Big Tosh9 Apr 2020 22:24
Good evening BT., good to see you are still posting.
Difficult times indeed. Heaven knows what is happening with the markets; they just don't make any sense. I have had my fingers burnt twice over the last 2 or 3 weeks by trying to short the FTSE, which on the face of it would make sense with the current state of affairs and the likely repurcussions. However, despite everything, the lockdown, folk not going out to spend money (if they have any), job losses, furloughing, companies likely to go bust, even major companies in severe difficulties the market has kept going up!. Are we in a parallel universe or something where the opposites are true?. I don't think we have seen the worst of the financial implications yet. A recession is more than likely to happen, it's just a matter of how severe and how long it will last. How can that lead to higher share prices?. If ever there was proof that the markets are being manipulated, to someones good, then I don't know what it is!.
In the U.S the Fed seems to be printing money as though it is going out of fashion, and nevermind about tomorrow lets just think about today attitude. Over 11 million unemployed in the last 3 weeks alone and now at over 10% nationally and still likely to rise far further. Job losses, companies going bust and of course, many folk dying from the virus as is the case all over the world. I wonder just how much Trumpty Dumpty has to do with the market rising with it being an election year; he can't let the market fall in case folk blame him, although of course nothing is ever his fault, he isn't responsible for anything bad only what is good. Feel sorry for him (not) what is he going to do without being able to hold all his rallies?, will he find a way to postpone the election?. All sounds like a bit of a rant, sorry. Just seems we are led by what is happening on Wall Street.
As for GBG, well it remains very much on my watchlist although I have been out of the company for some time now. Did I think about re-investing when it was under £5?, no. I think that despite it being a cracking company there may well be a retrace in the not distant future, simply because when the tide goes out all ships go down as we have already seen. Too much false optimism about.
BT - must be difficult to see the old house now a ruin. Think mine has gone the other way, with it having been a stables at some time before it was converted into the present dwelling. I am led to believe some of the foundations were actually taken from a Roman fort, the remains of that lie about a mile or less away. Plenty of time to work on the house and garden with being furloughed from work for the forseeable future.
Regarding RR, well, she is increasingly frail, the dementia is setting in more. Doesn't know who I am much of the time when I am with her nor hear me but ok on the phone. Difficult. She needs looking after but like me is too bloody minded.
Stay well, stay well one and all
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