Free money

Just paid £5000 for a cruise to NYC in 2018 and shoved it onto a 48 mo nth interest free card while my cash makes 7.7% in BP share dividends. If y ou have a 5* credit rating, there are no end of credit cards that are clamo uring for your paltry £17 transfer fee even if they don't actually mak e a penny in interest.

Reply to
Simon Mason
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If you have a good credit rating you don't need to pay a fee.

Reply to
dennis

I can get a deal with no fee, but it won't stretch to 48 months.

Reply to
Simon Mason

So, you have in effect borrowed £5k interest free for 4 years to invest in BP shares. That's a pretty high risk strategy. High risk => you will make lots of money some of the time and lose lots other times.

Reply to
GB

borrowed £5k interest free for 4 years to invest

Bought £50000 in BP shares on 14JUN16, sold them for £4.93 today. £19000 profit + £1000 divis = £20000.

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Reply to
Simon Mason

Tremendous. Well done. Nevertheless, the point about free money is not right, as it ignores the investment risk.

Reply to
GB

day. £19000 profit + £1000 divis = £20000.

If BP can be fleeced of £48,000,000,000 by Obama and survive, it will stand anything.

They will be £6-00 in a few months one oil goes north of $60.

Reply to
Simon Mason

So, why did you sell at £4.93?

Reply to
GB

less Capital Gains Tax

Reply to
charles

I had set a ceiling of £5-00 to sell and that was near enough. I believe in the trade it is called "profit taking".

Reply to
Simon Mason

Massive oil company shares are totally under the control of the oil price and the value of the US dollar.

Weak Dollar = Strong commodities (and oil) Strong Dollar = Weak commodities (and oil).

Just watching the £/USD FX rate gives you a good idea of when to buy/sell oily shares.

In Jun 2014 you got £1.70 for a dollar and RDSB share price was over £26. Good time to sell and move into airline shares. IAG was about £3 at that time, by Jun 2015, IAG shares were £6 and oil while commodity shares were sliding and hit a low point in Feb 2016, when you could buy RDSB shares for just over £12 and BP shares just over £3. They were £22 and £5 early in July 16.

Don't forget CGT on your £19,000 profit. £11,000 is tax free but you will have to pay 10% on the other £8,000, unless your total income puts you into higher rate tax, when the rate will be 20%.

Reply to
Andrew

Not that it's actually true.

Reply to
Huge

And therein may lie Mr Mason's problem.

WTF Has this to do with d-i-y.

Reply to
Judith

Mr Mason's "problem" has a great deal more to do with psychiatry than with economics.

Reply to
Huge

Crikey - we do of course believe you.

I always think that when people share such things on newsgroups - then they have made it up.

Why on earth do such saddos think that will be believed - and why do they think they need to share it.

Must go - I want to buy £60,000 of BP shares - I'll sell them tomorrow for a fortune.

Reply to
Judith

So you know that they will be £6-00 in a few months and yet you just sold them for less than £5.

You must really know what you are doing.

Reply to
Judith

I think it may be called : "making things up"

Reply to
Judith

Now come on. Mr Mason has really impressed us over the years in the cycling newsgroup with his business acumen - there is no reason to disbelieve this story ;-)

I wonder why he shared it with us?

Reply to
Judith

And responding to trolls demonstrates gigantic intellect?

Reply to
David Lang

Just checked - I paid no fee at all.

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Reply to
Simon Mason

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