It’s been a torrid few weeks for this service and the Index itself.
The introduction of Sale Offers didn’t go smoothly and things have been a little haywire ever since. The crash I covered in the last write up hasn’t picked up any further.
We were advised to have a bit of a clear out this week, with players we have been struggling to move on sold via the Sell Now button, which will almost certainly guarantee a loss on that particular trade.
We also adjusted our holdings in several other players, both upward and downward, and then we bought a raft of small stakes in new players to try and grab those in-play dividends.
Going by what the service are saying, we are waiting for Football Index to refine the Offers process, add in market depth columns (like the ones you see on a Betfair market) and for trader confidence to return.
As things stand, I’m fairly sure this downturn in fortunes is due to problems with Football Index mishandling the change to Bid/Offer, rather than this service going off the rails. But the bottom line is that the bottom line isn’t looking to good at the moment.
I’m glad I kept this going rather than calling a halt at our usual cutoff. I’m going to carry on a while longer before giving my final verdict.
Just over a month ago we were well over £200 up, we’re now £125 down and that’s before subscription payments are accounted for.
I’m reluctant to just write this off as a fail as I think there’s something there for us, it’s just that we’re testing it at a time of massive change in the world as well as changes on the Index.
To the figures, the portfolio has cost £3,227 to buy, we’ve been paid £162 in dividends, made £435 in sales, and the current paper value of our shares is £2,505
I’ll update again in a few weeks time