Right now Z is trading occasionally with the aim of supplementing his ‘day-job’ income. His current trading strategy means he tries to:
a) trade just one market (the FTSE)
b) make relatively few trades
c) make lower-risk trades
d) not let the sleep-loss caused by his new baby girl trash his judgement
We’re In The Press. Ooops. Or Hooray?
Wow. Little old paddypowertrader made the headlines today. Check a few of these out from the BBC, the Guardian, the Scotsman, Sharecast and even Reuters.
By the way apologies for this not being a ‘Trade Diary’ blog – but I don’t have anywhere else to stick it.
So, a lot of kerfuffle over what I thought was a clever ad that ran in the middle of the sharpest bear market for years.
If you haven’t seen it already, here’s the ad (sorry for the low quality):
A lot of the news stories seems to have missed the fact that the ad is a play on the word ‘Short’.. i.e the guy has made money ‘being short’ and you (the audience) could make money taking short positions in the market.
The ad was a ‘mare to make - our PR lady, Michelle, had a hell of a time sourcing a dwarf for the it. We were trying to make it in December and all the short guys had found ‘seasonal’ work … in pantomimes. I swear, I wouldn’t have the imagination to make this up!
Anyway, what do you reckon about the ad? Is it good? Rubbish? Fun? Exploitative? Does these news stories make us look bad? Or is all publicity good publicity? To use chat show DJ coinage, ‘have your say’. Use the ‘Leave A Reply’ box below.
Z
April 23rd, 2008 at 3:47 pm
I saw it on a billboard and I though it was funny. Not sure a lot of people would have got it though.
April 23rd, 2008 at 4:02 pm
I thought the Ad was quite good; clever and amusing. The press articles seem to be focusing on the fact “people of restricted height would be appealing to children”. I think thats ridiculous given the fact that FSA regulations wouldn’t allow under 18’s to spreadbet.
Personally, I thought it was quite tastefully done. The model doesn’t exactly look put upon. In fairness, the people the ad was obviously targeting know what 2shorting” is.
Probably just a storm in a teacup, caused by the over-zealous p.c. brigade.
April 23rd, 2008 at 4:03 pm
I think that the ad is cute and quite funny if you know what it means to go short!
These guys just don’t seem to understand financial terms very well…and they need a better developed sense of humour!
April 23rd, 2008 at 5:15 pm
As ever, it’s the politicians that are to blame — the guys at the ASA are just implementing cack-handed Government policy handed down in the Gambling Act.
Has to be good news for PP, though. I can’t remember them getting a mention on Radio 4 before and, together with all the other coverage, should help raise the profile. Can’t imagine many people heard the news and thought “Oooh, what dreadful people those PaddyPowerTraders are, I certainly won’t be taking my spreadbetting business there”.
April 24th, 2008 at 8:56 am
It’s not your fault that Financial Spread Betting makes you irresistable to everyone!
We just need to keep on fighting the good fight people.
April 24th, 2008 at 9:29 am
Morning peeps
ken-are you loaded up with rice in your SIPP? Although it has risen 26% this month it could have much further to go, according to some suggestions.
Reading this morning that Sam’s Club (part of Wal-Mart) is restricting purchases to 4 bags per visit in those states where it can legally impose a restriction. Japan (the world’s biggest food importer) is to ask the WTO to stop countries restricting rice exports-so things might be getting a bit fraught out East.
POT figures due today: looking for about $1.50 on $1.7bn of revs.
April 24th, 2008 at 10:09 am
Best I’ve done so far is buying one of those giant bags of Basmati from Tescos but got lots of flak from the missus cos of the space it takes up in the cupboard.
I’m a big fan of ETCs for commodities but there’s nothing there for rice — do you know a good way in? This one’s been building for a while and the fact it’s now front-page news means we could be getting into bubble territory. Which is fine so long as you’re not the greatest fool as it plays out.
April 24th, 2008 at 12:28 pm
I’ve had a word,but the best method so far appears to a spread bet on the future.
If anything else turns up on the basmati front I’ll let you know
July 27th, 2008 at 8:19 pm
Lol, …i do see where the regulators are coming from though. Financial spread betting (the profitable kind) is a very serious and difficult activity with an unforgiving learning curve and the potential to drive you completely bonkers, just like other forms of gambling. But, i suppose if you didn’t laugh you would cry.
July 28th, 2008 at 9:05 am
Dunno Aaron. No doubt that financial spread beting is a serious business and is difficult as you say. And yes it can drive you bonkers. But does that make it any more similar to gambling than anything else .. I mean all of what you said also applies to investing.
Been looking through the old posts this morning? Quiet start…?
July 28th, 2008 at 4:45 pm
That’s true Z, it might also be that the typical investor’s role has changed spectacularly. Didn’t see myself as the investing type, but i don’t like to call myself the gambling type either, so investor it is then.
I suppose what this form of financial spread betting does like never before is to open Joe Public to a whole new level of access…this might be irking the regulators and enticing them to clutch at straws. But not to worry, any publicity is….
These blogs are great btw …i have nearly read them all! Good job. Its good to hear from actual traders, i think thats a smart move from PP.
July 28th, 2008 at 4:48 pm
Glad you like them. I shall be using your comment next time I’m looking for a pay rise! We did a survey on the blogs recently, not sure if you took part. However I’d love to hear what else you’d like to get from the blogs. Anything else that would be helpful for us to cover?
July 29th, 2008 at 2:46 pm
It’s hard to say Z, there are a lot of people at different levels of learning so i cant speak for everyone. Speaking for myself, i am a relative beginner…so i scoff down anything i can get my hands on, perhaps too much atm.
What i have started looking for is more sites like ,
(.mizuho-cb.co.uk/TresInternet/TECHNICALS/FX_-_Majors.htm) , they give daily analysis on fx, and an insight into how a professional technical analyst might be thinking and acting(that’s if they actually are professional!), so i spend some time now and then doing comparisons of different strategies they and other sites offer. I don’t trade Fx yet, but i like to check out these predictions. I know it would be too easy if all everyone did was to follow tips all the time, so i dont use them atm but some of the ‘predictions’ are interesting.
July 29th, 2008 at 10:33 pm
Cheers for that Aaron. When I get a moment I’ll look at that website. As you say though, if following tips really made consistent money everyone would be doing it. At the beginning its good to ’scoff down anything…’ if it helps you to find your niche.
I am hoping to ramp up our Technical Analysis coverage at some point soon. Mean time if you have any more comments on the blogs do let me know.