No jump racing today, and it looks like the next meeting that may go ahead is at Huntingdon on Thursday.
Last night, I took my monthly look over my pension funds. As an lifelong gambler, I have trust in my own judgement and so since 1998 I have managed my own pension funds. I immediately had a bit of a lucky break, as I moved my pension fund out of Equitable Life's "With Profits" funds (surely a misnomer) into their free-standing pension funds just before the company collapsed.
I started 2010 with my usual annual target - a 20% increase in my pension fund. As of last week, I hit the target for the year. Since I started "managing" my own pension, I think it has performed admirably. In 2005, I achieved a 36% increase in my pension fund. I've had a couple of years of about 10% growth, and 2008 was a bit of a stinker (but, then I wasn't paying a financial advisor 5% of my fund value for the privelege of him saying that "markets were unsteady"). Right now, my pension fund is nearly 12% greater in value than it was in the summer of 2007 when the FTSE was at 6600 (its at 5830 as of noon today, about 12% down on its peak), so, I think my judgement isn't too bad.
Generally, I measure myself against the so-called "managed funds". I reckon if I can beat those, then I'm doing alright.
What I noticed last night was that property funds are back in town. I've not been involved in property this year, but its been on an upward trend since Sept 2009 when it bottomed-out. If property can grow in a recession then, as the economy pulls itself out of the mire, there's only one way it can go - up! So, today I'm going to start moving some of my pension fund portfolio into property (about 2%, increasing to 10%).
My European funds are going sideways. Not sure why, but its probably due to the Euro and other economic woes. So, they are the funds I'm selling and moving into property.
Looking long term, I reckon that there will be significant growth in raw materials necessary for modern life - and silver is one commmodity that takes my eye. It has gone up over 200% (from US$9 to US$30 an ounce) since the autumn of 2008, and that must be because that it's many uses in modern electronics is making it more valuable. I'm looking for a fund to include in my portfolio for commodities and raw materials, and would welcome any suggestions.
Outside of Europe, as I lived and worked in Hong Kong for over 7 years in the 1990's, I always have a soft-spot for the Asian markets, and this year they have done me proud - again! They never seem to fail me. If there ever is a correction, they bounce back double quick.
I also have a chunk of my fund in smaller companies and "special situations". If you are going to make a killing in these areas, its best to get into them when the economy is downbeat (and they are relatively cheap) as when the economy turns upwards, they will outstrip the growth of the "blue-chips".
Anyone else out there who manages their own pension funds and want to swap advice?
Tuesday, 7 December 2010
Monday, 6 December 2010
Get the notebooks ready
Look-ahead at the week’s racing
The thaw in the weather came too late to save the Sandown “Tingle Creek” meeting on Saturday, and the race has been transferred to the Cheltenham meeting this coming Saturday (11th).
Yesterday’s re-scheduled meeting at Exeter was a brief respite for jump racing fans. Paul Nicholl’s Sanctuaire flopped again and now has lots to prove. The 4-mile h’cap chase had 8 fences omitted due to bad ground and that result is of debateable value.
Today’s planned meetings at Bangor and Musselburgh have both been abandoned. Racing planned for the rest of the week also looks dodgy . Tuesday’s jump meeting at Sedgefield has already been abandoned, and there is an inspection this afternoon for Fontwell (which may well go ahead given its proximity to the coast).
Wednesday’s jump meeting at Hexham has already been abandoned, tho’ the meeting at Leicester looks a goer (in my opinion). There is an inspection planned this morning and I would expect this to pass.
By Thursday, we should be back to normal.
In a few weeks times we will enter the most important period in the jumps racing calendar; that between Boxing Day (26th December) and Valentine’s Day (14th February) when just about every horse, that will go on to win at the coming Cheltenham Festival in March, will run. Get the notebook ready, the pencil sharpened and be ready to view the races – especially those in Ireland. Looking at the novice championship races (Arkle and RSA), I am surprised we’ve not seen the markets for these races firm-up as, by this time last year, Sizing Europe had run (and won) twice, and Weapons Amnesty had run three times (won once). It could be that we have already seen the winners of these races over fences – but we’ve not noticed them just yet.
Thanks for reading this blog to all new visitors. The blog takes a lot of effort to maintain and I hope that readers of the blog get enjoyment from it too. If you have had a successful wager on the back of what you’ve read here, then please make a contribution as an expression of thanks. Feel free to tell those who you think may find the blog of interest and value and, if you are a regular visitor, please add the blog to your list of favourites.
Thanks from Wayward Lad
The thaw in the weather came too late to save the Sandown “Tingle Creek” meeting on Saturday, and the race has been transferred to the Cheltenham meeting this coming Saturday (11th).
Yesterday’s re-scheduled meeting at Exeter was a brief respite for jump racing fans. Paul Nicholl’s Sanctuaire flopped again and now has lots to prove. The 4-mile h’cap chase had 8 fences omitted due to bad ground and that result is of debateable value.
