Off-Topic / Stock Market and Trading Talk [1011]


Mystic Jimmy is such a moron that he still hasn't worked out what a tracker fund is, despite claiming to have hundreds of thousands of dollars invested in them. Just look at him claiming that all tracker funds are ETFs! What a f*cking moron!

Off-Topic / Stock Market and Trading Talk [1011]


And now the challenge is on for Mystic Jimmy: donate $2,400 to PF and see all my personal information or forever be exposed as a liar who can't even afford a bag of nails and a roll of tarpaper with which to stop his shack's roof from leaking.

Off-Topic / Stock Market and Trading Talk [1011]


Jim the self-confessed rapist and nun-puncher is so financially illiterate that he thinks getting returns below the market average is something to boast about! Remember when he was trying to crow about getting 1% growth over five days when the market indices had gone up by 3.5%? LOL! And then he tried to claim that he actually has most of his money in tracker funds! What a f*cking retard!

Off-Topic / Music Thread - part 2 [984]

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Off-Topic / Music Thread - part 2 [984]

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Off-Topic / Stock Market and Trading Talk [1011]


That's not investing, that's gambling. My great-uncle worked in the City in the '50s, '60s and early '70s and did quite nicely there. I only met him a few times and was quite young but I still remember him saying that if one wants to gamble one should go to the casino or the horse races, as "One gets better odds there and there are far fewer people trying to cheat the unwary". He died in the early '80s but I'm sure he would also have loved day traders, as they generally know nothing and provide excellent opportunities for the actual experts to make money.

Off-Topic / Stock Market and Trading Talk [1011]


One thing does occur to me about WIG: given that the largest Polish companies are now being run by people picked due to their business ability rather than their ceaseless loyalty to the Party (and their willingness to spend whatever money the Party wanted spend and to set prices at levels the Party wanted), so it's not unlikely that the companies will start doing quite a bit better. Probably this has mostly already been priced in by the market, but we might well see WIG 20 giving returns more similar to WIG over the next few years, possibly even better.

Off-Topic / Stock Market and Trading Talk [1011]


The WIG 20 moved that much, the full WIG did more like 50 percent.

I think part of the problem with the WIG 20 is that many of the companies in it are state-controlled and so until recently had senior staff appointed based on political considerations than business ability.


I'm thinking trackers, CAC and DAX. Maybe SIX too. I noticed that ING offer some interesting options. The problem is that PPK is so much easier. No need to remember to make transfers each month. No need to calculate what 1% was that month. It's just taken off the top before money goes into my bank account.

Off-Topic / Stock Market and Trading Talk [1011]


I really do not understand the thinking there. The ticking pension timebomb in Poland are the people who run a dzialalnosc because they can pay less tax and then save nothing extra for their pension. When they retire they'll get the minimum state pension, which is about 1,300zl. How the f*ck is somebody supposed to live on 425zl a month?! It's good that 'entrepreneurs' can stick an extra 6k in their IKZE, but how many do actually put the full 15k in each year? I'd be guessing less than 10% do.


I've been in the PPK for about 4.5 years. Just checked my balance now: it's 221% of what I contributed. But the actual capital grown (i.e. the amount in there now compared to the total amount of contributions from me, the firm and the state) is only 26.7%, which isn't good over 4.5 years.

History / 20 years of Poland in the EU. [317]


I find them an improvement on the old style. No need to find somewhere to put the unscrewed top and no need to find an unscrewed top that has been put down. And now easier to seal crushed empty bottles, as nobody else in the house has thrown away or lost the top from a bottle.

And of course the additional benefit is that the new ones annoy the gammon.

Off-Topic / Stock Market and Trading Talk [1011]

I must admit that I looked at IZKEs once in detail and haven't had much more than the odd cursory glance since to see which are doing best. I generally just chuck in the full amount for each year when I get my tax refund.


What are your thoughts on PPK? I was vaguely thinking about increasing my contribution from the mandatory 2% to 3%, perhaps even 3.5%. Mostly because it's an easy way to save, the money is deducted before I get my salary transfer each month. But is it too lazy? I doubt I'd really notice much having 1% less money coming in each month but the PPK calculator suggests that going from 2% to 3% would result in an 800zl a month bump in pension, which would be more noticeable. But would putting that 1% somewhere else get a better return? And would I actually remember to take the necessary action each month?

