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A slow recovery? #financefriday

I didn’t do a finance post last week because the stock market was closed and there wasn’t much to say. There now seems signs of recovery despite the rise in covid cases. It is going to be a slow recovery, however.

slow recovery


Investors have mostly been selling gold and buying stocks and this week cryptocurrencies too. I don’t much like cryptos but I did have $30 in my eToro account last week so I put it into XRP (Ripple) and that is giving me a return of over 8% so far!  That’s high risk but I can afford to lose $30. XRP Is at 31 cents today but it has been as high as 80 cents so I’ll watch and wait. I’m still only making a few pounds on eToro because I deposited my money when the pound was low and the dollar high. It is something of an experiment and I still don’t know how dividends are paid but at least I’m in profit. Most retail investors lose money on eToro. Overall nearly every investment is in profit except the pharmaceuticals, AstraZeneca and GlaxoSmithKleine. I do try to invest ethically and both AZN and GSK are good companies to invest in now.


The oil price went up following the OPEC meeting and so did my shares in Shell and BP. I also invested in Exxon on the eToro platform. Oil is now over $50 a barrel, up from a low of $38 a barrel. Oil companies will now be back to profitability at that price.


The banks are still a good investment but have suffered uncertainty because of Brexit. They will have to play on a level playing field when doing business in Europe but that is only fair. I think they can still innovate with the use of technology and apps but European regulators will be unhappy if they try to overcharge customers or treat them unfairly.


Lockdown is bad for the hospitality industry and M&B  asked shareholders for more investment this week. The travel industry is suffering too. I talked to the director of an international business today that said online sales were booming so it isn’t all bad news. Investors need to spot trends before they happen and invest accordingly. A time will come when the travel industry and the leisure industry might be worth consideration. There will still be bargains for investors who do their research. In fact, most people in lockdown should use the time to do research and prepare for a slow recovery.

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