Waiting Patiently Posted August 17, 2007 Share Posted August 17, 2007 From today's Guardian: A top-performing fund manager warned yesterday that the markets turmoil would result in "one of the greatest banking crises in decades".Ken Murray of Edinburgh-based Blue Planet - whose Worldwide Financials Investment Trust has been one of the best-performing financial funds in recent years - said: "The credit cycle has turned, bad debts are soaring, banks will go bust and stock markets will fall much further."............. Guardian Quote Link to comment Share on other sites More sharing options...
vfr Posted August 17, 2007 Share Posted August 17, 2007 From today's Guardian:Guardian well he's right so far. got take your hat off to him for pulling out in May when everyone else was still piling into stocks though. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted August 17, 2007 Share Posted August 17, 2007 (edited) well he's right so far. got take your hat off to him for pulling out in May when everyone else was still piling into stocks though. I shifted an endowment assurance from stocks to bonds in May. Just as a warning: I'll shift from bonds to gold soon (for this I have to cancel the insurance, though). I totally agree with cgnao that the flight into government bonds at the moment will become one of the biggest financial traps ever. Western government bonds are rubbish - look at the deficits, ageing population, and declining manufacturing base. Edited August 17, 2007 by Goldfinger Quote Link to comment Share on other sites More sharing options...
It is different this time Posted August 17, 2007 Share Posted August 17, 2007 So the banks will go bust and they won't lend to each other, they certainly won't lend to average Jo neither that will cause a nasty credit crunch & will burst the bubble resulting in recession & HPC or HPC & recession. Oh well at least it is Friday! Quote Link to comment Share on other sites More sharing options...
sossij Posted August 17, 2007 Share Posted August 17, 2007 I shifted an endowment assurance from stocks to bonds in May. Just as a warning: I'll shift from bonds to gold soon (for this I have to cancel the insurance, though). I totally agree with cgnao that the flight into government bonds at the moment will become one of the biggest financial traps ever. Western government bonds are rubbish - look at the deficits, ageing population, and declining manufacturing base. Hi GF, quick question: what do you think about more mundane savings such as NS&I ISAs for example... still risky? Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted August 17, 2007 Share Posted August 17, 2007 Hi GF, quick question: what do you think about more mundane savings such as NS&I ISAs for example... still risky? First, I am no financial advisor. What I can say is that I have no confidence in the bond market in general. I am also very suspicious of banks/the finance sector at the moment, which is why I tend more and more to manage my finances/investments/speculations myself. I agree with some people here that cash will do better than many other things over the next few years - not better than PMs though, but that is MHO anyway. When holding larger amounts of cash, I would spread it over several banking groups and if invested in bonds I would try to stay in short maturities since IR fluctuations have less of an impact there (I expect IRs to become more volatile when things with China become less rosy - we see the beginning of this already). Quote Link to comment Share on other sites More sharing options...
sossij Posted August 17, 2007 Share Posted August 17, 2007 First, I am no financial advisor. What I can say is that I have no confidence in the bond market in general. I am also very suspicious of banks/the finance sector at the moment, which is why I tend more and more to manage my finances/investments/speculations myself.I agree with some people here that cash will do better than many other things over the next few years - not better than PMs though, but that is MHO anyway. When holding larger amounts of cash, I would spread it over several banking groups and if invested in bonds I would try to stay in short maturities since IR fluctuations have less of an impact there (I expect IRs to become more volatile when things with China become less rosy - we see the beginning of this already). Thanks GF. BTW just had a Britannia just arived from Bairds... not as nice as me Pandas but hey ho... Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted August 17, 2007 Share Posted August 17, 2007 Thanks GF. BTW just had a Britannia just arived from Bairds... not as nice as me Pandas but hey ho... Some Britannias are very nice IMO. Must check now whether my coins are in the post today. Ordered some sovereigns earlier this week. I just can't get enough. Quote Link to comment Share on other sites More sharing options...
EmpiricalBear Posted August 17, 2007 Share Posted August 17, 2007 Where do you stash all this gold? In a pirate trunk in the woods, with a map marked X? Safety deposit box I guess? Quote Link to comment Share on other sites More sharing options...
yellerkat Posted August 17, 2007 Share Posted August 17, 2007 not as nice as me Pandas but hey ho... Given the recent revelations of Chinese export quality are you quite sure your pandas aren't Lead&Mercury amalgam covered in a very thin layer of Gold? Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted August 17, 2007 Share Posted August 17, 2007 Where do you stash all this gold? In a pirate trunk in the woods, with a map marked X? Safety deposit box I guess? From the look of his Avatar, I'd guess somewhere close to his heart but a little more southward. Quote Link to comment Share on other sites More sharing options...
sossij Posted August 17, 2007 Share Posted August 17, 2007 Given the recent revelations of Chinese export quality are you quite sure your pandas aren't Lead&Mercury amalgam covered in a very thin layer of Gold? Ha ha! Oh well, will probably serve me right if they are Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted August 17, 2007 Share Posted August 17, 2007 From the look of his Avatar, I'd guess somewhere close to his heart but a little more southward. Preciousssssss! Ha ha! Oh well, will probably serve me right if they are I have only one Panda. There is a stain on the coin. But seems like original packaging (wrote this in another thread anyway - no worries about the stain). BTW, my sovereigns have arrived. Excitement! Quote Link to comment Share on other sites More sharing options...
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