Thursday, Aug 09, 2007
Growing concern at the extent of the sub-prime problem hits equity markets
FT: FTSE lower as credit worries intensify
At the time of this blog the FTSE 100 was 2.2% down on the day. Markets again become nervous as the global implications of the US sub-prime problem hit equity markets. The ECB attempt to allay fears by pumping £63bn into the system but the effect of its actions has appears to have spooked the money markets and with the sub-prime problem appearing to grow there may be more trouble ahead.
Posted by denzil @ 03:32 PM (156 views) Add Comment
6 Comments
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1. uncle chris said...
Hmmmmm - after selling the last of our funds in July, we are feeling rather fortunate. The "common sense" points of view and analysis into the true state of the global financial system led me to believe that there would be serious market instability on the near horizon. I just didn't realise how near. It seems like the "experts" on this blog are much better informed than the "experts" often quoted by the press - thanks for saving us a bunch of money guys and gals :-) Just need to figure out somewhere safe to put all our pennies now. Any ideas?
2. japanese uncle said...
As I mentioned time and again, savers may wish to restructure their savings portfolio, assuming the worst scenario in which a few middle to large institutions could go bankrupt (Let's hope that would not happen), let alone the consideration to safety net arrangement (Financial Compensation Scheme). What is going on in the hedgefund sector at this moment is equivalent to run in the banking sector.
3. george monsoon said...
I also monitor the FTSE through a virtual stock game, but I daren't invest in anything at the moment because everybody's stock is going up and down like a yo-yo.
4. dohousescrashinthewoods said...
Uncle Chris, I too got lucky and cashed up. Feeling a bit smug (for now..)
George, I agree, I have done nothing but intra-day spread bets, mostly of the "down" variety and am still getting minced.
Thank goodness for virtual cash! :)
5. sold 2 rent 1 said...
My wife and I have sold 2 houses in the last year.
I pulled out of stocks in June and bought a load of December put options on the S&P index which are doing very nicely.
After this 15-25% correction is done by November then it's into gold big-time.
What type of gold/gold stocks? This investigation still has to be done.
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