Intelligent Money - your investment questions answered
Discussion
DonkeyApple said:
Market timing for longer term investments really is a tough call. I do feel that averaging in normally scores better as it does smooth out those medium term market events while also being less fretful to the investor. The way I see it is that if the market falls or rallies shortly after an investor enters the market, if they did so all in one go then it’s pure luck as to whether they are then very happy or very sad. The outcomes are very binary and very extreme. Whereas, if they were only partially invested at that point then they either have a little bit of joy at having got some returns or a little bit of joy at having avoided big running losses.
Everyone’s situation is always slightly different and that is what defines the fact that there is no specifically right or wrong way but I tend to think that an element of averaging in, whether it’s small amounts each month to big lumps each quarter etc is generally the more comfortable approach.
Of course a ‘grass is greener’ naturally miserable bugger will still struggle to find that joy but if they’ve reached the age where they have excess wealth to invest then they should be very used to their own misery.
Spot on mate, as always! Everyone’s situation is always slightly different and that is what defines the fact that there is no specifically right or wrong way but I tend to think that an element of averaging in, whether it’s small amounts each month to big lumps each quarter etc is generally the more comfortable approach.
Of course a ‘grass is greener’ naturally miserable bugger will still struggle to find that joy but if they’ve reached the age where they have excess wealth to invest then they should be very used to their own misery.
JulianPH said:
Bonefish Blues said:
Helpful post Julian - you know I too am wrestling with that one!
Thanks John, I think the important thing to consider is this is not trading - it is medium/long term investing. There is a huge difference.Cheers mate
...but I have no need to sell, and I'm happy to sit, so all of a sudden I'm an Investor, and I feel great
Bonefish Blues said:
JulianPH said:
Bonefish Blues said:
Helpful post Julian - you know I too am wrestling with that one!
Thanks John, I think the important thing to consider is this is not trading - it is medium/long term investing. There is a huge difference.Cheers mate
...but I have no need to sell, and I'm happy to sit, so all of a sudden I'm an Investor, and I feel great
Congratulations!!!
JulianPH said:
Tresco said:
.....but one further question here if you don't mind - I appreciate market timing is difficult and with ISA's that will be held for some while it's probably not hugely relevant but is it prudent to let the ISA buying frenzy in early April pass and then invest May/June time?
No problem!A very difficult question and no one really know the answer. There are historic statistics that show investing at the end of September/beginning of October to be a good time to invest for the short term, but when investing for the long term I am not sure how relevant this is:....
With the above in mind, especially with the turmoil at the moment, does IM offer the ability for me to park mine and Mrs S's 2018/19 ISA allowance while I figure out what to do?
Hello Sheepshanks,
Yes we do have the ability to park your allowance for you.
When you make an ISA application you will need to chose an indicative portfolio but add a note in the notes section to say that you would like your investment to be held in your cash account pending further investment instruction.
We will then hold your money in the cash account until you instruct us to invest. At that time you just need let us know how much and into which portfolio and we will action that for you.
As PH member you will have no initial charge applied so the full value of your investment will be held in the cash account for you.
Nik
Hello Sheepshanks,
Yes we do have the ability to park your allowance for you.
When you make an ISA application you will need to chose an indicative portfolio but add a note in the notes section to say that you would like your investment to be held in your cash account pending further investment instruction.
We will then hold your money in the cash account until you instruct us to invest. At that time you just need let us know how much and into which portfolio and we will action that for you.
As PH member you will have no initial charge applied so the full value of your investment will be held in the cash account for you.
Nik
Sheepshanks said:
With the above in mind, especially with the turmoil at the moment, does IM offer the ability for me to park mine and Mrs S's 2018/19 ISA allowance while I figure out what to do?
Absolutely. You can do just that. Select any portfolio, but in the notes section write "Ignore my investment portfolio selection.Hold in cash pending future investment instructions." What I love about this thread is that we get feedback we otherwise wouldn't.
Rather than you picking a portfolio and then giving us instruction to invest your money in cash (which has always worked) we are now (literally) adding an option to hold money in cash until further instruction on the first page.
This was only obvious when pointed out!
Many thanks,
Julian
Julian
I'm worried
My cousin Eric's chairman of the neds at both Blackrock and Schroders.
I asked him what he knew about IM.
He'd heard of IF (having been a director at BoS) but never heard of IM.
(wtf???)
How can I park my imminent massive cashpile with a crew the family finance whizz has no knowledge of?
Signed
Worried, Glasgow
I'm worried
My cousin Eric's chairman of the neds at both Blackrock and Schroders.
I asked him what he knew about IM.
He'd heard of IF (having been a director at BoS) but never heard of IM.
(wtf???)
How can I park my imminent massive cashpile with a crew the family finance whizz has no knowledge of?
Signed
Worried, Glasgow
selmahoose said:
Julian
I'm worried
My cousin Eric's chairman of the neds at both Blackrock and Schroders.
I asked him what he knew about IM.
He'd heard of IF (having been a director at BoS) but never heard of IM.
(wtf???)
