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Buy the dip.

Discussion in 'Randomination' started by Danishfurniturelover, 28 Feb 2020.

  1. SpurMeUp

    SpurMeUp Dimitar Berbatov

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    Had to invest some cash to avoid pay tax. Why are we taxed so highly in the UK?

    @danish picked up that Lemonade insurer, as well as Rox or something a similar service. Didn’t put much into them, pretty risky bet as it’s unclear if the US public will embrace them. But with their valuations significantly down both represent fair value.

    Also risky I bought quite a lot of GoodXR. A drug dealing app that helps yanks save money. Again down significantly (because Amazon will enter their space). But their downloads, head start, and integration with doctors is promising so put in 13k. Could very easily double in value...or half! High risk stocks. Will either retire well off or broke


    Sitting on my porcelain throne using glory-glory.co.uk mobile app
     
  2. SpurMeUp

    SpurMeUp Dimitar Berbatov

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  3. scaramanga

    scaramanga Ricky Villa Staff Member

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    I'm interested in both sides of the deal
     
    Danishfurniturelover likes this.
  4. SpurMeUp

    SpurMeUp Dimitar Berbatov

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    Looking at the cars on there, someone is just testing the water, trying to prove the concept. It is the sort of thing I could see working with a small friendly group - who actually get to drive the cars and invest in appreciating assets. But not sure it works on a large scale.
     
  5. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    That was my concern, I love classic cars. Interesting concept and something to keep an eye on.
     
    scaramanga and SpurMeUp like this.
  6. markysimmo

    markysimmo Johnny nice-tits

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    Bernie Madoff, a Wall Street financier disgraced after he admitted to one of the biggest frauds in US financial history, has died in prison at age 82.

    His death was announced by the Bureau of Prisons.

    Mr Madoff had been serving a 150-year sentence after he pleaded guilty in 2009 to running a Ponzi scheme, which paid investors with money from new clients rather than actual profits.

    It collapsed during the 2008 financial crisis.

    "Bernie, up until his death, lived with guilt and remorse for his crimes," his lawyer Brandon Sample said in a statement.

    "Although the crimes Bernie was convicted of have come to define who he was - he was also a father and a husband. He was soft spoken and an intellectual. Bernie was by no means perfect. But no man is."

    Exceptional returns
    Mr Madoff,the son of European immigrants who grew up in New York,set up his eponymous firm Bernard L Madoff Investment Securities in 1960.

    The company became one of the largest market-makers - matching buyers and sellers of stocks - and Mr Madoff served as chairman of the Nasdaq stock exchange.

    The firm was investigated eight times by the US Securities and Exchange Commission because it made exceptional returns.

    But it was the global recession which effectively prompted Mr Madoff's demise as investors, hit by the downturn, tried to withdraw about $7bn from his funds and he could not find the money to cover it.

    [​IMG]IMAGE COPYRIGHTGETTY IMAGES
    image captionVictims of Mr Madoff's fraud included celebrities and everyday people
    He confessed the problem to his sons, who went to the authorities.

    The list of those scammed included actor Kevin Bacon, Hall of Fame baseball player Sandy Koufax and film director Steven Spielberg's charitable foundation, Wunderkinder.

    UK banks were also among those who lost money, with HSBC Holdings saying it had exposure of around $1bn. Other corporate victims were Royal Bank of Scotland and Man Group and Japan's Nomura Holdings.

    But it was not just the elite and large firms who were victims of the fraud.

    'We thought he was GHod'
    School teachers, farmers, mechanics and many others also lost money.

    "We thought he was GHod. We trusted everything in his hands," Nobel Peace Prize winner Elie Wiesel, whose foundation lost $15.2 million, said in 2009.

    In court, Mr Madoff said that when he started the scheme in the 1990s, he hoped it would only be for a limited time.

    "I cannot adequately express how sorry I am for what I have done," he said in March 2009, when he pleaded guilty.

    "I realised that my arrest and this day would inevitably come."

    The scam involved an estimated $65bn, a figure that included gains Mr Madoff's clients believed they had made due to fake account statements.

    Of the more than $17bn in cash losses, more than $14bn has been recovered.

