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Thank you for your foresight. This is the first time I am posting on this thread. I have been holding bp shares for a short while and do believe it’s a going to be one of those slow hills that climbs. I would be interested to know about which funds you think are good for growth. I have invested in the baillie Gifford American fund and it has done well but would like to add a couple of additional funds to diversify my portfolio. Any suggestions would be welcome and of course I’ll do my own research.
Giraffe4444, apologies for the delay in replying to you. if you hold an ISA you can choose anything you like to invest in it. An ISA, as it says on the tin, is like a shopping basket that you can put investments in. You can use the same ISA to put both funds and shares into. The only rules are that you can only invest a maximum of £20,000 in a tax year. If you want to invest in shares rather than funds, you can sell the funds but this may take about a week to clear as your request to cancel the funds requires to be made via the Fund Manager , who will then sell your units to give you your cash.
If you prefer to keep your investments in funds but want to invest in shares, you need to add money to your ISA to start with. This can be done by transferring money from your bank account into your ISA. Once your ISA shows that you have funds to invest in, you can place a deal to purchase shares.
Hope this helps - so to clarify, as long as you have not invested more than £20,000 into your ISA this tax year, which is before 5th April 2021, you can add more money and then buy anything you want. Just bear in mind the fees involved when buying shares, which also include the 0.5% stamp duty and buying fee.
Hi, just seen your post 19/2 where you recommend opening an ISA to avoid dividends and profit being taxed. Sorry if I am missing something, I have a SSISA with HL where they offer the funds, but I cannot find anyone who will let me open another SSISA where I choose the shares, can you help here please? Thanks
Hi, firstly huge thanks to Thomo- incredibly helpful, detailed update which I endorse. I bought BP believing oil will recover but also as BP have a strong foot in electric cars. They have BP Pulse, 2 charging companies bought 2018- Chargemaster and Polar. Electric demand will only grow and with everything Thomo says, I see little downside here. Good luck to all
@Thomo1968,many thanks for your post.I started trading in BP amongst others in October last year.I’m absolutely clueless ,but helpful people like you are invaluable.
GLA
For any newbie investor or long term investor, we should see the share price rise in 2021, patience is required and it can be tempting to sell when one becomes frustrated.
Back in August last year when I received my pension lump sum, I looked at a lot of options and noticed that two of the sectors that had been whacked by COVID were the banking and oil sectors. I decided to buy bank shares in LLOYD, NWG, BARC, STAN, HSBA and BNC and I also bought IMB along with RDSB and BP. The shares prices in the banks were nearly -50% of their pre covid levels and oil was less than 40%. I then read more into IMB and found this share to best for income rather than growth so sold this on. This share has improved by 8% since August so confirms that growth is not as good as the others but income is good with a current 10% div yield.
During October, oil fell further and as we all know , the prices were touching the 25 year low. I decided to sell all my shares in the banks and IMB and I now hold approx. 50/50 of my entire holding in both RDSB and BP. I have held and recently bought more BP between November and February at an average of 256.
I kept a watchlist of my original purchases of shares and my oil purchases.
Looking this morning at this list, the banks have all recovered, NWG +73%, BARC +62%, BNC +52%, LLOYD +49%, HSBA +28% and STAN +27%.
In the same time frame, BP has recovered by 7.45% and RDSB has recovered by 22%.
This just shows that OIL is taking a bit more time to recover but it also shows that by buying the shares, holding and re-investing the dividends can pay.
As I purchased the OIL in October, my investment in BP has gained 33% and RDSB has recovered by 42%.
I don't intend to trade as I am frightened that I mess up. I will re-invest the dividends this month and will continue to hold until the price reaches a level that shows the global recovery. I am also picking up a DIV of 6.9% for BP and 5% for RDSB.
What I am saying is the price will recover.
I appreciate the knowledge shared on this board regarding support and resistanc, gaps being filled etc, which is good to know.
For a further comparison, I also looked at investing my pension in funds - spreading the risk so I selected 8 funds and over the same time frame, the funds have gained 20% so again risk/reward in shares.
I am just posting this so that if any person is thinking about jumping ship to buy others, just think of the fundamentals, oil pricces are increasing, the world is opening up and patience shows.