ozboy
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Post by ozboy on Mar 26, 2020 13:27:38 GMT
Just been out for a run around city edge. Very few people out. There's some road/pipe repair work going on and yes the construction teams are wearing masks, but all on their *chins* so they don't get to obstruct very close face to face conversations with their colleagues against background of mechanical noise. Lots of considerate behaviour and signs of solidarity. Elderly people out seeming desperate for social interaction and I am chatting loudly from a few metres away to every single one of them. Almost 100% observation of social distancing. Including from runners mrclondon ! The silliest demographic around here to date have been those who appear to be in their 60s. Last week it was all mobile petri-dish type congregations around bus stops flaunting their under-70s status and free bus passes. That madness is over now. Quarantine-chic has taken a turn for the worse with a fake exerciser thing going on. Looks to be the under-25 age group. Presumably wearing spandex whilst partying with your mates is supposed to stop the police apprehending you for non-essential activity. To the lady I passed at the bus stop: Your plan will not work. Bright red lipstick is a dead giveaway, your leggings do not have unlimited powers of stretch and I hope for that alone, you are arrested for crimes against humanity. So, she was fat? Not big boned, not curvy, not heavy, just plain old ordinary garden variety FAT?! I, for one, refuse to give in to the PC Patrol and to my last breath will call things as they are and always have been. 
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ozboy
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Post by ozboy on Mar 26, 2020 11:25:45 GMT
I am only in their 30 day lending and have been steadily withdrawing for nearly 3 weeks now.
Despite my re-investments being clearly set for repayments to go into my Holding Account I have had two amounts yesterday and one today auto re-invested, against my explicit instructions.
Whether it is a glitch OR something they can do (buried in their Ts & Cs) both are very concerning and I am not happy at all. I have just sent a second strong email to them.
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ozboy
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Post by ozboy on Mar 23, 2020 21:25:37 GMT
My skiing mate lives in Courchevel in The French Alps.
I messaged him to ask wassup over there:- [PS / EDIT - Because in The French Alps they're known to ignore laws and rules they don't like and they often do as they please due to low/inadequate policing, beside the general "mountain" attitude.]
"No mate total ban on moving around the mountains 360€ fine if you're caught. I can only leave the house to go shopping our exercise only walking allowed within 2k from where you live. You have to take passport, declaration of what your intention is and utility bill for proof of where you live." Sic.
😨
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ozboy
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Post by ozboy on Mar 23, 2020 19:25:12 GMT
This is going to EXPLODE in the towns & cities, as we all fear and in our heart of hearts now know for sure.
I deliberately haven't left the house for 6 days now and only just popped out quickly to get a few essentials in West London.
NOTHING has changed, people still in groups, lots walking around and no social distancing whatsoever, all tills working instead of every second one, supermarket staff oblivious and everyone carrying on as normal.
You couldn't make it up, to use that most hackneyed of phrases.
I really do despair.
Expect Martial Law by the end of the week IMHO, assuming the right Legislation or whatever is in place by then.
Keep Safe Fellow Investors.
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ozboy
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Post by ozboy on Mar 22, 2020 11:15:28 GMT
Bummer, sorry to hear that. I'd hope your landlord would be kind in the general circumstances. Just in case the RYI doesn't come through by then, have you looked at MSE for tips? Things like getting out of fixed rate savers early, forbearance on credit card payments, perhaps your bank taking a lenient view on using any overdraft etc etc. might be something in there to scrabble together some extra cash in the short term. Lot of variables at play obviously, but judging by the emails I have had from banks and credit cards there is a lot of generous leniency on offer at the moment. It was so nice to see, I totally resisted the the temptation to work out how it could be 'gamed'. Maybe there is still a spark of goodness in me yet. And this is what worries me most. Also the three month rent holiday and similar measures. I count hoarders in this too. The lowest  in society will right now be profiting and plotting how to profit from this disaster and their detrimental actions will cause irreparable damage to us all. I obviously do not mean your normal investment avenues, anyone with half a brain knows what I mean.
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ozboy
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Post by ozboy on Mar 19, 2020 18:12:21 GMT
Germany has 25,000 ventilators and 25,000 ICU beds. France has 5,000 and I think we are similar. Clearly we need more. www.nytimes.com/2020/03/17/opinion/coronavirus-europe-germany.htmlAlso, I do agree any private involvement should be paid for although I do think the private providers need to be careful not to be seen to be profiteering. However, other than staff (who largely obtain their status and permission to work from the state sector) I'd be surprised if they have many ICU beds. I have several times had someone in our family who has made use of private provision. The private "hospitals" I've been to our more like 5 star hotels geared up for low risk procedures. Some don't even have blood banks on site and there have been several cases of patients being transferred to NHS hospitals after something goes wrong. At those hospitals, typically the big shot surgeon and his consultant anaesthetist work through their list in the morning or afternoon and after that, they leave site and in my experience the entire hospital is then left to a junior doctor to manage. Going private for child birth is similarly not without risk. As I discovered when looking around there are very few private NICU units and I was not able to find a single "level 4" unit which is needed for very premature babies. Such level4s are not that uncommon in the NHS - most big hospitals have that. So to cut a long story short, even if you are fortunate enough to the have the funds in place or insurance, going private isn't always the best option (particularly outside London) and overall I'd be very surprised if there is much private ICU provision. And, if something goes wrong, it's relatively easy to sue The Public Medical Sector, most often with "great" results. Good Luck suing anyone for anything in The Private Medical Sector.
