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: http://www.slcapex.com/home/story/JTIC/1358
We will now see how things will go on, as today is the day LL will supposedly remove all ATMs from institutions paying interests...
Showing posts with label SLCapex. Show all posts
Showing posts with label SLCapex. Show all posts
Tuesday, January 22, 2008
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 SLReports.net 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 !
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 SLReports.net 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 !
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 !
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 !
Thursday, December 20, 2007
End of year bonus - Thank you SLCapex !
My daily routine still do not allow for time in-world, but I keep an eye on my SLCapex accounts, and place orders when needed. End of december will bring in the second JTF Investment Certificates payment, and on top of that two good news came recently:
JTIC to offer Dividend Bonus & Early Dividend Payout
The early dividend is just fine, I would not have the JTF guys working on 1st of January, and there's not a lot to say about dividend bonus, except "Thank You".
SL Capital Exchange (SLCX) to Pay Special One-Time Dividend - 12/18/2007
As a large part of the 5'000L$ offered by Arbitrage Wise are invested in SLCX, this is quite good news.
JTIC to offer Dividend Bonus & Early Dividend Payout
The early dividend is just fine, I would not have the JTF guys working on 1st of January, and there's not a lot to say about dividend bonus, except "Thank You".
SL Capital Exchange (SLCX) to Pay Special One-Time Dividend - 12/18/2007
As a large part of the 5'000L$ offered by Arbitrage Wise are invested in SLCX, this is quite good news.
Saturday, October 27, 2007
Post number 201 - Looking back
This blog was born on the 1st of June 2007, 4 months and 26 days ago, and this is post number 201... a good time to look at all what I've done in SecondLife since.
I started with the goal of making money easily, using camping and banks. Simple plan, just a matter of how long I could camp and how much I could get out of the bank. I quickly learnt how find good camping spots, and how to re-configure the Second Life client to avoid being disconnected after 30 minutes of idle time.
While camping, I met people who are now good friends and who teach me a lot. I particularly think of Josephina Bonetto, who is now running Club Josephina. Jo also suggested to create a group to share ideas and good camping spots with other campers. I made it, and we are now 82 members in "Free Money from JohnLight Raymaker". Campsite sharing continues to go on, I regularly post good adresses to the group, and some other active members do it as well. It even happend that I used the group to find new campsites for myself ! I also decided that when I will get the 1'000'000L$, I will give it to one of the members of the group.
Jo also suggested to create an alt, a second avatar so as to be able to camp more, using my spare computer. I knew later than some SL players are running up to 8 avatars simultaneously ! When I met Jo, she was envisaging to buy a small piece of land to be able to change clothing in a quiet place... Not only she made it, but she is now running a night club and renting appartments !
As my wealth was increasing, I lost nearly all of it (10'000L$ by that time) when Ginko bank collapsed. This has been hard period, and I one lesson I learnt was to keep a separate reserve in a safe place. Since then I keep 10% of my total earnings apart. At this point an other important people comes in the story: Stroh Bing. He was kind enough to put me back on track, with a gift to compensate for what I lost in Ginko collapse !
Another problem hit the camping community at the same period: LindenLab made gambling illegal in Second Life. As gambling was a main source of income for camping operators, the number of campsites was strongly reduced, as well as the payrates and maximal earnings.
Another important people in my story is Arbitrage Wise, CEO of JT Financials, and SL Capital exchange. Apart from giving me very interesting inside views of a SL bank, he gave me 5'000L$ to invest on SL Capital Exchange ! Until now my results as a day trader are not exactly good, these 5'000L$ are now worth... 3'800 L$. Ooops. I'm still looking for better investment strategy.
More recently, I organized two contests to animate the little commuinity that is forming arount me and this blog. This was a good opportunity to reward friends I met through the group. They are way too numerous now to be all mentionned here, and I don't want to make any jealous... I won't cite bad people either, I'm in a positive mood right now.
To close this mini restrospective, I can say that what started as a purely economical quest turned into a passionating human adventure. It had up and downs, I met all kind of people, we exchanged views and ideas. I want to warmly thank all of you, who made SecondLife part of my Real Life...
And now, turn towards future, and see how to get this million Linden Dollars !
PS: Genie, you're the sweetest person I met in SL, I could not finish this post without talking of you.
