UK Investment SIPP blog for the longer term

Surely Jim Cramer will have to resign or face the sack after being exposed in his own moronic video as an alleged market manipulator, a serious securities crime. His next week will be bumpy. Fellow presenters will shy away from him incase they are associated with his tricks and pulled into his credibility black hole. I feel that the US public may demand a public hanging.

However, surely the whole CNBC network is to blame. CNBC Executives should be first in the villification cue, but they will push Cramer’s neck out there first.

I’ve made a couple of new purchases for my SIPP that I thought I’d mention. I’ve bought RBS and Lloyds quite aggressively. My reasoning is that the government has insured their toxic assets. Also, Lloyds may find that it quickly starts to get cashflow from Joe Public as they are such a big mortgage player and that the public are repaying their mortgages as fast as they can. Therefore, I don’t see Lloyds going out of business.

RBS on the other hand is a more risky prospect as so much of past revenues were made from investment banking. However, as long as they are not nationalised, there could be great upside. I got in RBS around 20p and Lloyds around 50p. I put the biggest proportion into Lloyds.

P.S. my SIPP is now around £11,000 – I’m now nearly immune to the losses.