In a panic - lost $50K in 9 months - Aussie Stock Forums

Results 1 to 2 of 2
  1. #1

    Default In a panic - lost $50K in 9 months


    Been lurking for awhile trying to educate myself some more - not in a position to actively invest myself due to mortgage & business factors. But I am in need of some advice - I will also talk to a financial advisor on this one.

    My friend has put herself into a huge mess which I just discovered last night. Through a series of tragic incidents she had $100,000 to invest last year (before I met her) & didn't know what to do with it. She has no idea whatsoever about investing, the stockmarket, etc.

    Her accountant advised her to invest it in a UBS Cash Management Trust in September 2007. It was divided among only 6 stocks split between equities & property: ARG, AFI, MLT & CNP (Centro!), GPT & VPG.

    They have all tanked, especially the property groups. Twelve months later her $100K is now worth only $50K! As far as I can ascertain she was never advised to re-balance her holdings which I think is gross negligence from UBS. And from her side she took no active interest so is also to blame obviously for doing nothing earlier (but, as I said she has no idea about money & was simply following advice from the supposed experts to keep it safe & earn a little more than the banks).

    What should we do? Such a massive loss...in a panic. Get out completely & stick it in Ing Direct until the market calms down & she learns how to manage her finances? I understand that the loss can be offset against future capital gains...but now we'd be hesitant to re-invest in the market, so those gains might be a loooonnggg way away.

    We will talk to a financial advisor....but also looking at all avenues for advice.

    Cheers for any help.

  2. #2
    Administrator Joe Blow's Avatar
    Join Date
    May 2004
    Blog Entries

    Default Re: In a panic - lost $50K in 9 months

    Hi Suprok,

    We do not allow threads on ASF where people ask others for specific financial advice (i.e. how to invest their funds). See this thread for more information: http://www.aussiestockforums.com/for...ead.php?t=9533

    It is not legal for unlicensed individuals to offer such advice.

    All I can suggest is that you consult a licensed financial adviser.

    This thread is now closed.

Similar Threads

  1. 6 Months Off - What would you do?
    By theasxgorilla in forum General Chat
    Replies: 24
    Last Post: 6th-March-2007, 06:09 PM
  2. Chart TV - how to determine the best months to trade
    By charttv in forum Trading Strategies/Systems
    Replies: 3
    Last Post: 8th-May-2006, 06:20 PM
  3. Investing 30k for 6-8 months
    By Ritzshine in forum Beginner's Lounge
    Replies: 4
    Last Post: 18th-April-2006, 07:29 PM
  4. Stocks Drop More than 50% within 6 months
    By krisbarry in forum ASX Stock Chat
    Replies: 14
    Last Post: 11th-May-2005, 03:05 PM
  5. How to lose $900,000 in 3 months?
    By Investor in forum General Investment and Economics
    Replies: 20
    Last Post: 7th-May-2005, 10:03 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums