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Northern rock
Range Rover Blues:
No, sorry but I stand by that. The best advice I ever had about trading in stocks and shares was "never invest money you can't afford to loose"
I invested in Freinds Provident just before 9/11, I lost over half of what I put in. That is the risk you take, when I bought them I expected to make a nice 10% on my investment as they were offered at a preferential rate, my pension is with them.
Instead I lost out :roll: .
I don't expect any compensation for my loss, but if they cough up for Northern Rock shareholders then I'll be asking about mine.
Same with investment funds, your financial adviser should give you all the information about how much risk will be involved in your fund, higher returns involve higher risks.
You invest your money and take your choice. If the risk is taken away then it becomes interest, that apparently my tax is paying for :evil:
By perverse coincidence I invested the same amount in FP as I appear to have lent to Northern Rock :?
Range Rover Blues:
--- Quote from: "DiscoveRay" ---Panda wrote:
So how about if they buy shares and they do really well and they make loads of profit do we get to see some of that money??
Yes, it's called Capital Gains Tax.
Ray
--- End quote ---
Is it? isn't there a personal allowance on capital gains tax?
Eeyore:
--- Quote from: "Range Rover Blues" ---
You invest your money and take your choice. If the risk is taken away then it becomes interest.
:?
--- End quote ---
Thats fair comment, but the rest of the opening tirade was badly phrased and, I have to say, pretty unwelcome as a consequence.
It also shows, and I'm sorry to have to say this, a certain naivety of how the international money business works.
I would politely suggest that a step back is taken from this discussion by all parties until such time that they are prepared to take a slightly more open view at the issues. It's either that or it gets locked, I'm afraid.
Cheers
8)
Eeyore
Lozza:
I think there is a misunderstanding of the word "shareholder."
If you purchase shares on the stock market then you are told quite clearly "the value could go down as well as up". You are taking a gamble and 3rd parties do not want to cover peoples losses. As someone said - if a profit was made it would not be shared out.
However, I don't believe anyone would want so see innocent investers lose their money - ie deposit holders who have saved for their retirement, pensions holders etc.
At the end of the day - NO-ONE deserves to lose their hard earned cash - I think the point is about who would cover the losses.
As a Bank Manager I would like to see other Financial Institutions put their hands in their pocket because ordinary folk will lose faith in the industry otherwise.
We need to remember : It is difficult to put into words what you really mean and we should try and understand each others point of view without trying to see hidden meanings in what people post. I'm sure the majority of people don't want to upset others - they just want to express an opinion.
DiscoveRay:
Range Rover Blues wrote:
Is it? isn't there a personal allowance on capital gains tax?
Yes, of course, this allows small investors to take some tax free profit on their risky investment and any other unearned income. Panda's question was specific to people who 'made loads of money' - that's the question I answered.
After years of 14 hour days and 7 day weeks, I sold my company and 'retired' at the age of 52 when I realised I was no longer an employer, just an unpaid government social worker. I live off my small portfolio of investments, all low risk. I did not have shares in Northern Rock, in fact I no longer hold any UK shares, nor will I currently invest in UK property.
We now produce little in this country, the financial sector kept us going, this is now in freefall - recession? Watch this space!
Ray
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