Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Honest reporting on shorter-term trading activity and ideas
GoSeigen
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

will89,

The idea of this board was to post all trades in real time as a challenge and exercise in trying to understand how to trade successfully. If you look at my thread you will see all my trades posted as and when they happened.

Would you be willing to be equally transparent and post the trades which have brought you from the claimed asset value of £100,000 to more than £1m?

Another aspect of the challenge: the original task was to generate £1m from starting capital of £3000. That is a gain of 333x. You started with 100,000 so if you've reached a million you have grown your assets 10x. The next challenge is to multiply that total by 33. Are you willing to document the rest of your progress?

[If you agree to the above I think it would be considered acceptable to continue the project with a part of your capital: I suggest a sum of £30,000, which would take you to a million after a further 33x growth.]

GS

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

GoSeigen wrote:will89,

The idea of this board was to post all trades in real time as a challenge and exercise in trying to understand how to trade successfully. If you look at my thread you will see all my trades posted as and when they happened.

Would you be willing to be equally transparent and post the trades which have brought you from the claimed asset value of £100,000 to more than £1m?

Another aspect of the challenge: the original task was to generate £1m from starting capital of £3000. That is a gain of 333x. You started with 100,000 so if you've reached a million you have grown your assets 10x. The next challenge is to multiply that total by 33. Are you willing to document the rest of your progress?

[If you agree to the above I think it would be considered acceptable to continue the project with a part of your capital: I suggest a sum of £30,000, which would take you to a million after a further 33x growth.]

I really don’t understand your constant insistence on attacking everything I say. The way many people here and on TMF treated this board was as a form of ‘diary’ of my investing experience. Your £3000 figure is something I don’t care about, I didn’t start with £100k, I started with £0, as I’m sure most people did.

I really can’t be bothered anymore, sadly you have single handedly put me off posting, so I don’t plan to again. Well done.

Bubblesofearth
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

I really can’t be bothered anymore, sadly you have single handedly put me off posting, so I don’t plan to again. Well done.

Will89,

Why don't you just ignore him?

I know almost nothing about cryptocurrencies and have found your posts interesting and informative. Seems a shame to throw the toys out of the pram on the basis of one persons comments.

BoE

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Bubblesofearth wrote:
I really can’t be bothered anymore, sadly you have single handedly put me off posting, so I don’t plan to again. Well done.

Will89,

Why don't you just ignore him?

Agreed, after sleeping on it I've come to the same conclusion.

The point above about 'posting all my trades' etc is completely irrelevant. I've explained that I bought ETH at \$7 (although haven't outlined how much), and the price is now \$740. It doesn't take a genius to work out that turns £10k into £1m. For my ISA holdings, I have detailed every trade in the thread.

OLTB
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Bubblesofearth wrote:
I really can’t be bothered anymore, sadly you have single handedly put me off posting, so I don’t plan to again. Well done.

Will89,

Why don't you just ignore him?

I know almost nothing about cryptocurrencies and have found your posts interesting and informative. Seems a shame to throw the toys out of the pram on the basis of one persons comments.

BoE

I agree - I wished I'd put a bit into ETH last year! I also find all the comments about cryptocurrencies interesting, engaging and something to ponder on (only for a little bit of cash though!). Please do keep reporting as I know nothing of this subject and am happy to be educated!

Cheers, OLTB.

RossP
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Will89,

Can I just second the comment please about how interesting and useful I've found your posts. I appreciate the time taken and the openness you have shown to clearly explain complex concepts.

I will do my own research on some of the crypto currencies you have mentioned but I appreciate the insight you have shared. Now that I have taken out my initial investment, I am planning to hold my crypto investments (roughly 0.5BTC and 5 Ether) for the long term.
In terms of diversifying my crypto currency exposure, I see that as a no brainer but I guess the key decision there is whether I should invest new funds into other currencies or sell parts of my BTC/ETH as their price increases and use those funds to buy others; that however is probably more of a discussion with my wife than anything else to figure out what level of our overall net worth we are happy to have in what is clearly a risky asset class (if you can consider it that).

RossP

GoSeigen
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

will89 wrote:
GoSeigen wrote:will89,

[...]

