Bruce's journal (original) (raw)

A mere three months since I decided to dump all of my dumb investments, I've actually managed it.

The

VCTs I held turned out to be the biggest problem. I'd always taken it for granted that you could just sell a share at whatever the market was willing to pay if you wanted the cash - but it turns out not to be so. In fact, my VCTs were handled by a single broker and I couldn't sell until someone approached him looking to buy - all I could do was state my intention to sell and then wait...and wait...and wait...

Mercifully, I got rid of them in the end - for short of what I paid for them but I knew that was going to be the case when I decided to simplify my finances. All of which means I now have a reasonable stockpile of cash...to throw at my mortgage when I next change the policy (next year sometime).

Yes, yes - I'm going from one way of tying up capital to another...but at least this one keeps rain off my head; share documents get soggy and leak.