I started with the goal of making money easily, using camping and banks. Simple plan, just a matter of how long I could camp and how much I could get out of the bank. I quickly learnt how find good camping spots, and how to re-configure the Second Life client to avoid being disconnected after 30 minutes of idle time.
While camping, I met people who are now good friends and who teach me a lot. I particularly think of Josephina Bonetto, who is now running Club Josephina. Jo also suggested to create a group to share ideas and good camping spots with other campers. I made it, and we are now 82 members in "Free Money from JohnLight Raymaker". Campsite sharing continues to go on, I regularly post good adresses to the group, and some other active members do it as well. It even happend that I used the group to find new campsites for myself ! I also decided that when I will get the 1'000'000L$, I will give it to one of the members of the group.
Jo also suggested to create an alt, a second avatar so as to be able to camp more, using my spare computer. I knew later than some SL players are running up to 8 avatars simultaneously ! When I met Jo, she was envisaging to buy a small piece of land to be able to change clothing in a quiet place... Not only she made it, but she is now running a night club and renting appartments !
As my wealth was increasing, I lost nearly all of it (10'000L$ by that time) when Ginko bank collapsed. This has been hard period, and I one lesson I learnt was to keep a separate reserve in a safe place. Since then I keep 10% of my total earnings apart. At this point an other important people comes in the story: Stroh Bing. He was kind enough to put me back on track, with a gift to compensate for what I lost in Ginko collapse !
Another problem hit the camping community at the same period: LindenLab made gambling illegal in Second Life. As gambling was a main source of income for camping operators, the number of campsites was strongly reduced, as well as the payrates and maximal earnings.
Another important people in my story is Arbitrage Wise, CEO of JT Financials, and SL Capital exchange. Apart from giving me very interesting inside views of a SL bank, he gave me 5'000L$ to invest on SL Capital Exchange ! Until now my results as a day trader are not exactly good, these 5'000L$ are now worth... 3'800 L$. Ooops. I'm still looking for better investment strategy.
More recently, I organized two contests to animate the little commuinity that is forming arount me and this blog. This was a good opportunity to reward friends I met through the group. They are way too numerous now to be all mentionned here, and I don't want to make any jealous... I won't cite bad people either, I'm in a positive mood right now.
To close this mini restrospective, I can say that what started as a purely economical quest turned into a passionating human adventure. It had up and downs, I met all kind of people, we exchanged views and ideas. I want to warmly thank all of you, who made SecondLife part of my Real Life...
And now, turn towards future, and see how to get this million Linden Dollars !
PS: Genie, you're the sweetest person I met in SL, I could not finish this post without talking of you.
Saturday, October 6, 2007
Financial update
My financial strategy is still the same, I put all my earnings (camping, group fees and shop income) on my JT Financials account, where they generate new income via interests. Parallely to that, to be able to restart in case of major issue with JT Financials, I put at least 10% of my total money by APEZ. I don't get any interest from the reserve, but it's not at risk.
I could also use my cash accounts for the reserve, but this increase the risk of doing silly things with it... For the time being, the reserve is at 2'000 L$, so I don't need to do any transfer today.
To show again how good is a bank paying interest, here is an overview of my JTF account since I opened it...
Total Deposit: 13'257 L$
Total Withdrawal: 1'201 L$
Total Interest 476 L$
Total Affiliate Bonus: 15 L$
Total : 12'548L$
If I consider my total balance, excluding the gift from Arbitrage Wise, it reaches 14'548 L$. The interests represent 3.3% of the total, which is not negligible !
In fact the percentage of interests in my total wealth is higher, depending how I consider Stroh's gift after the Ginko crash, because my losses included some ineterest generated by Ginko. Anyway, this would make the interest proportion higher.
This clearly shows how important the interests are, and with time they will be more and more important with the growth of my total balance.
If you're convinced it's time for you to open an account, you can do it via the ATM in the mini-shop (SLURL in the right side column)...
Regarding the 5'000 L$ gift from Arbitrage, my results on the SLCapex market are not exactly outstanding, as by the time I'm writing this post the total value of my stocks is 3'777 L$ ! I'm still working of strategies to get it better, and will post about it when I'll have found a working one !
I could also use my cash accounts for the reserve, but this increase the risk of doing silly things with it... For the time being, the reserve is at 2'000 L$, so I don't need to do any transfer today.
To show again how good is a bank paying interest, here is an overview of my JTF account since I opened it...
