what is going on with investnow.lk

Chinwi wrote:@econ,

I have never used margin or much broker credit. With the new situation after SEC rules introducing day by day I also thought going for it, using only part of my portfolio.

As I dealt with Sampath for long term I selected them. They give 13% interest.

You have to open a custodian acct with them and transfer all or part of your portfolio to it as per your requirement. They give 50% worth margin facility from a new current acct open dedicated for this purpose. If you have online Sampathnet you can connect it to see daily balances. You do not get cheque book facility or online money transfer from that acct. To get money out from it they issue internal cheques when we request.

Opening process takes about 1 month. They will see your other income and performances in the market before allowing the loan. You cannot use SAMP shares to get margin. You cannot buy default board shares using the margin. They discourage buying manipulated worthless shares too.

You have to pay interest monthly for the amount you used. Interest calculated daily basis same as ODs. If you earn profit by trading that can be used to pay the interest.
If you use earned profit to buy more shares they will raise the margin if requested.

Hence, my strategy is use part of the facility for medium/long term sound stocks and do some trading to earn money to balance the interest payment.

If you use total margin facility against your portfolio and if your own portfolio value fell to 90% then you have to find money to buy another 10% worth shares to keep your portfolio value or deposit similar amt of cash to the account.

thanks

---
Sampath Margin officer : Mr. Indika Liyanage , 1st floor, City Branch ( near Lake house).

mono wrote:i want to get margin but i doubt they'll give it to me considering i don't have any other job and have been doing this for less than an year.

I do have some land in my name, I wonder if i can use that as collateral

tubal wrote:

mono wrote:i want to get margin but i doubt they'll give it to me considering i don't have any other job and have been doing this for less than an year.

I do have some land in my name, I wonder if i can use that as collateral

Woah there, you've quit your job to become a full time trader?
even so I don't think it would matter. Since this i very different from a personal or housing loan, your fixed income would be immaterial, come to think of it, I don't think they asked me what my salary was, when I sent in the form.

Chinwi wrote:

mission wrote:
u think they are going to come out with the same name... i dont think so... there will be so many people impersonating some of the credible people at investnow.lk in this site. who knows who will come as chinwi.. one day is enough to do the damage...

Hi mission , wow ! you remember me ! glad to see you again.

Hi monster, econ , acadamic , Hasi.... others.... IM HAPPY TO SEE athe GOOD PEOPLE ARE HERE.

mission, No one can come as me. I have already registered the same name here , long time ago indeed! I only forgot the PW. Now I got a new to my email.

Dear friends, for me its safe !

its same Chinwi :-)

Chinwi wrote:@econ,

As far as I know, no other cost.

With some providers, I think you have to pay 1% or something of total value of shares transferred to their holding at the beginning. pl verify this also before selecting a provider.

@ newcomers,
MT is good in this kind of markets. you pay 13% interest per year and if you buy @ 10 and sell at least @ 11.50 even after 1 year you are safe. Most important - you have to know about you, your knowledge about finance & markets. I have seen newcomers who have 1-2 years experience in stock market go for MT and face lot of troubles with speculative shares.

mono wrote:from that clip he's posted it looks like SEC people were involved. frankly, while this is not rehan's fault, something had to be done. it was getting out of hand. i'm willing to bet that a large chunk of PCH movement was because of the ad campaign on the site, i don't like how even MW goes about his business. his post are blatantly promotional and one sided. And these people like krishan & sumithre should have been banned a long time ago.

nimantha80 wrote:we were there in investors also. Sachith also there.Can remember more people
Chinwi
slstock
smallville
innam
stumpy
marketwatch
godswen
econ

good old days where chickens,LCEY,CFLB,PCH,ILLIQDS hit the roof

cseguide wrote:

nimantha80 wrote:we were there in investors also. Sachith also there.Can remember more people
Chinwi
slstock
smallville
innam
stumpy
marketwatch
godswen
econ

good old days where chickens,LCEY,CFLB,PCH,ILLIQDS hit the roof

add cseguide
cse.see
as well.

innam is the best stock analysis I have seen ever. where is he now.
I earned millions from one stock that good all days.

EquityChamp wrote:

cseguide wrote:

nimantha80 wrote:we were there in investors also. Sachith also there.Can remember more people
Chinwi
slstock
smallville
innam
stumpy
marketwatch
godswen
econ

good old days where chickens,LCEY,CFLB,PCH,ILLIQDS hit the roof

add cseguide
cse.see
as well.

innam is the best stock analysis I have seen ever. where is he now.
I earned millions from one stock that good all days.

Ok where are those? Are those not interested about this forum now?
And also what about us?