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Old 25-12-2010, 12:47 PM
onq onq is offline
Former user
Location: Dublin
Posts: 4,408
Default Fingleton should not be criticized for investing his pension in bank shares

moderator note: split from this thread about Fingleton's pension

Back when I had money to invest - a short three/four years ago - my choice would have been similar to Finger's Bank Fund.
Only Anglo was seent as a "risk" back then - BOI and in particular AIB were seen as gilt edged investments.

Most wealthy clients of mine had structured their portfolios to take advantage of the perceived stability of banks shares.
Even those with relatively well-populated portfolios still maintained up to 50% of them in bank shares.

After the crash, one particularly well connected, well-funded and well advised client confided "we have lost half our money".
It is disingenuous for people now to be calling portfolios relying on supposedly gilt-edged bank shares "too risky".
Nobody, not even well-advised people in high society, foresaw the catastrophic fall of the Irish Banks.

Except perhaps creatures associated with Goldman Sachs, whom we all remember with findness.
They're the finance house who engineered the repackaging of toxic debt for their own gain and the world's greatest financial loss.



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