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Good Morning Tonsril,
At least if you are aiming your vitriol at me then others are fortunate to escape it.
Unfortunately though although some individuals take responsibility for their actions because they are in their own best interests without any consideration for how they will affect others or our planet, deselected Trump for example.
Glad you got the drift of my meaning it is all about our leaders setting by example and considering the wider impact of their decisions on our planet and all of its inhabitants.
Perhaps you would like to contribute something to the debate that others may find of interest or possibly you may have some news on Centamin?
Good to hear from you and looking forward to your next post.
Keep well Tonsril, not too much ketchup on the chips, or salt on your cornflakes or pancakes!
Tibbs
Am I correct that we will be getting the new license news by the end of June?
Equities in Europe traded higher in the premarket on Wednesday as traders remain focused on several data releases that are to see the light during the day. Germany will reveal its latest results in retail sales, the United Kingdom in mortgage approvals, and the European Union in producer prices.
Earlier, the bloc's institutions reached an agreement on the method of tax reporting for the multinational companies that operate within the union's borders.
The DAX traded 0.08% higher at 8:00 am CET. At the same time, the FTSE 100 rose by 0.07%. The CAC 40 went up by 0.10%. Both the euro and the pound sterling stood flat against the dollar, selling for $1.22153 and $1.41524, respectively, at 7:59 am CET.
Breaking the News / JR
Happy hump y’al
Do you ever do anything but whine? Ever heard of the concept of taking responsibility for your own actions? Please save us from your unfounded sanctimonious preachings :)
Thank you Don!
Great news indeed , common sense, decency and longer term thinking , all too often those in power choose to forget that they are also responsible for even those are unable to vote or simply because they have have no human voice have all the more right to be shown consideration and respect, even in preference of yet more wealth for the few and the convenience of the inconsiderate and ignorant.
MrBond46,
What are you doing still awake ;-)
Questor: either the gold price or this miner’s share price is wrong: we say back the miner
Questor share tip: Centamin has been a serial disappointment but even its curtailed targets for this year imply a yield of almost 6pc
By
Russ Mould
1 June 2021 • 5:00am
Gold is hovering around the $1,900 an ounce mark, which means the precious metal’s price has risen by 55pc over the past five years and trades at barely 7pc below last autumn’s record high. By contrast, shares in Centamin, the gold miner, are no higher than they were in June 2016 and stand at barely half the peak reached last year.
It is therefore tempting to argue that either the gold price or the share price is “wrong” – and given the current macroeconomic backdrop this column’s inclination is to believe that the share price is too low rather than the gold price too high, even allowing for Centamin’s history of operational disappointment.
America’s Federal Reserve, the Bank of Japan, the European Central Bank and the Bank of England are showing little or no inclination to tighten monetary policy. This is despite the fact that near-zero interest rates and quantitative easing were described as emergency policies when they were introduced in the West in 2008-09 and despite signs that inflation is gathering – last month’s 4.2pc year-on-year rise in the US consumer price index was the fastest rate of advance in more than a decade.
The central banks’ view is that this surge will be temporary because it is partly the result of pent-up demand and supply-chain dislocations as lockdowns ease and partly due to the low base for comparison offered by the economic downturn of 2020.
That view may be right. But commodity prices are rising, factory gate prices are on the up and consumer price indices are surging. If wages start to rise sharply we could indeed be in a situation in which inflation is truly making its return after lying dormant for the thick end of 40 years.
Real assets – commodities and property – or paper claims on real assets via shares in miners, for example, provided portfolio protection in the 1970s as the cost of living galloped higher, so those investors who do fear the return of inflation could be forgiven for researching gold miners such as Centamin once more. That said, those who see inflation as a transitory phenomenon will be unmoved.
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Read Questor’s rules of investment before you follow our tips
This column has yet to strike it rich with Centamin: the shares are showing no gain since our initial analysis more than two years ago as the firm has disappointed on production volumes and costs more than once. A development plan announced last week for its assets in Burkina Faso and Côte d’Ivoire also went down like a lead balloon with analysts.
