Group description: |
This group nominally covers the whole of Scotland – although we are also open to members from wider afield. The focus of the group will be on ‘Technical Trading’ rather than Investing. Importantly, we understand that many people do both longer term investing and shorter term ‘technical trading’. Of that mix of styles this group will focus on ‘technical trading’ – so you might expect us to have conversations such as:
Swing Trading, Stop Losses and Position Sizing, Chart Patterns – Cup and Handle, Breakouts, Springs, Flags etc, Support & Resistance, Indicators, Price Targets, Positive Expectancy, Trade Management, Trading Systems, Trade Ideas and Evaluation, Trade Planning, Leading and Lagging Sectors, Leading and Lagging Participants within Sectors, Trade Journals, and the ‘Tools of the Trade’.
The majority of the group have both longer term investments and carry out shorter term trades, too. They would term themselves both ‘investors’ with a longer term outlook and ‘traders’ with a shorter term outlook. The group members have broad experience in the markets – including across all asset classes and vehicles (shares – companies, trusts, ETFs, funds; spread-bets, CFDs, Options, Crypto). However, most of the group are predominantly interested in equities within the context of a portfolio.
Although some members are highly experienced traders that is not true of all and experience level should not be seen as an impediment to joining. So, if you don’t know who Richard Wyckoff was, or why Fibonacci is even more relevant today than in the 11th Century – don’t worry! Every day is a ‘school day’ for us all – Mr Market makes sure of that! |
I completely agree with this post re Albion, there is a very good and apparently informed discussion on exactly this topic currently being conducted on Lemon Fools site, one poster there points out that KAY, also in the Albion stable, changed their scheme to the same hurdle (RPI+2% which is too low anyway, realistically), but only a 15% cut above that hurdle, not the 20% for AAVC, surely it makes sense to have all VCT’s in the same stable to have the same deal ?
Historically Albion have treated investors pretty fairly, I wonder how much thought has really been put into this proposal ? It looks a greedy proposal to me.
Good spot Cliff. I’ve just returned from holiday to find this in my postbag. I’ve written to Albion, noting that this Modest Proposal would trigger an immediate annual cash bonanza for the managers of a quarter million pounds, should they match the relatively modest historical return of 6.5% p.a.
(6.5% minus RPI of 2.7% and 2% hurdle, times 20% times the asset base gives £240,000 per annum).
Or looked at another way, given that this mature VCT only needed to make investments of 2.3 mio last year, this performance fee (to incentivise new investment) represents 11% of new investments made.
The proposed reduction in the TER is a bit of a red herring as it is of no effect.
I wrote to Albion & received a reply yesterday, full of PR spin, yet it was written by the managing partner, not an independent director nor the company secretary, they seem determined to do nothing and to press ahead regardless. Any suggestions ?