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Cant Decide what to do with 20k

2»

Comments

  • #32
    Thargor
    Registered Users, Registered Users 2 Posts: 18,452 ✭✭✭✭Thargor


    Yeah the plug has failed, dammit, ah well it was a gamble with money I dont need, Im really not worried about it to be honest, considering a savings account for the year would have only netted me 3% max and I would have been just as worried about that with the way things are, who knows in a years time I could be glad I got in when I did, especially if they dont end up cutting the dividend. Things to remember are its a Transocean rig and there are other companies involved here aswell plus BP make about 6bn a quarter and the cost of this thing is only 1bn so far, I dont know, nothing to do but wait and see, if worst comes to worst at least it'll have been educational :p


  • #33
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    WildBoots wrote: »
    Put 7.5K into natural gas stocks, 2.5K of silver coins and the rest physical gold. You wont be sorry.

    You want him to purchase 10k of physical gold? Um for simplicity lets say its exactly 1k/ounce so the OP would under your advice purchase 10 ounces. He would then need to store this gold aswell as insure it himself. It is only worthwhile to buy physical gold if you have access to deep pockets like hedge funds. Why didnt you recommend a gold ETF

    Dude you still willing to eat your hat? Ive seen you called out on some of your other advice :)


  • #34
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    pocketdooz wrote: »
    Give it to me.

    I'll invest it for you for 2% fees per annum and 20% of any upside.


    (Joking by the way Mods, showing the irony of hedge funds)


    .

    The better funds go for 2.5%/25% :P


  • #35
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    Thargor wrote: »
    Ive been agonising over what to do with 20k for the last couple of weeks with all the crap thats been happening. I dont need the money and I dont mind a bit of risk, I dont think Im going to go for Rabofunds now with all the doom and gloom stories everyday about the declining dollar, inflation, the Euro crisis and the Asian property bubble, it just smells to my untrained nose like how I got burned by my other 30k worth of BoI smart funds that I bought during the boom that Im stuck with now for another couple of years.

    Do basically I just want to ask, what would you do with 20k? Im not interested in a stock portfolio at the minute as Im still educating myself. I wish Id put it in gold 6 weeks ago but thats 20:20 hindsight, would gold still be a safe investment longterm if I was to buy in next week do you think? Whats the best way to buy gold from Ireland anyway?

    Would really appreciate anyones advice on this.

    You dont mind a bit of risk? Exactly HOW MUCH risk are you willing to take on? If you lost all 20k on a leveraged derivative would you be going mad or would loosing just 5k make you go nuts?

    I see you invested in BP and some guy mentioned Apple - are you only interested in investing in big market caps? People cannot give advice until you make this very clear :)


  • #36
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    UpAgainToday wrote: »
    You want him to purchase 10k of physical gold? Um for simplicity lets say its exactly 1k/ounce so the OP would under your advice purchase 10 ounces. He would then need to store this gold aswell as insure it himself. It is only worthwhile to buy physical gold if you have access to deep pockets like hedge funds. Why didnt you recommend a gold ETF

    Dude you still willing to eat your hat? Ive seen you called out on some of your other advice :)

    What the hell are you on about ya dope?!


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  • #37
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    WildBoots wrote: »
    What the hell are you on about ya dope?!

    You said you would eat your hat to another poster if you were wrong about your ''advice'' - you told the OP to buy PHYSICAL GOLD and I am simply pointing about how stupid it was to say that, at least you now know not to ever say something like that again :)


  • #38
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    UpAgainToday wrote: »
    You said you would eat your hat to another poster if you were wrong about your ''advice'' - you told the OP to buy PHYSICAL GOLD and I am simply pointing about how stupid it was to say that, at least you now know not to ever say something like that again :)

    There's absolutely nothing wrong with buying physical gold.


  • #39
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    WildBoots wrote: »
    There's absolutely nothing wrong with buying physical gold.