Total Deposit: 13'257 L$
Total Withdrawal: 1'201 L$
Total Interest 476 L$
Total Affiliate Bonus: 15 L$
Total : 12'548L$
If I consider my total balance, excluding the gift from Arbitrage Wise, it reaches 14'548 L$. The interests represent 3.3% of the total, which is not negligible !
In fact the percentage of interests in my total wealth is higher, depending how I consider Stroh's gift after the Ginko crash, because my losses included some ineterest generated by Ginko. Anyway, this would make the interest proportion higher.
This clearly shows how important the interests are, and with time they will be more and more important with the growth of my total balance.
If you're convinced it's time for you to open an account, you can do it via the ATM in the mini-shop (SLURL in the right side column)...
Regarding the 5'000 L$ gift from Arbitrage, my results on the SLCapex market are not exactly outstanding, as by the time I'm writing this post the total value of my stocks is 3'777 L$ ! I'm still working of strategies to get it better, and will post about it when I'll have found a working one !
Tuesday, September 18, 2007
Lot of camping - Losses on SLCapex
I have had some delays in reporting recently, as I was incorporating the results of the poll and your feed-back in my most recent posts. I also try to maintain the pace of my posts slow enough to let you time to read them !
Most of my camping time over the last week-end has been spent in the "Italian Sexy Club" in "Newt (107, 69, 53)". They have quite various rates, 2 / 10 (no limitation known yet), 5 / 20 limited to 80, and one 2 / 5 but limited to one cycle ! Some of their pads also require to be member of "Italian Sexy Club of Newt" group. I made over 300 L$ there over 4 days.
My investments on the SLCapex are not exactly doing well. The market is oriented downwards, so only long-term investments have luck to produce benefits. Day trading is really hard. For the first time today, the balance is below 4'000L$, representing a 20% loss ! Nevertheless, I still beleive that this will improve.
Most of my camping time over the last week-end has been spent in the "Italian Sexy Club" in "Newt (107, 69, 53)". They have quite various rates, 2 / 10 (no limitation known yet), 5 / 20 limited to 80, and one 2 / 5 but limited to one cycle ! Some of their pads also require to be member of "Italian Sexy Club of Newt" group. I made over 300 L$ there over 4 days.
My investments on the SLCapex are not exactly doing well. The market is oriented downwards, so only long-term investments have luck to produce benefits. Day trading is really hard. For the first time today, the balance is below 4'000L$, representing a 20% loss ! Nevertheless, I still beleive that this will improve.
Monday, September 10, 2007
Self-traped in SLCapex
My investments on SLCapex are temporarily frozen, as I made a bad choice. To increase my potential benefits, I wanted to do a quick buy, and sell at a slightly higher price, but a large quantity of shares. The idea was to benefit from market fluctuation, but with a sufficient number of shares to make such a fluctuation interesting.
That's the theory. In practice, the price of the share in question is just falling down since I bought, so I can't sell now, and have to wait for the price to come up again ! Bloody beginner !
That's the theory. In practice, the price of the share in question is just falling down since I bought, so I can't sell now, and have to wait for the price to come up again ! Bloody beginner !
Sunday, September 9, 2007
SLCapex end of week 1 - Can you beat the market ? I can't
The adverts for JT Financial SL Capital Exchange asks "Can you beat the market ?". About myself, the answer is clear: no. One week after receiving 5'000L$ from Arbitrage Wise, my portfolio has a market value around 4'300 L$. Even if the loss is virtual only as I did not sell yet, I can't say it's a great victory.
Neverthelss, I will contine to work on my investment strategy, and I'll report here when I will find a startegy... that works. But for the time being, here again no wonder: no money without effort !
Neverthelss, I will contine to work on my investment strategy, and I'll report here when I will find a startegy... that works. But for the time being, here again no wonder: no money without effort !
Monday, September 3, 2007
SLCapex Day 2 - Short and long term... 24 / 7
On SLCapex as on any market, there are two ways of investing, short or long term. For my first moves on this market, I decided to be very conservative, so as not to lose everything the first week.
I invested about 95% with a long-term view, and I kept the remaining 5% for daily investments, and very quick moves. Typically when there is an interesting bid - ask gap, and some persons placing market orders, it gets possible to gain money very quickly. The only risks are to be locked with unsalable stocks, or not to gain enough to compensate for the 2.5% fee on the sales.
