Credit Cruch, Crunch Credit...

[Doom]

cant believe alan sugar bought 4% of woolworthsthought they were finish - 3p per share too!

[kurious]

i see the headlines 'CREDIT CRUNCH HITS OUR OWN ACCOUNTS NOW'and i think to myself 'if i have 0 in my bank account, and the credit crunch is licking THIS hard, then OMG the new total of my account will be.....0'*leaves thread and doesnt come bk till i need a mortgage*

[Guest Flava Dave]

cant believe alan sugar bought 4% of woolworthsthought they were finish - 3p per share too!

bt the other one is dwn 10% geei aint knockin the hustlejus sayinrisky for a long term investment

[Superstition]

Yes, the credit crunch has spanked me hard already. Coming out of LSE, I would've hoped to have landed a graduate job at a bank, but now hiring is about as slow as continental drift, and I'm competing with laid-off workers with years of experience from elsewhere.And Doom, you're a brave man. The part-nationalisations mean that the government is going to cherry-pick preferential shares and pibs, diluting existing investors' stakes, and depending on the extent of take-up of the scheme, there's talk of cuts/freezes on dividends etc. Plus with house prices falling further and general economic malaise predicted to increase (IMF says recession in '09), there's going to be more unemployment, more defaults, more write-downs and more panic. You seem prepared to ride them for the long haul though, and it seems likely that the government won't let any more fail. I would've kept existing bank shares, but not rushed to buy any more. Easy for me to say though, I don't play the stock market

[Platinum50]

lol @ woolworth share price rite now 4.14pWill they survive the crunch? because if they do, this might be a good investment long term.

[Doom]

Yes, the credit crunch has spanked me hard already. Coming out of LSE, I would've hoped to have landed a graduate job at a bank, but now hiring is about as slow as continental drift, and I'm competing with laid-off workers with years of experience from elsewhere.And Doom, you're a brave man. The part-nationalisations mean that the government is going to cherry-pick preferential shares and pibs, diluting existing investors' stakes, and depending on the extent of take-up of the scheme, there's talk of cuts/freezes on dividends etc. Plus with house prices falling further and general economic malaise predicted to increase (IMF says recession in '09), there's going to be more unemployment, more defaults, more write-downs and more panic. You seem prepared to ride them for the long haul though, and it seems likely that the government won't let any more fail. I would've kept existing bank shares, but not rushed to buy any more. Easy for me to say though, I don't play the stock market

What did you study at lse? I did econ at UCL - wouldnt worry about landing a grad job, you'll be fine.What division you looking at in ibd?

[Superstition]

I did Government & Economics. Ideally I would've aimed for something juicy like derivatives trading, but the nature of my degree and the current climate makes me think I'd have a better shot at compliance or something similar. I haven't had any finance-related internships or work experience, so that counts against me as wellWhere do you work, if you don't mind me asking?

[Doom]

I did Government & Economics. Ideally I would've aimed for something juicy like derivatives trading, but the nature of my degree and the current climate makes me think I'd have a better shot at compliance or something similar. I haven't had any finance-related internships or work experience, so that counts against me as wellWhere do you work, if you don't mind me asking?

I use to work for UBS in risk management but got sacked 3 weeks ago. Internships are definitely the easiest way to land a full time grad job - think the conversion rate from interns to grads is 70-90% in some cases. I interned for Lehman Bros in my 2nd year but didnt get offered a full time positon But good on you for getting lse, its definitely a tier system with banks. Tier one is lse, oxbridge, tier two: ucl, warwick & imperial, then tier 3 is: manc, notting etc. Just keep on speculatively applying to banks, no experience will not count against per se: you as long as you have good e/c's and show a genuine interest in finance.

[VENOM]

I did Government & Economics. Ideally I would've aimed for something juicy like derivatives trading, but the nature of my degree and the current climate makes me think I'd have a better shot at compliance or something similar. I haven't had any finance-related internships or work experience, so that counts against me as wellWhere do you work, if you don't mind me asking?

you will never learn anything tangible about finance in a uni.thats wht the guy that advises me says anyway.he also agreed that banks are not the best type of investments atm and usually the people who invest in them on a large scale are big companies. thats why were seeing councils, the police and them lot losing money in the iceland bank thing. they invest in them bcos they are 'stable' so they give a decent amt of return but there are other more profitable markets. but as they are more stable they are less risky ....until now hedge funds dont invest heavily in banks.

[Who Knows? Who Cares?]

If you went LSE, it is impossible for you not to walk into a graduate job. Its like coming from Oxford or Cambridge.Go and see recruiters and try get a job in trade support or a temp job in Ops (£15 an hour). Its womans work really, emasculates you in the long-run. I did'nt go to a top Uni either.

[Doom]

If you went LSE, it is impossible for you not to walk into a graduate job. Its like coming from Oxford or Cambridge.Go and see recruiters and try get a job in trade support or a temp job in Ops (£15 an hour). Its womans work really, emasculates you in the long-run. I did'nt go to a top Uni either.

