Easy Equities suspended trading

DJ... said:
It's noobs advising noobs about stuff they know nothing about. Serious investors would already know better. Noobs wouldn't. Look at marco who used to chuck in a bit of jargon and people believed he knew what he was talking about. Dipschit convinced people that past performance dictates future performance, as an investment rule.

Took ages convincing people he was full of schit. Why should others be obligated to continue doing this? It should simply not be allowed on this forum...
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Yep, lesson learned. Fortunately I went in knowing it was a gamble, prepared to lose a few hundred. Just didn't think that the gamble would extend to the people acting on my behalf...
 
DJ... said:
One should treat this event as an eye opener. A "rare event" can make you destitute and there are very few "rare events" in the investment world. It's all happened before, and will continue happening.
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I agree
Buying Lonmin is a gamble, not an investment.
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True again, which is why i placed "invest" in quotes. This is true for any company share purchase

Don't fool yourself into thinking otherwise. The rest of the financial markets (experienced) have moved on with their investment strategies. They haven't changed them to play in the gambling space. Inexperienced gamblers however have, and guys like EE earn a nice penny capturing the spread from you all, or possibly worse depending on how they respond next.
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Yeah I'm not registered with them. Old school....pick up the phone and talk to my Sanlam broker :D

And stop calling this a rare event. Companies have fallen from equity market grace for ages, and companies have made a fortune from it for just as long. If a company can't handle it, it doesn't make it a rare, unforeseeable event. It makes them fscking useless at their job...
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No argument there. With rare I mean not every day DJ..
Crash and burn companies will do. It happens as you say...and especially with previously healthy established entities like a Lonmin, people get emotional and fsck things up.....I'm not chucking my hard earned cash after a losing cause like Lonmin.
 
As for an easy platform: trading is not easy. Study it properly and most platforms are simple. Until then, there's no magic platform. You either know what you're doing or you don't. I have previously posted huge posts about how to best go about this. I cannot and won't be repeating them on the forum...
 
Mike Hoxbig said:
I made it clear that it was meant as an easy entry point for noobs, not for serious investors. In this regard I believe they're useful, with some caveats. I've since requested that thread be deleted after today's stunt, as I will not be party to bullschit...
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Hey, don't do that. You didn't give financial advice you mearly showed an easier way for fscktards to get involved in the JSE :p
 
Anyways, I'm out. Hope you guys get everything sorted with EE and consult a professional before gambling cash in future. Or rather just invest it properly. Looking for the greedy quick cash option is enticing, but as an amateur the likelihood of you coming out on top is next to zilch. Be smart with your money...
 
DJ... said:
Anyways, I'm out. Hope you guys get everything sorted with EE and consult a professional before gambling cash in future. Or rather just invest it properly. Looking for the greedy quick cash option is enticing, but as an amateur the likelihood of you coming out on top is next to zilch. Be smart with your money...
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LOL :D Didn't everyone make money? Buying in at 29c and shares at 90c seems a nice little profit :D They just need to sell the shares and cash out now :D
 
Toothless said:
LOL :D Didn't everyone make money? Buying in at 29c and shares at 90c seems a nice little profit :D They just need to sell the shares and cash out now :D
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Already addressed in a previous post about gambling. Haven't even addressed volatility indicators yet...
 
I see the experts have come out to tell everybody how stupid they are and blah blah blah.

Anybody who thinks EE is a trading platform is misinformed - it is an investment platform.

The issue here is that they babysit you and tell you you can't sell because the price is volatile and delayed... We know and nobody else does that.

Either way, I'll discuss this via email with them away from this thread which turned into a "your prophet told you so" thread.
 
Hamster said:
I see the experts have come out to tell everybody how stupid they are and blah blah blah.

Anybody who thinks EE is a trading platform is misinformed - it is an investment platform.

The issue here is that they babysit you and tell you you can't sell because the price is volatile and delayed... We know and nobody else does that.

Either way, I'll discuss this via email with them away from this thread which turned into a "your prophet told you so" thread.
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Nobody said that at all. In fact, it was almost everybody's idea to go through EE mainly due to their fees structure. I think the big warnings was against the Lonmin investment itself. The EE s**t was just the cherry on the cake.
 