However for very small amounts, the fact that the fee is only proportional makes it quite good. Many real life markets have minimal fees, so if you make very small transactions, all your potential benefits are canceled by the fees.
Another major difference between SL Capital Exchange and other markets is that... it never closes ! One can argue that any major investor in real-life will use many markets worldwide, so time differences will make it like a global 24 / 7 market... but such guys also have traders working for them on all these markets !
Managing a short term portfolio on a 24 / 7 market can quickly become an addictive and exhausting activity !
I invested about 95% with a long-term view, and I kept the remaining 5% for daily investments, and very quick moves. Typically when there is an interesting bid - ask gap, and some persons placing market orders, it gets possible to gain money very quickly. The only risks are to be locked with unsalable stocks, or not to gain enough to compensate for the 2.5% fee on the sales.
However for very small amounts, the fact that the fee is only proportional makes it quite good. Many real life markets have minimal fees, so if you make very small transactions, all your potential benefits are canceled by the fees.
Another major difference between SL Capital Exchange and other markets is that... it never closes ! One can argue that any major investor in real-life will use many markets worldwide, so time differences will make it like a global 24 / 7 market... but such guys also have traders working for them on all these markets !
Managing a short term portfolio on a 24 / 7 market can quickly become an addictive and exhausting activity !
Sunday, September 2, 2007
SLCapex Day 1 - Learn the market
This post is the first in an hopefully long series about my investments in the Second Life Capital Exchange market (SLCapex - www.slcapex.com). As you know if you're a fellow reader, I started investing on this virtual stock exchange after Arbitrage Wise, the boss of JTFinancials, offered me 5'000 L$ as an initial fund. The deal is that I can invest it, and count it towards the 1'000'000 goal, but not withdraw before the goal is reached.
So I'm now starting to learn about this market, its tools and possibilities. I will probably give investment tips, but for the time being, I'm just a very newbie... so let's go for a very simply description of what SLCapex is offering.
There are for the time 16 companies offering stock on the market, and two Initial Public Offerings (IPOs) going on. As on any stock exchange, you can place market or limit order. To make it clear for non-market oriented people, here is a brief summary:
Market buy: you buy at the price of the lower sell offer on the market
Market sell: you sell at the higher buy offer on the market
Limit buy: you buy at the price you define, as soon as someone agrees to sell at this price
Limit sell: you sell at the price you define, as soon as someone agrees to buy at this price
These are quite usual tools. On top of that, the SLCapex website offers announcements from the companies being trade, and users forums. There are not costs for buying stocks, and a 2.5% commission when selling, so any sale at a price more than 2.5% higher than buying price is a benefit.
As the market is no as liquid ("active) as RL markets now, there are sometimes quite large gaps between "Bid" (highest limit buy offer) and "Ask" (lowest sell offer), so limit orders can take time before being settled, and portfolio "market" value can fluctuate strongly.
So you must keep in mind one of the very basic market principles: "No sell - no loss". Even if a share you bought has now a lower market price, you do not loose money as long as you don't sell it. The loss occurs only if you sell at a price below buying price.
So I'm now starting to learn about this market, its tools and possibilities. I will probably give investment tips, but for the time being, I'm just a very newbie... so let's go for a very simply description of what SLCapex is offering.
There are for the time 16 companies offering stock on the market, and two Initial Public Offerings (IPOs) going on. As on any stock exchange, you can place market or limit order. To make it clear for non-market oriented people, here is a brief summary:
Market buy: you buy at the price of the lower sell offer on the market
Market sell: you sell at the higher buy offer on the market
Limit buy: you buy at the price you define, as soon as someone agrees to sell at this price
Limit sell: you sell at the price you define, as soon as someone agrees to buy at this price
These are quite usual tools. On top of that, the SLCapex website offers announcements from the companies being trade, and users forums. There are not costs for buying stocks, and a 2.5% commission when selling, so any sale at a price more than 2.5% higher than buying price is a benefit.
As the market is no as liquid ("active) as RL markets now, there are sometimes quite large gaps between "Bid" (highest limit buy offer) and "Ask" (lowest sell offer), so limit orders can take time before being settled, and portfolio "market" value can fluctuate strongly.
So you must keep in mind one of the very basic market principles: "No sell - no loss". Even if a share you bought has now a lower market price, you do not loose money as long as you don't sell it. The loss occurs only if you sell at a price below buying price.
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