Fri, 27 Mar 2009
Troy’s Blog
Some great news – my shares have earnt me money already. Barclays has almost doubled since I bought them after they passed the FSA Extreme Stress Test. I didn’t even know that they were up for the test but it basically means they might not have to take any government cash and pushing their share price up. Quiksilver has risen but only by 2% so has yet to offset the 25% purchase fee (£12.50 of my £50 investment)
Overall I am only down (inclusive of fees) by £9.01. Not bad, but not great. Still looking at it over the long term I thought I would be up, but to be up so quickly does feel good. Now I have a nagging feeling that I should have been more bullish on Barclays (see glossary on Bearish and Bullish – http://tiny.cc/KuMFz)
Really, I am already trying to find ways of running before I can walk but I know it must be an obvious mistake lots of people make. Having made good percentages, what if I had invested £1000, borrowed on a card and made it £2000. I could invest with £2000 borrowed off a card for a month, there would be no interest if I paid it off in 4 weeks, but my investment might go up by 6% - 8% (the fees would be a paltry 2.5% to trade in and out) Creaming a percentage off the top. This is the worst trap to fall into and I am thinking it must have ruined a lot of people. Am I right in saying that’s in essence what banks do – and look at them now? Thinking cap on.
posted at: 13:54 | path: | permanent link to this entry