After 6 years i'm rapidly approaching my overall break-even of 24.8c on these suckers this morning...quandry now is do I wait and see what rabbit is pulled out of the hat and Gordon Gekko it or do I take my funds (not unsizeable) back and run...suggestions on a postcard
Was at the PWC Post-Budget briefing this morning and their economic overview for 2014 is starting to look quite positive, based on projections the Irish state could be moving postive current account situation excluding the cash vaues of selling the ESB and Bord Gais so if the Civil Servants curtail exhuberent speding once we're on our own from December 15 then it's beginning to lool like we have some fair weather sailing ahead...interestingly their take on the Credit Review Office is that 55% of cases are ultimately getting approval for funding which in itself can't be a bad thing.
Something is making Irish banks happy today. Is it possible that the budget is seen as being expansive and providing greater opportunities for new retail and commercial bank business and that expectations for bank levy were for a much higher amount and already discounted into the share pricess pre-budget?
"My only suggestion is whatever you do, don't sell." I agree, Ireland to exit Trioka grasp and set to return to Longterm state funding without need for backstop in december, ntma has 30 billion pot to act as backstop, Ireland gaining attention from global-Us Investors and Bank of Ireland seen as Strong recovery play, Upgrade from so called ratings agencies overdue.
So let me get this straight: yesterday's budget introduced:
1: 45m direct hit to BOI's bottom line for at least 2014-2016 2 41% tax on interest earned on deposit accounts, thereby providing strong disincentive to save or deposit savings in banks, one of the prime low-cost sources of funding for loans and for interest margin contributing to bank profit, to say nothing of Basel capitalisation requirements and EBU stress test criteria. 3: read-my-lips message to banks from Noonan about getting arrears under control in a politically acceptable way to voters within 12 months (ie: write off some stuff or we'll legislate it for you)
4: Merkel and Co. are debating with SPD and Greens to form a Government in the Euro-area's main economy where retroactive capitalisation of Irish banks is being excluded as a condition for coalition formation AND Irish position on euro-transaction tax and IFSC status is being pulled into bailout exit debate 5: budget austerity was 600m short of IMF's recommended target 6: the whole issue of Gov preference shares and related possible Rights Issue to buy them out is undefined and unresolved 7: the US Congress muppets still haven't got their act together
and yet the BIR share price keeps trending North.
Anyway, just imagine what will happen when these issues begin to get sorted. My only suggestion is whatever you do, don't sell.
Hi ArdR, you have to realize to loss (i.e. sell the loss making shares) to use the loss as an offset against gains. Useful if you have that hopeless share you finally decide to bite the bullet on, knowing that it will never recover adn you have gains that take you over you in-year CGT allowance.
You jest not Sir. If this one hits my target of 40-50 cents by 2017-19, I can certainly retire (ie: from gainful employment). When it hits 30 cents, I shall do exactly as I am doing now (currently @105.6% gain): hold, hold, hold. The Mehari is a great fun idea and becoming difficult to find, but do you have dunes to roam? I am a big-time classic car fan: very first car was a 1975 MGB Cabrio after saving first job salary for 12 months. Have had various different things since then and still do.
probably hold as I am in bkir for the long term. Assuming we don't have some cataclysmic event, there is only one way BKIR can go! I am considering splashing out on a citroen mehari. Always fancied one of those! What are you going to do with your vast fortune doughnut when the sp hits 30?
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