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However, managing your money through the ups and downs, if you are already invested is a different matter. Your real challenge will come if we have another big dip and you are already invested.
My point is, what you do with your money and how you do it depends on it's relative importance to you and the size of the pot, and your stage of life.
Dabbling with 20k of shares when you are 30 is a lot different to dabbling with the same amount when you are 50.
If you are in your 50s and you are looking at hundreds of k in investments, which will be your nest egg, then that becomes an entirely different scenario.
Then you have another potential complication of overlaying tax management when that become relevant.
Personal circumstances dictate what you do, and all I'd say, is based on my own experience over a long time, leaving it to a pro makes sense for every single reason that matters.
Do the research, find a good institution and relax. For anyone seriously considering what to do with their money for mid to long term have a look at findawealthmanager.com. They are a broker, and match your needs to a selection of firms for you to contact and grill. I found them very useful, open and helpful.
https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000OMUC
An interesting view point here from Social Capital CEO Chamath Palihapitiya, who will remain invested in Tesla due to the bigger picture bet, beyond EVs, of more widespread electrification and decarbonised energy distribution and management which he believes Tesla will pioneer.
Also, his view on the knowledge and power of retail investors now matching or bettering the institutional investment professionals is interesting.
btw also: the small caps and micro caps are too hard to trade for the big funds, you can only buy/sell so many shares a day, not like RDSB or BT. I can easily dip in and out of these shares, which (as discussed) tend to move more
https://www.ccn.com/tesla-stock-crash-dumb-money-buy-dip/
"According to Robintrack, Tesla was the most popular stock on the Robinhood brokerage app for the previous 24 hours.
More than 16,000 new investors purchased TSLA stock in a single day. That’s all the more impressive considering it already appeared in more than half a million portfolios.
Robinhood’s user base trends toward inexperienced, younger investors of the millennial cohort. And it teems with impulsive amateur traders.
Institutional money disagrees sharply with the retail crowd on where Tesla stock is going next.
The unsophisticated retail investors piling into this bubble have little to no conception of these byzantine operations in equities markets. They naively bank on past performance in the hope of future returns.
Let’s settle this once and for all: Elon Musk and Wall Street are right; the people investing in their pajamas are wrong."
I have a tiny, tiny amount of skin on the Tesla game and the fund managers will decide how and when my small stake moves but I am intrigued as to how this one plays out over the next 12 months.
"Advanced Micro Devices Inc. AMD, +16.50% shares recorded their best day in 18 months Friday after larger rival Intel Corp. INTC, -16.24% surprised investors with news that its competing 7-nanometer chip would be delayed by at least six months because of manufacturing issues. On Friday, AMD shares closed up 16.5% at a record $69.40, while Intel shares finished down 16.2% at $50.59"
A couple of weeks ago they were switching into more traditional stock, the leaderboard on 14th July was:
He shares his views on the FTSE 100 and the prospects of UK smaller company stocks in the face of COVID & Brexit, among other points.
https://citywire.co.uk/wealth-manager/news/harry-nimmo-why-i-took-the-tricky-decision-to-buy-liontrust/a1381683
Eg the ftse100 dropped a little yesterday. If I buy into a ftse100 tracker today, am I buying at the value of the market at the end of the day yesterday?
I might be completely misunderstanding everything anyway, in which case please try to set me right!
Tracker funds and mutual funds aren't really designed for quick trading, more a buy and hold for several years scenario. A software app like E-Toro, FreeTrade or the Interactive Investor site would be quicker but quick trading is usually done in individual shares. ETF's (Exchange Traded Funds) may be quicker than a regular Tracker fund but I have not experience of using them
I think you can buy up until 8am on that day for Uk funds (i.e. before the UK market opens)
I've held off completely since the initial market falls, but had started to think about dripping small amounts in when the FTSE is around or below 6000. My instinct is there may be another panic sell-off at some point, so I'll maybe hold fire for now.
Not sure that an acc. fund would be more cost effective than an ETF just because you don't need to reinvest cash dividends yourself, since the ETF fees are usually much lower than the fees for unit trust funds