scrumpyjack wrote:Not sure which is more annoying - selling something that then goes up or buying something that then goes down?
If my understanding of Kahneman and Tversky is right, the second is more painful.
torata
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scrumpyjack wrote:Not sure which is more annoying - selling something that then goes up or buying something that then goes down?
Dod101 wrote:Personally having taken cash out as the share has continued upwards has delighted me as I am still in the money but have secured hard cash to invest elsewhere as well.
Dod
Bouleversee wrote:Dod101 wrote:Personally having taken cash out as the share has continued upwards has delighted me as I am still in the money but have secured hard cash to invest elsewhere as well.
Dod
And how has the elsewhere done comparatively?
Dod101 wrote:Bouleversee wrote:Dod101 wrote:Personally having taken cash out as the share has continued upwards has delighted me as I am still in the money but have secured hard cash to invest elsewhere as well.
Dod
And how has the elsewhere done comparatively?
A fair question except that I was selling because SMT had become too big a component of my overall holdings, as it is today at 8.7% of my investment holdings.
In January I bought Diageo at £31.90, well before the pandemic. Today about £30
In April I bought 3i Infrastructure at £2.52. Today about £2.95
In July I bought Legal & General at £2.165. Today about £2.50
Obviously I would have been better to simply have continued to hold Scottish Mortgage, but I wanted to sell some anyway. I am very happy to have extracted some profit from SMT and put it to work to earn some dividends for me and the three I topped up are very much LTBH. All transactions were either in my SIPP or an ISA so no tax implications.
Dod
JonnyT wrote:Two things from me:
1) Where it goes, nobody knows
2) Better to run your winners...
kempiejon wrote:JonnyT wrote:Two things from me:
1) Where it goes, nobody knows
2) Better to run your winners...
Although a little early I have been contemplating my position in advance of the new tax year as SMT in my taxable account is pregnant with capital gain and at a near maximum. Between now and April the price will vary and I hope continue upwards so I'm contemplating a limit as I don't watch prices closely during trading hours.
Lootman wrote:kempiejon wrote:JonnyT wrote:Two things from me:
1) Where it goes, nobody knows
2) Better to run your winners...
Although a little early I have been contemplating my position in advance of the new tax year as SMT in my taxable account is pregnant with capital gain and at a near maximum. Between now and April the price will vary and I hope continue upwards so I'm contemplating a limit as I don't watch prices closely during trading hours.
If the kind of shares that SMT invests in have a big decline it will likely be very quick indeed. And because the US and Chinese markets are in different time zones, SMT would gap down at the open of London trading. A limit order will get you out but not necessarily at the price you set the limit at.
What would really be great is the ability to hedge by writing put options on SMT so you can profit from any downside whilst not having to sell your position and pay CGT. That is not possible as far as I know, however.
Lootman wrote:kempiejon wrote:JonnyT wrote:Two things from me:
1) Where it goes, nobody knows
2) Better to run your winners...
Although a little early I have been contemplating my position in advance of the new tax year as SMT in my taxable account is pregnant with capital gain and at a near maximum. Between now and April the price will vary and I hope continue upwards so I'm contemplating a limit as I don't watch prices closely during trading hours.
If the kind of shares that SMT invests in have a big decline it will likely be very quick indeed. And because the US and Chinese markets are in different time zones, SMT would gap down at the open of London trading. A limit order will get you out but not necessarily at the price you set the limit at.
What would really be great is the ability to hedge by buying put options on SMT so you can profit from any downside whilst not having to sell your position and pay CGT. That is not possible as far as I know, however.
Lootman wrote:What would really be great is the ability to hedge by buying put options on SMT so you can profit from any downside whilst not having to sell your position and pay CGT. That is not possible as far as I know, however.
UncleEbenezer wrote:Lootman wrote:What would really be great is the ability to hedge by buying put options on SMT so you can profit from any downside whilst not having to sell your position and pay CGT. That is not possible as far as I know, however.
Who would stand as counterparty there?
I hope you wouldn't expect the taxpayer to step in and bail you out if your counterparty - having lots of such business - went bust on that sudden crash.
scrumpyjack wrote:I can't see CGT being at a lower rate in future so will probably sell the holding in my taxable account before 5th April. If Rishi changes anything CGT will be higher from April 6th, IMO
UncleEbenezer wrote:scrumpyjack wrote:I can't see CGT being at a lower rate in future so will probably sell the holding in my taxable account before 5th April. If Rishi changes anything CGT will be higher from April 6th, IMO
Neither can most of us, but Rishi has his personal finances and his even richer wife's to consider. The latest Private Eye reports that he failed to declare some very large interests while acting in parliament to favour them (though the actual cases pre-date his time as chancellor).
Somewhere to look for straws in the wind? Can one find out if Mrs Rishi is positioning herself to minimise the impact of future CGT (perhaps even taking a hit this year) in those assets that are subject to UK tax?
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