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I suppose you right gcr. I was just imagining how it worked long ago. Perhaps 40 years ago?Nope from a bank point of view we used brokers directly and placed the funds in an escrow account with the broker - in my Durban days it was Richard Castle and Ferguson Bros.
Orca - you obviously weren't buying and selling shares 20 years ago. Most banks had centralised buying/selling and operations people called "brokers" within their operations were online to the exchange. A number of banks also had ticker tapes running in their large branches and you could read this on an ongoing basis during the trading day Also many share holders did not register their shares in their own names but kept them in a nominees name to obviate the "clean consideration" requirements to trade on the JSE. In fact the bank I worked for centralised their scrip operations in the 80's - I still hold all my shares in a bank nominee name to this day. Holding shares in nominees also served the purpose of remaining anonymous, and some used it as a means of hiding wealth from a spouseI am in stxind now over 18 months and has returned 60.7%. The divi is not great, about 1% i think and paid every 3 months.
Well chosen franz.Now you beating most if not all UT's all by yourself. No management fees as well. Only minimal admin fees if done on the JSE via a broker. If only I had known this 20 years ago. Ummm...... Actually it would not have worked back then. Only hit me now as I was typing.
Twenty years ago you would have had to buy the Sunday Times to get the price. Then schedule a time and day to see your bank manager. A week later you in his office and discuss the price you saw a week earlier. He gets on his phone and winds the handle 3 times to get a telephone operator who connects him to some broker in a smoked filled sleazy office somewhere. He in turn goes through the same procedure to connect to his aid at the JSE who immediately sends a telegram to the company saying that a customer wants to buy shares of a certain amount. Three days later he gets back to the bank manager with a price. He phones you and you agree even though the price has change significantly. Now you have to wait a week for the share certificate sent by post.
Now try and sell it. Eish.
Why am I rambling?
Talking to myself again as always. Anyway, I tried and failed to get some responses. It is sad that this competition has SO many entrants and no interaction.
Are you guys all 1c investors and are now too embarrassed to post? I doubt it. I will not post anymore as I feel that I have wasted my time.
I thought funds which don't want to qualify as retirement funds are allowed to go 100% equity. I know FOORD equity who I'm with is practically all equity.Patrick - if you get closer to retirement you would consider switching to STXDIV - why would you want to do that - the growth in share price is pretty dismal. I think its a fallacy to believe that once you get close to retirement or actually retire that you must suddenly become all coy and cautious - I think this is nonsense - maybe what you need to consider is that you take say 60% of your invested funds and put that in to less risky but stable companies and use the 40% to invest in more riskier shares, but, this does not mean investing in penny stocks - prior to or during retirement these are a no, no.
Welcome GoldenBalls. I'm in the same boat as you, I put a chunk of money into a unit trust, and now I plan on moving it to an ETF also due to the fees. At the moment it'll also be the indi like you, but as I get closer to early retirement I may switch to the divi.
I'm with ABSA stockbrokers, and as they charge 0.4% or R120 minimum, plus waive the R800 yearly fee is you trade 5 times a year, they only make the best financial sense if you can invest R150k a year.
NO no. jaDEB.Orca - nothing wrong with BIL I have been buying up small parcels when ever they dip - I think that most shares are pretty volatile and have been ever since May. I have been buying in the R 274 range but if it dips below this level I will buy more - but my ceiling is that I don't want to invest more than 15% in any one counter and it is sitting at 12% currently. I do think that one needs to steer clear of the small miners until labour unrest stabilises - I see Village will now start firing their staff
BIL went up lekka today but will go down just as lekka tomorrow.
Leave gold and ALL resources alone now. Start making money FFS. WTF are you doing?
You are loosing your money plus your boet's and and the other family members money.
Agree Orca. Trading.... I am bored.....thus want to trade with 10% of portfolio.I think there was a very specific reason for the hiving off of SGL by GFI and that was to ring fence the SA assets. If there was a crunch and mines were nationalized and or mineral rights were terminated ort made more onerous it could have affected GFI quite significantly. By ring fencing and then hiving off the SA assets it reduces its exposure to the uncertainty in this country. There is still lots of mutterings around its BEE deal and this was one of the reasons why it's price took a hammering. To my mind they are now a more diversely spread mining company where SA constitutes 23.42% of their total activity so if things sour in SA then it will not be a total train smash for them. SGL also has Froneman as CEO, and Vilakazi as director none of whom I like particularly so won't invest in their business - the same reason apply to Village from my perspective. So that's my take on why I went for GFI
Grrr, why Goldfields and not SGL. I like their div policy.
