Sun, 01 Feb 2009
Troy’s Blog
Transferring £50 from my bank into Selftrade is child’s play and I am ready and primed to deal. With the words of the Monkeys ringing in my ears - "Buy shares that you can kick the tires of". I was a man on a mission eager to place my first trade.
But... there are some problems already. I started to think... the 4WM had told me to stick with what I know first. So I headed to the one stock I thought would be the best I could think of. Check this for some sound reasoning: the 7th largest clothing manufacturer in the world. Always does well in a recession as they are cheap, but ethical, and well made. They are the 7th largest in the world, BUT they only have 1 store in the US, none in South America and a predominance of their 750 stores in Japan. If they make it through the recession than they should be prime for expansion. All this and I like the brand too. The only downside was that the Yen was at the highest it's been for 13 years, and the company is Japanese. In the words of Rolf Harris "Can you tell what it is yet?" Uniqlo.
I typed Uniqlo into Selftrade - computer says no. I google "Uniqlo parent company" and get a result! It's owned by Fast Trading Co. Selftrade - nada still. I yell “Help” to the 4WM and it seems that I can't trade on the Nikkei (Japanese stock exchange - think FTSE for Japan, big market stall for shares!) So I cant' get what I wanted. Damn. Apparently there are ways round it but I am a novice so I am not even bothering for the moment. Back to the drawing board.
posted at: 16:00 | path: | permanent link to this entry