How can I park my imminent massive cashpile with a crew the family finance whizz has no knowledge of?
Signed
Worried, Glasgow
Dear Mr Worried of GlasgowI'm worried
My cousin Eric's chairman of the neds at both Blackrock and Schroders.
I asked him what he knew about IM.
He'd heard of IF (having been a director at BoS) but never heard of IM.
(wtf???)
How can I park my imminent massive cashpile with a crew the family finance whizz has no knowledge of?
Signed
Worried, Glasgow
Your cousin should know that IF tried to sue IM and IM won the case. This was nearly 20 years ago.
IF is has, of course, been closed to new business for many years. IM is thriving though.
Please send my condolences to your cousin.
Regards
Julian
IM
LOL!! Condolences don't even come close!
I take it IF were suing over some matter of naming when IM first emerged. Well done on the victory!!
Actually Cuz Eric ran British Linen (as the boss) not IF, although BL also folded.
Then he ran Airtours. That folded as well
Then he ran the Malmaison Group. That folded too.
And of course BoS itself went bust in the crash as I recall.
In fact the only thing he ever ran that didn't fold was KwikFit for Tom Farmer.
With his track record it might be worth shorting BR and Schrods!
Seriously tho, he has never heard of IM so I told him to go familiarise himself with it.
(and be careful if you advertise for a CEO in case Jonah turns up for interview)
R
Ps: How come Blackrock's only been going 10 years more than IM but counts its cash in TRillions ? (6 from memory)
I take it IF were suing over some matter of naming when IM first emerged. Well done on the victory!!
Actually Cuz Eric ran British Linen (as the boss) not IF, although BL also folded.
Then he ran Airtours. That folded as well
Then he ran the Malmaison Group. That folded too.
And of course BoS itself went bust in the crash as I recall.
In fact the only thing he ever ran that didn't fold was KwikFit for Tom Farmer.
With his track record it might be worth shorting BR and Schrods!
Seriously tho, he has never heard of IM so I told him to go familiarise himself with it.
(and be careful if you advertise for a CEO in case Jonah turns up for interview)
R
Ps: How come Blackrock's only been going 10 years more than IM but counts its cash in TRillions ? (6 from memory)
selmahoose said:
LOL!! Condolences don't even come close!
I take it IF were suing over some matter of naming when IM first emerged. Well done on the victory!!
Actually Cuz Eric ran British Linen (as the boss) not IF, although BL also folded.
Then he ran Airtours. That folded as well
Then he ran the Malmaison Group. That folded too.
And of course BoS itself went bust in the crash as I recall.
In fact the only thing he ever ran that didn't fold was KwikFit for Tom Farmer.
With his track record it might be worth shorting BR and Schrods!
Seriously tho, he has never heard of IM so I told him to go familiarise himself with it.
(and be careful if you advertise for a CEO in case Jonah turns up for interview)
R
Ps: How come Blackrock's only been going 10 years more than IM but counts its cash in TRillions ? (6 from memory)
Yes, they said that Intelligent Money was too similar to Intelligent Finance. It was a very long time ago so I can't remember all the details but basically it was decided that no one could have a sole claim on the word 'Intelligent' and that 'money' implied having some - whilst 'finance' implied raising it. Given IM was an investment company and IF was a mortgage company the two separate names were fitting of our completely separate activities.I take it IF were suing over some matter of naming when IM first emerged. Well done on the victory!!
Actually Cuz Eric ran British Linen (as the boss) not IF, although BL also folded.
Then he ran Airtours. That folded as well
Then he ran the Malmaison Group. That folded too.
And of course BoS itself went bust in the crash as I recall.
In fact the only thing he ever ran that didn't fold was KwikFit for Tom Farmer.
With his track record it might be worth shorting BR and Schrods!
Seriously tho, he has never heard of IM so I told him to go familiarise himself with it.
(and be careful if you advertise for a CEO in case Jonah turns up for interview)
R
Ps: How come Blackrock's only been going 10 years more than IM but counts its cash in TRillions ? (6 from memory)
Eric doesn't seem to have the best track record!
I'm surprised he hasn't heard of us though, we are pretty well known within the industry.
The BlackRock comparison is an interesting one:
BlackRock is the largest investment company in the world. It achieved this though managing institutional money (giant pension funds and the like) rather than IM which manages retail money (clients own funds). On a separate, but interesting, note we were approached by the charity sector last year to manage institutional charity funds. They consider DFMs to be very expensive and won't touch IFAs so when they saw (at a non-related presentation) what we offered they were very keen, to say the least.
So BlackRock started our with the absolutely colossal US institutional market before going global. IM started out with the relatively tiny UK retail market, but is now adding an international side and an institutional one. Exciting times!
We have also never taken the shiny coin of private equity or venture capital. We have absolutely no institutional investors and no debt (we don't even have an overdraft facility as we don't need one). I funded IM entirely from my own money and later friends from the industry went on to become shareholders, leaving industry giants (such as JP Morgan) to become part of IM.
