My money is gone.

I wouldn't invest in anything right now. Hold on to your money.

When did you give give all your money to the broker? At the same time the markets were all crashing down??? I really hope not!!!
 
Yep the stock market requires years of experience and understanding the market patterns, knowing when to sell and buy requires a good few years. This crash has affected a lot of noobs and they are now left disillusioned.

Your best bet is to hope that the markets your broker chose will climb again.
 
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This sounds like just a paper loss. In other words if you just leave the investment, it has to eventually recover again (all bear markets are followed by bull market and vice versa). Some shares, like Anglos, have lost more than 60% of their value over the past few months.

But do you know what you're getting into with a managed share account? Share investments are long-term investments. You should be someone who can sit through a market crash like we've just had and don't need the money for emergencies. Even if it takes your portfolio 5 years or more to recover.
 
Barefoot Billionaire said:
PS: your broker doesn't sound like someone who can explain stuff properly.
Click to expand...

My years of client-facing knowledge has proven to me that marco probably lost his top, yelled at the poor broker and didn't want to listen to reason and promptly threw down the receiver on the phone.

I'm pretty sure the broker could explain exactly what happened, but with his loss of money, clients get disgruntled and aggro and for some reason don't want to just listen and understand + comprehend.

Funny beast us humans...
 
AcidRaZor said:
My years of client-facing knowledge has proven to me that marco probably lost his top, yelled at the poor broker and didn't want to listen to reason and promptly threw down the receiver on the phone.

I'm pretty sure the broker could explain exactly what happened, but with his loss of money, clients get disgruntled and aggro and for some reason don't want to just listen and understand + comprehend.

Funny beast us humans...
Click to expand...

I.E We don't want to admit to our stupidity...
 
Sorry, that was tongue in cheek.
I am with one of the best brokerage firms in SA.
Had all money in equities. Some in small cap equities that took the hardest blow.
Lost BIG bucks here. Could have used the lost money for 3 world cruises. Been skimping and saving to emigrate to the UK at the end of this year. That dream turned out to be only a dream.
 
marco said:
Sorry, that was tongue in cheek.
I am with one of the best brokerage firms in SA.
Had all money in equities. Some in small cap equities that took the hardest blow.
Lost BIG bucks here. Could have used the lost money for 3 world cruises. Been skimping and saving to emigrate to the UK at the end of this year. That dream turned out to be only a dream.
Click to expand...

Yea well just wait for the market to bounce back over the next few years and remember for next time not to keep your entire savings in stocks. You need to diversify into physical assets like property and have hard cash on hand as well for a rainy day in case the **** hits the fan
 
In for a penny in for a pound. Tomorrow morning I am going to switch what I have left to gold stocks only and take a gamble.
If gold goes from $900 to $1500 which I suspect it will, then I will retire.

How's that for diversification or is it defication?
 
marco said:
In for a penny in for a pound. Tomorrow morning I am going to switch what I have left to gold stocks only and take a gamble.
If gold goes from $900 to $1500 which I suspect it will, then I will retire.

How's that for diversification or is it defication?
Click to expand...

Gold price is definitely increasing, but subject to huge fluctuations in price --> Monday@$900+ --> Wednesday down to +/- $835 --> Friday@900+ again.
 
Money can be made on the downside of equities too marco, no need to go balls to the wall in commodities which are likely to come under huge strain as well.

What time frame do you expect gold to hit R1500?

I certainly hope this isnt a leveraged position you are taking and I also hope you are not gearing the trades to ridiculous levels to achieve this. Be wary, this isnt the time for the average joe investor to be looking for retirement profits, let alone placing significant capital back into the market. If you don't have enough to move the market, and are not a day trader, then this isnt the time to be re-investing - not just yet...
 
HavocXphere said:
Remember, you still carry the risk in the investment he makes. He is buying on your behalf.

I strongly suspect that you are out of luck. Please don't make any wild accusations to him about him taking it without being 100% sure of your facts.
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Not sure what sort of investing we are talking about here but just to point out the FAIS (financial advisors and intermediaries services) Act. It gives clients a lot more protection than they have previously been afforded when it comes to financial advice. If covered by the Act, the broker needs to have made various disclosures to you. If these were not made or he invested against your chosen investment mandate the OP may have recourse.
 
gregmcc said:
I wouldn't invest in anything right now. Hold on to your money.

When did you give give all your money to the broker? At the same time the markets were all crashing down??? I really hope not!!!
Click to expand...

I am not going to get into this in this thread again as it was covered extensively on another investment one but there are two things that make people fail when investing. Fear and greed. You are falling into the trap of fear. Now is probably the best time to look at investing... bargains are aplenty! Yes, we could still move down but your suggestion seems to imply waiting for the markets to recover, miss the boat, and then invest! WRONG, WRONG, WRONG!

Now please remember that any investment advice would need to be specifically tailored for the individual so do not go and throw everything you own onto the markets and then come back to sue me if it fails.
 
LancelotSA said:
I am not going to get into this in this thread again as it was covered extensively on another investment one but there are two things that make people fail when investing. Fear and greed. You are falling into the trap of fear. Now is probably the best time to look at investing... bargains are aplenty! Yes, we could still move down but your suggestion seems to imply waiting for the markets to recover, miss the boat, and then invest! WRONG, WRONG, WRONG!

Now please remember that any investment advice would need to be specifically tailored for the individual so do not go and throw everything you own onto the markets and then come back to sue me if it fails.
Click to expand...

cool beans! thats what i thought. (but i dont know anything about money though)
lancelot, what do you think of investing money in the current economical climate into something like acsis? i saw my financial advisor last week and i want to start investing a substantial amount (substantial to me at least).
 
zeridine said:
cool beans! thats what i thought. (but i dont know anything about money though)
lancelot, what do you think of investing money in the current economical climate into something like acsis? i saw my financial advisor last week and i want to start investing a substantial amount (substantial to me at least).
Click to expand...

Just a quick peek seemed to show me that acsis is a financial planning company and not an asset manager. They should advise you where to invest and not actually manage your investment. They will probably redirect your funds an asset management company like Alan Gray, Investec, Coronation etc.

The main thing is to ensure your portfolio matches your risk profile and investment strategy. In answer to your question, saving money can never be a bad thing! Just be careful not to be driven by fear and greed. And also bear in mind that historical returns are in no way indicative of possible future returns, so don't be automatically fooled into chasing yesterday's top performers!
 
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