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Read moreMonday Musings 15/05/2023
Monday Musings 15/05/2023
We’ve all heard it haven’t we, that old proverb that all that glitters is not gold? And we all recognise the truth in that. But how do you know when a sparkly shiny thing being dangled in front of you is the real deal or just more of the proverbial unpolishable? I suspect largely this proverb goes hand in hand with another old favourite – if it looks too good to be true, it probably is.
I recently read an article in the Financial Times about another IFA having to help clients who have lost, in some cases, hundreds of thousands of pounds investing in alternative investments like Crypto and even whisky that were either massively overpromising and under-delivering or just plain fake scams, advertised on social media like Facebook. It’s pretty heart-breaking reading.
The FCA is working with online platforms to tackle advertising of these products or scams, but it’s a long battle and one they won’t win easily or soon. As quick as the FCA or social media platforms may be, the scammers will always be quicker.
So, what do you do? Well, here’s another proverb… oh ok, advertising slogan. It’s good to talk. Talk to someone who can offer regulated advice, like us. We can talk you through the potential red flags, pros and cons of any investment you hear about so that you can make informed choices. And importantly, only a regulated financial adviser like us will be able to spot whether your investment would be protected if things go wrong.
Got a friend or family who’s bragging about an amazing, once in a lifetime, too good to be true investment? Maybe we should talk to them too.
So, to the markets
30.12.2022 | 16.05.2023 | % Change | % Change on week | |
FTSE 100 | 7451 | 7791 | Up 4.56 | Up 0.18 |
Dow Jones | 33147 | 33348 | Up 0.60 | Up 0.14 |
Nasdaq | 10466 | 12365 | Up 18.14 | Up 0.66 |
S&P | 3839 | 4136 | Up 7.73 | Up 0.30 |
NIKKEI | 26094 | 29842 | Up 14.36 | Up 0.73 |
Hang Seng | 19781 | 19978 | Up 0.99 | Up 0.04 |
Shanghai | 3089 | 3290 | Up 6.50 | Down 0.60 |
CAC 40 | 6473 | 7415 | Up 14.55 | Down 0.03 |
DAX | 13923 | 15933 | Up 14.43 | Up 0.10 |
I had a strange encounter on Facebook this week (sounds silly, bear with me…). A new mum put a post up on a local group asking for help. She said.
Read moreAs I’m sure is the case for you, I’ve been watching the coverage of the Israel – Hamas war with horror. The loss of innocent civilian lives, the impact of.
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