Yet the company should be primed to capitalise if gold prices do shoot higher, especially as a first-quarter update in
EU.
:-) Very interesting Don .
I suppose you are going to voice your concern, but to who?
Your Canadian Government, or American.
Not that it will make any difference (Mate).
My sympathies for the rotten Politicians you have, not unlike Goldgnomes Australian lot.
And of couse the UK and
The Biden administration on Tuesday suspended oil and gas leases in Alaska’s Arctic National Wildlife Refuge
The remote, 19.6 million-acre refuge is home to polar bears, caribou, snowy owls and other wildlife, including migrating birds from six continents. Republicans and the oil industry have long been trying to open up the oil-rich refuge, which is considered sacred by the Indigenous Gwich’in, for drilling. Democrats, environmental groups and some Alaska Native tribes have been trying to block it.
https://www.cnbc.com/2021/06/01/biden-suspends-oil-and-gas-leases-in-alaska-refuge-pending-review.html
The LBMA has blagged a deferral of Basel 3 compliance for reasons of "Pandemic', all well and good but what they seem to forget the EU will be complying from June 2021, so the LBMA is up the creek without a paddle!
The LBMA deserves to go to the wall!
Hi George & Adam,
Thank you for your posts today, fantastic, reminded me of some of the times past on this forum!
Take care Mr Zambian, since the red sauce could brink you out in a rash!
https://www.channelmum.com/a/tomato-ketchup-preservative-causes-horrific-allergic-reaction-in-18-month
https://www.dailymail.co.uk/health/article-7494549/The-sauces-marinades-contain-TEN-TIMES-salt-concentration-sea-water.html
I hope Boris, Jacob Rees Mogg & Farage put plenty on their chips!
Apologies MrT off topic. Tomato ketchup is coming to the UK post Brexit. Happy days!!!
Tibbs and adam
No its no smartyphone for me just a android tablet....
Got another one for you both....
A member at the golf club having retired threw several hundred K at the Woodford funds ....he new I managed my own portfolio but kept braging about how well the funds were performing ....I recall him saying im 38k up in one of them and subscribing for the Patient one.....after a couple of weeks.... hey he said im up in this one too.
To the point I felt the old FOMO cross my mind .......
But I said to him..hang on your 38% up in less than 6 months .....what level of return are you looking for / or be happy with .....Personally i would crystalise those gains mate......
After the funds demise he stated
1: That he got out 2 weeks before the suspension of the funds
and then some 6 months later
2: That his name is added to those seeking recompense for their losses
Suffice to say we dont talk a lot about trading right now
I've much of my professional life consulting to IFAs and brokers albeit from a compliance/accounting/operational perspective and have seen how inept their operations can be. Perhaps that experience has inoculated me against seeking professional advice.
If you want a job done well - do it yourself. Or as Mr T puts it "If any of these brokers and investment companies were so good then why aren't they all using their own advice to become multi millionaires themselves instead of trying to get paid to take risks with clients money?"
Or as Cicero put it all of 2000 years ago - qui bono?
Hi George,
No problems with the spelling, in general chat I supported the request for an edit facility (possibly timed by 5 mins from orig posting) that would prevent changing posts in hindsight.
As far as I know peter was'nt from Cheshire, coincidence though two brokers with integrity!
You do well to post as you do on a Smartphone, neither my wife or I choose to use one, I have a couple of laptops and my wife has Apple Imac's, but both of us refuse to become smartphone addicted or social media slaves, we both prefer conventional flip phones that slip into the pocket.
Peter my old broker taught his clients about the markets as part of his service to them, you don't get that now from most brokers!
I gave up using brokers after my brush with the ones who got their hooks into me after Peter retired, you were so right not to have anything to do with that shower who tried to get hold of your portfolio and lump .
sum, what a nice little earner that would have been for them!