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ozboy
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Post by ozboy on Mar 19, 2020 18:04:00 GMT
Germany has 25,000 ventilators and 25,000 ICU beds. France has 5,000 and I think we are similar. Clearly we need more. www.nytimes.com/2020/03/17/opinion/coronavirus-europe-germany.htmlAlso, I do agree any private involvement should be paid for although I do think the private providers need to be careful not to be seen to be profiteering. However, other than staff (who largely obtain their status and permission to work from the state sector) I'd be surprised if they have many ICU beds. I have several times had someone in our family who has made use of private provision. The private "hospitals" I've been to our more like 5 star hotels geared up for low risk procedures. Some don't even have blood banks on site and there have been several cases of patients being transferred to NHS hospitals after something goes wrong. At those hospitals, typically the big shot surgeon and his consultant anaesthetist work through their list in the morning or afternoon and after that, they leave site and in my experience the entire hospital is then left to a junior doctor to manage. Going private for child birth is similarly not without risk. As I discovered when looking around there are very few private NICU units and I was not able to find a single "level 4" unit which is needed for very premature babies. Such level4s are not that uncommon in the NHS - most big hospitals have that. So to cut a long story short, even if you are fortunate enough to the have the funds in place or insurance, going private isn't always the best option (particularly outside London) and overall I'd be very surprised if there is much private ICU provision. Mrs Aju seems to think that was the case when she was PA to one in one of the biggest university teaching hospitals in the East of england before we both retired to a more sedentary life in the west of england. Correct. Many (most?) work in both Sectors and "oscillate" between the two.
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ozboy
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Post by ozboy on Mar 19, 2020 17:59:03 GMT
A worse aspect is not only have Italy overtaken China in absolute deaths today, their numbers dying each day (now up at 475 and still climbing) are THREE times higher than China's very worst day (150). And yes, when I checked earlier today, we are still running two to three weeks behind Italy's trajectory. What I don't understand is how places like Australia, Malaysia, & Singapore, who all had this months before us, still only have a handful of deaths. It's as if the European & US strain is an order of magnitude more virulent/deadly than the Chinese strain. Or maybe it's just the summer climate keeping it suppressed out there. stringent checking on entry I would hazard a guess. And from today apparently (virtually) NO Non-Aussies will be allowed in? They do NOT muck around at home.
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ozboy
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Post by ozboy on Mar 19, 2020 14:52:03 GMT
I sure as hell hope he knows what he's doing, but on past form at the FCA the man is a menace. Interest Rates now at 0.1% I believe, lowest in history, so 0.1% of "fat" left! I am aware and understand that there can be such a thing as negative "Interest" Rates. I probably don't understand economics so happy to be corrected.  [ PS / EDIT: I am also aware he was Deputy Governor of the BoE from 2013 to 2016 but, regardless of this "experience", my point is that if his understanding and attention to detail is the same as his appalling job at the FCA, we have a major problem. ] |
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ozboy
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Post by ozboy on Mar 18, 2020 13:13:18 GMT
I've never asked for advice, but figured out myself that this is the way to go. It was a great feeling when I paid my mortgage off in 8 years instead of 25. At least I know if worse come to the worst I have a roof over my head. You advice is much more sound than the one of your colleagues! Ditto here BUT it turns out that isn't the end of the matter. Council tax for example needs paying pretty much regardless of who lives in the now unmortgaged house. That's the lion's share of costs but there are others such as insurance and maybe fees to pay to the church or other third parties if you're unlucky or purchased leasehold. , you are an informed & erudite fellow, but I don't get your post. You mention overheads that exist anyway, with or without a mortgage. And with all these overheads you have to still pay your mortgage on top. Bit thick me and I'm obviously missing something, please explain?
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ozboy
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Post by ozboy on Mar 18, 2020 12:53:44 GMT
I'm slowly running zopa down as the long term rates are not good, cash at the moment is a good bet, stock investments have been wiped but I'm still putting money in while its down and I'm sure its only temporary but I still believe p2p will outride this and still give returns. Zopa seems to be performing slightly better the last two months for me but I agree its not the best for rates but its a stable earner.... Good luck to you and I hope you find an alternative, I think AC and LW are good despite everything.. How are Borrowers going to repay their loans? Given also that there's already a proportion who are distrusful & dishonest manipulators. I take an opposite view, the merde storm in P2P has only just begun. To guote Karen Carpenter Sort of. 
