Printable View
Stick, correct me if I'm wrong, but are you confusing building societies with mutuals? Most building societies and banks are infact the same these days. What are different are mutual building societies which are owned by their policy holders (not shareholders) and may therefore have different financial requirements?
[quote=christopher leigh;153988]Quote:
Originally Posted by TheHeathens
I wish there was a banging your head against a brick wall smiley.
Once again, CL, you are showing your chronic lack of knowledge about funds whilst trying to be clever / sarcastic at the same time. Some funds that are labelled 'Hedge funds' do not actually hedge their investments at all and some don't diversify (which is what I was talking about) in order to get positive returns.
Diversification is one strategy that some hedge funds use, but they also use short selling, arbitrage (which is definitely not gambling as you can't lose), and derivatives amongst others.
I was talking about using diversification as a hedge against losing your money - nothing more, nothing less.
You say I waffle, but how many times have you taken this thread off on an irrelevant tangent? Bringing Hedge funds into it being the perfect example.
Yeah...! :rolleyes: I still hold to my belief though Rodders about people's motives. Even if they were "guaranteed" (and I've never seen anything which did use this term) then it doesn't excuse people's naivety! If I were to guarantee I'd win Kirk Fell next Saturday I don't think there'd be many people who'd believe this and (hopefully!) even less prepared to bet their house on it. (I haven't met anybody yet who's that stupid! :D )Quote:
Originally Posted by Rodders rambler
Well, my understanding is that all UK Building Societies are mutuals, owned by their members (i.e. both savers and borrowers). The ones that gave up their mutual status (Abbey, B&B, A&L, N.R.) floated on the stock market and sold their shares - which is why all members of the society got a windfall. There is thus a vast difference twixt Banks and (the remaining)Building Societies. I think "policy holders" applies to members of mutual insurance companies rather than building societies.Quote:
Originally Posted by Bladerunner
Anyway, I'm off back to running threads 'cos I feel like an interloper here spoiling C.L.'s and The Heathens' fun ;)
Anyone keeping the score by the way...:D
The score is hereQuote:
Originally Posted by Stick
Well my post count is going to stay like that. Everything that needs to be said has been said, plus I've got a busy week this week and wasted far too much time on this thread!Quote:
Originally Posted by XRunner
I only posted my original post to illustrate that the price of gold had gone down over the last 3 months and managed to get dragged into this!
What odds are you offering Stick?? :DQuote:
Originally Posted by Stick
So, we're agreed then, vernacular usage is indeed interchangeable.:rolleyes:Quote:
Originally Posted by christopher leigh
Looks like more black news tonight
At this rate all the banks will be state owned by Friday:o
The Government have had to step onto the FRA forum pebble bank in order to stabilise the situation caused by the ongoing pebble crunch. Too many deposits by the fell ponies have created a disastrous situation and this has been compounded by some maverick elements who were caught trundlering large pebbles down the bank which was creating an avalanche effect. Those overgrown boys DazH and Dominion were considered the main culprits.
The addition of extra cement into the pebble bank has created some concrete foundations on which future interest may grow. Unfortunately Mud has been found under the pebble bank and this has created an unstable solution when mixed with the aforesaid fell pony droppings and other liquid assets. A general freeze on future deposits may help. Otherwise we will have to plant a hedge fund to help these accounts.
The practise of short selling pebbles at the toast exchange has been outlawed until Danbert can again afford his elevenses.
The resignation of The Heathens as a financial expert has been a difficult loss but the sacking of Christopher Leigh was universally welcomed.
It is expected that these precautions will allow us to continue the run on the pebble bank.
Signed A.Darling.
To those of you who haven't yet discovered The Daily Mash, now might be a good time...
http://www.thedailymash.co.uk/news/b...-200810081308/
THE government is to invest £500bn of your money in British banks so they can lend it back to you with interest.
The historic move is being hailed as a lifeline for the financial system as long as nobody asks too many questions.
Julian Cook, chief economist at Corbett and Barker, said: "The government will give your money to the banks so the banks can start lending you that money, probably at around 7% APR.
"Thanks to all the interest you're paying on your own money, the banks will make billions of pounds again and normality will be restored.
"After a few years of this the government will cash in the bank shares it bought with your money and use the profits to build a huge ****ing dome somewhere."
He added: "In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot."
Chancellor Alistair Darling said the decision had been taken in tandem with the banking industry, adding: "They used a lot of dirty words I'd never heard before and one of them had an angry looking dog."
Meanwhile, Emma Bradford, a sales manager from Bath, said: "Why doesn't the government just give my money to me so I can buy stuff from businesses who will then make a profit and put it in a bank?"
But Mr Darling insisted: "Shut up."