If any of these brokers and investment companies were so good then why aren't they all using their own advice to become multi millionaires themselves instead of trying to get paid to take risks with clients money?
Tibbs
Yes, in go(l)d we trust!... What other sector is good to pair with gold to escape the 250 billions of debt you mention?
Looks like we are rising today in line with the World recovery in trade/demand, and the P.O.G is still moving up on Comex and Spot. I can see us moving up past the Barenberg figure soon and no doubt will be attracting a number of favourable ratings very soon.
Apologies for bad spelling....Im outside with a poor signal I guess..but hopefully you got the jist ..
He MrTribbs
Thanks for a great thread and I agree with everything youve statec.
My first broker was a chap called Peter ...youre not from the cheshire area are you....
I used those Brokers just to buy penny puts....
I am somewhat surprised and bare with me if i am out of order here! that a guy as sensible as you still uses a brok though...
When I retired the firm arranged for us to meet up with one of these so called finance houses....
They would have took the lump sum...liquidatec my entire portfolio ...and I reckon id have been 5% down straight away...hence I do my own thing...
Either way keep up your brilliant posts my freind
ATB
George
Hi Adam,
You mentioned trading success, think on this -
Trading is hard. So hard that recent data disclosed by trading platforms show that, on average, less than 1 out of 4 retail traders make money.
Outside of the U.S., forex is commonly traded by retail traders using Contract for Differences (CFDs).
If you’re not familiar with CFDs, a CFD is a contract entered between a trader and a CFD provider. CFDs allow traders to speculate on rising or falling prices in an underlying currency pair (along with other underlying markets like indices, shares, commodities, and crypto).
Due to the recent measures adopted by the European Securities and Markets Authority (ESMA), companies that offer CFDs to retail clients are now required to display a “standardised risk warning, including the percentage of losses on a CFD provider’s retail investor accounts.”
Basically, trading platforms are forced to be more TRANSPARENT and now have to disclose what percentage of their clients are losing money.
At the bottom of each CFD provider’s website, they display a message that looks something like this:
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. X% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Hi Adam,
If only I was exaggerating, but I speak from my own experiences and from other's whom I have tried to help recover some of their losses and more importantly their self respect and confidence after they have been encouraged down the same path.
I once used a broker who was a really decent chap and over the years became a great friend, Peter had principles that he abided by, he made a good living, but he never to my knowledge took advantage of his clients, he always acted in their best interest, even if it meant turning down a commission.
But Peter retired, times moved on, as did technology and the way we invest ,no more sitting in on that old leather settee on the other side of Peter's desk enjoying a glass or two whilst looking through various papers and company reports deciding which might be worth buying or selling, then if we weren't decided off to the pub to enjoy some real ale and put the world to rights!
Unfortunately I made the mistake of being too trustworthy with the new type of brokers on the block now, cost me a chunk of my portfolio and my health at one point, but I decided to turn a negative situation into a positive one by using knowledge gained from the experience to my advantage and to help others avoid the same pitfalls, or if they had already fallen in then to help them get out again!
In general, certainly on web forums people are more inclined to talk about their trading prowess or investing success than their failures. understandable I suppose, after all they can be whomever they want to be on a forum, real life as we know is quite different.
The web is a marvelous thing when it is used for the good, but unfortunately it is also a marvelous thing to use for the bad!
A broker is more likely to consider the credibility of trading advice they offer a client sitting opposite them than a client they have never come face to face with on the end of an internet connection !
Tibbs
Gold will hit new highs and keep going, there are eye watering levels of debt, which will soon be approaching 250 trillion Dollars!!!!, endless money printing, debasement of currencies, its the perfect storm for Gold, but the fallout for so many will be unimaginable, meanwhile, the Billionaires just get richer, nothing changes.
Let's forget about Libelium (!)... What is the next big thing we are all waiting for CEY to happen, please?... I've got dry powder, but what I am waiting for?