Claymore, Halberg Rassey and a Fund Manager

[claymore]

Claymore is staying with the auld boat for a while longer and has written to the Trolls to tell them to put the moulds back in the box as the HR 37 will not be required for the time being.
This is because HSBC decided - without telling me - that they have decided to employ a Remedial Muppet to act as fund manager for my Maxi Isa. Now I'm a kind person and believe in equality of opportunity but I'm not sure that this twerp cuts the mustard. Wouldn't it be grand if we could apply performance related pay to Banks - it would probably have meant that my meagre funds might have enjoyed growth as I wouldn't have had to watch as the robbing sods took their fees whilst developing their natural talent for buying shares in companies hell bent on self destruction

<hr width=100% size=1><font color=purple>regards
Claymore<font color=purple>
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[bedouin]

You have my sympathy - what really annoys me is that they continue to charge high "management charges" when they are clearly underperforming monkeys. If fund managers charged a performance fee related to how much they outperform the index I would be a lot happier, and they would be a lot poorer!

Next time try going for a tracker, they have much lower management fees and outperform all but the top few managed funds

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[Peppermint]

Re: Next time

take your fund up the pub, have a few beers, and run it through the slot machine.

Yes my pension is with Equitable Life.

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[Captain_Chaos]

The collective noun for these people is a wunch of bankers not a bunch of monkeys.


<hr width=100% size=1>74.56% of all statistics are made up.

 

[Oldhand]

Are you sure they are buying shares in "companies hell bent on self destruction"?

My observations are that it is more likely the scum of the earth that call themselves "analysts" that cause the apparent self destruction. They are the people who "control" share prices. But then HSBC have plenty of analysts so its still likely to be their fault.

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[Bergman]

Re: Misconception

The twerps performance isn't measured on how much money he makes for you.

Its on how much he makes for the bank - not quite the same thing

And they've made record profits - guess who from

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[claymore]

Re: Misconception

Bergman - thank you for reminding me of that, it was very kind of you to re-open the wound and that bit of salt you have poured in there is stinging nicely.
Thank you

<hr width=100% size=1><font color=purple>regards
Claymore<font color=purple>
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[brianhumber]

Re: We are all in the same (aging) boats

Since that B------d Robert Horton (the one who f-----d up Railtrack), allowed me to 'seek other opportunities' outside BP but wanted to contract me back in as soon as I was off the pension books, I too have been suffering from these Sods.
Coupled with BLair's policies I think its a grand scam so they give us all heart attacks then they keep the capital for themselves. Wish we could think of a way to shaft them back.

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[robp]

Re: We are all in the same (aging) boats

Wasn't Robert Horton in Wagon Train, or was it Bonanza?

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[Bergman]

Re: Sympathy from a fellow sufferer

The salt will sting but it promotes healing

I too have felt the pain - different bank but same feeling

Its the New Labour economic miracle - footsie lower now than 7 years ago. Its called growth.

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[claymore]

Re: Sympathy from a fellow sufferer

Hmm -

<hr width=100% size=1><font color=purple>regards
Claymore<font color=purple>
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[brianhumber]

Re: We are all in the same (aging) boats

May as well have been for all the good he did at BP and Railtrack.

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[Twister_Ken]

Don't worry for the Trolls, they've just sold your slot on the factory floor to a fund manager from HSBC.

<hr width=100% size=1><A target="_blank" HREF=http://www.writeforweb.com/twister1>Let's Twist Again</A>

 

[claymore]

Lets hope your keen wit and general sharpness are to the fore as you take up the hon. journalist post on the forthcoming X-channel trip

<hr width=100% size=1><font color=purple>regards
Claymore<font color=purple>
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[Miker]

Re: Sympathy from a fellow sufferer

Not you as well, a Scot! I regularly tell my HSBC fund manager that it would have been better for me to have put my money under the mattress. Instead of spending half of my retirement gratuity on a boat I should have defied my wife and spent the lot. I doubt if the depreciation in the value of my boat is much more than the loss in the shares. HSBC have a knack of anticipating losers such as Marconi etc.

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[Cobra]

Re: Sympathy from a fellow sufferer

As Bedouin quite rightly says, unless you are REALLY prepared to gamble, don't throw your money at Managed Funds. They very rarely perform in a flat market (strange that, in a VERY bouyant market managed funds occassionally outperform the index, but in a flat market, they invariably will underperform...makes you wonder why the manager is needed!) If you feel that you really have to invest, then a tracker will invariably produce the best results, and the management charges are dramatically lower.

All IMHO of course!

<hr width=100% size=1>When God invented time he didn't give me enough of it. ND!

 

[bedouin]

Re: Sympathy from a fellow sufferer

That suggests that managed funds are implicitly geared. Not really a big surprise as if you dig down into many of these strategies that claim to outperform the Index they do so by using some form of hidden gearing. That in turn means that they do particularly badly in a downturn.

Many of the current generation of "Fund Managers" learnt their trade in the longest Bull run of recent years when geared strategies do well - they simply have no idea of how to manage a fund in a bear market



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[Cobra]

Re: Sympathy from a fellow sufferer

Correct on all counts! IMHO of course!!

<hr width=100% size=1>When God invented time he didn't give me enough of it. ND!