Off-Topic / Stock Market and Trading Talk [1011]


Yes, but currency restrictions only apply to actual currency; when spending fantasy dollars Jim can buy whatever he wants.


That's not really a city I'd want to walk around with $10,000 in cash in my pocket. And who really wants to pay gold storage charges? In the unlikely event I wanted to invest in gold I'd be buying that virtual gold UBS offers.

BTW, mind if I ask which IKZE(s) you're in?

Off-Topic / Stock Market and Trading Talk [1011]


I'm not sorting NI gaps out: I've sorted NI gaps out. As of last March all back-payments were made and the 2023-4 payment made in April. So now it's just £3.40 a week until the 35 years is hit. And it's such a superb return: 2,500%!!! It's like being given the chance to go back in time to 2010 and buy Apple stock! Even Warren Buffett can't compare to that return.

By the way, which IZKE are you investing in? I've got mine with Goldman and they've lead the pack every year since 2017, zero maintenance fees too, but always good to get more information.

Law / Gun control in Poland: should Polish people be allowed to own guns? [1070]


You have that the other way round: if Europeans overwhelmingly voted to own guns, they would.

Do you seriously think there are enforced gun laws where Jon spends most of his time? LOL!

Off-Topic / Stock Market and Trading Talk [1011]


That time-frame wouldn't be a problem, but I really don't want more GBP exposure. I'll have the full 35 years of UK NI, so full UK BSP. At least the same number of years in ZUS, along with IKZE, PPK and PPO all giving PLN income. And then CHF from AHV and BV, but I won't max out the years there. Plus the portfolio (which certainly won't be in GBP).

Off-Topic / Stock Market and Trading Talk [1011]


Do they price units in GBP only? I've shifted everything apart from the UK NI payments to other currencies. Am planning to have UK BSP making up 25% to 30% of income, so don't want to have any further GBP exposure, just in case the pound tanks yet again.

Off-Topic / Stock Market and Trading Talk [1011]


Not quite the same thing. Unit trusts are priced once a day, but ETFs have real-time pricing.


They're better than OK. Only utter morons who think they know better than specialised experts try to pick specific stocks. But ETFs can be more risky when you start looking at the ones that focus on specific industries etc. Personally I just look to track the broad market.


I assume you mean she had some units in those trusts, rather than owning entire funds as Mystic Jimmy claims to. I mean, I knew your parents have a quid or three but I didn't realise you were one of the Rockefellers!

Off-Topic / Stock Market and Trading Talk [1011]


Good to see that even the thickest of financial illiterates has finally managed to get his head round the fact that one does not buy an exchange-traded fund. In fact, he's understood it so well, he now claims to have shares in some of the best performing funds!

But that does beg a few questions. For example, why was he trying to boast about getting 1% growth on certain shares over five days when the ETF he's now discovered got 3.3% in that same time? Anybody who understands opportunity cost would know that 1% growth when one could have got 3.3% is a loss. They'd be upset with themselves for trying to play expert and so missing out on a return three times as much if they'd just left their money in the hands of experts.

But, of course, when somebody only fantasy money they can put as much as they want in the 1% growth opportunity and as much as they want in the 3.3% growth opportunity and still argue that they won, because they made as much money as they wanted to! Pity that all of that added together still isn't enough to buy a bag of nails.

Off-Topic / Stock Market and Trading Talk [1011]


It really is uncanny, a fund even being mentioned by the Mystic Genius causes the price of units in it to drop immediately!

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Off-Topic / Stock Market and Trading Talk [1011]


One more time in case the financially illiterate are also actually totally illiterate:
ETF stands for exchange-trade fund. One does not buy the entire fund. One buys units in a fund (or funds).

Unless you're trading in fantasy billions, then you can buy as many funds as you want (but not the roofing nails you actually need, because the store wants real coins and dollar bills for those).

Off-Topic / Stock Market and Trading Talk [1011]


I should probably make something clear, just in case anybody is even half as financially illiterate as Mystic Jim: you do not purchase an ETF (excuse the dyslexia above), you purchase units in that fund.

