All I hear from Brexiteers is that it will be alright in a few years time.. Well it was quite alright pre 23 June... They all seem to discount the decimation of GBP against the majors and the huge additional cost this brings to our net import bill each month.. yes cheaper for exporters but many of those import raw goods to manufacture before finally exporting . When pushed into actually articulating what they mean by the many 'phrases ' they parrot from the now mostly invisible Brexiteer leaders , they can't get off first base. This was amusing and I apologize to SCfc on the Lloyds board for re posting but it summarizes Brexit very nicely. ....
Let's hope that after the pre A50 negotiations with the EU we have an all party debate and at least the MP's have a vote on whether or not to go forward with A 50.. UK: "I want a divorce." EU: "But, I Love You. Please don't go." UK: "It's no use, you're stifling me." EU: "Oh Please, Darling... I know we've had our problems; but I'm sure we can work it out together." UK: "I'm sorry. I still love you, but I need my own space." EU: "You're breaking my heart; but I wouldn't want you to be unhappy. I'll speak to my Solicitor. When are you going?" UK: "Not yet." EU: "What do you mean, 'not yet'." UK: "Well, I haven't really thought about anything other than getting a divorce. So I thought I'd live here with you for a couple of years while I work out what getting divorced actually means for me." EU: "So you have made a massive, life-changing decision without giving any thought as to the ramifications?" UK: "Yes. So we need to discuss what I want after the divorce goes through." EU: "What you want after the divorce goes through?" UK: "Yes." EU: "What do you mean?" UK: "Well, I thought I would move out so I can be free to make relationships with whoever I want. And I would stop paying you any money for the mortgage and the kids. But you would still cook for me, wash and iron my shirts, let me have access to your TV when Match of the Day is on; oh and agree to have sex with me a mininum of four times a week." EU: "I see." UK: "So what do you think?" EU: "Go on now, go, walk out the door. Just turn around now; 'Cause you're not welcome anymore. Weren't you the one who tried to hurt me with goodbye? Do you think I'd crumble? Did you think I'd lay down and die?"
Prosecute dishonest Brexit politicians and bring integrity back to British politics.#BrexitJustice
If only as an (ex-employee) Aviva investor, I feel somewhat* let down by our so-called leaders. We haven't 'got our country back' as we never lost it but we have been made a global laughing stock. And the biggest clown of all is now Foreign Secretary; not even Geoffrey Archer could have made that one up.
If the value of what a company sells or invests in drops then the SP usually falls...it is not rocket science..
Bonds with frighteningly low yields, property funds where people fear a crash in commercial property values, fixed income assets with historically low returns, are all not exactly flavour of the month with investment buyers.
If the FTSE drops back to 6200 or less then that may well be because the pound rises and the likes of the miners,oil,rolls royce, Glaxo etc give up some of their sterling gains to profit takers...
Theresa May winning and setting an agenda with Europe and prioritising a few things should stabilise confidence and get a grip on the rudder.
A FTSE drop to 6000 or 5900 seems unlikely, in my opinion, given the decent US jobs figures...unless there is some "horrendous" data from China or a major terrorist event.
It seems any fear of recession is counter balanced by a hope of QE ...the idea that there is some kind of "safety net " anyway...
How Mark Wilson and his team decide the way the dominoes will fall is no easy prediction but I would take a guess that he is being cautious on all fronts.
Management pay well that will change,the share price worth less than it was 3 years ago ,Aviva was on the decline long before BREXIT,the FT standing at 6625 where do you think aviva will be if the market tanks to 6000 or below ?3-60 something going nowwhere !!!
Fundamentally sound company with good, if not well paid, management. Aviva more than some seems prone to market swings . Very early days in the Brexit saga so will be some months before they will know how Brexit is effecting the books.
Thanks for your detailed and measured response Pokerchips. I've been in Aviva since way back in its Commercial Union days. Although it's probably been the most frustrating share in my portfolio, always seeming to show promise but somehow never fulfilling it, I doubt that I will ever sell though. You are right that whatever you think of the system it works the way it does for a reason. I'm not going to change it, but when you feel something is just not right it makes you feel better to wave a flag.
Any way. good luck to all of us, both with Aviva and Brexit.
Richox, I understand your views and to a certain extent make perfect sense.
Since Brexit, whilst Aviva have not given a financial update they have issued an RNS stating that they have spent a considerable amount of time on preparing for BREXIT or REMAIN and as yet neither you nor anyone else has any idea how the company has performed as a result of BREXIT.
AVIVA invests a lot in its funds so it at risk with the market....everyone knows that or should...
You have no idea what decisions he and his advisors have taken. Considering how close the vote was destined to be it is hardly suprising if some of those decisions turn out to be good or bad.
Given the current economic environment around the world and with low bond yields, interest rates and lacklustre growth it is expecting a great deal to presume that any CEO of an insurance or banking unit can achieve high growth and profit figues. To do so often means taking RISKS ..shareholders want success but dont want any risks that fail....yeah right !!! Things change from day to day....
Shareholders HAVE to take some responsibility in judging the market conditions.
You cannot just buy a share and sit on it and throw peanuts at the CEO if the SP declines...the market behaves against perfecting good performing CEO's...
Shareholders have merely paid a price for a share which they have bought from someone else with the view that they think they can sell it on to someone else at a higher value. The BOD gives guidelines and works to try and achieve that but there is no guarantee that may happen despite the CEO's very best abilities.
At times shareholders misjudge what the share price is worth overpaying for it and then blaming the CEO.
At the beginning of the year people were prepared to pay 500p+ for a share of AVIVA but it seemed a lot to me and I was suprised with that...others werent and continued to buy
Pay scales are indeed a difficult subject and bonuses very debatable indeed so...It all boils down to demand and supply and paying for what you think is the best in the market.
Same with footballers...ridiculous amounts of pay and pampering..but if you dont pay for Messi then your opponent will...its like poker you have to pay to stay in the game and up with the best...
If AVIVA doesnt keep up then someone will buy up the scraps..
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