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I wouldn't say its a dark cloud. Everyone things Institutions get it right all the time, but they done and that's why and most traders with a portfolio will hedge. By adding to the short we may see that as they are 100% certain its going down, but they could also be averaging and hoping for a 50% drop to breakeven an exit if they go it wrong. The shrot could just be a retracement short covering a 5% retracement from such a rise. Yes its not great too see, and will impact the momentum but nothing goes up in a straight line anyway. Personally I wouldn't worry about it, its a Credit Sussie ex and we all know how well they did. Anyhow, check this old footage out of how Cramer explaining how his institution try to manipulate stocks....... https://www.youtube.com/watch?v=r07Gg92YjOI
Since they are quite a few people mentioned the increased short position, which stands at 0.8% today.
I did a calculation based on the filing date close price and the percentage. The short position has a total cost £204.7M, paid £4M dividend and on paper loss £14.7M or ~7%.
Let's see how this plays out. The short either wins big if economy turns to south quickly and bank starts to lose money and forced to stop buybacks, or the short can dig a really deep hole by themselves. A paper loss above 10% would require risk management review and justification. An even deeper loss will certainly incur some people to lose their jobs.
Three Black bankers lose UK race discrimination claim against Barclays
Three Black bankers, who sued Barclays (BARC.L) for a combined 52.8 million pounds ($66.7 million) in London over allegations that included race discrimination, harassment, victimisation and whistleblower detriment, have largely lost their case.
In a near 460-page judgment, the East London Employment Tribunal dismissed the bulk of claims brought by Louis Samnick, a former vice president, vice president Christian Abanda Bella and Henry-Serge Moune Nkeng, an assistant vice president.
The three men of Cameroonian background, who represented themselves in the lengthy case, had alleged they had been bullied, harassed and denied promotion and appropriate support, in part because of their race.
Samnick, a former vice president in the bank's credit risk model validation team, and Abanda Bella, a quantitative analyst, succeeded with a claim that Barclays had failed to make reasonable adjustments for their disabilities during a 2019 performance review.
In a judgment made public on Wednesday, the judge said health issues faced by Samnick and Abanda Bella were sufficiently significant to allow them compensation for this part of the claim. All other complaints failed.
Barclays did not immediately reply to a request for comment and Reuters was unable to reach the claimants.
Abanda Bella joined Barclays in 2017 but has been signed off work with depression since 2019. In his 2019 appraisal, carried out in his absence, his performance was assessed as "needs improvement". Samnick, who received the same 2019 performance rating, had been on sick leave since September 2019.
Ranked as a vice president for 10 years, Samnick resigned in 2021 after securing another bank job at executive director grade, the judgment showed.
A remedy hearing will be called if the parties cannot agree compensation for the single failure to make reasonable adjustments for disabilities.
Their short position has now increased to 0.8% as of the 12th March. I thought we were through the tough times only for the dark clouds of an institutional shorter to appear.
Qube Research & Technologies, the London-based quant hedge fund firm spun out of Credit Suisse in 2018, has built the largest ever short position against Barclays, representing 0.73% of the bank’s stock, according to a report by The Times.
Qube’s short wager comes despite a recent uptick in the bank’s stock price after Chief Executive CS Venkatakrishnan unveiled a turnaround plan aimed at reviving the lender’s fortunes, and suggests that Qube, or its algorithms, believe the rally will be temporary.
Venkatakrishnan, who has been under pressure to boost Barclays’s stock market valuation to bring it more inline with its European and US peers, pledged on 20 February to return at least £10bn to shareholders over three years, cut costs and lift annual revenues to £30bn by 2026.
Shares have since surged by 20% to 177.5p, the stock’s highest level in a year.
The report cites regulatory fillings as revealing that Qube has been increasing its short wager against Barclays during the course of the share price rally, after reaching the 0.5% threshold that triggers disclosure of short bets to City watchdog, the Financial Conduct Authority (FCA), on 27 February.
The report also quotes a Qube spokesman in saying that the company’s trading did not reflect a “fundamental view on any individual name” and that the firm had “no specific view on Barclays”.
This will run out of steam I believe when the buy back ends, they have bought back about 55 million now so a fair way to go yet me thinks
In The Times yesterday
https://www.thetimes.co.uk/article/hedge-fund-builds-barclays-short-position-8hs6svn2m
Don't have access to the full article, only a snippet:
"Hedge fund builds Barclays short position
Qube Research & Technologies has the biggest short position ever disclosed against the bank at 0.73 per cent of share capital.
A top hedge fund has amassed a bet worth almost £200 million against shares in Barclays despite a recent rally in the bank's stock price on hopes that the chief executive CS Venkatakrishnan will revive the lender's fortunes.
The short position built by Qube Research & Technologies equates to 0.73 per cent of Barclays's issued share capital and is the biggest ever disclosed against the bank. It suggests that Qube believes the share price rise, fuelled by a turnaround plan set out by the Barclays boss last month, will run out of steam."
Thoughts on this?
The banks are under-appreciated, so my advice is sink some cash in this sucker. Hopefully you won't be disappointed.
To infinity and beyond
I don't use any paid for services but I find Citywire an excellent free resource. Also Proactive Investor and Share Cast can have some pretty good stuff.