Would you be willing to be equally transparent and post the trades which have brought you from the claimed asset value of £100,000 to more than £1m?

[...]

I really don’t understand your constant insistence on attacking everything I say. The way many people here and on TMF treated this board was as a form of ‘diary’ of my investing experience. Your £3000 figure is something I don’t care about, I didn’t start with £100k, I started with £0, as I’m sure most people did.

I really can’t be bothered anymore, sadly you have single handedly put me off posting, so I don’t plan to again. Well done.

I think there is just some misunderstanding here. I read this:

At the start of this year my total investment portfolio (stocks & crypto) was around 10% of the way to this board's largely arbitrary 'target'.

and assumed that 10% of the way to the target meant you had 10% of £1m. Clearly I misunderstood. The actual figure doesn't matter. What I and perhaps others are interested in is the process of achieving the goal of making £1m from £3000 [yes, this was the original challenge as published in the Times and on TMF].

So personally I'd appreciate seeing your trades in bitcoin and other crypto by which you have achieved this goal.

GS

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

GoSeigen wrote:
So personally I'd appreciate seeing your trades in bitcoin and other crypto by which you have achieved this goal.

GS

Hi GS,

Probably some confusing wording on my part as well. I think the value of this class is going to rise over the coming years, so I'm not really happy sharing my portfolio or trades on a public forum. 1 ETH might be £500 now, but there's nothing to say in 10 years it's not £500,000 and this could make people targets for hacking/attack etc. There are people who have made millions from £50, sadly I am nowhere near one of those, I'm a tiny holder in reality.

I bought a very small amount of ETH between last October and this March, so my average cost is \$55. Price now is \$731, so I'm roughly 12x up. That said, I did make some very small purchases at around \$7, so those are now up 100x. This was the basis of my previous 'to a million' reference. Sorry if that was confusing, on rereading I can see how it quite clearly was, sadly I don't have that Million... yet!

I think in situations relating to assets online, security is an asset in itself, whether your holdings are £10 or £10m, so I'm not willing to share all my trades etc.

GoSeigen
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

will89 wrote:
I think in situations relating to assets online, security is an asset in itself, whether your holdings are £10 or £10m, so I'm not willing to share all my trades etc.

Okay fair enough, one can only ask... I guess I could have the same problem if I succeed with my portfolio! Though there are plenty of posters here who talk about trades in the millions...

GS

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

GoSeigen wrote:
Okay fair enough, one can only ask... I guess I could have the same problem if I succeed with my portfolio! Though there are plenty of posters here who talk about trades in the millions...

GS

I actually think this is one of the main issues with crypto. There's no FSCS compensation etc, but more than that, you're directly responsible for your keys. I'm staggered by how open 'early adopters' are in the press, on forums etc about their holdings. If my holdings were substantial, which sadly they aren't (!), I think this would really scare me.

The '\$5 wrench tactic' often quoted in security circles is a real issue. You can 'safely' store your asset to prevent it relatively well from hacking etc (put it in 'cold storage' and stick it in a safety deposit box etc), but if you're a big holder and reveal too many personal details then there's nothing to stop a bad guy with a \$5 wrench succeeding in getting your funds, finger by finger... Luckily my holdings are insignificant enough that I can still sleep at night! I still think it's wise not to reveal too much though, you never know who's going to talk to who, what sites with your email address are going to be compromised etc.

There must be more to this story, the guy clearly revealed too much and then decided to meet someone he must have trusted, but here's an example from today:
https://www.cryptocoinsnews.com/man-fou ... -in-ether/

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Hello! It's been a while, but I'm back and seeking advice!

I've got some funds sitting in our ISAs that I'm eager to get invested. We only invest in ITs and Bonds in our ISAs, crypto now provides me with the excitement that I used to get from sniffing out small cap gems...

Does anyone have any comments on our current portfolio and how we could top-up, consolidate, add etc? All suggestions are very welcome.

