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About narco

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  1. Thanks. What's the best method of purchasing foreign currencies in the UK? I've looked into opening a foreign currency denominated account with HSBC but not sure if this is the most cost effective way?
  2. A friend of mine as just inherited almost £80 grand and has asked me for some advice on what to do with it. How would you invest this money to ensure it's safety and protect against a potential GBP devaluation? I've recommended at least 20% in physical gold and silver but how would you invest the rest? If a savings account, which one? ISA's? Also how investing in foreign currencies? Any ideas would be appreciated.
  3. narco


    He would have said exactly the same at the tops in 06 and 08 based on those technical signals.
  4. narco

    Pension thoughts and ideas

    I agree, however their boring cash fund appears to be packed full of British and european bank bonds which is why I prefer the long dated gilt fund for a year or two. It's a shame my options are so limited considering how generous the 10% matched contribution scheme is.
  5. narco

    Pension thoughts and ideas

    Thanks for the replies. You're right that I really don't want to be buying stock funds when prices are higher, especially since I can only change my options once per year. My biggest fear is of a Japanese style 20+ year deflationary period where stocks systematically collapse over a prolonged bear market. On the other hand I'm extremely concerned about the value of the pound and the potential for rapid commodity / price inflation. A balance of cash (gilts only) and a global commodity related fund would be ideal but it doesn't appear to be on my list of available funds!
  6. narco

    Pension thoughts and ideas

    Thanks. Yes it is a generous offer but the funds look a bit ropey. I'm looking at the Over 5 Year Index-linked Gilt Index but it seems to consist of long dated Gilts. Unless the government becomes the next greece it should be stable at least? Here are the fund contents: http://factsheets.financialexpress.net/SLEFL/I571_NB.pdf
  7. At 33, I've decided to start investing via my work pension scheme. My employer will match my contributions up to 10% of my salary. Although I am a little wary of the investments held within the Standard life Low Risk and Balanced funds. I am however, able to choose from the following funds and switch them around each year. I can also mix and match and add a percentage into each fund. 1) UK Equity Index – BlackRock 2) Global Equity (50:50) Index – BlackRock 3) Over 5 Year Index-linked Gilt Index - BlackRock 4) Over 15 Year Corporate Bond Fund – BlackRock 5) Managed Cash Fund – Standard Life 6) Sharia compliant - HSBC Amanah Fund 7) Global Diversified Fund – Trilogy 8) Diversified Growth Fund – BlackRock 9) UK Focus Fund – BlackRock I was thinking of starting off with the Over 5 Year Index-linked Gilt Index and then shifting into a riskier fund when the global economy starts to recover in a few years. Anyone got any thoughts on this?
  8. Yep, actual dollar bills. Still looking for somewhere locally in Leeds to exchange them.
  9. Anyone know the best place to exchange dollar bils back into Sterling. I've looked at the post office but the rate is poor.
  10. He does make reference to that but only expects these to be temporary spikes as the pound grinds higher.
  11. So i'm just making a few assumptions based upon this forecast. 1) The USDX will fall potentially to new lows below .72 2) Gold, silver and commodities will rise significanly in USD terms. 3) A rising GBP will have a crippling effect on the UK economy but keep inflation relatively under control. 4) UK house prices will fall further and faster as the denominator gains in value. Looking at the charts he has posted, it also looks like the GBP/USD would be carving out a potential longer term head and shoulders so maybe this play would only have a 1 year run?
  12. Well this came as a real suprise to me as I'm very much invested for a Sterling collapse. Now I'm holding mostly gold and silver and some USD. I've been following Nadeem Walayat from marketoracle.co.uk and he has made some damn accurate calls. Right now he's calling for a $1.90 target here. Any thoughts? I'm seriously considering making a complete exit from my USD position. http://www.marketoracle.co.uk/Article23203.html
  13. narco


    Looks like one of these.
  14. That chart wasn't there to show where I thought the dollar was going. It was pretty obvious it was going to bounce sooner or later. The purpose was to show how many times the EW boys were calling for a bottom in the dollar, month after month. 6 months is a long time to be on the wrong side of the trade. How many times did you call the dollar bottom?
  15. Hmm I'm mixed on Prechter to be honest. Some of his thoughts and calls are incredible but I'd like to hear more flexibility in his views. When gold bottomed in October 2008, physical bullion and coins were selling *with premiums* at even higher prices than at the top in March 2008. You couldn't even buy real gold at any price for a period back then! This was at the peak of the last deflationary period. He's surely right on the Dollar (as an obvious contrary play) for a while but people need to be wary of potential black swans. Fiat currencies all have fictional values that are solely based upon confidence. Just look at Iceland or Argentina for examples of how quickly things can break for a currency. Look at how many states are on the brink of failure in the US. When the US government starts defaulting on their debt obligations where does he see the value of the Dollar?