    Advantages of buying physical gold over a gold ETF please


  • #40
    yuloni
    Registered Users, Registered Users 2 Posts: 2,040 ✭✭✭yuloni


    This post has been deleted.


  • #41
    Thargor
    Registered Users, Registered Users 2 Posts: 18,452 ✭✭✭✭Thargor


    Could I stretch towards a loan for a piece of property with a renal income if I could raise 35-40k myself these days do you think? Ive never really looked into property.


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  • #42
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    Thargor wrote: »
    Could I stretch towards a loan for a piece of property with a renal income if I could raise 35-40k myself these days do you think? Ive never really looked into property.

    Then you would have a loan which would be rather boring to pay off? Coupled with the fact your money would effectively be tied up for a long period of time earning no return in the hope of a sale with a lump sum profit then. Obviously you know this I just typed it out instead of saying 'No' - but once again it depends on your risk appetite which I dont think you have addressed yet lol


  • #43
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    UpAgainToday wrote: »
    Advantages of buying physical gold over a gold ETF please

    From what you've previously written about gold I've come to the conclusion you're talking through your backside. So I think I'll give the explanation a miss.

    BTW, what advice have I been "called out" on exactly?


  • #44
    Thargor
    Registered Users, Registered Users 2 Posts: 18,452 ✭✭✭✭Thargor


    I have no dependants and a decent lump sum from working ridiculous hours in crappy jobs all my life, Im 25, I have 10k to invest right now and another 20k to add to that in a months time when the 4.4% 1 year fixed account its sitting in in Anglo matures, I also have 10k in Prize Bonds I wouldnt mind investing in either as even though they do pay out the odd 75 Euro cheque I think my return has only been about 3% from them. I have only a basic knowledge of share trading, definitely never did any shorting or anything like that and I would probably want to stay away from that as I dont really want to be tied to a pc sh1tting myself every morning. I dont mind risk at all but it would piss me off if the money was completely wiped out, its all money I can afford to lose though so my risk appetite is pretty big.


  • #45
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    WildBoots wrote: »
    From what you've previously written about gold I've come to the conclusion you're talking through your backside. So I think I'll give the explanation a miss.

    BTW, what advice have I been "called out" on exactly?

    How about you STFU and explain to me the advantages of having physical gold in your back pocket

    I will have to go back to the thread but I do remember a few things you said quoted with people replying - I was simply highlighting the idiocy of your theory

    Please prove to me this isnt another idiotic theory of yours


  • #46
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    UpAgainToday wrote: »
    How about you STFU and explain to me the advantages of having physical gold in your back pocket

    I will have to go back to the thread but I do remember a few things you said quoted with people replying - I was simply highlighting the idiocy of your theory

    Please prove to me this isnt another idiotic theory of yours

    Why should I prove anything to you? You haven't a clue what you're talking about. You've proven that one yourself.


  • #47
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    Thargor wrote: »
    I have no dependants and a decent lump sum from working ridiculous hours in crappy jobs all my life, Im 25, I have 10k to invest right now and another 20k to add to that in a months time when the 4.4% 1 year fixed account its sitting in in Anglo matures, I also have 10k in Prize Bonds I wouldnt mind investing in either as even though they do pay out the odd 75 Euro cheque I think my return has only been about 3% from them. I have only a basic knowledge of share trading, definitely never did any shorting or anything like that and I would probably want to stay away from that as I dont really want to be tied to a pc sh1tting myself every morning. I dont mind risk at all but it would piss me off if the money was completely wiped out, its all money I can afford to lose though so my risk appetite is pretty big.

    Shorting has a certain stigma attached to it though - its not as scary as people in the news make it out to be.

    Okay well if you only have a basic knowledge probably best to stay in just stocks since any mistakes wont be as punished as heavily as the more lucrative options.

    Im not one bit interested in taking long positions in large market caps since personally im more interested in leveraged FX trading aswell as bets on them worthless penny stocks (yes I said bets....)