So we (with me owning the majority of IM) have our personal wealth directly linked to IM and when someone invests in our portfolios their money is being managed exactly the same way as my money is.
Finally, until now on PH we have never once advertised. Our growth has been through word of mouth and personal recommendations by existing clients and advisers who use us.
We will also never float. We like having complete control of our destiny and not being beholden to the whims and motivations of institutional investors, banks or any other backers. I am not being over the top when I say you cannot trust the motivations of such parties.
So, whilst it is quite an honour to be compared to BlackRock, it is not a like for like comparison. I am quite content to have our assets being in the billions whilst retaining total control!
Good question though!
Hmmm.
One of my dodgy snaggle toothed hey-jimmy-hat wearing whisky befuddled accomplices and assisting offenders dropped in the other day for an animated unintelligible rant and rave about some seriously whiffy stunt we're almost on the verge of pulling off.
After he staggered away into the gathering smog I noticed the missus (who had been listening to our "business conference") was wearing her puzzled-and-concerned look.
"What troublest thy meditations o fragrant flower?" quoth I.
"Do we really need more money ?" she said....
One of my dodgy snaggle toothed hey-jimmy-hat wearing whisky befuddled accomplices and assisting offenders dropped in the other day for an animated unintelligible rant and rave about some seriously whiffy stunt we're almost on the verge of pulling off.
After he staggered away into the gathering smog I noticed the missus (who had been listening to our "business conference") was wearing her puzzled-and-concerned look.
"What troublest thy meditations o fragrant flower?" quoth I.
"Do we really need more money ?" she said....
selmahoose said:
Hmmm.
One of my dodgy snaggle toothed hey-jimmy-hat wearing whisky befuddled accomplices and assisting offenders dropped in the other day for an animated unintelligible rant and rave about some seriously whiffy stunt we're almost on the verge of pulling off.
After he staggered away into the gathering smog I noticed the missus (who had been listening to our "business conference") was wearing her puzzled-and-concerned look.
"What troublest thy meditations o fragrant flower?" quoth I.
"Do we really need more money ?" she said....
What a colourful tale of shenanigans and marital bliss! One of my dodgy snaggle toothed hey-jimmy-hat wearing whisky befuddled accomplices and assisting offenders dropped in the other day for an animated unintelligible rant and rave about some seriously whiffy stunt we're almost on the verge of pulling off.
After he staggered away into the gathering smog I noticed the missus (who had been listening to our "business conference") was wearing her puzzled-and-concerned look.
"What troublest thy meditations o fragrant flower?" quoth I.
"Do we really need more money ?" she said....
If you could persuade your better half to have a word with mine I would be most grateful...
JulianPH said:
river_rat said:
Any update on when the Junior ISA will be available?
Hello mateI actually have a meeting about that tomorrow morning. It is the same issue as the international account (a software Key Features update) as we already hold the permissions and the portfolios remain identical. It therefore makes sense to do both the international account and JISA at the same time.
I'll post again tomorrow after the meeting, but I don't see any reason why we can't go live with both of these in the next week or two, certainly in time for the tax year end.
Cheers
river_rat said:
JulianPH said:
river_rat said:
Any update on when the Junior ISA will be available?
Hello mateI actually have a meeting about that tomorrow morning. It is the same issue as the international account (a software Key Features update) as we already hold the permissions and the portfolios remain identical. It therefore makes sense to do both the international account and JISA at the same time.
I'll post again tomorrow after the meeting, but I don't see any reason why we can't go live with both of these in the next week or two, certainly in time for the tax year end.
Cheers
Yes, we are nearly there. I have one JISA payment to make before the tax year end (for my daughter) and another for my God-daughter, so I can 100% ensure it will happen for you too!
We have never done one before as they are unprofitable in isolation. However, we now need to offer this for parents and Grandparents.
If you wish to use it you will be able to do so, though it may be somewhat last minute!
Cheers James!
Edited to change Granddaughter to God-daughter. I'm only 48 and my daughter is only 13, so I'm a way off that yet!
Edited by JulianPH on Saturday 23 March 11:02
Update!
Our Junior ISA is now available. We have to add some additional functionality to smooth things out, but I have just done one for my daughter and can therefore confirm all works well!
Whilst the update is in progress please use the 'Additional notes' box to enter:
These will be fields within the next few days, this is just a short term fix for applications before the tax year end.
Our GIA will also be live in the next few weeks, the gross international one should be live in the next two weeks (or earlier).
Please shout if you have any questions!
Edited for typos
Our Junior ISA is now available. We have to add some additional functionality to smooth things out, but I have just done one for my daughter and can therefore confirm all works well!
Whilst the update is in progress please use the 'Additional notes' box to enter:
- Child's Name and DOB (and address, if different to that of the parent/guardian).
These will be fields within the next few days, this is just a short term fix for applications before the tax year end.
Our GIA will also be live in the next few weeks, the gross international one should be live in the next two weeks (or earlier).
Please shout if you have any questions!
Edited for typos
Edited by JulianPH on Tuesday 26th March 06:11
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