Citywire's Investment Trust Insider gives excellent content and with Trusts you'll lose some of the volatility of single shares (although sectors can get a kicking). They also push out single share and funds info. You can always buy ETF alternatives.
I hope you find this useful. Perhaps others can provide wider comment.
If we keep this up, we will hit 190p soon. I have fond memories of the Barclays sheep trying to jump it a couple of years ago.
Hi all, not really about barclays but I'm just after some advice or suggestions.
I've been investing in shares since the start of covid (learning and boring my wife with it) I put the full isa amount in per year nearly losing it all in the process!!!! but finally I'm about even now learning how to properly invest. I was wondering if someone could tell me are the subscriptions for example motley fool, simply wallstreet any good because I struggle to find information on companies to do research, and I like research just to bore the wife!!!!
Thanks
Rats
Not sure if i've read it right, but i read it as new or existing. Reding T&C's, It doesn't need to be a new isa product. Those with existing DD regular payments in place will be auto entered. Just might be worth those that don't do DD regular payments into SI adding one for a few months to be entered into the draw. Can always cancel any DD payment post end of May. Did only quick read through it though.
Only for people who open a new account...not for existing isa accounts
Hi All, observed this board for a good few years. Interested in opinions of those also invested. Just thought i'd make my first post something that may / may not help some on here. Apologies if posted before and i've missed.
For those that use Barclays smart investor, they have a comp running where someone can win 20k and another 20 prizes of £500. All you have to do is have a direct debit setup to pay into you smart investor account (don't actually need to invest the funds in anything). DD needs to be in place between 13th Feb and 5th April and remain in place until end of May. Can't be a member of staff though according to T&C's so rules me out. Could still benefit others.
https://www.barclays.co.uk/smart-investor/campaign/fund-your-account/
Good luck to anyone that is entered.
@ JayK / Good morning sir, "to be sure, to be sure" as the saying goes.
In no way did I read it as any other way than it was meant sir.
A very wealthy currency trader once said to me "Never pay any attention to anything anyone posts on them forums!" which was a very true statement.
Only trust the person in the mirror.
Have to say when it comes to Barclays, ole Mr A's just about got it sussed to a T these days.
Barclays isn't rocket science to trade, its more of self control and not suffering from fomo (which we all have at some stage) Barclays is like an oil tanker and takes times to turn, it can take on ballast really fast, though weeks if not months to unload it all.
If venkat and Nige don't show improvement this Q result s we will lag once again.
The optimist in me would love to see a 2 in front once again, though the realist tells me we need to see the proof in the pudding first.
If Hunt thnks allowing another 5k on the ISA brigade is going to launch UK bank shares, quite frankly he's delusional.
Once everyone's topped up their allowance, the divis paid out, the average Joe retailer loses interest.
Which leaves us institutional's and I'm not hearing much confidence until we read the next print.
It will be a different kettle of fish, when rates settle back and the basics start returning decent income.
Though I'm sick of waiting for next years carrots.
Just waiting for the US to start to stir and took a gander on here, you have a great week and be lucky.
Regards W'
The short has now gone up to 0.73%
"Good Morning Mr Wolf"..........Literally what my eldest says to me in the morning these days. Yes all good thanks buddy, hope you had a great weekend. Please don't take my comment as anyway negative to what you say, I don't think you did but just to be sure as said I do value your view and opinions. I may look into them, I may use them or I may disregard them for my own views or "timeline for a trade", and I think you need to be that flexible as there are a billion views and scenarios that can play out in the markets, I think mass information is really what ruins most traders, being lead on and not trusting yourself and getting so confused in a trillion scenarios.
Have a good week.
Cheers,
@ JayK - Hey there, hope all is well and good in your camp chap. Great input below, couldn't have put it better myself.
Firstly, thank you for the "human" clarification lol, someone didi ask if I was a Ai Bot a while back, did make me chuckle.
Least my trade performance impressed someone enough to question the fact if I had fur.
As you know from my contributions, one tries to share the "non obvious" and I know from few heavy hitters around me, what mine and their concerns are. Be it that week or month, some trying to set up the next Q's even.
At the end of the day "it gets dark " and we're all in vested in this one thing and it aint charity or wasting / paying Hunt more stamp duty.
Wishing you and others a wonderful weekend, away now myself.
Regards W'
I always thought it was tracked via National Insurance number and picked up that way. So multiple across different banks would be spotted.
I went over my isa limit by 500 and it was picked up within 2 months
Staff Sharesave always matures in November. So that Q will see an increase (although they have 6 months to excercise most will do on maturity)
Il be selling up here at 190-200 , quicker than you can say jack flash
Thanks for the advice JayK, I think I was clear in the message that I went my own way regardless! And it was more of the underlying research / facts that Mr Wolf was surfacing rather than his own words. Your advice is spot on though and hopefully help others make sound decisions. I hope we can continue this rally and those that have been holding for so long finally see some results. A rate cut and more positive news from the US can help us move this forward to fair value
As banks don't speak to one another and cant disclose information regarding any of their clients, there is nothing stopping someone opening multiple ISAs in the same year and storing £19,000 in each so not to max out the allowance in one unit.
HMRC may catch up with them in 5 years and they have a back log longer than the UK benefit line.
Stupid idea in my opinion
Fusion98