Buying shares in a bank right now

Paul_HDLover

Well-known Member
Im a bit tempted to splash some cash on RBS shares right now. Closed at 90p a share today, 40% down on previous day. 12 month high is > 500p a share.

Anyone else tempted?

Shares can only improve in the morning as the US bill goes through and Darling makes an announcement at 7am.
 

booyaka

Moderator
they have dropped again this morning despite the announcement of the rescue package.

RBS down 30% this morning alone!
 

Bald Monkey

Distinguished Member
Don't buy now IMHO...

They have droped for a reason. The 'rescue package' will be an amount of capital in return for shares.. (in basic form) these shares will mean that current shareholders will have their value diluted as they will basically own a smaller share. That's why prices have fallen since the rumours of this deal surfaced yesterday.... or was it the day before??

Anyhow, wait for now IMHO

If you want some short term profit try buying your food now, as in a few months it's bound to cost you more ;) :D
 
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Ian J

Banned
I assume that RBS is on the "protected list" that people aren't allowed to sell short on.

I think that it might be time for me to have a dabble :D
 

Bald Monkey

Distinguished Member
77p now...
 

domtheone

Distinguished Member
I assume that RBS is on the "protected list" that people aren't allowed to sell short on.


They are. Will expire at some stage though:(

I hold a fair few Lloyds and a few RBS.

I don't expect to see a return on my capital now for 10 years.

If anyone is investing right now, make sure you can afford to leave the cash there for several years!

Taking a hammering today again (select banks).

I might be tempted to add more if the likes of RBS/Lloyds go to something silly like 20p.

Not just banks either. BA lost well over half it's value in a few weeks.

Biggest crash in modern times.

I think the fallout of this will last a generation (re taxes, pensions etc etc).
 
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Bald Monkey

Distinguished Member
THe money is going somewhere and it isnt going to the Banks so where? GOLD? Futures? OIL? Under the mattress?


All the above are gaining, I think. And a lot is probably going under the mattress. :D

I think everyone will wait until there's more details on the buyout plan.. Interesting there's a small rise right now, but considering the volume of trades, this could just be IanJ :devil: :D
 
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Solomon Grundy

Distinguished Member
I've still got the shares given when National and Provincial were taken over by Abbey...and then Santander...haven't a clue what they are worth now but I'm thinking I should have sold them years ago!
 

hornydragon

Distinguished Member
I've still got the shares given when National and Provincial were taken over by Abbey...and then Santander...haven't a clue what they are worth now but I'm thinking I should have sold them years ago!

I know of one person who inherited some HBOS shares which at the peak were worth ~£30k now under £5k They didnt even realise until the news hit about the takeover (is that still happening?)
 

Sandman

Distinguished Member
I bought HBOS shares last week when they were at about 127p. The 52 week high on those was about £10. Closed last friday at over £2 but took a hammering yesterday and dropped below £1 but they will slowly recover. It will just take time.
 

supahoops

Active Member
who is a company/web siteto buy and sell shares without them taking a big cut??


I used hargreaves landsdown this morning to buy some RBS the other one to try is td waterhouse not sure what the cut is. I think it depends on how many shares you are buying.
 

Newton's Ring

Active Member
I've just tried ringing Selftrade to try and retrieve my old account details but can't get through on the phone...I can't imagine why...
 

NewMan

Well-known Member
It seems some people had the same idea as I have....

One question though, isn't there something you have to do to declare profits made on shares to the Inland Revenue for tax purposes? Fill out a self-assessment tax form or something? Its the one thing that's always prevented me from dipping into shares...
 

Sandman

Distinguished Member
It seems some people had the same idea as I have....

One question though, isn't there something you have to do to declare profits made on shares to the Inland Revenue for tax purposes? Fill out a self-assessment tax form or something? Its the one thing that's always prevented me from dipping into shares...

Thats only if you make a profit. You will be fine :devil::D.
 

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