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back at 550p the rest of those recently sold at 653p
Quite so Battk,
Glad to see that you have a rise in SP today for whatever reason, hope it continues for all long term holders!
algorithms/day traders/shorters all meaningless financial trades?
Interesting and to the point post from Mr Gnome of the CEY.L forum
It does get a bit hard to stomach the BS that gets served up to us every day, as financial wisdom by financial gurus. The world finance is dominated by non-physical trades done by computers now mostly, which bring no benefit to society as a whole, no benefit to anyone but the owners of the "traders". Bull$hit trades is a term that springs to mind. It s a little like a hybrid of what David Graeber called, Bul$hit jobs. [A bull$hit job or pseudowork is meaningless or unnecessary wage labour which the worker is obliged to pretend to have a purpose.]
We are well past the post on meaningless financial trades of "hybrids and derivative nothings" to stabilise "the system and better manage risk", LOL. It is the biggest lot of *******s one can imagine, and people are given Nobel Prizes for this rubbish. The last bit of "Nobel madness" I read about was the realisation that a bank run occurs due to customer panic rather than actual insolvency on the part of the bank. Give me a break, what world do the economists live on?
I am off to my hut at the end of my world to nowhere to enjoy the sunrise!
best to all
The Gnome.
The banks and the markets are run like a casino and are ever more corrupt and self serving where trading carried out in the main by algorithmic reaction to scare mongering and panic that is just excuse to shuffle to the shares up or down until the next newsflash of yet more manipulated and in the main pointless data aimed at covering up the unfit for purpose monetary and market system.
It all started to go very wrong when this act was repealed
https://www.toptal.com/finance/investment-banking-freelancer/glass-steagall-act
you can't compare the state of major banks now compared with 2008.
Much better solvency, funnily there's been talk of reducing the amount of liquidity banks need to hold, this should quieten that chatter down a bit.
Even SVB aren't 'bust' they are just illiquid and it's only the crazy emotions of the herd that has caused it to fail by trying to take out all the money in one go.
Luckily for us the same herd mentality means we get to buy good, unaffected businesses for a nice discount when such fears surface.
Useful FT piece here:
https://www.ft.com/content/07628c56-f1c9-4da0-95c3-4e6ed0b1b01e
Hi Minecheck,
I had a look on here out of curiosity after the events of last weekend and Iif I am honest to encourage others to be on their guard, I'm afraid I lost my trust in banks to such an extent as a result of the last financial meltdown that I would never trust them again.
Debt against assets may in theory seem OK, but that depends on the assets and I fail to see that the City of London is a great place to invest after Brexit the UK is fast becoming more like an irrelevant backwater.
I recall selling out of Stan.L at over £21 and they where paying a decent divi, look at them now, what a joke!
I appreciator that others have their own opinions, but they may like to check some of what is being said in the media on.
https://fullfact.org/
https://positivemoney.org/
https://www.electoral-reform.org.uk/
Also n this week’s Live from the Vault, Andrew Maguire studies the aftermath of the Federal Reserve borrowing over 100 tons of physical gold from the BIS to sell it into the market, in an attempt to push back against the rising price of the precious metal.
https://www.youtube.com/watch?v=2inKxSXz0Z4
Anyone interested in investing in a gold miner paying a dividend might care to take a look at CEY.L
Cheers for now!
Tibbs
I agree Mr Tibbles, and anything dreamt up this hastily involving UKG is likely to be of dubious sense.
However, in perspective, the liabilities are not open ended, and they are nominally asset backed. This isn’t exactly RBC, and I don’t expect UKG would be keen for this all to go horribly wrong for HSBC given that London is getting to prove what a great environment the UK is for tech firms.
Having said that, they managed to kill energy investment by the windfall tax, so I suppose none of us can say anything with any confidence about this matter.
I once held HSBC, if I still held now then I would be very concerned by this takeover of the arm of a failed US bank specialising in lending to companies overstretching themselves in the hope that things will come good someday!
Royal Bank of Scotland was not alone in being shabby, reckless, greedy, dysfunctional and corrupt during the build-up to the crisis. Nor in its aftermath.
https://sceptical.scot/2018/10/guilty-men-rbs-shredded-part-three/
I also once held both Lloyds & RBS and neither bank has ever recovered, this is a bad move instigated by the inner circle of government that will also will likely end up costing HSBC share holders dearly!
https://www.thisismoney.co.uk/money/markets/article-6169589/Fred-Shred-line-17m-pension.html
HSBC rescues SVB
I agree. On the face of it, this seems like a really good move for the company. I wonder how many British banks were in contention for this bank.
The purchase of SVB (uk) for nothing seems like a good move for HSBA on the face of it. The problem for SVB (usa) was it simply had liquidity problems which it could not solve without advertising its actions. This seems to have sparked an unnecessary panic with which the bank could not cope.
In Silicon Valley, or any tech centre, the the risks are high but so are potential rewards. SVB proved too small to handle the situation, and perhaps it had become complacent as some claim. HSBA has the size to avoid the same liquidity difficulty and hopefully the expertise to deal with the UK tech scene.
The fiasco has also raised awareness at government level of the importance of the UK tech sector. This has to be a good thing, especially under Stanford educated Sunak rather than F**k business, F**k the USA, F**k everybody Johnson.
Lloyds HBOS 2008 - springs to mind!
Toxic i would say
Impressive speed at work this weekend!
Disagree - why would you think that?
I cant see how this is anything but negative for HSBC
yep nice flash sale
back at under 588p some of those recently sold at 653p
share price now back to be comfortably above XD day
Took some profits just before going ex. Now planning on Holding for end of restructuring up tick on growth special dividend and probable share buy back. Remains value part of portfolio
Dividend makes no difference, the price goes down to reflect it.
I sold up for a decent profit too. 19p was a tough dividend to give up but couldnt count on the price gaining it back before tax year end. Bird in the hand and all that…
Not interested in the e dividend drop tomorrow ?