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Posts posted by Bandit

  1. Anybody using it or know about it? I've setup two rules to make small trades and it seems to be working on their demo exchange.


    Thinking of linking Binance to it but not quite there yet.


    Also, if you were to run a trading bot would you use BRC or Tether or something else as the main wallet?

  2. On 10/20/2020 at 5:11 PM, Spreadsheet Ranger said:

    Okey, I get that bit, but where did you put the money or are you just spending it on everyday stuff now instead?



    Investing it still. But it made no sense to continue with it. Next year again :)

  3. On 10/15/2020 at 11:20 AM, Spreadsheet Ranger said:

    How did the interest rates killed it? (What magic am I missing)


    Interest rates in the interest bearing are so low that it wasn't worth it for me.

    Market crash killed it for the investment version of it. Just a kark year 😛

  4. Ja nee what a load of bull. Fuel tax, emissions tax, annual road tax but most importantly - FUEL TAX.


    You get that they want to build a "first world country" but to do that you need a tax base that can support it and for that to happen you need to give people jobs so that they 1) contribute to tax and 2) not rely on grants.


    Before you can do any of these projects that require tax money  - get people to work. Attract foreign investors, give them tax breaks or some sort of incentive to setup shop here and employ South Africans.

    • Like 1
  5. On 9/1/2020 at 2:44 PM, Saday said:

    I'm curious if you've reviewed your rationale recently now that the waters have temporarily calmed. Do you still think you were thinking clearly or do you recognize a little bit of the recency bias and nihilism that drove the choices you made here?


    I'm speaking with regards to:

    1. Cashing out your pension (!)

    2. Panic selling from a passively managed portfolio (As an aside, who exactly was "trying to take your money"?

    3. Staying invested (due to admin inertia) in the RA while thinking there was no way it could recover (I'm curious to know if it did and if so/not what exactly is your RA invested in and have you looked to tighten up there?) 

    4. Not wanting to add more to your RA while everything was on sale


    Knowing what I know now I would do it again. Make no mistake, it could've ended badly but for some reason I had very little doubt that it will work out in my favour. Still scary.


    1. Cashing out pension

    Still happy I did it. We have plans to cash out my wife's as well. We are planning to move offshore for a bit (permanently?) but even if we didn't I have do not have enough faith in our government and Reg 28 to provide us with a retirement. Retirement is still 30 years away though. I'd rather sort it out myself. I would never suggest to anybody to cash out their pension (it could be the worst mistake you ever make) but personally I have no love for reg 28.


    2. Panic selling

    This wasn't panic selling. I saw an opportunity and took a calculated risk. All the money was reinvested. Yes I took the opportunity to rebalance but I invested in the same "philosophy" - not in SA. Panic selling implies that one has no plan and making rash decisions.




    *I bought back in over a couple of days but that's the rough idea. When I bought back in I thought we hit bottom already, but obviously not.


    3. RA

    So I moved my RA to Allan Gray in 2018. As a result the fund is split in two exact same funds - one that just sits there and one for new deposits. This is the lump sum with no additional deposits' performance:


    Since inception: -0.49%


    4. Not adding anymore to RA

    I've stopped all deposits to my RA btw. Investing that money into my own investments. My new portfolio is up 6.59% over the last 6 months which is not spectacular but the investments are diverse and not bound to reg28 constraints.



    • Like 2
  6. 33 minutes ago, Below said:

    Thoughts? Sell off ASHGEQ, CTOP50, SYG4IR and STXNDQ at a profit (covering the costs) and reinventing it. 


    If it was profitable then yes, sell off and "reinvent" or keep the ones that you do not like/are duplicated and stop contributing to them.


    It helps if you theme your portfolio meaning: 80% offshore, 10% local, 10% property... or in your case 80% (50% developed markets, 20% emerging markets, 10% tech stocks), 10% local, 10% property. Get the "theme" right so you know what you want to do and then use the appropriate ETFs to do so.






    • Like 1
  7. So let's see:


    TFSA +28%

    ETF5IT (42%)

    ASHGEQ (55%)

    STXEMG (3%)


    The growth here was helped by timing the crash and dip earlier this year and time.