    The less knowledge you have of trading the more it forces you into the safer stocks but also the ones with less return - I will just be honest no one is going to give you good advice for free its just not going to happen, so IMO right now at your stage you dont really have many options possibly invest part of it in certain companies (i.e. Wells Fargo has a decent structure) however I havent looked at this stock in ages so who knows now - this will require your own research

    Once you have a few decent positions you may wish to unwind from these positions and maybe take a few small shots at potential stock pump plays aswell as oil exploration firms and see how you feel about the risk?


  • #48
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    WildBoots wrote: »
    Why should I prove anything to you? You haven't a clue what you're talking about. You've proven that one yourself.

    What do you do for a living?


  • #49
    chucken1
    Closed Accounts Posts: 3,761 ✭✭✭chucken1


    Thargor wrote: »
    Ive been agonising over what to do with 20k for the last couple of weeks with all the crap thats been happening. I dont need the money and I dont mind a bit of risk, I dont think Im going to go for Rabofunds now with all the doom and gloom stories everyday about the declining dollar, inflation, the Euro crisis and the Asian property bubble, it just smells to my untrained nose like how I got burned by my other 30k worth of BoI smart funds that I bought during the boom that Im stuck with now for another couple of years.

    Do basically I just want to ask, what would you do with 20k? Im not interested in a stock portfolio at the minute as Im still educating myself. I wish Id put it in gold 6 weeks ago but thats 20:20 hindsight, would gold still be a safe investment longterm if I was to buy in next week do you think? Whats the best way to buy gold from Ireland anyway?

    Would really appreciate anyones advice on this.

    Do you know what? My heart bleeds for you!


  • #50
    Thargor
    Registered Users, Registered Users 2 Posts: 18,452 ✭✭✭✭Thargor


    UpAgainToday wrote: »
    Shorting has a certain stigma attached to it though - its not as scary as people in the news make it out to be.

    Okay well if you only have a basic knowledge probably best to stay in just stocks since any mistakes wont be as punished as heavily as the more lucrative options.

    Im not one bit interested in taking long positions in large market caps since personally im more interested in leveraged FX trading aswell as bets on them worthless penny stocks (yes I said bets....)

    The less knowledge you have of trading the more it forces you into the safer stocks but also the ones with less return - I will just be honest no one is going to give you good advice for free its just not going to happen, so IMO right now at your stage you dont really have many options possibly invest part of it in certain companies (i.e. Wells Fargo has a decent structure) however I havent looked at this stock in ages so who knows now - this will require your own research

    Once you have a few decent positions you may wish to unwind from these positions and maybe take a few small shots at potential stock pump plays aswell as oil exploration firms and see how you feel about the risk?
    Yeah thanks UAT, Im just devouring ebooks at the minute and playing around on Motley Fool Caps anyway, its more productive than World of Warcraft :D
    chucken1 wrote: »
    Do you know what? My heart bleeds for you!
    Errrr you might be in the wrong forum if you dont want to hear people talking about money.


  • #51
    Arthurdaly
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Arthurdaly


    Where did this moron upagaintoday crawl out of??


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  • #52
    hmmm
    Registered Users, Registered Users 2 Posts: 11,192 ✭✭✭✭hmmm


    This whole thread should be moved to the gambling forum.

    Even better, how about a gold forum where the goldbugs can sit around in their underground bunker in their y fronts raging impotently at the increasing price of beans while waiting to become rich when the end of the world arrives.


  • #53
    nipps
    Registered Users, Registered Users 2 Posts: 471 ✭✭nipps


    put it into prize bonds, they'll be safe and theres a chance you could make more money.


  • #54
    UpAgainToday
    Closed Accounts Posts: 113 ✭✭UpAgainToday


    Arthurdaly wrote: »
    Where did this moron upagaintoday crawl out of??

    I crawled out of the murky depths of investment banking and btw im not a moron im lower than pond scum - if you want to post at least make sense okay?


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