It’s been a few weeks since I updated you on progress of this service.
There’s not really been an awful lot to report. We have bought a few more players and added extra shares to some we already owned. We do have some shares in players up for sale, but no outriht sales have been made yet, I did manage to sell a few shares in one player that we were advised to lower our holding.
We are currently over the amount originally allocated as a starting bank. It;s not right to call this a “blown” bank, as we hold shares that also exceed the starting amount, so I’m willing to carry on for now.
This is around the timeframe we would normally be looking to give a Approved/Failed verdict but I don’t think that’s possible yet, due to all the weirdness going on with the pandemic and the nature of this serice, it’s going to need longer than our usual 3 months.
As things stand, I’ve spent £2368.47 buying shares, my portfolio is worth £2323.11, I’ve been paid £47.69 in dividends, and sold £23 of shares. So I reckon I’m about £25 up on paper, before subscriptions and commission charges.
I think that once the new seasons get going, and Football Index’s new order matching systems fully kick in I’ll be ready to give a proper verdict, but until then, I think I’ll keep it going and see how we get on selling some of our players and hopefully taking some profit to cover the subs.
Hi Liam, if it was me mate, I’d get out now, even if it means a small loss after subscriptions. I know your hoping things will improve when the new season starts, don’t we all. It’ll be a long time before things are anywhere near back to normal. What makes me think this way?….well….I own shares in an english premier league club. Not a player, the club. Surprising what you find out, good luck in what ever you decide.
Hi Gerry,
Must admit, I’m not overly confident on this one. To be fair to the service, Football Index are in the process of introducing this NASDAQ based matching book system that should help us sell a few of our players.
I do def take your point that things are certainly going to take a good while to get back on track and I think I’m going to be reducing my actual exposure but retaining enough of an interest that I can get and record accurate figures for the dividend payouts.
Thanks very much for your interest and your comment. I used to own a couple of shares in a football club but they got compulsorily purchased by a man who refused to speak to us.
I wish you the best of luck for the new season.
Liam
Hi Liam,
Yep I think it’s a good idea to reduce your exposure. Compulsorily purchased eh? Well I’m sure it wasn’t the club I have shares in. I won’t name the club, but when you sat round the table with the then manager….you listened!….. Even though he had a Scottish accent…. :-). That guy should have been the England manager years ago, might have won the world cup in the past 50 odd years eh? Hope you get something out of this, good luck..
Thanks, Gerry.
Appreciate the comments.