betting portfolio related to financial crisis

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shinycarletto
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shinycarletto

betting portfolio related to financial crisis
« on: December 16, 2018, 01:24:57 PM »

hello everyone i didn't know where to post this; i hope to be in the right place.
I have to write an article about the advantages of having a betting portfolio during financial crisis so i would like to ask if some of you had a betting portfolio during the 2008 crisis or the greek one or any other crisis and to share his experience about it. Each type of crisis is fine also wars, dictatorships ecc.

Thanks a lot in advance.
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neopas
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neopas

Re: betting portfolio related to financial crisis
« Reply #1 on: December 18, 2018, 11:16:05 AM »

Each crisis had different characteristics.
For example, the 2008 crisis was more of an American crisis and not a European one (at least in the beginning). The currency risk was small for Americans because they could print their own USD up the amount that they would want. This is what they did actually with the TARPS and all this artificial busting of their economy during these years.
In Europe there were several smaller crisis with the Greek one being on top. In Greece we have the opportunity to live under a program since 2010 even though the recession started in 2008. There was a spike in 2012 with the double elections and then a peak in the Summer of 2015 under the governance of the far left communists. Other people call them clowns.
In July 2015 we had very severe capital controls when one could only withdraw 60 euros from the ATM daily. That might be OK for the majority of Greeks because only a handful number of people could make more than 1800 monthly, but it was a tragedy for those who needed liquidity, company's merchants even gamblers. On the other hand, gamblers who had their balances in bookmakers and e-wallets were the only people who could withdraw more than 60 because cards issued abroad were let free to withdraw up the limit set by the card issuer. It was very relieved to be a pro gambler during the days.
Now, we still have capital controls in Greece even if the Communists and their friends in the EU say that all controls are lifted. This is a big lie.
This crisis change the way Greeks see banks and the state. Many people kept their money abroad and are bringing in Greece only the amount that they need to survive. I believe Greek banks and the state will not be trusted again by Greeks for generations to come.
If you have more questions about the Greek or the Cypriot crisis ask freely.
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shinycarletto
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shinycarletto

Re: betting portfolio related to financial crisis
« Reply #2 on: December 18, 2018, 12:08:36 PM »

Thank you very much for sharing you experience; so in the end for the people during the crisis was more safe to have money in the books or ewallet than banks. And I wanted to ask you that having this acces to instant liquidity where no one had it was useful to buy stuff like houses ecc. at lower prices due to the need of liquidity from the sellers? By the way here in Italy i’m Keeping my money in books and ewallets cause italian banks have the 30% to go bankrupt in 10 years and we studied it in our risk management class so I think that Italy will repeat the Greek story but with an higher magnitude
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cortomaltese
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cortomaltese

Re: betting portfolio related to financial crisis
« Reply #3 on: December 18, 2018, 01:10:48 PM »

Keeping your funds at books or ewallets may seem safer option than banks in a crisis situation but by no means can be considered safe option
Just  don't put all your eggs in the same basket
Diversify your fund storaging means , cryptocurrencies , cash , ewallets , gold  is just a few examples you can use depended of the size of your funds
« Last Edit: December 19, 2018, 09:05:08 AM by cortomaltese » Logged
shinycarletto
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shinycarletto

Re: betting portfolio related to financial crisis
« Reply #4 on: December 18, 2018, 02:10:52 PM »

Yeah I know how to diversify a portfolio sadly i’ve not such a big amount to diversify in a better way cause I need my liquidity for betting purpose right now. 
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neopas
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neopas

Re: betting portfolio related to financial crisis
« Reply #5 on: December 18, 2018, 03:19:01 PM »

And I wanted to ask you that having this acces to instant liquidity where no one had it was useful to buy stuff like houses ecc. at lower prices due to the need of liquidity from the sellers?

Not really, because you had/still have to prove that your money is clean. The Communist made several laws and they consider money as clean, only if it is deposited in a bank in correlation to your annual bank statements. After that they made some other laws about ''proofs of good standing'' where your capital is reduced every year according to your car, your home etc.
Even if you have kids, you are considered as reach and you are taxed for them.
To be fair, those before the communists were equal in behaving and tax implementing.

I think that Italy will repeat the Greek story but with an higher magnitude

To me this will not happen for a number of reasons. First because you have a real government and not clowns. Second because Italians are lining behind the government. Third because euro-elections are coming and the Crypto-communists of Brussels will be defeated.
Lastly, because you could adopt a position like Spain's who is indeed bankrupt but covered everything behind ECB's programs.
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ilovethisforum
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Re: betting portfolio related to financial crisis
« Reply #6 on: December 18, 2018, 04:06:50 PM »

Money diversification across countries and continents!!! Also, one rule that i have for myself is,to never have money to a bank which is incorporated in your country that you live. Because if a crisis happens in your country, these banks will be the first that will get hit, so if you have your money abroad, you will have time to slowly adapt without a panic and capture any opportunity. If on the other hand a crisis comes in the country that you have your money to,in the worst case scenario, you can still work in your country that you live because the crisis will not be in your home country. Win win.
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