Surely someone who went to lse would have higher aspirations then doing ops i.e. excel slave work but i get your point.Where do you work if you don't mind?

[Who Knows? Who Cares?]

If you went LSE, it is impossible for you not to walk into a graduate job. Its like coming from Oxford or Cambridge.Go and see recruiters and try get a job in trade support or a temp job in Ops (£15 an hour). Its womans work really, emasculates you in the long-run. I did'nt go to a top Uni either.

Surely someone who went to lse would have higher aspirations then doing ops i.e. excel slave work but i get your point.Where do you work if you don't mind?

Not saying he should do it forever. If he wants to get some money, he should do Ops if he can't get a graduate job for now, at least he will be employed in an IB, get his foot in the door.I don't work in banking, not intersted either, though I am interested in Economics and Finance personally. I have done the above and really could'nt see myself doing it for the long run. That includes all feminine work.I work from home for a recruitment company, but I'm not a recruiter and I trade (gamble) aswell, using martingales.

[Numero001]

f*ck all the economists in here. Wish I knew how to benefit of this disaster but I'm not really into risks I can't get my own head around without having to rely about 90% of my knowledge on someone elses opinion. I think I'm just gonna go buy a car or do an ISA. Depends on which urge is bigger at the time.And nah credit crunch means f*ck all to me. When the recession comes what happens? Will everyday be like Christmas Sales? If so, man will just ISA some money until then. Put my hood on for when the rain comes and I'll be good

[Gunner]

Trying to fully understand it so i can take advantage of situations, this isn't bad for EVERYONE.

[Action Dan]

Best time to have some money under your bed tbh. THings will be CHEAP>

[Guest DN Braund]

Best time to have some money under your bed tbh. THings will be CHEAP>

apart from inflation kicking in and the exchange rates goin to poop

[Messy]

im getting made redundant on monday im actually excited expecting at least £18k which means i dont have to rush back to work in march and can look after my lil man longer

[Ephren Taylor]

im getting made redundant on monday im actually excited expecting at least £18k which means i dont have to rush back to work in march and can look after my lil man longer

How long have you worked there?What does that compensation cover?Not sure how redundancy schemes work tbh

[Messy]

ive worked there 12 years so im entitled to the company enhanced redundancy package i also get to keep my company car for a week for every year ive worked there so roughly 3 months. ive also been advised by a solicitor to take them to a tribunal for various reasons. basically i found out through a colleague about the redundancies and everyone had had their interviews for the new positions but the company had not let me know so they had broken redundancy and maternity laws so i may get some money from the impending tribunal too.

[Guest Lemons]

I haven't read this topic.But my point of view is that I have no money, no savings, no shares. All I have is a pension and every pound that goes into my pension in these troubled months will be worth 10 when it sorts itself out.All's well.

[Colin Turnover]

IMOThe stock market hasn't hit the floor yet.+"If" I was buying shares, it wouldn't be banks and pharmaceuticals that I would be looking at.Saying no more.

[gemma]

Trying to fully understand it so i can take advantage of situations, this isn't bad for EVERYONE.

theres not many ways to benefitif u have shitloads of money sitting about, then u could attempt to get a mortage on a house where the value has gone down alot, stay there for like 10 years then move onbut thats it basicallyi work in corporate advisory and restructuring and business is booming for us. if anyone wants a graduate job in accountancy, holla at me

[Jo Dark]

Trying to fully understand it so i can take advantage of situations, this isn't bad for EVERYONE.

theres not many ways to benefitif u have shitloads of money sitting about, then u could attempt to get a mortage on a house where the value has gone down alot, stay there for like 10 years then move onbut thats it basicallyi work in corporate advisory and restructuring and business is booming for us. if anyone wants a graduate job in accountancy, holla at me

What are the entry requirements, if you mind me asking?

[Em Dott]

Trying to fully understand it so i can take advantage of situations, this isn't bad for EVERYONE.

theres not many ways to benefitif u have shitloads of money sitting about, then u could attempt to get a mortage on a house where the value has gone down alot, stay there for like 10 years then move onbut thats it basicallyi work in corporate advisory and restructuring and business is booming for us. if anyone wants a graduate job in accountancy, holla at me

Yes, I want a graduate job in accountancy. I'm deadly serious.What do I need and how do I go about applying?

[King Poetic]

Trying to fully understand it so i can take advantage of situations, this isn't bad for EVERYONE.

theres not many ways to benefitif u have shitloads of money sitting about, then u could attempt to get a mortage on a house where the value has gone down alot, stay there for like 10 years then move onbut thats it basicallyi work in corporate advisory and restructuring and business is booming for us. if anyone wants a graduate job in accountancy, holla at me

Yes, I want a graduate job in accountancy. I'm deadly serious.What do I need and how do I go about applying?