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ozboy
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Post by ozboy on Mar 17, 2020 19:40:58 GMT
To the point. What is poo? a disparaging remark. To poo poo something. Jesus, I'm not even Pommy and I know it's "Pooh Pooh"
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ozboy
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Post by ozboy on Mar 17, 2020 16:30:56 GMT
Whenever a client had a Lump Sum I often advised to pay off the Mortgage, because that way if you lose your job/get seriously ill/etc at least you (should) keep the roof over your head and sleep at night. Not to mention keeping hold of the (usually) biggest investment of your life. Many of my colleagues would argue "No, invest the lump sum" but my advice to clients was " No, pay off all/part of your mortgage, and redirect the Monthly Mortgage Payments (Pound Cost Averaging) into one or more investment vehicles appropriate to your circumstances."
I STILL stand by that advice today, there is nothing like the peace of mind in OWNING your home. JMHO, I thank you.  I've never asked for advice, but figured out myself that this is the way to go. It was a great feeling when I paid my mortgage off in 8 years instead of 25. At least I know if worse come to the worst I have a roof over my head. You advice is much more sound than the one of your colleagues! OzBoy knows best. PS /EDIT: " Well, he would say that, wouldn't he." M Rice-Davies (RIP)  PPS / EDIT: Yes, yes, I know I've used it before, it's just my favourite quote. 
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ozboy
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Post by ozboy on Mar 17, 2020 15:13:12 GMT
P2P was never ment to be a liquid investment so people should be prepared for delays. It was never realistic to have 6 month loans that was the fundamental error.I would say 6 months loans was one of several fundamental errors. I had a large sum with a rival p2p which usually set a rate of about 3.5% which is damn site more than I will get when FS is finally wound up. However I think this Covid-19 has really put the cat amongst the pigeons which is an ideal buying time for those of us with deep pockets and can afford to wait for a return AND can afford to take, at least, a short-term hit. I just hate to think what this virus will do to the zombie loan book - e.g. who the hell is going to buy the Monaco bar for anything than a song in this market! I guess most p2p borrowers needed a loan as they had cash flow problems and this virus is no exactly going to help. However I have taken this total farce as a possible warning of the entire p2p market and hence now have my money earning 1% in the bank account- pretty pathetic but at least it is covered (it is under £80K). Anybody think I am being stupid or sensible - not sure what to do with my money - might even repay part of my mortgage but that is so boring. The markets are now so volatile I think it is impossible to predict where they will end up. Wherever we end up FS has been a complete and utter farce for most, if not all, of us and I am very dubious about most of the fantastical claims made about investor performance Here is a very interesting lesson from history - when the US stock market first crashed in 1929 on Black Thursday it took a lot of casualties but a lot of investment "gurus" waded in as they thought they were buying cheap and there was a rebound and then there was Black Monday and even worse Black Tuesday - just saying... www.thebalance.com/stock-market-crash-of-1929-causes-effects-and-facts-3305891
I have worked, for my sins, as a Financial Advisor in days long past and was always interested in how, amongst my fellows, our advice would differ. Whenever a client had a Lump Sum I often advised to pay off the Mortgage, because that way if you lose your job/get seriously ill/etc at least you (should) keep the roof over your head and sleep at night. Not to mention keeping hold of the (usually) biggest investment of your life. Many of my colleagues would argue "No, invest the lump sum" but my advice to clients was " No, pay off all/part of your mortgage, and redirect the Monthly Mortgage Payments (Pound Cost Averaging) into one or more investment vehicles appropriate to your circumstances."
I STILL stand by that advice today, there is nothing like the peace of mind in OWNING your home. JMHO, I thank you.
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ozboy
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Post by ozboy on Mar 17, 2020 12:48:20 GMT
And also the number of incidents that have to be treated by overstretched health services because of drunken behaviour.
Obviously last week's Budget is going to have to be re-visited.
The problem with pubs and the like is that they want the government to shut them down so they can pass the financial pain onto their insurers.
On another note along the lines that there will always be somebody complaining: While many people are losing their jobs or being asked to take unpaid leave, the GMB union is complaining that their members at Amazon are being compelled to work overtime (it's in their contracts) to meet current demand.
I am not in the insurance industry but have read reports of Insurance Companies designating the virus as "An act of God" and therefore not paying out? Maybe someone learned in the subject can comment.
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in society will right now be profiting and plotting how to profit from this disaster and their detrimental actions will cause irreparable damage to us all.