Our current mix is: (Apologies for poor formatting)

UK
CTY City Of London Investment Trust 5.2%
SLET Standard Life Equity Income Trust 3.4%
MRCH The Merchants Trust 3.3%
FGT Finsbury Growth & Income 2.9%
OIG Oryx International Growth Fund 1.9%
HSL Henderson Smaller Companies 2%

GLOBAL
SMT Scottish Mortgage Investment Trust 4%
MNKS Monks Investment Trust 4%
TEM Templeton Emerging Markets 2.9%
EAT European Assets Trust 2.9%
NAIT North American Income Trust 3%
HFEL Henderson Far East Income 2.7%
EWI Edinburgh Worldwide Investment Trust 4.2%
FCS F&C Global Smaller Companies 1.9%
JPS JPMorgan Japan Smaller Companies 2.2%

THEMATIC
HRI Herald Investment Trust 2.9%
BIOG The Biotech Growth Trust 2.6%
SLPE Standard Life Euro Private Equity 2.8%
CYN City Natural Resources 1.9%

PROPERTY
SLI Standard Life Property Income Trust 3.9%
TRY TR Property Investment Trust 2%
WHR Warehouse REIT 2.5%

BONDS
IPE Invesco Perpetual Enhanced Income 2.9%
NCYF New City High Yield 4.6%

CASH - 27.4%

YeeWo
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Perhaps a way to convert all the Crypto into Cash should be Priority No. 1!(??).

BrummieDave
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Just reread your original post from 14 months ago and there was no mention of any cash unless I missed it. With at least ten years until you reach 40, and many more years after that for the investments to yield income, I'm surprised that you have that much outside the market (25%). Is this due to nervousness about current levels, or an attempt to time the market perhaps?

One suggestion, and a simple one, is to follow the same mandate and portfolio where possible (ie subject to ISA limits) and invest in 'more of the same' and thus reduce the cash pile. Or is the cash invested somewhere that is contributing to your wealth somehow?

All this is meant to sound constructive, within the context of a long running and very interesting thread. Well done for posting it.

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

BrummieDave wrote:Just reread your original post from 14 months ago and there was no mention of any cash unless I missed it. With at least ten years until you reach 40, and many more years after that for the investments to yield income, I'm surprised that you have that much outside the market (25%). Is this due to nervousness about current levels, or an attempt to time the market perhaps?

One suggestion, and a simple one, is to follow the same mandate and portfolio where possible (ie subject to ISA limits) and invest in 'more of the same' and thus reduce the cash pile. Or is the cash invested somewhere that is contributing to your wealth somehow?

All this is meant to sound constructive, within the context of a long running and very interesting thread. Well done for posting it.

Sorry, adding the cash % was probably counter-intuitive. This is simply a chunk of cash that has been added to our ISA accounts in the last couple of days to use up this year's allowance, so is available to invest immediately. I'm happy to invest it all right away.

As it happens, and with reference to the question above, the cash came from some crypto sales. I've been selling regularly all the way up and this sale ended up being moved into our ISAs. I've had no problem at all cashing out via GDAX into my bank account.

DiamondEcho
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

My only observation at this point is that you seem to have a highly complex (to me) portfolio. So many holdings, and all non-cash elements are in funds which will have some common holdings between them too. So I suspect there is an element of unnecessary duplication, and the number of holdings must take quite some administration to keep on top of.
If it were me I'd trim back the holdings, and concentrate on fewer core holdings, whilst keeping some reasonable diversification within sectors.
Just my 2c

ModernMicawber
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

I'm not a regular on this thread, but I too had a small profit from "crypto" last year.

What I have mostly done is dispose of the BTC and ETH I was holding and replace them with shares in the eyewateringly expensive XBT crypto ETNs, held inside my SIPP.

The original motivation for this was that holding this stuff in the SIPP is both \$5-wrench proof and "hit by a bus" proof. I've since decided - particularly after December's excitement - to exclude these holdings from my main asset allocation spreadsheet and just take a bit of profit "as and when". I did manage a sale on the \$20K day, more by luck than judgment.

I think there will be some more ETFs on the way, almost certainly cheaper than the ones I'm holding.

Pipsmum
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Thanks for all the info on crypto here. I would appreciate some enlightenment if you might assist. It is within my investments so still on topic.