Today’s planned meetings at Bangor and Musselburgh have both been abandoned. Racing planned for the rest of the week also looks dodgy . Tuesday’s jump meeting at Sedgefield has already been abandoned, and there is an inspection this afternoon for Fontwell (which may well go ahead given its proximity to the coast).
Wednesday’s jump meeting at Hexham has already been abandoned, tho’ the meeting at Leicester looks a goer (in my opinion). There is an inspection planned this morning and I would expect this to pass.
By Thursday, we should be back to normal.
In a few weeks times we will enter the most important period in the jumps racing calendar; that between Boxing Day (26th December) and Valentine’s Day (14th February) when just about every horse, that will go on to win at the coming Cheltenham Festival in March, will run. Get the notebook ready, the pencil sharpened and be ready to view the races – especially those in Ireland. Looking at the novice championship races (Arkle and RSA), I am surprised we’ve not seen the markets for these races firm-up as, by this time last year, Sizing Europe had run (and won) twice, and Weapons Amnesty had run three times (won once). It could be that we have already seen the winners of these races over fences – but we’ve not noticed them just yet.
Thanks for reading this blog to all new visitors. The blog takes a lot of effort to maintain and I hope that readers of the blog get enjoyment from it too. If you have had a successful wager on the back of what you’ve read here, then please make a contribution as an expression of thanks. Feel free to tell those who you think may find the blog of interest and value and, if you are a regular visitor, please add the blog to your list of favourites.
Thanks from Wayward Lad
Friday, 3 December 2010
Fiasco for England 2018 World Cup bid
With snow covering the country and allowing plenty of time for navel-gazing, there is much gnashing of teeth over the failure of the England 2018 World cup bid.
Not much point in trying to find blame, as the failure is in the system - lying at the feet of FIFA.
It is now fairly evident that FIFA has grown into a monster which holds too much power over world football for which it answers to no-one and no body.
We can ask for a more transparent election/selection system, but that's like trying to hold democratic elections in China - it ain't gonnna happen.
Personally, I am not too put out by England not hosting the 2018 World Cup as not having to qualify would probably have meant our national team would be weak from lack of competitive football. Losing a World Cup as the host nation would signal a mass depression over the country.
I am fairly happy about the selection of Russia as 2018 hosts, as it is a former "Eastern-block" country and the first from the east of Europe to host the tournament. The logistic issues will be the heat in the summer (it can get exceptionally hot) and the terrorist issues.
What upsets me most is that the England bid only recieved 2 votes from the 22 on offer - and one of those was from England's representative on the voting panel. Given that all 4 host candidates for 2018 were based in Europe (Spain/Portugal; Holland/Belgium; England and "winners" Russia) and the Spain/Portugal bid was really a non-starter (Spain having hosted in 1982); England really should have collected a few more votes in the opening round. It should have been a straight battle between Russia and England.
As for 2022 being awarded to Qatar - that deceision is totally bonkers! It cuts against the grain of everything the World is trying to aim for - never mind football. Taking the World Cup to Qatar is FIFA putting two fingers up to conservation and saving the planet. It is FIFA saying they support the subjugation of women. It is FIFA saying that they are religiously intollerant. It is FIFA saying that they are "for sale".
Where do we go from here?
FIFA will not change, and they are now drunk with power. If you think the decisions of yesterday were bad, now that they have got away with it they will get much worse. FIFA has become a de-facto fascist state.
FIFA has to be toppled before it turns the beautiful game into something hideously ugly.
EUFA has already agreed to expand the European Championships in 2016 from 16 nations in the finals, to 24. Why not make the tournament an "invitational"? Invite 4 non-European teams to compete - the likes of Brazil and Argentina, Ghana, Mexico, Chile and Uruguay, USA and Australia.
Create a tournament free from corruption and hidden voting practices, that supports a game that is open to all, and that brings respect back to the game.
Not much point in trying to find blame, as the failure is in the system - lying at the feet of FIFA.
It is now fairly evident that FIFA has grown into a monster which holds too much power over world football for which it answers to no-one and no body.
We can ask for a more transparent election/selection system, but that's like trying to hold democratic elections in China - it ain't gonnna happen.
Personally, I am not too put out by England not hosting the 2018 World Cup as not having to qualify would probably have meant our national team would be weak from lack of competitive football. Losing a World Cup as the host nation would signal a mass depression over the country.
I am fairly happy about the selection of Russia as 2018 hosts, as it is a former "Eastern-block" country and the first from the east of Europe to host the tournament. The logistic issues will be the heat in the summer (it can get exceptionally hot) and the terrorist issues.
What upsets me most is that the England bid only recieved 2 votes from the 22 on offer - and one of those was from England's representative on the voting panel. Given that all 4 host candidates for 2018 were based in Europe (Spain/Portugal; Holland/Belgium; England and "winners" Russia) and the Spain/Portugal bid was really a non-starter (Spain having hosted in 1982); England really should have collected a few more votes in the opening round. It should have been a straight battle between Russia and England.