Well, I suppose the superstar market gurus who have a different Lear jet for each day of the week might have their own ETFs.

Off-Topic / Stock Market and Trading Talk [1011]


Just in case anybody else is as financially illiterate as the Mystic Genius who boasted about getting return 50% below what the market offered:
an EFT is a type of tracker fund;
a tracker fund is a passive investment fund that aims to track a benchmark or market index (them being passive makes them cheaper to run than active funds, which try to pick the winners when it comes to share price movement); and
a market index measures how a stock market performs (some tracker funds track a market index or multiple market indices).

And a complete idiot who claims to be a financial guru despite knowing none of the above and not even being able to convert between two currencies is? That's right, it's our very own Mystic Jimmy!

Off-Topic / Stock Market and Trading Talk [1011]


Mystic Jim is so financially illiterate he doesn't even know the difference between a tracker fund and an EFT and a market index! What a f*cking retard!

Next thing he'll be boasting about the superb trades he's been pulling off on the ForEx market, when we've all seen that in reality he can't even convert CHF 100 into the correct number of US dollars! Hoot!

Off-Topic / Stock Market and Trading Talk [1011]


But how can one person be so stupid as to pretend for years to 'play the market' and still be so utterly ignorant of it that he tries to celebrate and boast about getting sub-market returns? It's beyond baffling. He gets a return of 1.5% when the market goes up by 3.5% and then he tries to paint that as winning!


If I ever do get round to shorting a stock on the basis that Mystic Jimmy has tipped it, I'll be taking 10% of the gain and using it to buy a few packs of these and have them delivered to his address:
amazon.com/Hillman-Group-42041-Galvanized-100-Pack/dp/B00PHHM4B4/

Off-Topic / Stock Market and Trading Talk [1011]


Anybody can boast about vastly under-performing. But only Mystic Jimmy is dumb enough to actually come here do it! He thinks it's a success to have made 300 fantasy dollars when if he'd just let actual experts invest his fantasy money, he'd have made more than $600! Hoot!

Off-Topic / Stock Market and Trading Talk [1011]


Now at 45.21 and +0.41 (0.92%) over past 5 days

Now 118.49 USD and +2.95 (2.55%) over past 5 days

But
S&P 500 is 5,561.52 and +184.54 (3.43%) over past 5 days
and
Dow Jones Industrial Average is 40,783.35 and +1,338.08 (3.39%) over past 5 days
and
NYSE Composite is 18,804.01 and +597.62 (3.28%) over past 5 days

So the mystic genius comes here to boast about his ability to produce returns that are an average of less than half what one can make by simply tracking the market indices! LOL! No wonder he can't convert between currencies, he thinks he's a genius for getting growth less than half of what one can make by not claiming to be an expert and letting actual experts invest one's money.

But I suppose that's something only those who actually have any money are aware of. Hoot!

Real Estate / Build a house Wrocław area [18]

That's an excellent conclusion to draw. Remember that free advice is often worth every penny you paid for it.

Real Estate / Build a house Wrocław area [18]


No. Otherwise every small business in Poland would officially be an Irish company and pay CIT only there. You do get full credit for tax paid in the UK, but you have to prove to the Polish tax office you owe nothing to them, which means monthly filing with them.


Use the search and look for the topics that interest you.

But you honestly really do need professional tax advice. Somebody was asking for recommendations there a week or so ago, should show up easily with a search.

Real Estate / Build a house Wrocław area [18]

That doesn't matter. You own and control the company. When you're a PL tax resident, the Polish tax office will class the company as a controlled foreign company (a CFC). CFCs here have tax liabilities here. You'll be required to keep PL tax records and submit those to the tax office here monthly.

Real Estate / Build a house Wrocław area [18]

To run a UK company in Poland you need a work permit (unless you can demonstrate that no work is done in PL). But a UK company run by a PL tax resident will be a foreign-controlled company and so need to file monthly tax returns in Poland (and pay taxes owed). So you'll need to keep two sets of books, at more than double the cost of a PL company.

I'd really suggest joining that Facebook group, many people there have moved to Poland and do run companies here (some also run UK companies). This forum currently has exactly two regular posters who have ever run any company in Poland.