Should we not try some Gold.......speak to meI have been purchasing Goldfields over the last couple of months (since they spun off Sibanye) and my average purchase price is R 56.92 and over the last 2 weeks my paper losses have dropped quite substantially. The only reason for buying GFI was that once they spun off Sibanye their price fell quite considerably, and still think it has the potential to rebound - not to the same highs as before but I do think it could go back to about R 80 to R 85 per share. I think gold mines will only commit new funds once all the labour issues are resolved and the government would be even more stupid if they didn't allow some relaxation on labour laws as they derive q substantial sum of revenue from all mines. The one thing that still does worry me is that mines are getting deeper and more costly to mine and that we have dropped to 5th position as a world producers. Once demand exceeds production then prices should move up especially dollar gold price and if returns improve on the mines. Think mines are looking hard at greater mechanisation as labour costs are exhorbitant
gcr, did you see my post re: your UT base cost grievance ?Yup did thanks and have amended my figures for SARS accordingly
http://www.shareforum.co.za/shares/tax/msg1251/#msg1251
Off to see my tax accountant tomorrow. She says that the "Voluntary Disclosure" might not help as they would have picked it up sooner or later.Orca - I don't know whether it will help, but, maybe you need to argue with SARS on the basis that your intent has always been to obtain growth to lessen the likelihood of you making a claim to the state for financial support and also to be self supporting. Further you have a financial responsibility to yourself to protect yourself from market crashes and what transpired in 2007/8 was the second most severe market correction since the depression of 1929/30. Simple fixed investments are for short period of time and yet there is no CGT for not holding a fixed deposit for longer than 3 years so why is SARS targeting investors in the share market with tax on turnover of shares, CGT, and withholding tax - they are being grossly avarice towards a segment of the investing public and they only share in the growth of shares and give back nothing when a tax payer incurs substantial losses. They are not dealing with investors in a very even handed manner at all
VD only helps for certain businesses that can easily hide income from SARS. Churning your JSE stocks WILL get picked up eventually.
So now it is fines, penalties and interest. Plus everything is added to my income.
So if the 14720 represented half your CML portfolio then your CML port was worth R 2 mill and then you still have Metair and Pinnacle. So in terms of your long term goal your portfolio is now worth well over R 2 mill - or are my calculations incorrectSold half as it became too large percentage wise compared to the other two stocks in my portfolio.
So you sold all of them or only 1/2?
We will see what happens next week. Put an order in at 6800 for half my holding. Portfolio too heavy with CML.Would that be your 12267 shares sitting there just about to be gobbled up - currently trading 67.91 and should hit 68 this afternoon. OOPs some have gone at 68 already
Just tried to jaDEB. Too volatile. Tried at 6840, then at 6828 and then it dropped to 6785 so left it.Just put an order on to sell at R 70 expiring end September and sit back and wait for it to get to that level. If the funds under management are not stella I doubt that the sensible investor will punish them it will only be the trader who may take flight.
I have financial freedom. My car is a 2005 model and paid for. Why buy a new one when the old one is still good? Only 71k on the clock so good for another 7 years.Orca - not to burst your bubble - but I don't think you have achieved financial freedom - it may be very real right now, but, when you need to replace your car it will be capital that you spend (you don't use credit) and once capital is spent it is very difficult to replace it from the remaining capital. Also medical costs only get worse the older you get and you will find that a medical aid only is supportive to within limits. I can talk form experiences as I manage my folks finances and they spend their days popping pills and visiting doctors due to their very advanced ages.
Don't have to think about what to wear as I only have 2 pairs of jeans, 4 shirts and 1 pair of takkies.
Our neighbour has 2 cars, a high maintenance wife and all the bling you can think of but is he happy? No. Nothing is paid for.
I'm happy as I have no debt and even lend my neighbours a couple blue notes every month.
