What the fuck is going on?!!



  • Apologies if it's obvious but as the tittle says, what the fuck is going on?!! We had the initial crash that everybody predicted then it seemed to bottom out and started nicely going up again to the point where I was thinking "I'm not actually that far off where I was before all the order book crashes" however my portfolio has taken an absolute spanking and is down 20% since the start of December. Looking through the top 200 it's not just my players who are taking a hammering. I'm not on twitter so don't know what's being said on there but what on earth has caused this crash?



  • @9stevo

    Withdrawals to pay for Christmas shopping?



  • @9stevo Its a combination of things bud, the state of the world/FI right now, and xmas coming up.
    So you have people trying to leave for one reason or another and people trying to free cash up for xmas.

    So people are cutting each others throats to sell as there is only so much money about.
    It's a buyers market right now, IMO ofc.



  • @Boris999 yeah I was expecting a drop in December (its my third year on FI and it normally happens) but not to this extent. 20% seems wild (or am I just feeling it more than others due to the players I hold?)



  • @Kanzz fair play I don't want to sell anyway, I guess I'll just keep topping up PB holds at the low prices as the returns available are unreal right now



  • @9stevo Its not just your players its nearly all players.
    Hardly anyone escaping this🙄



  • @Gazz127 fair play, I have faith in my holds so will ride it out, just a 20% drop in just over a week is very disconcerting after it was starting to look like the worst had passed 😂



  • @9stevo 15.5% in 7 days for me😟

    I have holds that i have faith in and generally they return the divs.

    Just got to seize the moment when it comes around to top up them holds on the dip.

    This has made me far more aware that i need to trim my port and be more selective and i have done that.

    But back to your point..yeah WTF is happening here😟🤨😭🤯😷😭

    I would add that after the last crash the then rise was so dramatic that maybe that has contributed to this slide in prices somewhat🤔



  • Similar drop in the last week or so 12%ish. On the bright side I continue to rake in Dividends of approx 1% a week which includes IPD's but again I am finding that with players values dropping I am able to refresh them at zero cost with a little bit of time and effort.
    Provided that FI continue to pay dividends at the current rate then long term shouldnt be too bad - famous last words!!!!



  • @9stevo I was 10% down after initial crash, and now sit with negative 26.35%, so yes, seems anywhere between 15%-20% has been the average.

    Lets just hold tight, again.



  • Let's see if I can get them all in on one go... Bet I miss 1 or 2 though!

    Covid
    Christmas
    People waking up to new risk now no IS to FI
    Lots of subs and resting
    Competition popping up all over the place
    Loss of trust
    Lack of comms
    Loss of trust to previously deemed "guides"
    Shit tech, still.
    Market depth exposing how thin it all is
    Trading metrics showing FI currently losing money regularly
    Negative sentiment snow balling
    Career divvers still preaching despite a lot of the above
    PB has been a bit random on gold days, lack of divs reinvested
    IPOs introduced at a weird time
    Account manager recently showed what's he's about
    People waiting for a December bonus
    Lots of money trapped in lower end players
    Endless lies or absolute blunders from FI
    They're either liars or clueless
    Road map disappeared
    An apparent ex insider spilled the beans about problems FI are having
    @Coriolanus and @Ericali agreeing on things recently
    Some YouTube doing a risk video, months after @Tom7471 did pretty much the same thing and got ridiculed by those "guides"
    Some sort/rumours of law suit going on vs FI
    FI looking greedy or desperate with IPOs
    Too many rule changes, even when they put a rule in place to preempt things, they change it when its actually needed.
    The current market mechanocs
    FI being sneaky and tryi g to mint players like Evra!
    FI minting holding back cap app
    Their horrible Ts and Cs keep changing with little option of realistically stopping if we don't agree
    Lack of liquidity means you can't Stop if the fun stops your strapped in
    Yields mean nothing with this sort of cap dep
    Mismanagement
    FI dividend predictor advertising how hard it is to win pb
    Marketing stopped/slowed
    Trust pilot getting a beating
    Recent ad suggested you can cash out anytime... You cant
    Stingey new user offer versus other platforms
    Other platforms delivering development targets and managing issues they have
    New user trade 'risk free offer' actually full of risk
    Akash didn't have a clue on the podcast he did
    AC didn't have a clue on the last couple of tweet chats he did
    Pb score errors
    MB score errors
    Inconsistencies across pb and mb rules

    I'm sure there's more...

    Bright side, if you back FI to sort it out divs are great, and you can still make money trading. They must have big cash reserves to see them through. So far the competition seems quite niche, think FI is still easiest to get into...but they do need to hurry up or they'll get caught up and if so itl be a battle of the best payouts, money will go if payouts on a very similar product are better (at this moment they are not)



  • @Westy oh I forgot...

    2% commission on bids... Make a bet, but start 4% down... Or escape the 2% but buy at a much higher price probably.

    Expiration lingering... Will they give us decent notice... Remember Akash deems 30days enough... And although promising good warning of IS going, they didn't.



  • @Westy

    Am I right in saying that all minted cash has to be held in a separate account in case the business went pop, people would get their money back? Or have I dreamt this??

    I am sure when I looked to get into FI a couple of years ago - this fact (that's in my head, it may not be fact) was the one that made me invest?



  • @Millerman they probably used to have to do that when they were backing the is, now they aren't I'd imagine they dont need to



  • @Ddr That makes sense.

    Oh fuck!



  • Who knows, since the order books were brought in we've not had a great level of consistency.

    I'm not sure what is going on and what the future holds for FI. I'm not one of those who comes on here and slags of the product, but I will be seeing out the year and then see what happens. If things look like they are improving and we start to see consistency in the product great (we'll not be getting to the preorder book value levels anytime soon) but if the players values are going all over the place for no apparent reason then I'll sell up and leave.



  • @9stevo I'm only down 16% in the last 7 days but overall since all this shit began I've lost exactly half my portfolio value from its peak.

    I'm still hanging on hoping for a turnaround.



  • @Westy fuck that's depressing



  • @Westy Will you be on the trader panel?



  • @Millerman yeah I thought there were some additional protections due to them being accredited as Tier 1 by the Gambling Commission but I could be wrong, and also I imagine it's not guaranteed in the same way that bank deposits are guaranteed to £85k. I don't think FI are in a bad financial position however.


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