Okay so after much time thinking about this I feel like the system is one to bail on… It hasn’t really made any money over the last year and with the fees associated that I just absolutely exorbitant for what they’re doing, and the lack of control I think SPP Harvester is a dud. This is so so expensive, I’m out.
Doing it yourself, buying in at 500 shares and selling down to one share is the way to go. IG at $5 share was best esp when you could do $90 in out. But that is still custodian.
Now Stake at $3 chess is about to launch. This is mighty.
From a fundamental perspective DIY this also gives the investor option to opt in or opt out. And exclude shares they don’t want. Or purchase those they do out of the top 300.
If anyone wants to do a self managed buy in the next few months, there is a cracking opportunity to do so with Stake, $3 chess shares… $0 if your in first cohort to launch Oct - End of year. If you can get this you can build the portfolios for free! Then on top 300 would cost max $900 to get out - Although for all shares worth less than $3 you may as well just leave of course!
here is a link to the $3 chess shares offer for those interested… obviously still do your own research but this is worth a peek IMO.
Regarding the SPP harvester algorithm… This is just nonsense, its hope work, how can they sell and know someone else is not going to sell more than someone else in the buy queue. Probably they using a series of limit orders 1c a part to try and minimise the downward pressure, and if a big buy comes through adjusting up. Waiting days to sell is very risky.
Anyone that does a DIY, should do a delta hedge on date of commitment to lock in the discount. You would lose any upside if the stock goes up, but people doing this are harvesting the spp discount not trying to gain upside on the share - Otherwise just buy the shares!
DIY also puts you at the front of the sell queue to take profits or get out of loss makers asap, certainly before SPP harvester investors paying fees to be disadvantaged.
