How many of you play stocks?

vbimport

#1

I’ve been thinking about doing so. European and Asian markets are too crappy now (even the banking sectors are in a decline) - which means I will be going for US markets instead. Does anyone have any advice for someone who is still tentatively looking into investing in the US from the UK?

Obviously I won’t start buying so soon, I am studying the portfolios and histories of certain companies and sectors which I am interested in, and will only participate when I feel I have learnt enough. Also, I’ve capped how much I will invest in the stock market, for my own fiscal safety.

Also, can any Americans here recommend a good source of news within the US? I usually read CNN but the news from that website has been somewhat digested for an international audience. I need more sources, especially of an American-centric nature.


#2

I thought of doing so once, but as this is quite time consuming, and quite a high risk for a (relative) poor student, I’m not doing so. In the future, I may want to spend money on some obligations, as the risk isn’t that big.

An uncle of mine has been playing around with his savings for a couple of years know and he gained quite some money with it. Okay, he lost some as well, but after all his balance was still positive.


#3

Dont play the market

Bet with the spread betting firms on the stocks performance

There is NO TAX on bets in the UK but Capital gains Tax applies to stock profits!!


#4

Originally posted by The-poacher
[B]Dont play the market

Bet with the spread betting firms on the stocks performance

There is NO TAX on bets in the UK but Capital gains Tax applies to stock profits!! [/B]

Interesting, I didn’t know about that. Do the stock profits where the Capital Gains Tax applies go to all forms of stock profits (i.e. domestic & foreign) or just domestic? I would imagine it would be hard for them to keep track of foreign transactions. How does CGT apply to profits, is it a banded system like Council Tax or a flat rate?

Hypothetically speaking, suppose I transfer some money to a US bank account. All share transactions at the NYSE which I subsequently do use that account; all profits and withdrawals go there and are kept there. Unless I bring the money back here, it shouldn’t be subject to CGT, right?

Any contact I make with a stock broker in the US would be brief, just to tell them to buy/sell. I can monitor, almost in real time, the market ups and downs via the internet. As far as most people are concerned (maybe need to drop the Brit accent ;)), I am an American with an American account investing in the NYSE listed companies.

Just basically pointing out how difficult it would be to tax based on the capital gains tax and whether, therefore, it would not apply to foreign stock profits. There seems to be little point in making a law if it will prove difficult, if not impossible, to enforce. Is not paying CGT for foreign stock profits against the law anyway? Do you know where I can read up on the clauses of CGT?


#5

but CGT has a threshhold of a certain amount & then amounts above that per year are liable (no idea what the rate is)

If U moved money to USA U would probably be liable to tax there (if not liable here)

With spread betting U can bet on single shares / groups of shares / Financial Times top 100 etc & U can bet whether they go up or down

Mind U I dont indulge my betting is limited to the horses & sometimes other sports.


#6

I hate the problem with stocks that they can go down. You end up with less money than you started with. What sort of investment is that?
I would prefer a no-effort, no-risk savings account any day.

If you want to increase your money, surely you should invest in property?

The only people who make money from the stock market are hardcores who do it for a living. Small time investors are like people who log onto a multiplayer game once a week and get annoyed because they get fragged endlessly by hardcore characters played by 12 year olds.


#7

If U think they will go down thats what U bet;)


#8

Originally posted by DryBaboon
[B]I hate the problem with stocks that they can go down. You end up with less money than you started with. What sort of investment is that?
I would prefer a no-effort, no-risk savings account any day.

If you want to increase your money, surely you should invest in property?

The only people who make money from the stock market are hardcores who do it for a living. Small time investors are like people who log onto a multiplayer game once a week and get annoyed because they get fragged endlessly by hardcore characters played by 12 year olds. [/B]

Stocks are better than a no-effort, no-risk savings account in terms of potential earnings (or losses). It goes without saying that risk is inversely proportional to what you stand to gain.

Property markets are not worth entering to now in the UK. Prices have been overrated and at the level they are at, they can only fall…which is what they are doing.