Hard time in business

[Christopher]

I think they are betting with our pension funds, no?

[smokie]

I think they are betting with our pension funds, no?

If that were the case, surely the values would have increased better than they actually did, in the "good times". Mine seem to never do *that* well (Barclays), despite how the markets behaved in the period.

I actually think that most pension funds aren't active, i.e. they do not buy and sell on a regular basis - they buy "blue chips" and stay in them for the long haul. Could be wrong though. These hedge fund and short selling johnnies are the ones which create all the volatility in the market, IMO.

[Robspot]

My pension fund has dropped £10k since the same time last year. Not very useful when it was only £40k to begin with.

I'm never going to top it up with my money, only what the company puts in. I'd rather put it in property. Okay so that goes up and down too but at least you can see your money and not rely on some Ferrari driving twat gambling with it in the city (driving a Ferrari doesn't make you a twat, gambling with my money does  )

I think I'll also have a talk with my financial advisor as he clearly needs a kicking.

[Lorry]

Pension funds usually invest a largish proportion in the more reputable shares. On average shares have gone down by about a third, and so has your pension, but only if you draw it this week.  Over a long time they'll go up again, so it doesn't matter.  And if you're about to retire, they usually convert your bit into gilts, which don't normally go down in value.

I'm pleased to see that the gamblers got caught on VW.  On the basis that the value of VW shares was going down, they sold lots of shares they didn't own (anywhere else you'd get locked up for that), on the basis that they could buy them cheaply in a couple of days time, and all without laying out any cash.  Porsche announce that they're going to buy 75% of VW, and the price of the shares rockets, leaving the @rseholes having to buy shares at twice the price to complete the deals.

Well done Porsche.  You wouldn't like a major stake in RBS or Barclays by any chance.

[mike(liverpool boys)]

Made me chuckle anyway 

http://www.weebls-stuff.com/toons/Credit+Crunch/

[nopanic - neil]

What makes me laugh about these stupid fund managers (who are paid really stupid money) that if the had done any homework or even used one of the few brain cells they had!, was that Porsche wanted to buy VW completely anyway and the only problem was Lower Saxonby share holding (which came from after the war years) and there was a EU court ruling about it due/ or done could not sell out.

So to find out that Porsche owned as many shares in the first place should not be a surprise.

Those city plonkers are total idots,  Porsche behaved like when Walt Disney brought swamp in Florida thru about 50 companies, over a period of time, years ago to avoid prices going thru the roof.

How much do these fund/brainless mangers get paid?      f**k!!!!!!!!!!  

[Mr Termite]

My impression is that the City slickers behave entirely predictably. Whereas in my yoof companies thought long-term, investing in the blue-sky future wisely, City tactics  since Big Bang in 1987 - "Go for it!" - have centred on living for now, with major bonuses for individuals being payable annually. Let's be realistic - if you can secure deals today that will give you a bonus at year-end to pay off your mortgage, finance the kids' education costs right through uni, and still provide you with a lot of toys, how many of us would think long-term instead? It's about as likely as Texan oil barons thinking sagely about the environment! The City culture positively encourages houses built of rather thin card - and when the wind blows....

I am wonderfully ignorant on the current Porsche/VW issue, but was aware ages ago that Porsche technically owned VW, due to some arcane rules of minority share ownership. It is inconceivable to me that all the city analysts missed the fine print which enabled whatever has just happened.

[Andy Zarse]

 

http://www.parkerchris.pwp.blueyonder.co.uk/vocationvocationvocation.html

[mgmark]

http://www.parkerchris.pwp.blueyonder.co.uk/vocationvocationvocation.html

Cracking!  

[nopanic - neil]

http://www.parkerchris.pwp.blueyonder.co.uk/vocationvocationvocation.html

Cracking!  

Brilliant

Also for all the people who ask you for a pay rise,  just show them this.

[Doris]

http://www.parkerchris.pwp.blueyonder.co.uk/vocationvocationvocation.html

Cracking!  

Brilliant

Also for all the people who ask you for a pay rise,  just show them this.

Neil - You must know the corporate big wigs at my place of work.  They gave us the good news about pay rises - or lack thereof - about 3 weeks ago.

Andy - Brilliant!

Dx

[Rusty]

Superb Monsieur Zarse.

Brightened my morning no end. Just dreaming of snow now, off to Italy in just over a week. Whoopee.

[Bob U]

Looks like you are in for a good one Rusty. Plenty of snow already


http://www.ifyouski.com/webcams/italy/

[Rusty]

i know Bob tons of it, me and the lads are trying to extend our stay as we speak. No point being around here with all the doom and gloom

[Andy Zarse]

  Russ you lucky sod! We are skiing in Cervinia in january and I can't wait.

Was talking to one of our pilot buddies on monday and he said the snow views when flying over Turin routing across over Innsbruk then Salzburg were the best he's ever seen, stunning apparently. Have fun!