Italy, Spain... (We're all DOOMED content)
Comments
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daviesee wrote:All pensions have exposure to equities but a smart fund manager will move the funds into "safer" investments to preserve what is in the pot in the last few years. It is not foolproof but better than leaving them in equities until the last day.
No they don't. My parents pension (they're literally going to retire in the next few months) is 100% in cash and bonds.
Given whats happened in the last week, I'm expecting a better than average Christmas present from my folks for above financial advice. An Audi A6 feels about right - certainly more appropriate than the socks and deodorant I got last year FFS.0 -
P_Tucker wrote:daviesee wrote:All pensions have exposure to equities but a smart fund manager will move the funds into "safer" investments to preserve what is in the pot in the last few years. It is not foolproof but better than leaving them in equities until the last day.
No they don't. My parents pension (they're literally going to retire in the next few months) is 100% in cash and bonds.
Given whats happened in the last week, I'm expecting a better than average Christmas present from my folks for above financial advice. An Audi A6 feels about right - certainly more appropriate than the socks and deodorant I got last year FFS.
Exactly what I said. Put into safer investments towards the end.None of the above should be taken seriously, and certainly not personally.0 -
Were fcud just look at London.0
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Boss just announced Germany is down 7%.
I read 3% down this morning for the FTSE.
It's in times like this, we need to resort to desperate measures.
We need to..
and thus listen to him when he says
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FTSE down 5.5% now.
C'mon, rally! It's way below 5000 now. There's got to be some value there somewhere!0 -
FTSE's up now. Crazy.
Anyway, analysis from Soc Gen's bear of all bears - Albert Edwards:I and many others have been pointing out for a long time now the simple fact that the global economy has been living way beyond its means for years. A massive transfer of income to the very rich has occurred while middle class real incomes stagnated. The middle classes only tolerated this because Central Bankers created housing booms to keep the impoverished middle classes borrowing and spending to give them the illusion of prosperity and stop them from revolting.
Central bank polices haven't changed though. Print and print and print. And if that doesn't work, print some more. And as London burns, the point I have always made is that the US and UK are not like Japan in one very special way. Although Japan suffered a decade of pain it is a very homogenous, equal society. The UK and US are not.0 -
I like those thoughts from Albert Edwards, cheers for sharing.
Anyway i came here to back up what i said previously about collective thought in the market's and the ability to therefore skew the reality.
From a David Tuckett of UCL:"Financial markets are markets in stories, and financial analysts are strongly influenced by the mood context of the moment," he said.
"At the same time, they tend to simply extrapolate from what has happened forward and they tend to do it as a group. There's a lot to be lost from standing out from the crowd -- they want to stand out a bit but not too much."
Tuckett describes the phenomenon as "groupfeel."
"Groupfeel is the same as groupthink, except it is based on wanting to feel like everyone else rather than wanting to feel dangerously out of the crowd. That naturally makes it difficult for them to change quickly, unless everybody else is changing."
The article: http://uk.reuters.com/article/2011/08/0 ... NT201108090