As for 2022 being awarded to Qatar - that deceision is totally bonkers! It cuts against the grain of everything the World is trying to aim for - never mind football. Taking the World Cup to Qatar is FIFA putting two fingers up to conservation and saving the planet. It is FIFA saying they support the subjugation of women. It is FIFA saying that they are religiously intollerant. It is FIFA saying that they are "for sale".
Where do we go from here?
FIFA will not change, and they are now drunk with power. If you think the decisions of yesterday were bad, now that they have got away with it they will get much worse. FIFA has become a de-facto fascist state.
FIFA has to be toppled before it turns the beautiful game into something hideously ugly.
EUFA has already agreed to expand the European Championships in 2016 from 16 nations in the finals, to 24. Why not make the tournament an "invitational"? Invite 4 non-European teams to compete - the likes of Brazil and Argentina, Ghana, Mexico, Chile and Uruguay, USA and Australia.
Create a tournament free from corruption and hidden voting practices, that supports a game that is open to all, and that brings respect back to the game.
Wednesday, 1 December 2010
I'm dreaming, of a white Christmas
Look-ahead at the week’s racing
December opens with no jump racing. The meetings at Ayr, Catterick and Plumpton have all been abandoned.
Tomorrow’s card (Thursday) at Wincanton is undergoing an inspection as I write, but conditions are deteriorating, and it is unlikely to go ahead. Have just learned that the meeting is abandoned.
Friday’s card at Exeter is doubtful, as the course is currently frozen. There is an inspection at 3pm today. The card at Sandown is also doubtful as the course is currently unraceable. There will be an inspection on Thursday morning.
Saturday’s meetings at Sandown, Chepstow and Wetherby are all in doubt. My opinion is that the Chepstow meeting is the most likely to go ahead as although it is covered in light snow (as I write on Wednesday morning), a slight thaw in temperatures would make the course raceable.
Sunday’s meeting at Kelso has already been abandoned! The meeting at Warwick is in doubt (the course is frozen and under an inch of snow).
Monday’s planned meetings at Bangor and Musselburgh are unlikely to go ahead unless there is a change in the weather.
At least I’ve not been stuck on a train overnight like those passengers at Orpington in Kent.
If you can, try and find out from websites and blogs operated by racing trainers just who is able to exercise their horses in this weather. Last winter, I noticed that those trainers who were able to gallop their horses came out best when horseracing resumed after the frozen period in early Jan-Feb earlier this year.
Unless there is a significant change in the weather, I will be taking a rest from writing the blog and will resume when racing does. How does the song go? “I’m dreaming, of a white Christmas…”
Thanks for reading this blog to all new visitors. The blog takes a lot of effort to maintain and I hope that readers of the blog get enjoyment from it too. If you have had a successful wager on the back of what you’ve read here, then please make a contribution as an expression of thanks. Feel free to tell those who you think may find the blog of interest and value and, if you are a regular visitor, please add the blog to your list of favourites.
Thanks from Wayward Lad
December opens with no jump racing. The meetings at Ayr, Catterick and Plumpton have all been abandoned.
Tomorrow’s card (Thursday) at Wincanton is undergoing an inspection as I write, but conditions are deteriorating, and it is unlikely to go ahead. Have just learned that the meeting is abandoned.
Friday’s card at Exeter is doubtful, as the course is currently frozen. There is an inspection at 3pm today. The card at Sandown is also doubtful as the course is currently unraceable. There will be an inspection on Thursday morning.
Saturday’s meetings at Sandown, Chepstow and Wetherby are all in doubt. My opinion is that the Chepstow meeting is the most likely to go ahead as although it is covered in light snow (as I write on Wednesday morning), a slight thaw in temperatures would make the course raceable.
Sunday’s meeting at Kelso has already been abandoned! The meeting at Warwick is in doubt (the course is frozen and under an inch of snow).
Monday’s planned meetings at Bangor and Musselburgh are unlikely to go ahead unless there is a change in the weather.
At least I’ve not been stuck on a train overnight like those passengers at Orpington in Kent.
If you can, try and find out from websites and blogs operated by racing trainers just who is able to exercise their horses in this weather. Last winter, I noticed that those trainers who were able to gallop their horses came out best when horseracing resumed after the frozen period in early Jan-Feb earlier this year.
Unless there is a significant change in the weather, I will be taking a rest from writing the blog and will resume when racing does. How does the song go? “I’m dreaming, of a white Christmas…”
Thanks for reading this blog to all new visitors. The blog takes a lot of effort to maintain and I hope that readers of the blog get enjoyment from it too. If you have had a successful wager on the back of what you’ve read here, then please make a contribution as an expression of thanks. Feel free to tell those who you think may find the blog of interest and value and, if you are a regular visitor, please add the blog to your list of favourites.
Thanks from Wayward Lad
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