KugaWestie Posted February 28, 2013 Share Posted February 28, 2013 Bankers quite often lose money though - I know this from how my fathers capital was handled - they bought a load of marconi shares for his portfolio, despite him protesting that he thought it was a bad purchase - six months later Marconi went pop and my fathers portfolio went down by 20% (a substantial sum) - thanks! I have no problem with bonuses, PRP, share saves etc. I have had my fair share over the years. But In my opinion, all of these should be linked to profit. Simple. Make money, share the good. Make no money, no share Quote Link to comment Share on other sites More sharing options...
Graham0127 Posted February 28, 2013 Share Posted February 28, 2013 So at last it`s official....We`re a sensible reasonable lot of petrol heads after all.We`re all comfortable or we wouldn`t have such an expensive,excessive hobby....so let the bankers have their money and make plenty more with ours !! Quote Link to comment Share on other sites More sharing options...
Young Pretender Posted February 28, 2013 Share Posted February 28, 2013 KW, I'm not convinced that your dads situ is the fault of 'bankers' as such? Asset management and banking are two separate things. Unacceptable that investment would have been made against his wishes though, even if his assets were being managed on a discretionary basis so sounds like there's a case to be answered there. Asset managers lose money though.. every related advertisement is obliged to point out that the value of your investments can go down as well as up. Quote Link to comment Share on other sites More sharing options...
KugaWestie Posted February 28, 2013 Share Posted February 28, 2013 KW, I'm not convinced that your dads situ is the fault of 'bankers' as such? Asset management and banking are two separate things. Unacceptable that investment would have been made against his wishes though, even if his assets were being managed on a discretionary basis so sounds like there's a case to be answered there. Asset managers lose money though.. every related advertisement is obliged to point out that the value of your investments can go down as well as up. A banker/share dealer/portfolio manager/stock exchange trader (Barclays) purchased the shares despite concerns being expressed. They no longer deal with the money/portfolio as a result! My point is a retired engineer had more nouse than the professional and could see the purchase of Marconi shares was a poor choice. Not good! Quote Link to comment Share on other sites More sharing options...
Norman Verona Posted February 28, 2013 Share Posted February 28, 2013 I said it above but it appears I have to say it again. THEY MADE £3.5 BILLION PROFIT. So bonuses are due to those on performance related pay. I agree that the UK is a wonderful place to live, I moved to France for better weather to help Arthur Ritis and to get out of the way of my son who is now running the business. For probably the first time in my life I am content. We live well away from others and have plenty to do to keep ourselves busy. It's very quiet and we can see the stars at night. Next week it will warm up and spring will arrive. I will then get on and do all those jobs I have to finish. Quote Link to comment Share on other sites More sharing options...
Young Pretender Posted February 28, 2013 Share Posted February 28, 2013 A banker/share dealer/portfolio manager/stock exchange trader (Barclays) purchased the shares despite concerns being expressed. They no longer deal with the money/portfolio as a result! My point is a retired engineer had more nouse than the professional and could see the purchase of Marconi shares was a poor choice. Not good! What concerns me is that an investment was made against his wishes, if that's what happened. Less concerning, and this may sound strange, is the investment choice. Equity investment brings risks even with blue chips, as Marconi shows. Professional analysts will have differing views, investors will have differing views, that's why there's the market to buy and sell so freely. What I mean to say is that it's quite possible for laymen investor to hold the correct opinion over a professional. I'm not trying to diminish your dads situation by the way. My parents have been subject to bad advice too and it is gut wrenching. Quote Link to comment Share on other sites More sharing options...
martyblues Posted March 1, 2013 Share Posted March 1, 2013 Money is lost on the s & s markets by those who are prepared to gamble in an attempt to increase there capital. So the dealers are just gambling with other peoples money. Nice work if you can get it. I would if i could Anyone can have a go just open an account I work for a living, for not very much, but thats my fault/choice. So at the end of the day (sorry) who's the mug? Quote Link to comment Share on other sites More sharing options...
KugaWestie Posted March 1, 2013 Share Posted March 1, 2013 Money is lost on the s & s markets by those who are prepared to gamble in an attempt to increase there capital. So the dealers are just gambling with other peoples money. Nice work if you can get it. I would if i could Anyone can have a go just open an account I work for a living, for not very much, but thats my fault/choice. So at the end of the day (sorry) who's the mug? The mug is the muppet who bought the shares against the wishes of the client, and lost his job over it By the way - Barclays compensated for the loss - they were that embarrassed after some strong correspondence! Quote Link to comment Share on other sites More sharing options...
housebeautician Posted March 1, 2013 Share Posted March 1, 2013 I always thought that people were supposed to work to the best of there abilities for their Wages. Its obvious that they are not if they can do better when offered extra money on top of their wages. The older ones among us will remember the times when, if you did not give your best you got the sack, that was the incentive to do your best. Whenever i got a bonus from the boss it was to say thanks for my efforts and not because it was written into my contract. As for the banks and the other big institutions i don't trust them and never will. 1 Quote Link to comment Share on other sites More sharing options...
Man On The Clapham Omnibus Posted March 1, 2013 Share Posted March 1, 2013 I always thought that people were supposed to work to the best of there abilities for their Wages. Its obvious that they are not if they can do better when offered extra money on top of their wages. The older ones among us will remember the times when, if you did not give your best you got the sack, that was the incentive to do your best. Whenever i got a bonus from the boss it was to say thanks for my efforts and not because it was written into my contract. As for the banks and the other big institutions i don't trust them and never will. See post No.8! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.