Big Elly9 Sep 2024 19:56
Hi,
as i mentioned in a previous line of chat a while ago ,my plan of de - risking my investments to realise to cash around 80% of my share holdings and place monies into boring but ultra safe high interest bank savings seems to be paying off. I am getting around 5% net on cash savings with no worries.
Reasons for de-risk strategy were before election and new gov' in place is a long list of domestic and pan world reasons such as this and that mentioning of markets etc being topped out , financial crash , conflicts etc that are not needing explanation because are plain to see.
But a big but which nobody has mentioned yet ,but soon will which is reasoning me to get all out of shares and sink all into the generous accounts on offer at the mo' .
The big elephant in the room is Robber Reeves controlling the financial levers that her hands are itching to haul down on us all, well almost all.
I have a gut feeling that the talk of windfall taxes that are being muted for energy and oil companies will be extended not only to our Banking infrastructure but even on to the Insurance sector.
If they implement these horrors we will all pay with rising financial costs which will devastate the stock market.
I am getting out with only a 10% of my investments in shares ,the rest in ISA and high interest safe bank savings.
I will retain interest in Direct Line as a takeover is inevitable eventually.
I am in a good position with Curry's ( retailer electronics) another inevitable takeover.
Well that's it for now folks.
Here a hint, if you too decide to follow my strategy in any shape or form you must check that any financial companies that you are interested in moving cash into is protected by Government backed FSCS.It is the Financial Services Compensation Scheme.
The FSCS will compensate any losses due to fraud or financial failure of any companies you invest in. The maximum amount of refund is £80,000 per company / so if you have more than 80k of cash to invest then spread it to numerous banks and companies to ensure all your exposure is covered by the FSCS.
All the Georgey.