OpinionNow would be a good time to buy shares in BP
      – George, 2010-06-07 at 07:42:58   (10 comments)

On 2010-06-07 at 10:39:50, Lee J Haywood wrote...
I had thought that when Marconi shares were down to a very low price (about 12p each, I think). However, it turned out that even when the share price went back up the shares were split and became equally worthless. Risking your money on shares is foolish, I think. If you have savings you don't need immediate access to, use Zopa - they give me at least 8% interest.
On 2010-06-07 at 17:22:58, Thelevellers wrote...
Hmmm, looking into Zopa now, as I could do with a cash boost (first apprentices don't get enough to live alone on...). I love the theory, especially the interest going to people not banks. Though of course the people could well be drug dealers for all I know :P BTT: I know nothing of shares I'm afraid, but the idea did make me smile :)
On 2010-06-07 at 19:10:35, George wrote...
@Lee J Haywood: Yeah true about Marconi, and investing in shares is always a gamble. But by many measurements, BP are the UK's largest company, and despite what's going on at the moment, and the fact that they're shouldering the blame, their business is (I think) sound. Ethically, I've got no problem buying BP shares because as a consumer, let alone as a driver, I'm already heavily reliant on petroleum, and all this general bashing of big oil companies seems to me a tad hypocritical. I actually believe the hype by some oil companies such as Shell and BP that they are genuinely looking to be involved in alternatives to oil. Apart from anything else, surely that's what their shareholders should want and expect.
On 2010-06-07 at 21:41:40, Lee J Haywood wrote...
@George: You have to remember to account for how many shares BP have already sold, not just their current value. They can literally invent shares out of thin air - it's not the same as money, and shares don't hold value in the same way. @Thelevellers: Money you lend with Zopa is out for either 36 months or 60 months, which means you don't have access to it. Capital and interest are paid back continually in tiny amounts, but in order to get interest on that money you normally have auto-relend switched on - which means you have even less access to your money, because it's constantly loaned-out.
On 2010-06-11 at 08:15:29, Thelevellers wrote...
@Lee J Haywood: I was actually thinking of borrowing(!), but was refused at the automatic credit check - dunno why as I've never missed a payment, but meh. Possibly better in the long run, as long as I can survive without breaking current limits until my pay rise...
On 2010-06-12 at 03:00:11, BorgClown wrote...
The Zopa bit was interesting. A few days back I was thinking that social interaction will pervade everything, as it is a cheap way of outsourcing. It would be awesome if nations were crowdsourced instead of represented.
On 2010-06-12 at 09:45:05, Lee J Haywood wrote...
@Thelevellers: They have different markets for different levels of risk, so I'd expect them to at least let you borrow something even if it were at a high rate. Perhaps you should have a credit check to find out what the problem is.
On 2010-06-13 at 09:27:07, Thelevellers wrote...
@Lee J Haywood: Yeah, I thought that too, tried both markets, and checked my credit report, no luck :( I hear you get 'black marks' from applying for a loan and having your record checked (which seems retarded), so that might have some bearing, though I've only applied for one loan before (I was refused though,which is probably related. I wouldn't have applied had I known it would be marked down like that!) I think it might be related to my current income - not high enough to pay the loan back, but that changes lots by the time I'm due to pay it all back, so I tried the market option to explain myself a bit. You get automatically credit checked still though (makes sense really), so refused again. Which, incidentally, I believe is now a further two 'black marks' on my record! *facepalm* There you go, looks like I'm stuck for now, at least I can still pay the rent :)
On 2010-06-13 at 18:57:59, Lee J Haywood wrote...
@Thelevellers: Hmm, that does seem to defeat the point of having the different markets and credit ratings in the first place. Credit ratings don't seem very well designed - people you happen to live with can be affected by your credit rating, with can be rather unfair.
On 2010-06-13 at 19:54:15, Thelevellers wrote...
Yeah, I have actually just been looking at my report (it's free, as long as I remember to cancel my membership before the end of the month :P) and it's not showing ANY searches in the last 3 months, and they clarify that it is only if there are lots of searches in a short time it looks bad, so I should be fine by that... I must be something silly like me being at my address for only 10 months... :S Huh, or maybe my landlady/house-mate has bad credit and is dragging me down :P