Northern Rock customers, don't panic!

[John M]

The Mrs works for a high street bank, they were having a intercompany marketing suggestions competition ......... Me being the kinda guy I am ..... Made up a A4 ad in Paintshop picture with the slogan "Don't leave your money stranded on a rock" across the top.......

The Branch manager went bananas screwed it up & tossed it in the bin, then handed her a document showing the share holding percentage that their bank held in associated Northern Rock buisnesses.....

From a personal point of view, if I had 50p in Northern Rock I'd be taking it to the nearest safe depository for the next month or so to see how things pan out.

 

[BOB D.O.L.E]

Me being an opportunist wouldn't this be a great time for the muggers all they need to do is hang around a northern rock bank and wait for gramps and grans to draw out there swag and bang them over the head with a northern rock or a southern rock if from down south.

 

[Steve]

They were interviewing folk on the news earlier, one old bloke said "I think they'll get through it"

My dad goes "why the hell are you taking your money out then you damned fool?"

 

[2scoops0406]

eddie what share buying service do you use?

I use the one at the bank I work for 'cos it's convenient, however I don't know how they compare for the GP, I'd guess they were all much of a muchness.

 

[masona]

This is the one I use, very cheap, £10 per dealing regardless how many shares. Barclays Stockbroker was charging me minimum £52 plus more if selling more shares.

http://www.iii.co.uk/sharedealing/

They also have Live Assistance which they answer any query you may have straight away.

 

[JohnD]

I've just bought 2k of shares in them

Steady as she goes, will buy another 2k if this continues, why are the general public such muppets (or will he be eating humble pie in days to come
) Hey ho, it's all a game.

I don't know but

...If no buyers come forward, it seems likely Northern Rock’s business will be gradually wound down, effectively leaving it with a shrinking mortgage book as loans are repaid. Its advisers are thought to have calculated that, in this situation, it would be worth about 180p a share. On Friday they closed at 438p. ..

http://www.ft.com/cms/s/0/39199b78-6489-11dc-90ea-0000779fd2ac.html

 

[2scoops0406]

Time to buy some more, down another 30% ... am I mad ... probably!

 

[Softus]

I don't know

You don't know whether you spent £2k or £9K?

a 20 plus percent drop in shares in one day is worth a punt, surely ?

Do you have a reason to think that the share price will ever get back to the same level as before it started plummeting?

Or does "punt" just mean "guess"?

Time to buy some more, down another 30% ... am I mad ... probably!

No; just hysterical with greed.

 

[2scoops0406]

I don't know

You don't know whether you spent £2k or £9K?

a 20 plus percent drop in shares in one day is worth a punt, surely ?

Do you have a reason to think that the share price will ever get back to the same level as before it started plummeting?

Or does "punt" just mean "guess"?

Time to buy some more, down another 30% ... am I mad ... probably!

No; just hysterical with greed.

Yep, know how much I've spent

Punt, does indeed mean guess in this case (but then I don't know how much flat bottomed boats sell for)

Hysterical with greed, hardly, already made a 30% loss

 

[anobium]

Surely Northern Rock need more people like Eddie M, if there was more like him, the share price would start to rise, or at least stabilize, and the people with savings in the bank would feel more secure.
At least thats the way I see it.

 

[Softus]

Time to buy some more, down another 30% ... am I mad ... probably!

No; just hysterical with greed.

Hysterical with greed, hardly, already made a 30% loss

You won't make any loss (or gain) until you sell.

Not greed? Really?

So what would you say made you decide you to buy at the -20% price? A qualified and insightful financial analysis perhaps?

And not hysterical? Really?

So why did you rush in and then declare here so gleefully that you think other people are muppets?

 

[jeeves]

Does the T in Softus stand for troll per chance?

 

[2scoops0406]

Time to buy some more, down another 30% ... am I mad ... probably!

No; just hysterical with greed.

Hysterical with greed, hardly, already made a 30% loss

You won't make any loss (or gain) until you sell.

Not greed? Really?

So what would you say made you decide you to buy at the -20% price? A qualified and insightful financial analysis perhaps?

And not hysterical? Really?

So why did you rush in and then declare here so gleefully that you think other people are muppets?

Why would I be gleeful of people withdrawing their money ? It's a normal transaction that occurrs millions of times a day. It's not as if they've lost anything. Also, it's not the general public that affect the price of shares, but as you put it yourself, brokers, who presumably do "qualified and insightful financial analysis".

"So what would you say made you decide you to buy at the -20% price? A qualified and insightful financial analysis perhaps?"

As I said a punt (guess, gamble, roll of the dice) not paying off at the moment, so no not really hysterical. Besides even if it had bounced back to it pre first day plunge price, I'd hardly be retiring now would I?


Quote :-

"I didn't initially panic but the more you watch the news and read you think maybe we ought to do it as well," said ******* ******, retired, as she stood in line with hundreds of others at the Oxford Circus branch.

"We thought we would do what everyone else is doing. Rightly or wrongly it's a chance you can't take."

"I didn't sleep at all on Friday night. It's a lot of money and I was very distressed and my husband was as well," said ***** *****, 53, a lawyer who was among hundreds in line at the Oxford Circus branch after failing to access her account via the Web site and by telephone since the crisis broke."

Herd mentality? Education no barrier

 

[Softus]

Why would I be gleeful of people withdrawing their money ?

I don't know. Please show me where I said or implied that you were.

It's a normal transaction that occurrs millions of times a day. It's not as if they've lost anything.

Incorrect - many people are having to forego some interest in order to withdraw their savings.

Also, it's not the general public that affect the price of shares, but as you put it yourself, brokers, who presumably do "qualified and insightful financial analysis".

I didn't mention, or refer to, brokers.

Your belief that the general public don't influence share prices is bizarre, and, for someone who works for a bank, worryingly naive.

Herd mentality? Education no barrier

Very amusing. But the most entertaining and predictable herd of all is the group of vultures who, like you, swoop in thinking they'll pick up a bargain and then crow about it.

 

[2scoops0406]

Herd mentality? Education no barrier

Very amusing. But the most entertaining and predictable herd of all is the group of vultures who, like you, swoop in thinking they'll pick up a bargain and then crow about it.

I guess that would be flock mentality then