"Give me control of a nation's money and I care not who makes the laws." (Mayer Amschel Rothschild)

"Most people are obsessed with money. Hardly anyone is interested in it."
(Wm. Shakespeare)

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FTSE 100 Shares Index (Value) 15 minutes delay. BBC Page
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Since it's inception in August 2000 the Club has paid out £253,000 in profits to members. Members are strongly advised to withdraw accumulated profits regularly; trading options is always riskier than trading in the underlying securities (i.e the 100 companies whose shares make up the so-called 'FTSE 100 Index')


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My Open Option Contracts

(Updated weekly on Friday at close of business, or whenever I re-arrange any of my positions - except I haven't updated them for MONTHS because no one ever reads the blog. See my comments above!)

FTSE INDEX OPTION CONTRACTS
12 x 6850 Short (*) Calls (November 2014 Series)
12 x 6300 Short Puts (November 2014 Series)
Index closed at 6495.6 on 07/10/2014
Expiry on 21st. November 2014

(*) "Short" in the context of option trading means the contracts were opened by selling them.
(**) "Covered" Calls means I have the shares to meet any assignment by the counterparty
(***) "Cash Covered" Puts means I have sufficient cash in my trading account to buy the shares if assigned by the counterparty.


Thursday, 17 October 2013

It's That Man Again!


Today I woke to the news that Prince Charles is fulminating against the pensions industry.  Good to know that I have something in common with the heir to the UK throne!  His outburst is reported in the "Daily Mail", one of the organs of the British press that comes (fairly) close to being a real newspaper.  You can read the article on-line for free so I won't weary you by quoting it here.  You can also read it on-line in the "Times", which is a real newspaper - but you'll have to pay for the privilege.

I noticed one particular phrase, though.  The Prince, who will be 65 next month, says "the pensions industry is unfit for purpose"  Well now, that depends on what he thinks its purpose is!  He means, I guess, that the industry doesn't provide us (you, me, Princes etc) with adequate pensions when we reach retirement age.  The industry thinks its purpose is to screw as much money as it can out of its unsuspecting and financially ignorant customers during their working lives and to hand them much less than they were expecting when they do retire.  Fund managers have to behave this way, or how would they afford to pay themselves 7 figure salaries, buy their Porsches, yachts, second homes in France, pay to join the right golf clubs and order their pinot noir a dozen crates at a time.

Wake up folks!  The pensions industry does not exist to make money for you.  It exists to make money for itself.  Schimples.

(Like his Dad, isn't he!!?)
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1 comment:

  1. Cad20 October 2013 at 21:16

    I must get Ada to come and see this- she's always telling me she'd like me to act like a Prince- not the prince of darkness, though!

    ReplyDelete

I don't leave comments on blogs that use Word Verification. Ditto blogs which I know have Comment Moderation applied. Life's too short and I'm too busy makin' money and what the Hell are these people scared of anyway? If you don't like some creep's comment . . TRY DELETING IT! You have that privilege.
And I never read unpunctuated so-called poetry. I don't understand why self-styled poets think it's clever to make their work difficult to read/understand.

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