I thought I was buying my teenage son a tiny bit of a type of bitcoin as an investment for him. It was a decision made with a genuine 'risk assessment' taken with the full knowledge it could vanish into thin air at any moment due to the lack of my/our full understanding of the matter. The intention was mostly just for true larks, so that my son could own some real cryptocurrency, but with the partial hope that it may be early enough in the 'new way' to indeed be useful for him later.

I bought two of the 'things/units/whatever they ares' using HL as my normal platform because I trust their decision on whom they allow us to purchase from and I don't trust my own within the wild internet. I bought one for him and one for me with the intention that if they should rise in value, then one might cover the both so I might retrieve my investment and let the single one run free as a bit of genuine bubble madness.

This is what I have bought two units of yesterday.

XBT Provider AB Ethereum Tracker EUR (ETH.XBTE)

I think I haven't actually bought any actual cryptocurrency though. I think I have just bought a mirror. It doesn't matter to me, but if I have, then he cannot say he has any 'real' cryptocurrency can he?

If I haven't bought a 'real' bit if real is actually 'real' anyway. Where is the safest place to buy a 'bit' of real Ethereum or is this as near to 'real' as it gets? Excuse the confusion but it matters for this particular birthday present purpose.

BrummieDave
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Whist someone may cry foul and say this is off-topic, I'm assuming you've considered the potential impact on young Pip and his attitude to investing that various outcomes could create; the investment goes through the roof, he puts his feet up and thinks that's easy money, I'll make some more please, or it bombs and he's put off mainstream get rich slow investing forever. A bit like buying someone a lottery ticket at age 18, it could turn them into a lazy millionaire or a gambling addict.

I'm sure neither will happen, and it's just a bit of fun. But with my kids and their attitude to money and more importantly investing, a recent Luke Johnson article summed it up for me:

Beware the havoc that unearned riches can cause; so often, they destroy the work ethic in the next generation. The striving is all; free money is a terrible narcotic that annihilates ambition and imbues those who receive it with destructive values.

It's a bit over the top in its language, but that's probably why I made a note of it. Good luck with your Crypto!

Pipsmum
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

I'd be inclined to agree if the middle pip was a lazy sort, but he isn't and is careful. I've trained him in my Yorkshire ways and we don't chuck it away as a norm. This was however, a very deliberate and considered gambling sort of 'chuck' and Ethereum regarded as an unusually shiny bauble of transient diaphanous matter. The original investment will be retrieved as soon as, and 'if' it gets even as far as that.

I ended up buying them one each for their future birthdays this year as a semi serious joke, and we'll see if they're worth 20p or sweet Fanny Adams on their actual birthday. So 3 for them, and one for me, with a spare to sell to recoup. If I get this all wrong, then it was a deliberate muck about and I shall have to sell something of my own to pay myself back and buy a 'proper' share.

I'm not sure that it is really so very different from buying 'sensible' shares because my understanding of the market is limited anyway. However, in the case of cryptocurrency, the question might be 'would you regret not doing something you knew about'. In my case, yes. I'd rather try and fail, but not with too much capital at risk. My oldest pip wanted me to get him a bitcoin when it was peanuts compared, many moons ago and I wouldn't do it. So I knew then too.

On topic, it is just another growth share with the others and we'll just see. I'm not a sensible 25 year old investing wisely for years. I'm an old trout who is a bit late to the game and doing what I can. If a crypto coin either lets me catch up or merely catches me out. So be it.

It's all quite fascinating and feels a bit like the Emperors new clothes... but I'm in on the joke for a bit.

BrummieDave
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Good, and it looks like you took my reply in the well natured spirit it was intended.

My only direct experience, and I think this keeps the post 'on topic' as it would have moved me a little further to millionaire status (!), was at a presentation at work 4 years ago which was intended to introduce Bitcoin to clients when the speaker ended his talk by offering anyone who wanted one, a Bitcoin! As nobody felt confident enough to stand up for fear of being caught out by any lack of understanding, even after the talk, we all muttered and looked at our shoes!

Good luck with your crpto Pipsmum, the little pips, and GoSeigen!