    Last year, Mr Madoff requested early release from prison citing health problems, including kidney disease. In an interview with The Washington Post he said he had "made a terrible mistake."

    "I'm terminally ill," he said. "There's no cure for my type of disease. So, you know, I've served. I've served 11 years already, and, quite frankly, I've suffered through it."

    Judge Denny Chin denied Mr Madoff's request, noting many victims were still suffering due to their financial losses.

    "I also believe that Mr. Madoff was never truly remorseful, and that he was only sorry that his life as he knew it was collapsing around him," he wrote.

    At least two investors with Mr Madoff committed suicide after their losses. His son Mark also killed himself on the second anniversary of his father's arrest. His other son, Andrew, died of cancer in 2014.

    Mr Madoff is survived by his wife, Ruth Madoff, who maintained she was unaware of the scheme and was never charged. Prosecutors let her keep $2.5m from the the $825m fortune the couple once possessed.
     
  7. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    I do wonder whether the Americans will force amazon to break up.
     
  8. SpurMeUp

    SpurMeUp Dimitar Berbatov

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    I doubt it. But it is turning into a global monolith. There is no competing with it. It's ingrained. And it pays barely any tax. More likely that they get these tech companies paying fair amounts of tax.

    I didn't do my research yesterday morning and was rushing to invest while the market was down. Read for about 15 mins, then pressed the button on the shares above. Then really researched them in the afternoon. Have some regrets with GoodXR. Its not flavour of the month, and I wasn't aware of its PE ratio, and cost of sales (how much they spend to generate a customer) being so high (excuse the pun). But I'm in now. I almost sold it right away on the same day! One thing made me hold it - the genuine App reviews...the Apps underlying fundamentals are sound. People love it. In the US it saves people $50 a week. It has a loyal user base who pay for the Gold membership and it saves its users lots of money. But Amazon getting in...or the US government reforming the way drugs are priced may scupper their model. That won't happen tomorrow, so I'll stick with it as drug dealing makes money. And yanks love their drugs! We should start a substance thread. Anyone tried DMT? It lasts only 20 mins or so, but is supposed to be the most profound trip:

     
    Last edited: 14 Apr 2021
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  9. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    The young girl who i am friends with from work gave me some pregablin and it is great but you build up a tolerance quick to it.

    I'm not sure on amazon what will happen. But it is getting far to big.
     
  10. P.D.

    P.D. Vedran Corluka

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    I blame all these trading apps, makes trading too easy. I bet all the trading plaforms make a killing out of people buying then selling again within a week when the price hasn't shot up.
     
  11. SpurMeUp

    SpurMeUp Dimitar Berbatov

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    Yes its too easy. And these Apps hide the fees so effectively. Moral of the story is do the research. The best research isn't news articles (though they are important). Once the piece has been written the knowledge is outdated. The best insights are things you experience or see with companies directly, or people in companies you talk to who can give you first-hand info on demand etc. Rising demand that you can see and make a logic for before the masses do; ideally backed up by standard things like a low PE ratio, analysts insights etc. is optimal.

    I think GoodXR will come good. As the US opens up, people will be getting to the doctors and needing more drugs. So will hold and find out.
     
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  12. ricky2tricky4city

    ricky2tricky4city Christian Ziege

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    That's good advice @SpurMeUp.

    There is the old saying....if you see a bandwagon, it's already too late to jump on.
     
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  13. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    Freetrade price doing well.
     
  14. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    Disney realising their first quarter results this week which should be interesting...
     
  15. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    IAG dropped 6 per cent good time to buy in more.
     
  16. awesome dawson

    awesome dawson Jermaine Jenas

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    Have you a link to their price? I didn’t know they’d floated.
     
  17. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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    No it is on the resale market for members.
     
  18. awesome dawson

    awesome dawson Jermaine Jenas

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    just for the first round? I bought some over a year ago, can’t even remember what I paid a share but apart from the FT forum wouldn’t know where to find out info on their value.

    edit, just found it on the forum 3.77 a share. Membership numbers are flying.
     
    Last edited: 12 May 2021
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  19. P.D.

    P.D. Vedran Corluka

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  20. Danishfurniturelover

    Danishfurniturelover the prettiest spice girl

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