Stock Market 2021

[Ponty]

Yeah, a generalisation but the process can be messy (not the property), i.e. it's put on the market before probate has even been granted and you find that out months after delays on the promise that'll it'll be coming soon (rarely does). But if it all goes well it can be great.

It can indeed be messy. I bought a probate a couple of years ago. The executors were delusional over the ‘value’ so ended up chasing the market (at the time) down. My cash offer 35% below silly asking price was eventually accepted. Turns out the place had an equity release agreement on it. If they’d priced realistically in the first place, they’d have saved a years worth of rolled up interest and ongoing costs.

Meanwhile the markets seem back to normal after the US inflation scare. God knows what will happen when IR’s actually start increasing.

 

[andyoz]

It can indeed be messy. I bought a probate a couple of years ago. The executors were delusional over the ‘value’ so ended up chasing the market (at the time) down. My cash offer 35% below silly asking price was eventually accepted. Turns out the place had an equity release agreement on it. If they’d priced realistically in the first place, they’d have saved a years worth of rolled up interest and ongoing costs.

Meanwhile the markets seem back to normal after the US inflation scare. God knows what will happen when IR’s actually start increasing.

Yeah, I haven't been caught out with probate but know a few that have. When it goes wrong, it goes very wrong. I just wouldn't go there if there's other stuff available. In booms, the shit rises to the top LOL.

I also topped up on a few funds yesterday. Hard to fight the urge to just sit on your hands though when there's alot of RED. Still leaving alot of cash to the side if there is a biggie big fall.

 

[Ponty]

Some interesting thoughts from James Anderson as he prepares for retirement.

https://apple.news/ANNG7KapWQueQ_U4d7POKPQ

 

[andyoz]

BTC is dumping...it must be Sunday then...

 

[matt j]

Regular as clockwork!

 

[Amber Audio]

 

[Kirk]

Musk has followed up with another tweet. Suspect he's trolling the SEC.

 

[andyoz]

BTC is dumping....it must be Sunday then...

Musk has followed up with another tweet. Suspect he's trolling the SEC.

He's a dick!

I still predict by this time next year he may not be the golden child anymore.

My only theory is government has a "hands off' approach with him because they need Space X to stick around (NASA's been a mess for decades) and need Tesla to continue. Both of those things are part of the US tech fight with China. Similar to the space race with Russia 60 years ago.

A few million investors getting sold down the river is just collateral damage in that fight

 

[Ponty]

Holy smoke, average asking price now a third of a million. Better relax lending so people can pay it…

https://www.theguardian.com/money/2021/may/17/average-asking-price-for-uk-homes-hits-record-333564

 

[andyoz]

Holy smoke, average asking price now a third of a million. Better relax lending so people can pay it…

https://www.theguardian.com/money/2021/may/17/average-asking-price-for-uk-homes-hits-record-333564

It's not just the average price metric to consider, but also the quality of the housing stock!

 

[andyoz]

Are some taking Crypto profits and rotating them into Gold, Silver and miners GDX, GDXJ then (as I predicted)...

If so, thanks Elon for that one

 

[matt j]

Yes thanks also Elon for the cheap BTC, now please keep your gob shut! (unlikely)

Ultimately he won't want it to tank anyway as he hasn't sold any yet, I don't think he is interested in writing that off.

I find it hard to believe that someone supposedly so tech savvy didn't know the energy consumption generated by crypto mining before he bought it only a couple of months ago, if he is that concerned why did he buy in to begin with? It's all a charade.

 

[Amber Audio]

Yes thanks also Elon for the cheap BTC, now please keep your gob shut! (unlikely)

Ultimately he won't want it to tank anyway as he hasn't sold any yet, I don't think he is interested in writing that off.

I find it hard to believe that someone supposedly so tech savvy didn't know the energy consumption generated by crypto mining before he bought it only a couple of months ago, if he is that concerned why did he buy in to begin with? It's all a charade.

Yep, swithering whether to cash out and buy something metal and very fast that uses petrol or HODL for a couple years and wait for the next ATH, not sure if this is gonna be a full on dump or not, my MATIC is going the other way

 

[matt j]

Yep, swithering whether to cash out and buy something metal and very fast that uses petrol or HODL for a couple years and wait for the next ATH, not sure if this is gonna be a full on dump or not, my MATIC is going the other way

MATIC was a great buy, did you get in early? I was in at 5c but I cashed out early on with a small profit, should have just bloody held it!

 

[Amber Audio]

MATIC was a great buy, did you get in early? I was in at 5c but I cashed out early on with a small profit, should have just bloody held it!

Not that early but yeah a wee while ago around 35, the project has legs so I might hold it, I've got all my stake out and then some over the last 4 years and done OK on normal stuff for our SIPPS/ISAs, nothing really makes sense with any markets so I've stopped fretting.

Fluke buy was BNB a few years ago put a bunch of money over to Binance and bought them to save fees, $10 I think, not Lambo money buy a nice boost

 

[matt j]

Not that early but yeah a wee while ago around 35, the project has legs so I might hold it, I've got all my stake out and then some over the last 4 years and done OK on normal stuff for our SIPPS/ISAs, nothing really makes sense with any markets so I've stopped fretting.

Fluke buy was BNB a few years ago put a bunch of money over to Binance and bought them to save fees, $10 I think, not Lambo money buy a nice boost

Yep I was reading about BNB potential very early on in this market ($1200 was being quoted) and bought a load at $40, but again I was out way too early and only made a small profit.

 

[Amber Audio]

Yep I was reading about BNB potential very early on in this market ($1200 was being quoted) and bought a load at $40, but again I was out way too early and only made a small profit.

If you have the time and patience to really graft at the market and do the maths there's loads of potential to make a heap of dosh day trading but I have neither so tend to pick stuff and hold till it doubles then sell half and hold, took a bath on a few coins but got lucky with a few like into BAT at 13c was $1.50 the other day

 

[Rana]

I still predict by this time next year he may not be the golden child anymore.

Well these videos seem well researched and don't even start to address his more recent financial manipulations. First video concentrates on his "Paypal" days and second on Tesla. Prior to crypto market manipulations which succeed these videos in date, they calculate his justifiable net wealth from Tesla to be $2b which seems a bit harsh.

 

[andyoz]

^^^ In Video Part 1 from 03:30 onwards LOL

 

[sean99]

Just got an email from a plumber who came to give us a quote for a new boiler and radiator. 30% price increase across the board from the end of May.

It's a good job inflation is contained. I think there will be many more jumping on the "just passing on increased costs" wagon and inflation could get quite out of hand over the next 6-12 months.