What is jumping out at me is your lack of knowledge in what you are doing. It's very hard to pick individual stocks, so don't do it. When you do due diligence, what are you going to do? Remember, when you are buying, you will most likely be buying off a fund manager who has done a lot more due diligence that you and will sell it to you at a higher price.
Seeing as the tax tail is wagging the dog, invest in investment trusts and forget about them.
If you invest in quality companies, you are doing anything but gambling. You are investing your money and it will grow in the long term. Invest in bad companies, you will indeed be gambling and will most likely lose your money. Best of luck with it.
Sure sent via PM. IBKR also have great rates for Fx conversion although be wary of using it for that alone and not investing as they will block your account.Thanks for that. Have you got a referral that I can use for IB?
Thank you.Sure sent via PM. IBKR also have great rates for Fx conversion although be wary of using it for that alone and not investing as they will block your account.
I would 100% concur with the first line of this reply- You have no idea what you are doing, it is kind of of scary ready your post.What is jumping out at me is your lack of knowledge in what you are doing. It's very hard to pick individual stocks, so don't do it. When you do due diligence, what are you going to do? Remember, when you are buying, you will most likely be buying off a fund manager who has done a lot more due diligence that you and will sell it to you at a higher price.
Seeing as the tax tail is wagging the dog, invest in investment trusts and forget about them.
If you invest in quality companies, you are doing anything but gambling. You are investing your money and it will grow in the long term. Invest in bad companies, you will indeed be gambling and will most likely lose your money. Best of luck with it.
I would 100% concur with the first line of this reply- You have no idea what you are doing, it is kind of of scary ready your post.
If you are looking for a globally diversified investment with low charges and a tax efficient structure, surely your professional broker can provide the solution. Or indeed many people on here. It seems to me there should be a 'correct' answer to that.I will do some Google research to look for a list of investment trusts and find a good globally diversified one.
this is not the way to go.I'll be more knowledgeable and confident in picking and choosing stocks more actively.
that's a little more active than I intend to be. A lot actually. I don't think I have the knowledge or the desire to be that involved.
Are you saying that I should just ask my broker to arrange it? The whole point of this is that I don't want to pay his fees.If you are looking for a globally diversified investment with low charges and a tax efficient structure, surely your professional broker can provide the solution. Or indeed many people on here. It seems to me there should be a 'correct' answer to that.
I know that is not the way to go, I've stated that's not the way I'm going until perhaps at some stage in the future when I have read more, have more experience and am generally more knowledgeable on the topic.However if you want this
this is not the way to go.
Either you want a low cost, tax efficient, globally diversified investment or you want to conduct experiments and become more knowledgeable.
Yes I 100% agree, a financial advisor will stop you panicking and selling in a sell off because they will have alot more experience. It takes a long time to build up the experience and fortitude to sit out sell offs and not get carried away in bull markets. Usually you build that up gradually with small amounts of money, then when you get to 250K you can sit it out when that falls to 170k in a sell off. That happened in March 2020 ,the fastest sell off in stock market history. Some people on this site sold out during that sell off, it was actually a fairly frightening experience but largely forgotten about now due to the very rapid recovery afterwards. But nobody is saying that in real time, its only afterwards its obvious€250,000 is a lot of money for an experiment. Use €10,000. If you mess up, you still have €240,000.
One of the many reasons why people use an advisor is it created a barrier between them and their money. Having money in a trading account, you can cash out while watching the news on a Friday night. Using an advisor, they talk to their advisor before making that decision. You also have someone to talk to when you are nervous about your money and the markets. The fee that you pay your advisor may end up being peanuts compared to the amount of money you lose going it yourself when you don't know what you are doing.
Steven
www.bluewaterfp.ie
A 3% holding out of their 167 total, its not a big deal.JAM holds a position in bershire b so not much point in owning both
You say "investment trusts" but Berkshire's not an ITYes, I most certainly have a lack of knowledge in the area! It's for that reason I don't intend to pick individual stocks. I am already paying an investment manager for that service. Like you said, I'm going to stick to investment trusts with this experiment and see how I go. Thanks for the input.
OK I have read this over a few times, and I don't understand what you are trying to do here.
You have €250k over and above. You don't like fees or taxes. Thats straightforward, but where are you going from there.
If you are looking for a globally diversified investment with low charges and a tax efficient structure, surely your professional broker can provide the solution. Or indeed many people on here. It seems to me there should be a 'correct' answer to that.
However if you want this
this is not the way to go.
Either you want a low cost, tax efficient, globally diversified investment or you want to conduct experiments and become
Yes I 100% agree, a financial advisor will stop you panicking and selling in a sell off because they will have alot more experience. It takes a long time to build up the experience and fortitude to sit out sell offs and not get carried away in bull markets. Usually you build that up gradually with small amounts of money, then when you get to 250K you can sit it out when that falls to 170k in a sell off. That happened in March 2020 ,the fastest sell off in stock market history. Some people on this site sold out during that sell off, it was actually a fairly frightening experience but largely forgotten about now due to the very rapid recovery afterwards. But nobody is saying that in real time, its only afterwards its obvious
You say "investment trusts" but Berkshire's not an IT
You need to be familiar with US estate tax if you are investing a substantial sum in BRK.I'm going to spread 250K across Berkshire-B, JAM Investment Trust and maybe one other, I'm avoiding ETF's because of the taxes. Then, I'm just going to leave it alone and see what happens. I'm looking at this as 15-20 year investment
You need to be familiar with US estate tax if you are investing a substantial sum in BRK.
In your shoes, I would invest the lot in FCIT and call it a day (I’m assuming you are resident and domiciled in Ireland).
Not sure about Berkshire at the moment, he has made a few mistakes, he bought airline stocks then sold them in 2020 at a loss before the airlines had a big recovery not long afterwards. He jumps in and out of oil stocks aswell rather than "holding forever ".Also Berkshire has 50% of its portfolio in Apple, not great diversification
Yet he beat sp500 over both the last 1 year and 5 year timelines.Not sure about Berkshire at the moment, he has made a few mistakes, he bought airline stocks then sold them in 2020 at a loss before the airlines had a big recovery not long afterwards. He jumps in and out of oil stocks aswell rather than "holding forever ".
He made a big mistake with Tesco by buying at high share price then selling out at a loss a decade ago and also missing out on the recovery in Tesco share price. Again he didn't do as he says because he bought high and sold low. Also he has been sitting in cash and government bonds for years waiting for "better prices " .