    Portfolio #1 +8%

    SYGWD (27%)

    SYG4IR (42%)

    STXCHN (31%)


    Portfolio was started after the crash, so gains are partly due to the recovery (maybe?) and the recent growth we've seen over the last week.


    Portfolio #2 +77%

    ETFRHO (95%)

    DCX10 (5%)


    Ah yes, portfolio 2. Otherwise known as my **** around portfolio. Growth is largely from past performance of ETFRHO and it's been stuck in the +70 range for a while. I reckon the party is over but scared of capital gains.

    • Like 2
  8. Yes.


    FNB to Investec for a -0.5% lower rate.


    It's a slow process because of COVID and the deeds office shutting down every other day. Both banks have been ready to do the transfer for a while now.


    So, long story short:

    - some (all?) banks like FNB require you to give them advanced notice that you intend to settle the loan (3 months I think), so that's step one.

    - costs: It will be a repeat of the bond reg costs unless the attorney does it at a discount (so on a R1.5mil loan it's about R25-30k). These costs can be loaded onto the loan if you wish.

    - there is a cancellation fee at the current bank which is in the region of R5,000.


    For a better interest rate and/or bank and over long enough time it is worth it.




  9. On 6/7/2020 at 9:57 AM, Snot Boogie said:

    Hi all. Would you say it’s advisable to get life insurance products, if you currently do not have any dependents. Does the whole argument about getting it while you’re still young and healthy for lower premiums actually hold water?


    You'll want income, disability and severe illness cover regardless of how old you are. If something happens you want to be able to maintain your lifestyle. Life doesn't really care for your age or relationship status and after it's run a number on you and if you are still alive you'll want money.


    Life cover is for when you die (for the most part). Basically - make sure your debt is covered and nobody else gets stuck with it. If you have no family...well... yeah. It's not expensive though.

    • Like 1
  10. On 5/29/2020 at 1:54 PM, Spreadsheet Ranger said:

    What issues do you currently have with FNB?


    Nothing with regards to their product offering. Biggest mistake I ever made though was "upgrade" to their Private Client suite which is a bunch of bs. Most of the time you have to phone the relevant department anyway.


    Bigger deposit can potentially mean better interest rate. If we put the interest rate aside, there should be no difference in repayments between having a R1 000 000 bond with R200 000 in an access facility vs a bond with R800 000 outstanding. The fundamental differences (and take it with a pinch of salt):

    • Access facility means just that, you have access to any extra funds you put in your account. Great for an emergency fund, but easy to spend if you are "bad" with money
    • Extra money in the access facility returns at the rate of your home loan interest but tax free. You pay tax on interest you gain but not on interest you save.
    • Down side obviously is that the rate of return is pretty low compared to what equities are returning, so having too much in the access facility is potentially bad given the low interest rates.
    • You cannot fix the interest rate on a bond with an access facility which is something people may want to do in a year or so's time


    Personally - I took the access facility to keep my options and access to funds open.

    • Like 2
  11. 18 hours ago, Spreadsheet Ranger said:

    @Bandit what is your credit score and what percentage interest did you get?


    Uhm, no idea what my credit score was but it's good. Haven't checked in a long time but never missing a payment for over a decade does that.


    This was for a 100% loan so interest rates weren't as competitive, but I opted to rather put the deposit into the access facility.


    Told her I wanted FNB. So she went to ABSA, Standard Bank and Nedbank first. Nedbank responded with prime-0.15, ABSA with something like Prime+3 and Standard Bank somewhere in between. Then sent the Nedbank offer to FNB who immediately matched it. We didn't negotiate much further because of the 100% bond.


    Since then and with the interest rates that fell I moved to Investec and in the process of moving my bond to them as well. A bit early, have to pay bond attorneys again (although, Investec discount) and I get Prime-0.65% which means I'm now on 6.6%. Also move my vehicle finance to them at Prime-0.5%. So very happy. In the grand scheme of things the extra round of bond fees is not the worst and I just want to get away from FNB as a whole. Not advisable unless you've done the calculations and happy with the financial impact (you shouldn't be.... something wrong with me)



    • If you want to negotiate, put down a 20% deposit
    • Make sure you're happy with whomever gives you the loan because moving too soon is not cost effective
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