Saturday, February 2, 2008

JTIC dividend paid !

Once again, I'm happy to have bought JTIC shares. Even if JT Financials can not officially offer a regular and fixed dividend beacuse of the banking ban, they continue to pay dividends regularly.

I just received the last one, and obviously I re-invested it in more JTIC shares !

Tuesday, January 22, 2008

Update about JT Investment Certificates

Arbitrage Wise posted today an update on the SLCapex website about the JT Investment Certificates. To comply with the new LindenLab policy, the JTIC are no longer paying a fix interest rate.

Instead they are now a classical investment company with a target of 0.06L$ monthly dividend per share. I dont exaclty understand why this was a need, as the shares are not exchanged within SecondLife, but the move is smart and bottom line is the same, if not better ;-)

The exact information from Arb can be found here:

We will now see how things will go on, as today is the day LL will supposedly remove all ATMs from institutions paying interests...

Sunday, January 20, 2008

JTIC share back at original price

After some strong fluctuations, the price of the JT Investment Certificates (SLCapex: JTIC) came back to its original level, in the 1.12L$ range. When JTF created the JTIC, I bought a bunch of them for 1.05.

During the last weeks, when the banks ban announced by LindenLab shook the banking industry, I was lucky enough to buy a second batch of JTICs at 0.65L$ each. This was kind of a risky bet, but now that the price is back, the question is to know if I must sell some of them or keep them all.

As I continue to trust Arbitrage Wise and the guys at JTF, I will obviously keep them !

Tuesday will be an interesting day as it will be the limit date defined by LL to remove the ATMs... As JTF no longer pays interest, I wonder if they will remove them or not.

Tuesday, January 15, 2008

End of the challenge ?

Arbitrage Wise very recently announced that JT Financials will be reshaped in SL Wallet, and amongst decisions result from the banking ban, cash deposits will no longer produce interests.

Those of you who read this blog from its inception (thanks a lot...) know that interests are VITAL for me as sole camping or similar activities are not sufficient. It that the end of my challenge ?

Not sure... At first the JT Investment Certificates still exist. They are not paying interests but dividends. Their future is not clear yet, and I will wait for further news.

Moreover I have other investment ideas, but I don't want to tell too much about it now... suspense...

Nevertheless if I decided to end the quest now, I will stick to the rule I defined in the very beginning and award all my earnings (roughly 23'000L$) to a member of the "Free Money from JohnLight Raymaker" group in Second Life. It is not too late for you to join the group !

Monday, January 14, 2008

A message from Arbitrage Wise

In these turbulent days where the SecondLife banking industry is under high pressure, it is important for me to support Arbitrage Wise. Not only because he helped me with my challenge, but because he is helping all of the SL community with financial services.

Given how busy he is, his answer was short, but he nevertheless answered. Here is his message to you:

"Thanks John - just tell your readers to join our JT Financial group, read the announcements on Capex, and read our updates on to keep updated with our current situation..."

So if you're anyhow concerned by what goes on, you know what to do. Thanks Arb, and go on !

Saturday, January 12, 2008

Eggs and Basket

As Mr. Oh very appropriately commented on my last post, I'm putting all my eggs in the same basket, and it is true that last time (Ginko...) this strategy gave catastrophic results.

However the think is a bit different this time, because all of the banking industry in SecondLife is at risk with the new ruling LL seems to put in place. As I already explained a bank is vital for me to achieve my goal.

So if all baskets fall down, my eggs will be broken anyway. As I have not a lot of time, diversifying outside banking is not possible, so the fate of my quest is strongly bound to the fate of SL banks...

Wednesday, January 9, 2008

Banco ! All In JTIC !

The anouncement by Linden Lab to remove all ATMs except those from registered banks (?) created a huge bang and mini-panic on the stock market.

My personal decision is to call for "Banco !" and put all my money in JT Investment Certificates ! So I now hold 20020 JTIC shares and no "cash" on my SL Capital Exchange account. I made this investment for three reasons:
  1. Show my support to Arbitrage Wise and all the team at JT Financials
  2. LL's new rules seems to apply to interests, not dividends ;-)
  3. Thanks to some selling lemmings I could get JTIC shares for 0.65 L$ each !
If JTF was to fully collapse - which I think will not happen - I will lose everything. Anyway my challenge can't be achieved without a bank paying interests...

I wish new successes to JTF and Arb ! You have all my support, guys !

Tuesday, January 8, 2008

LindenLab to regulate banks in SecondLife !

LindenLab posted yesterday on their official blog a post saying they will start to remove ATMs from SecondLide as of 22 of January !

The only way a bank could continue to operate in SL is to register with LL:

"We will not apply this policy to companies who submit a registration statement, charter, or other applicable license from a governing regulatory authority, or who are merely conducting marketing or education, but not accepting payments."

As a reaction, many people started to withdraw their money from banks, including from JT Financials and the SL Capital Exchange. Consequently cash withdrawals from JTF has been limited (see this post from Arbitrage Wise in the forums).

For the time being I do trust the team at JTF to manage this situation, even if I'm not really surprised by LL decision. My money is still by JTF and partly invested in SLCapex, and remember that even if the withdrawal stop may look "Ginko-ish" the reasons are totally different: Ginko was short of cash - JTF is not !

So no panic, and let's see how things will go on ! The LL decision is new, and JTF will submit for a registration, so the best for the time being is wait and see. There could even be good business to do !