What kind of rate do they pay nowadays. I missed out why UKOG jumped, I thought they had already discovered oil a while back.
How about PMO, they had an oil discovery recently but its in Mexico and the company already has debt which makes it more complicated but anyhow its probably good enough news to be optimistic right.
Can anyone recommend any reputable forecasters for GBP/USD currency pair? I'm particularly interested in the 3-6 month 2017 outlook.
I'm reputable right, right?
Bullish sterling for the moment, since we are all biased sterling it influences the price of everything else so its always on the radar. We are in that goldfish bowl. USD is always dollar the world not USA as much and so far this year the index is weaker which allows for sterling and Euro some rise recently, some say this forms a trend.
I've posted forecasters before, you have to have your own personal gauge really, ideally anyhow. You can message me and I'll send you any forex videos I see about sterling in the next few days. If I'm correct and its on the move then these talking heads should pop up with their opinion, you could even find them on US finance shows since Sterling is like a 12% reserve currency (probably sub 10 nowadays) it has interest world wide.
Also, any good resources for beginners? I feel very out of my depth at the moment and need to make sure I make the right decision with this money, I've already booked to talk to a financial advisor but prefer to do my own research as well!
Yep always do your own research so you have contrast and a better understanding to advice given I think is best.
The advice on dollars is reasonable. I dont like dollars personally, my bias is to the old dollar standard and the old sterling standard which is a fix to gold. There is no modern currency which holds value relative to reserves in that traditional way anymore. UK sold its gold, Mr. Brown says he got Euros with it so thats ok except EURO is issuing QE and reliant on politics for value I think. Good trade would not allow for the situation for Greece to continue, but Euro relies on that to remain for political value.
Modern currency float based on trade in theory but actually its heavily based on politics, I dont like Dollar because the value is reliant on its overseas holders not the USA itself.
USA has a giant trade deficit, in theory its a problem and a reason why the currency loses a lot of value. Dollar is fine when China, Japan and even Russia support its value but its in trouble when its just USA supporting its value. But then your contrast here is sterling, again weak currency.
The first job of investment would be not to lose value, I think thats a perfectly conventional approach. I would recommend you read about LTCM which was the last world event in finance melt downs before Lehmans except it never really happened. They bailed that bank out so its not famous and we had no 'crisis'. To understand why modern value moves out of fear I think that would be one starting point even a normal beginner could go from.
So you could google that name, Long term capital management, you get a list of people who ran it for four years only before it blew up. Nobel prize winners no less and probably lots of books.
That kind of failure is the biggest threat to value ongoing. [Some will say you are fine in plain cash, I dont agree and with that historical context]
The principal negotiator for LTCM was general counsel
James G. Rickards
Thats the main guy I know of who was also invested in LTCM has written about why LTCM was so clever but also so wrong, why it failed. Why its the new normal to bailout and why 2008 like events keep happening. He has worked with the Federal reserve, he has a mp3 'book' on audible which is free I think (as a new customer).
Thats macroeconomics if you meant purely the mechanics of dealing theres Robbie Burns who was a reporter who became a self made millionaire from good instincts I would describe it but also he tries to give reasoning and good practise in his books. He also writes columns, Rickards also does a lot of media.
Nicolas Taleb is another interesting person, imo anyway and I think their descriptions fit.
You could also just read finance pages of newspapers. When I first read them they were full of strange fractions and company reports undiluted but nowadays everything is readable and they usually give tips for the ordinary investor. I'm not saying do anything with those tips but they explain the company value vs share price at least some and its very brief text to start off with.
https://www.theglobeandmail.com/glo...p-the-biggest-metals-markets/article35875336/
