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I really like Expru, he talked a lot and was well advised to make friends, sharing stocks to invest. But always remember making our own money is our good friend rather than making friends to make money.. That two different way.
Imo
Gla
When I saw the share price plunge into below 6p, that was my golden opportunity to add more. I like to read investors talking nonsense about the stock in turmoil and that was my aim to add more. When investors talk about how good the stock is, I am always aware and precaution of profit taking.
Imo
Gla
LTH, you also picked up on that ;-) He said spoke more than once of helping people improving the credit score, so that they have a chance to get accepted again by mainstream lenders aka banks.
Did you e.g. know... that when you start off with a clean slate, meaning never had any debt at all, that you would not qualify for a mortgage? ;-) What the banks want to see before they even discuss mortgage with you, is that you had debt before and how you handled it. Unless... of course... my lovely children, you're lucky that your parents and grandparents (us here right now :- ) ) invested into Amigo in 2020 and 2021 :-) in which case, you'll be so filthy rich, that if the bank manager annoys you, you simply buy the bank and take great pleasure in sacking him :-)
FRanky... keep your old car. My car is Honda Civic about 20 years old. It's been well looked after, in good condition and the amount of money for repairs an services are only just beginning to pay off, as soon it'll be vintage, which will make the value go higher :-)
Yeah i get your drift. I am also thinking that there will be new lending practices that will "blow the markets away" so make sure you "watch this space". Maybe some kind of tier system that will help people get their credit score to a point where they can lend at cheaper rates either through mainstream lending or with Amigo. Think of Experian layout in your amigo app https://expcdn.co.uk/www/images/content/Experian_Credit_Score.png?7ce6f15c26733a5e5524ee05232e6cdd
Offering better rates the better your credit score. (will sell Amigo this idea for 250,000 shares if youre interested Gary)
Pretty much spot on Mouse...there will be lots of manipulation to shake off weak holders so expect dips. I am somewhat ******ed as i hold all my share in a company fund and share account. Literally apart from 7k and the remainder of my bounce back loan everything is in 1 single stock namely Amigo-)...conventions suggests that i ought to spread my risk or derisk etc but I won t sell a single share. I m tempted to get a new car from the profits but it would be madness. Taking capital out would make a 25 k car cost 250k!!!! Hold long term ignore the noise. This will some time in the future hit a quid per share. Don t know when but it ll happen.
LTH, that doesn't include everything he said, though. GJ also talked about before and after taxes, now what does our government need right now after one year of Cov, with small business falling off the cliff, which will no longer to be able to able to pay taxes, if they fail because of the lockdowns? It would mean this: All the business owners and their staff will no longer be able to pay taxes, because they have to claim UC ;-) which in return means more of what is left in tax office will have to get paid out to them. It's a no-brainer and I'm convinced that one of new products is to help small businesses getting back on their feet after Cov. Example: Local hairdresser had to remain shut for nearly a year... to make up for the loss in income you'd have to get around 20 hair cuts per week. Do you get my drift? ;-)
A long way to go yet and I suspect many will sell out or downsize in the coming months. The real value is 3 years plus away when the economy bottoms out.
Wow, well I’ve just got a plain old ISA share account from HL lol so won’t take them long to look I to it
https://www.creditstrategy.co.uk/news/news-top-stories/we-want-to-get-amigo-back-to-life-again--ceos-statement-as-lender-posts-87m-loss-18825
why does 87m loss not sound so bad to me? i feel as though reduction of our debt by almost 300m makes up for it? :)
Sheena, I tell you the mistake we made. I made that amount of money investing in Germany and I paid capital gains tax for that over there. My hubby was still in the army, so we had most of the funds, are I sold out over there, transferred through the bank from Germany to our UK bank, but the initial down payment for the house, we decided to take out in cash and present it to the selling mortgage company in a coffer (Goodness, we were so naive :-) ) and they raised questions and the evidence that everything was kosher, was in a removal box on a removal truck, with an ETA of three weeks later :-) CRIKEY! Were we relieved, when we opened that box lol, as we knew that sometimes they removal companies lose boxes, never to be seen again. So it's a very boring story :-) But if you buy a house cash, it does raise eyebrows.
Yes will do thanks, I’ll get my paperwork in order just in case :)
And Sheena, no it wasn't such a great feeling being practically accused of and nearly investigated for money laundering :-)
Sheena, if you feel this fear coming up, then quickly come in here and talk about it and I mean that! Chances are that somebody in here will remember you and the people in here are super-supportive. If, however, you do feel the need to sell, then take my advice: Do NEVER sell totally out! If you do that, your weighted average price (purchase) is gone forever. Sell only off as much as it takes to break you down to a numerical/financial zero, that way you will still have oodles of shares left that will go into further profit and then still come in here and talk about it. Be ready for a friendly kick up the behind, I got a few kicks up my butt when I sold most off, but do come in here. The support in here is tremendous and highly valuable.
@mousekewitz
That must have been an amazing feeling. However, knowing me i will probably get scared and sell, I’m already nervous at my 6k profit.
@sheena life changing amount
Sheena, if you were to buy a house cash, they'd thoroughly investigate where you got the money from. Happened to us :-) as we bought our first house with the money I made through shares in the 90s. But you can then honestly say: "You know... instead of lending from Amigo, I have decided to lend them money instead :-) and this is the result :-) "
LTH, every time I look at my portfolio, I have to pinch myself to believe it lol. I'm over 70% in Amigo and I have added Amigo to my monthly share saving scheme with £100 per month :-) I'm so totally convinced that all will be fine, because the IIs wouldn't waste their time and resources to invest on the levels they do into a company that will soon be no more. I'm sure we'll see more of them in the coming week and we'll also see more of the traders spitting out stories of Armageddon, in the hope somebody with a substantial hold will sell out, so they can feed.
@bryn81 that would literally enable me to buy a house cash, can you imagine!!
If the price got to £2-£3 id be ecstatic as I’m sure most amigos would be
haha i will get emotional at £2-£3 ;) but its okay to fall in love with amigo with gary at the wheel, seems like the most genuine guy really trying to do the best thing for everyone.
Great find this video is, LTH (why am I talking like Yoda? :-) I'm only the second beer :-) ) I hope jimmy has watched this. So the camel woman is only so hot on Amigo, because they were told to stop doing PPI claims by the FCA :o) . What a revelation! Also, he talks in the video, that the IIs have left, that Amigo needs them along with RIs and they IIs now seem to flock in :-) . This whole week has made me feel emotional about Amigo and I know that no investor should get emotional about a stock, but Amigo is a different stock. Let's face it: If it wasn't for so many RIs like us, Amigo would have stood no chance of survival.
i think you might be right
https://youtu.be/ANalZ4nEVjc
skip to 1:10
How on earth did this share get as low as this?
I guess it's quite simple, now we see unravelling, "we" the BoD, quote the "I" word on numerous occasions when detailing the SoA. If you "the II" are serious , the opportunity will be there for a few weeks or so, we can oblige if required. "Fancy some of that?" BoD to II's. " Fill your boots, get the T1's out, let's get this show on the road." Market Cap in 6 months? £200m minimum.