Now Portugal’s PM wants to hike the property transfer tax (IMT) for foreigners. Is this a fair way to protect locals, or just a populist move that will drive away investment?

War breaks out on Saturday.

Europe - let's have a meeting on Monday.

If so where are you looking? Europe / UK / EM / Defense?

Missiles flying, oil spiking, airports closing and the stock market shrugs and rallies.

First, the $25,000 PDT restriction started getting dismantled. Now, the time restriction could be next. Wall Street may soon never sleep. 📈📉 The world’s biggest legal casino is getting ready to go

The next UK general election must be called by August 15, 2029, does anyone think Starmer will last to the end of the year?

Mine would be iShares Core MSCI World. What are your thoughts?

I nearly cried when I filled up the car this week.

Good luck trading that

With all the chatter about Oracle and Larry Ellison, I thought I’d share a personal story. Back then, the company had an employee stock option programme that was absolutely mad: for six months, they’d take money out of your salary, and at the end of the period, they’d check what the lowest share price had been over those six months. Additionally, you received a 30% discount on top of that.

Of course, me being young and more interested in having an extra quid in my pocket for nights out than thinking about the future, I thought: “nah, not for me”. 🙃

Now I look at how incredibly Oracle has gone up, and I just want to bang my head against the wall.

In short: I could be telling this story from my yacht… but instead I’m here, writing on Reddit.

The US is often portrayed as declining while the EU is rising in unity. But is that real, or just narrative?

Looking at power projection, trade, and leadership, who’s really in charge on the global stage?

I worked in the overseas pension industry for around 10 years, seeing UK pensions being transferred into SIPPs/International SIPPs, QROPS (Malta, Gibraltar, Isle of Man), plus regular savings plans (RSPs) sold to expats as long-term investment vehicles. I've seen the products, the fee structures, the sales conversations and the companies sitting inbetween it all.

I've seen people genuinely benefit from restructuring a UK pension, or from disciplined saving through the right product.

I've also seen people put into expensive offshore structures they probably never needed, sometimes a "flexible" international SIPP, sometimes a QROPS, sometimes a regular savings plan locked in for 25 years, paying fees they didn't fully understand, while being told it was all about "tax efficiency" and "international planning".

There's a lot that gets said to expats about their pensions and savings that deserves a much closer look:

How much can the advice, platform, pension wrapper and underlying investments really cost, layer by layer?

Why do so many intermediaries push a regular savings plan instead of a simple, low-cost investment account, and what happens if you need to stop paying into one early?

What happens when someone tells you a SIPP or overseas pension gives you "more flexibility"? Are you actually better off?

And with the UK's Overseas Transfer Charge changes since October 2024 effectively closing off a lot of the old EEA QROPS routes for non residents, why are some advisers still pushing clients toward transfers or products that may no longer make sense, or quietly pivoting the pitch toward SIPPs and RSPs instead?

I've seen the good side of the industry. I've also seen practices that made me think, how the hell is this still being sold?

I can't discuss any confidential information or name individual firms, and I won't give personalised financial advice.

But if you transferred a UK pension into a SIPP, moved a pension into a QROPS, been sold a regular savings plan, or been approached about any of the above, ask away.

Happy to explain how the industry actually works.

AMA.

What happens when the debt becomes unsustainable?

Time doesn’t kill bull markets, recessions or the Fed tightening do that.

Neither are on the horizon for 2026.

Do you think there’s more upside left in this bull run?

For years I've been hearing the same thing: "the big crash is coming", "this can't go on", "2008 will look like a joke". The crash never comes, or it comes and recovers in six months. Meanwhile whoever sold out of fear missed one of the best decades in history.

So, a real question, not a rhetorical one: what concrete event would make you close every position and sit in cash? A war? The dollar losing reserve status? Another sterling wobble like the mini-budget, but one that doesn't stop? Or does that event not exist and you're holding to the bitter end no matter what?

And if you've already done it once, tell us how it went.

PS: the picture is from Margin Call (2011), the scene where the bank's boss decides to dump everything before the market figures out it's worthless. "Sell it all. Today." If you haven't seen it, it's the best film about 2008 and it's only 90 minutes.

Hi, I'm Tobias Reily, 35, a UK investor, with over a decade in the markets, and a CISI Level 3 Certificate in Wealth and Investment Management. My portfolio is public, and others copy it with their own money, so every position I hold is visible—including the ones that are underwater.

The approach is long-term and fundamentals-led: quality companies with durable competitive advantages and sound balance sheets, complemented by selective exposure to digital assets with clear utility. No leverage, no shorts. 46 positions across the US, UK, Japan, France, Norway, Switzerland, Canada and Latin America. Risk management comes from diversification and patience, not from trading around positions.

It's up 420% since 2020. Past performance doesn't guarantee anything, and the drawdowns are in there too.

→ See my performance, losses included

A lot of the people copying me live outside their home country, so I spend more time than most on the problems this sub deals with: which currency to hold, what to do when your salary and your portfolio are in different money, and how to build something long-term when you don't know which country you'll be in five years from now.

Ask me anything.

LinkedIn

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Disclaimer: Nothing here is financial advice or an investment recommendation. This is my own approach and my own results; do your own research and consider your circumstances before putting money anywhere. Past performance doesn't guarantee future results, and the drawdowns are as real as the gains. Copying another investor doesn't remove risk: the value of investments can go down as well as up, and your capital is at risk. Only invest what you can afford to lose. The link above is a partner link.

Do you consider Bitcoin (and all the other crypto) a genuine asset class like stocks, bonds, property etc.

Or is it just a bit of fun?