Bought some shares

This is pretty exciting for me so I thought I’d post it somewhere. I just bought 1000 non redeemable preference shares of Lloyds Banking Group at 97.5p, with a dividend of 9.75%. If I had more money, I’d buy more in other banks. It’s a 3-5 year investment but I’ll be watching how it grows.
uk.finance.yahoo.com/q?s=lloy.l&d=t

The preference share price is slightly higher than the price posted on there.
Exciting exciting. Anyone else betting on bank shares giving returns in excess of 100% in a few years?

that kinda shit looks fun to do but i just wouldn’t have a clue on how to do it, what to do, where to do it etc. etc.

If you must invest, invest in a protected asset of the banking cartel such as Barclays, JP Morgan Chase, or Goldman.

I actually ditched the preference shares for ordinary shares at 102.

I don’t see those banks gaining signficantly. HSBC’s peak was about 950. It’s now at 650. Goldman’s all time high was 235. It’s now around 160-170. Its March low was around 75. Lloyds’ low on the other hand was at around 34. It’s now at 110-100, compared to its peak of nearly 600. Granted, it will take some time, but over a few years, especially since governments have essentially made banks fail proof, they’re bound to rebound eventually. And I’ll be there when they do.

Banks aren’t in the slightest bit failproof. If everyone went to their bank tomorrow and took out all their money then they would all ‘collapse’.

My prediction is that there will be a short term recovery followed by another carefully engineered crash. I’m sure plenty of the shareholders of Lehman circa August 2008 were confident that things were going to rebound and there were going to make some serious wonga.

However, it’s your money so do whatever the hell you like with it. I’d buy futures in cocaine myself. But I’m skint.

Diversification is good.

Contrary to the Lehman comparison made above, I’ve made some profit! Under 30% taking into account buy/sell charges in the 7 month period! I bought shares in the rights issue at about 20p a share and increased my shareholding from 900 to 2100 shares as per the 1.33 new shares per holding. I would’ve broken even at a little under 50p at the new price, and the shares are at about 64p and seem to be steady above 60p, with profits forecasted for 2010 news.bbc.co.uk/1/hi/business/8575775.stm ! I’m not going to sell yet, but since it was a choice between Lloyds and RBS for undervalued stock, I’m glad the markets have recovered and the price should continue to increase in line with the reduction in the rate of loan losses and synergies in the Lloyds takeover of HBOS.

Sell them before September. Trust me.

There’s more surer money to be made in Forex Trading these days - I’ve been going on Forex Trading courses, and might change professions to that… if they’ll have me. :smiley:

I’ll hold on to them post back in September if I’m around SIATD.

Magsj, I don’t want to pop your bubble but I’d be careful about these advertisements. Forex is highly risky and is dependent on a LOT of factors which I’m inclined to think you have little expertise in. You’ll also need to trade on crazy leverage because foreign exchange movements are so small, which means you’ll need the broker to lend you a lot to make a decent amount. Which means you stand to lose alot. Standing to lose alot, and not knowing the field well, doesn’t seem like a reasonable choice to me. I also don’t think it’s good as a job, unless you have a lot of money to burn through. The best traders make huge losses, but bounce back only because they/their company can afford it.

He’s right. You’d be better off running a Ponzi scheme.