Originally Posted by
pierre
My daughter, who lives in Oz, has been diving a little too deeply ( for my liking) into the funds she received a year or two back following separation from her husband.
I phoned her on Sunday and asked her to send me $A100k as I had a good investment for her. I purchased 150,000 PEB for her at 74 on Monday and was mildly concerned when they closed that day at 72. Today, she and I are delighted that so far her investment has more than doubled in value in less than 48 hours.
I know it's not wise for her to have all her eggs in one basket, but it feels like a pretty good basket right now. In addition, as a good Dad, I undertook to underwrite any losses that she might incur.
So I've now got MY hands on the funds which will stop her spendthrift ways, her equity has improved dramatically and I can sleep far more soundly knowing I wont have to be bailing her out of financial strife in the future.
Thanks to Hancocks, Sparky et al - without your input on this site I would never have taken the plunge. (My wife and I also have a substantial holding in PEB too.)