Tech Android Talk Wileyfox.

This topic contains 16 replies, has 6 voices, and was last updated by Richard 4 days, 21 hours ago. This post has been viewed 236 times

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  • #16840

    Ed P
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    • @edps
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    Unfortunately the UK still has one of the world’s poorest infrastructures for innovative financing. It is one reason why companies still like going to the US despite all its associated software patent squatting downsides.

    #16841

    Richard
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    • @sawboman
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    If the grass is really so much greener in the US banking industry perhaps WF should have borrowed there rather than from Russia. With overseas borrowing the foreign exchange risks tend to apply and I think I raised issues about the levels of ‘innovation’ developed by RBS, Halifax Barclays et al. I knew a company accountant who brought out the head office accounts need for smelling salts years back via his then ‘innovation’ of placing short term spare cash on overnight deposit.

    How well your eulogy sits with the USA banking innovation of such bold ideas as Ninja mortgages and all the other banking issues across the pond is another issue all together. In this regard the banking and stock exchange bubble travails of Japan with its innovation of re-cycling loan securities also deserve a noteworthy mention – that also did not end well when the bubble burst.

    Sometimes a little more banking balance and a bit less commission hunting could be a superior answer, what is wrong with some equity financing where the investor punts the cash, carries the risk and hopes to make a return?

     

    #16842

    Bob Williams
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    I don’t have any input to offer in the discussion between you, Ed and Richard, as High Finance is not my forte. However, I can answer this, Richard:

    ” ...what is wrong with some equity financing where the investor punts the cash, carries the risk and hopes to make a return?

    I’ll tell you what is wrong with that scenario: it is when a family gets a small windfall just before the brown & smelly hit the rotating object of UK and world finance. The result was a loss of >50% and it has taken until very recently to replace just about 50% of the 50%.

    If I won the Lottery Big One this week, there is no way on this corrupt, capitalist-driven planet that I would dip my toes into investment again.

    “If you think this Universe is bad, you should see some of the others.”
    ― Philip K. Dick, legendary SF writer.

    #16844

    Tippon
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    If I won the Lottery Big One this week, there is no way on this corrupt, capitalist-driven planet that I would dip my toes into investment again.

    I’d treat investments in the same way that Steve says he treats bets in the other thread – I’d consider the money gone as soon as the investment was made, and anything that comes back would be a bonus. Maybe not the ‘best’ way to handle it, but probably the best way to do it without getting overly stressed.

    #16846

    Richard
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    • @sawboman
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    No bob, like me you should not punt more than a tiny proportion of risk ‘capital’, – currently my proportion is zero. That is why I shall probably also make a gain of close to zero. Punting on wild shots is NOT for small investors, I am not even a small investor.

    It is late, I am not at my best, good night.

    #16848

    Ed P
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    “If the grass is really so much greener in the US banking industry perhaps WF should have borrowed there rather than from Russia”

    Richard the US banking system is even worse than ours! You do not borrow from banks but from venture capital companies, these  pretty much requires you set up your company there, that would expose WF to all sorts of spurious ‘look & feel’ patent claims. Not really practical for them.

    #16849

    Ed P
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    • @edps
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    I sympathise with Bob, Unfortunately he was probably a victim of the IFA money grubbers who just wanted to continue milking their no-risk (to them) 2-5% fee structure. All the warning signs were blinking bright red at the time but there were very few voices willing to state the obvious  – that the dam was about to burst and preferentially destroy all those who came late to the party. It wasn’t helped by Gordon Brown’s actions to pillage pension funds, a move that could not have come at a worse time, but typical of a man who sold out our gold reserves at their lowest possible price.

    There were very similar warning signs flashing just a few months ago when we previously touched on stock market risk, and I mentioned Warren Buffett’s predictions that the current dam was about to burst and send us into a full-blown Bear Market. I do not think we have yet seen the worst of that forecast. as Price/Earnings ratios are still at a stupidly high level, and we have yet to see the full negative effects of Brexit – whatever that word is supposed to mean.

    #16852

    Richard
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    • @sawboman
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    Ed, it is not so easy to cherry pick from what appears to pass for a system in other countries. We have our own ‘financial services issues’, the USA has their own financial/legal ‘system’ issues as does, for example Japan, et al. While vulture capital companies exist in other jurisdictions with the USA having ‘Venture Vultures’ to boot. Raising cash on such as AIM or as a private share or bond sale which has been a regulated industry that has been used here for years, usually small investors are barred. The point is that a bank would not be my prime choice for finance in any country.The problem is that a bank can recall the loan at any point leaving the borrower high and dry, other finance methods can usually be free of such problems.

    In fact with the exception of a mortgage taken out in 1975 and paid off by 1980 I cannot recall taking out any loans in this country. While overseas I did buy a BMW via a series of promissory notes signed over to the dealer, which they later discounted with a bank when the dealer wanted cash in a hurry. I then bought them back from the bank. As an aside, my UK bank told me that I had been a very naughty boy as the then Labour Government had tight exchange rules which the UK bank thought could/should restrict foreign loans.  As I was paid in currency had signed the notes in that currency, the deal had no UK involvement plus the matter had almost concluded and I had not technically had a loan anyway, I considered that issue moot.

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