DJ... said:
That clause relates to liquidity of the specific asset. They're was sufficient liquidity in Lonmin, that's for sure. And not seeing any directives issued on it. That clause can only be applied by them if liquidity was proving problematic. And it wouldn't involve nor require the suspension of trade, which is a JSE issue, not a broker issue. Their terms however state that they're a facilitator and not a broker. So really they have buggerall obligation to anyone other than settlement. This is why it's incredibly risky to put your eggs in this basket, and why for years I have argued that this schit should not be peddled on MyBroadband. I've argued vociferously against this, precisely because people who know no better fall for crap that costs then money.

I watched this starting a few days ago and knew it would result in serious problems. I can't carry on trying to prevent the inevitable. Until this sort of thing is sorted out by MyBroadband terms and conditions and moderators, people are going to lose money. You guys also knowingly gambled, and you gambled with your choice of intermediary. And it was allowed on MyBroadband. And their terms royally screw you. Something any investment forum or actual broker would have warned you about. Something morons punting bullschit that they don't understand on MyBroadband, won't. Simple...
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I accept your skepticism of EE but the platform was also punted by some well-known investment analysts in mainstream media (e.g. Simon Brown, Warren Ingram) and it also won some 'best broker' awards. So it wasn't just 'morons' on MyBB hailing it, so I will excuse those who got burned here. If the MyBB noobs were fooled they are in the company of many who should know better.
 
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Hamster said:
I see the experts have come out to tell everybody how stupid they are and blah blah blah.

Anybody who thinks EE is a trading platform is misinformed - it is an investment platform.

The issue here is that they babysit you and tell you you can't sell because the price is volatile and delayed... We know and nobody else does that.

Either way, I'll discuss this via email with them away from this thread which turned into a "your prophet told you so" thread.
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So they make the decision FOR you, whether you want them to or not? That what you're saying?
I hope not..
 
Toothless said:
I am totally with you on this. This is also a concern for me. Because, I expect to invest around R250k a year and if I want to sell my shares in 5 years time, I may also be met with a message that trading is stopped due to the volumes involved. Nobody wants to invest with any brokerage where you are not sure if you could sell your shares and get your money back. So, yes, that is a concern.

But, I would like to hear from them what they have to say about a user who wants to sell a million Rand worth of shares in any company at any given point in time. Besides, I am sure in their T&Cs there are clauses allowing them to do what they did, which we all agreed to.
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That is the crux of the matter, it's not about short-term trading but whether you will be allowed to exit at a time/price favourable to you whenever you want to sell, be it in to 2, 5 or 10 years time. On the orignal EE thread we did discuss several instances in the past where certain shares were not trade able on EE even though they were trading on the JSE. If I remember the reason given was liquidity constraints. There were also shares where very small amounts of shares were buyable with liquidity cited as the reason.
 
I am going to write a f**king book about this event the past few days. It is going to be hilarious! Anyone interested in sending me your point of view or will I just write was I saw?
 
Galactica said:
That is the crux of the matter, it's not about short-term trading but whether you will be allowed to exit at a time/price favourable to you whenever you want to sell, be it in to 2, 5 or 10 years time. On the orignal EE thread we did discuss several instances in the past where certain shares were not trade able on EE even though they were trading on the JSE. If I remember the reason given was liquidity constraints. There were also shares where very small amounts of shares were buyable with liquidity cited as the reason.
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If that's the case, then I'm not going to use them
I'll rather use Sharenet app for price viewing and phone my broker to sell or buy.
 
Lager said:
If that's the case, then I'm not going to use them
I'll rather use Sharenet app for price viewing and phone my broker to sell or buy.
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If you have a broker, you have access to pricing. Your brokerage account gives you this access. Not sure why you're using someone else's data for this...
 
DJ... said:
If you have a broker, you have access to pricing. Your brokerage account gives you this access. Not sure why you're using someone else's data for this...
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Sharenet is accurate enough and it's in my hands...
 
Lager said:
If that's the case, then I'm not going to use them
I'll rather use Sharenet app for price viewing and phone my broker to sell or buy.
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This reminds me a bit of forum member Oopsie's little dalliance with a forex broker overseas. The market moved in his favour but when he wanted to sell a 'system fault' would occur and prevent him. He lost hundreds of thousands of rands if I recall.
 
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