Fed Up

  • Ok I'm really not sure what is going on but I have over 10k invested in the football index and there is no direction, no advertising and my portfolio just keeps declining even though I have good players invested in eg Jack Grealish. When are we going to get the platform moving again or does the Football Index just want to go bust?

  • Im in the same position as you mate - same size port.

    What I did is list everything at cost plus 2% and just time out for a week.

    Then just decide what you want to do with what you can sell.....took me 40 days to sell £1k.

    I am taking mine out, but I have also written down what I 'would' have done with it, and I could make around 10 to 12% after the commission for buying and selling.

    So new money can make money - I wouldn't suggest selling at a loss to chase wins again. But I would suggest putting everything up for sale and wiping your feet.

    My gut feeling is FI are allowing the storm to pass, both order book fuck up and real world covid....then next year we will get hit with a beautiful promo and deposit bonus - so if you can, and don't need the money - list and chill - I used to sit on the toilet at night and worry about it - seriously 2 / 3 in the morning and I didn't really need the money - but I was seriously worried....but I now have an exit plan and am working towards it - i also have a new investment plan ready for when the time comes.

    Maybe have a play about on FootStock, Sorare, SportsStack for a bit of fun, 50 / 100 quid and let FI tick over....

    I don't know you mate - but chat away using this thread of DM, lets get you out of 'fed up' mode.

  • But they are advertising .... there was an advert on TV last night

  • @Gary-T They had the advertising boards at some grounds this last weekend.

    I reckon just hold on till after christmas. There's bound to be a turnaround

  • @o_O @Gary-T

    FI need to ask themselves a couple of Q's: Who are they aiming those adverts at? & what sort of acquisition & retention rates can they achieve, under current market conditions? Any idiots can throw money away on adverts but unless it hits the target audience & results in gaining & retaining some new customers they may as well save the money & put it to better use.

    I couldn't in all sincerity recommend joining the platform in it's current state to anyone could you? & I suspect anyone who wants to join will research the platform before signing up, so may well be exposed to both Social media &/or Trustpilot reviews which are likely to at least raise a few questions.

    FI need to fix the current plethora of problems & deliver on the many unfulfilled promises before even thinking about further advertising IMHO.

  • @Millerman this is a great response, and I think your situation will resonance with a lot of traders on the forum.

    I’m not sure I worry about the direction FI is heading, my worry is more about whether they have eyes on hoards of new traders and have lost focus on the last 12 months or so of sign ups thinking the new money will replace it. That’s fine, and almost admirable that they have goals of growing the product, but how many potential whales will have been put off by this years behaviour, and how many will be put off by comments, reviews and the general black clouds of recent months? Or even worse, how many will have moved to new products, which make them look more attractive to new sign ups? The hoards of future traders will need a good reason to invest in FI, and there’s not as many now as there was previously.

    I too have listed my portfolio, a little higher than 2% in some cases as I (maybe foolishly) think they are still longer term value, but I’m hoping to pull as much out as possible between now and April at decent prices. While I know there will be a lot of people using this as a 3 year bet, I’ve been on over two years already, most of my profit has been wiped out in the last 5 or 6 months, and my end goal is April when my car lease comes to an end.

    I’m not looking to leave completely, I’m hoping I can keep my holds in Bruno, Kimmich, Messi, Lewa and maybe one or two others for divs and to still enjoy FI, but on a much smaller scale as the rest will come out as soon as someone meets the sell price I’ve set.

  • @Geronimo159387 They've definitely held off advertising for a while.

    Before order books came in I would see adverts all over the place. On twitter, on my fantasy football app (good idea) and TV adverts quite regularly.

    The one I question is sponsoring the shirts of TWO championship teams. Seems like it would cost an absolute fortune, and wouldn't really get anywhere.

    With regard to whether i'd recommend people join... i think anyone that joins now is pretty much guaranteed to make money if they choose the right players.
    That's assuming FI doesn't go bust, which is starting to be a concern of mine. Everything they're doing at the moment, new IPOs, commission on bids... which they know will have a negative affect but doing them anyway... those are not the actions of a company flush with cash.

  • @o_O

    Whilst I'm comfortable about their current financial health, no company however much cash they have, can continue to burn & drive away it's customers in the way we have seen recently & remain successful. Whilst the underlying product is strong & the dividend yields are generous (spectacular if you get the correct player) the constant self harm being inflicted by the mismanagement of the platform is resulting in not just an exodus of traders now but also building a seething resentment amongst the remaining traders of how disgracefully they have been treated.

    This will most likely result in exit strategies being planned to coincide with any market or price recoveries in the future, so any period of sustained market growth may be many months if not years away & that permanent reputational damage & inability to retain previously loyal & trusting customers will eventually feed through into financial weakness as well as squandered growth opportunities.

    FI really need to step up & show some strong & competent leadership & PDQ to arrest the current slide IMHO. It's not yet too late but the longer this decline is allowed to fester the harder any recovery becomes.

