After 6 Years I Got My Investment Back from Bank of Ireland

08-08-2012 09:49PM

Gordon wrote: »

People, I f*cking swear. Rant over.

Marry me?

cloud493 · 08-08-2012 09:58PM

A woman working in bank not earning what she wants and probably having to deal with **** like you all day wasn't sincere? :eek:

amacca · 08-08-2012 09:59PM

foxyboxer wrote: »

Here's what you should do next time OP considering that such products put the money in index trackers anyway.

Find a charting website (barchart.com)
Do a search on for example the FTSE 100 "Dobbo:...and in financial news today"

Open up the 'Technical Chart' option.
Set the 'Frequency' as Weekly Chart.
Set the 'Time Period' as '1 Year'
Click on 'Draw Chart'
You'll now see the Open-High-Low-Close 'ticks' for every week of the past year for the FTSE 100 index.

From the Add Study section, select 'Moving Average, Simple' and change the value to 30.
Again from the Add Study section, select 'Moving Average, Simple' and change the value to 50.

Now, select 'Update Chart'.
You should now see 2 smoothed out lines indicating the moving average of the closing prices.

Now, if the 30 week moving average is greater than the 50 week moving average, then you might invest in an indexed etf for the FTSE100 as the general trend is moving up. Simply open a broker account and buy an exhanged traded fund (etf).

Once the 30 week ma drops below the 50 week ma, then that's you're cue to exit so to speak and avoid a major bear market as seen after Lehmans. (Note: the October 1987 crash should be noted here i.e. a 30% collapse in one day, though the market was positive by the end of 1987).

If the 30 week moving average is less than the 50 week moving average then the trend is down and you should keep funds in an interest account.

This can be applied to any indexed market but mainly for the major stock indices (nasdaq, s&p 500 etc).

It's a basic and passive long term trend investing system and requires you to simply check in every week to see what the story is. Keep it invested (30>50), Keep Out (30<50).

That way you might actually stand a chance to make some money and avoid dealing with smug a-holes in the banks working on commission instead of weaving a story of how the world of investing is fraught with danger whereas they simply take your cheque, lodge it with a life assurance company who lodge it with a pooled fund into an index tracker fund that performs magnificently during a bull market and is a total stinker during a bear market.

I see you've played knifey spooney before...... and read big money little effort

which is a slightly misleading title (the best you can hope for but not spectacular returns if you dont want to take too much of a risk would be a more accurate if slightly cumbersome title)

holystungun9 · 08-08-2012 10:04PM

Ikky Poo2 wrote: »

Correct me if I'm wrong, but doesn;t it say that the calue can go down as well as up and that no gain is gurranteed?

You chould get down on your knees and thank the good peopel of the bank for not losing any of your money!

I think they actually say that the value can 'go down as well as plummet'.

pm1977x · 08-08-2012 10:17PM

Early 2008 I was seconds away from signing up to a pension which would have been swallowing a decent fraction of my monthly pay (along with a lump sum to kick it off), had thought it over and split it between low risk and medium risk products, the woman went to get her electronic signature pad, came back and couldn't get it to work so told me to call back in whenever suited me.

Started to have 2nd thoughts and put it off a bit, recession came on the horizon and I stayed away for good

Electronic glitches ftw :cool:

Summary: got lucky

foxyboxer · 08-08-2012 10:26PM

amacca wrote: »

I see you've played knifey spooney before...... and read big money little effort

which is a slightly misleading title (the best you can hope for but not spectacular returns if you dont want to take too much of a risk would be a more accurate if slightly cumbersome title)

And reading it (Shipmans Book) and his previous book kept my moolah on the table pre-Lehmans and for that I am grateful. The point is, money is a simple concept made complex by idiots.

In order to understand the markets think Homer on his hospital bed. "Price goes up, pirce goes down, price goes up, price goes down"

Those interested should research Richard Dennis and William Eckhardts 1980's 'intellectual debate' which resulted in the Turtles legend.

MarkR · 08-08-2012 10:32PM

Deleted User wrote: »

i came away furious 6 years it was away not one penny was made :mad::mad::mad:
and i have another one next year and probally get notting

recession
recession
recession

she had a smug look on her face telling me it hard for her also (as if) :mad:

only thing i sad it her was look im leaving before i say something i regret

( in my mind i was knocking her around the giddy bitch )

i swear ive never been treated so badly in all my life i just feel so down my only dream was to own my home

Banks I fcuking Swear

Rant Over

Do you even know what a tracker mortgage is?

RobbingBandit · 08-08-2012 10:38PM

I always thought a tracker mortgage was when a bank loaned you money and put a tracker chip in you so if you didn't pay they could blow you up.

mud · 08-08-2012 10:42PM

Deleted User wrote: »

I found a savings book from 1985 with £5 in it. Would I still be able to cash that in?

I had £1 (punt) in a P.O. savings acount for 20 ish years. Got well over a hundred euro back. Amazing

sheesh · 08-08-2012 10:42PM

Deleted User wrote: »

it was ganurenteed so i didnt lose anything i just got what i put in im just saying after 6 years notting was made

and she was really smug and not very nice saying shes sorry the look on her face was she didnt really care

I would thank your lucky stars you went with a guaranteed one plenty of people have lost their initial amount. you should look on the up side the money buys more now than it would have 6 years ago.
The fact you still have money is a good thing. if the euro stays intact and things start getting better you can make more.

B.A._Baracus · 08-08-2012 10:45PM

Ah yes,
Someone moans about the banks (and rightfully so as the banks are terrible) and he gets blasted by everyone... especially the usual "you had money to invest? no recession in your house" spiel

08-08-2012 11:25PM

mud wrote: »

I had £1 (punt) in a P.O. savings acount for 20 ish years. Got well over a hundred euro back. Amazing

:eek:

This is interesting. Very interesting. Although it's an ulster bank account so I won't hold out much hope!

After 6 Years I Got My Investment Back from Bank of Ireland

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