble share of the year. I bought into greatland gold at 5p a share, and sold within 6 months at 35p. Some price drops recently but I will probably repurchase if the price drops below 20p a share in the foreseeable.
     
  32. wfcSinatra

    wfcSinatra Predictor Choker 14/15

    Sold at $16!

    My short foray into the WSB fun is over, back to investing into companies I believe in. I don’t know how to read charts nor do I feel the need too tbh, I’m an amateur but soak in as much info I can about companies and apply logic and look at companies I think have good business models and will be around in 10 years.

    My biggest positions are currently in NIO, Lemonade & Clover.

    I’ve also put a fair bit into IAG and easyJet hoping post pandemic life will bring them close to their highs.


    Sent from my iPhone using Tapatalk
     
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  33. hornmeister

    hornmeister Club Legend

    Yep. Pretty much it.
    Market manipulation screws the little man and puts legitimate companies out of business. Hedge fund managers will be fine. It's not big or clever and the coke dealers get richer.
     
  34. hornmeister

    hornmeister Club Legend

    I've got a feeling there will be a lot of volatility in the travel industry for a good couple of years at least. I expect more losers than winners and plenty of mergers. High risk imho but I wish you luck.
     
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  35. hornmeister

    hornmeister Club Legend

    Are annuities a thing any more? The rates have been awful for donkeys years. I've not put a client into one in a decade. I think the last calculation I did meant a client had to live to nigh on 100 to just get their money back,
     

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