  • @Geronimo159387 The thing that makes me relatively blasé about the whole thing, is that at the end of the day, the prices won't keep dropping, and people are greedy.

    There's no way that people who've been with the product for years and sold out will sit by and watch the prices shooting up and say "glad I'm out of it". Pretty much every one of the disgruntled customers still wants to see the product succeed and would get involved again in a heartbeat with any sign of turn around.

    FOMO is FI's biggest strength.

    As you've said, it won't even take much to turn the tide, and we've seen prices can now shoot up at almost incredible rates, and when they do. They all come running back.

    They will have tried sportstack, footstock etc, and found them boring. Nothing in this sector is as good as a fully functioning FI.

    Eventually the management will stumble across a winning formula again.

  • @Geronimo159387

    well said - i keep thinking 'how can my port keep going down' and 'it mustve surely bottomed' but just seems to keep dropping.

    i was on 80% profit and then got stuck, not being able to act/sell - my profit now sits at 13% which is around £9000 down on peak.

    yet i still am positive of FI future - just wish i could take my remaining balance and start again from today - but not that simple

  • @Geronimo159387 This is the crux of the problem. They may be in a healthy financial position now (I'm a little suspicious about this claim) but the market crashing and people leaving is bad for them and it's bad for us. It doesn't matter if they are making money from commission now - they need to keep making money from commission. And the introduction of buy commission and reintroduction of IPOs suggests to me a need to bring in money off the back of increased dividend payouts and marketing spend, despite the fact that neither of these are helpful to the market.

    Yes there are good prices now - yes there are good yields. But that's irrelevant when there is a lack of market confidence. The problem is not that the potential returns are good - but that this potential is endangered by mismanagement which puts the very future of the platform in jeopardy, or at the very least can be seen to do that, by those worried about being able to get their money out.

    The IPOs suggest FI do not understand their platform or market - and that's fucked. We are being fucked by them and unfortunately, there is no way of interpreting where the bottom is at present. I've had insanely low bids accepted this morning, only to see them drop further today. And although there will be a bounce again there will also be another crash. It's an exhausting volatility that will keep costing FI costumers and us liquidity.

  • i have around 1.4K trapped in there and have done since FI decided to announce a net spend bonus 2 weeks before they announced they were removing IS and announcing a one sided order book that could only force more money in

    i knew something wasnt right then and thankgod ive not put another penny in since ive come to the realisation that i will be lucky to get 500 of this money out and that will be by a miracle the rest has been effectively written off by FI's incompetence and a very spooked market

    for you guys with 10's of thousands in i am really sorry but i think FI has pulled one of the greatest financial Ponzi schemes in modern times im being sceptical but i cant see how they solve the ever growing issues within the product

    there was never anywhere near enough money in the market to shift to an order book system and we are no longer betting on the performance of players we are betting on FI's management of the product

    a bet with the knowledge i have now i wouldn't take given 5000/1 odds

  • @NewUser408165 Dead right in what say.
    If I buy a player today I'm more hoping FI get their shit sorted than if he performs on a given match day.
    Just utterly depressing and makes you think what's the point in all this🤔

  • If people are genuinely concerned about the product, I suggest they are best selling up & leaving.

    Put your mind at ease that way. 👍

  • @Ericali I'm a little less 'straight to the point' but have to agree.

  • i wish i could sell up most of my players have no liquidity in them im literally waiting watching every game praying for a goal or assist so i can pass the buck onto some other poor mug

    even if you hold "div pigs" i promise you FI will not be able to sustain this div table for long without a massive influx of fresh cash so they are caught between a rock and a hard place ( reduce the table or go bust)

  • @Ericali where do you personally see the platform going in say the next 12 month? I agree with what you are saying and personally I haven't sold up any of my holding but this week has been another blow after it appeared like we were seeing shoots of recovery.

    Are you just keeping your existing holding and taking the generous dividends? Personally I've been spending the dividends on more dividends big hitters but cant work out if I'm crazy in doing so. I mean if the dividends aren't covering the drops then what's the point.

    If I lose all my money then its not like its the end of the world, I can live without it but ill be royally fucked off given the position I was in 6 months ago.

  • I think it will turn around we are in crazy circumstances at the minute timing in the year (Christmas) COVID , OB if I had 10k handy I’d still invest it’s just a case of rebuilding the pyramid and the people that hold on will eventually be at the top in a few years time

  • @Ericali

    That's fantastic advice...or it would be if it was that simple. Many people are in positions where they couldn't sell up, take the loss and leave even if they wanted to. Not because they couldn't afford to stand the loss, but because there is no SELL price.

    I appreciate that many of the eternal optimists who think everything will be alright in the end find "whining" posts counter productive, but reality is that if you are not concerned every time you login to see the value of your portfolio constantly shrinking despite the fact you are earning dividends, then you should be.

  • @strongy I can only advise to log out then for 6 months - or when it does go up (like it did 2 weeks ago) use that opportunity to get out instead of holding firm 👍

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