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"I sold 40000 @135p It was very hard and sickening losing all that money my average was 270p"
The phrase, "It's only a loss when you sell," is total BS. Yes, the tax man views it that way, but any serious investor should not.
One knows one's lost, even before the sale. The value of your portfolio is as it stands right now, not what it could be.
Lunatic, that must have been very difficult and looking at the share price the right thing to do I would say. I hope your investments are recouping this now.
I sold 40000 @135p It was very hard and sickening losing all that money my average was 270p
See what the 30th brings.
Thanks gents, you both have good advice and maybe selling half maybe the way to go, I maybe naive but it just strikes me that surely there must be more value here but the comments about BP and Shell are well made. I think I shall wait until Friday at least, thanks once again
Maybe sell your sister's 40k and keep your pile if you fancy it. I'll obviously be holding for many a year.
Hi Newboy200. My thoughts are without prejudice & not to be relied upon for any decision making.
IMHO. Your Grandad believed he was doing the right thing for his family and believe me, there is no easy answer regarding the 80,000 shares. You can sell or hold. Yes a 6% dividend is better than the banks. But you don't know what will happen to the capital. The same with BP & Shell, if you invested today. No investor knows where this share will be in 3-5 years. Yes it is a turnaround challenge for the Management. Best.
Hi Helx, Let's see if Mr Conn can walk the walk! easy to talk about what you are going to do. Next Week you need the proof that he can deliver! First start with increasing the number of UK Direct Debit customers for Gas & Electricity and the same for Direct Energy in the US. They are the lowest cost to serve a customer....simples!
Thanks Helx and oliverthe hardy,
The reason I am asking these questions somewhat discreetly is my sister and I have recently inherited a large amount of Centrica shares 80,000 + my grandad worked for British Gas at privatisation and tool part in every share scheme and never sold a share, he even reinvested the dividends.
I have done a fair bit of research into Centrica and I have recently left University as a newly qualified Mechanical Engineer.
I know little of stock markets and we have taken financial advice and it’s 50:50 some say sell some say hang on 3-5 years and they will treble in value. My sister wishes to sell and I want to hold, by getting rid of Conn will be a start and a 6% dividend with growth seems good to me but I am not really confident hence the questions and wanting are large amount of opinions but you mostly all say change is required but very few say sell. Thoughts please if you all have time please??
It'll certainly be an education.....seeing what Mr Conn has to say for himself come the 30th. Yep, he certainly talked the talk when i dropped a couple of hundred grand in.
Newboy200 - from your previous posts you are very knowledgable on the Centrica story! Unfortunately there has been a destruction of shareholder value for the last 5 years..
IMHO. The BOD stated they will be the most efficient and lowest cost energy supplier of the big 6 in the UK. So just ask the BOD this question: What is the measure and definition of Efficiency you are using? Then put it on a graph and share it at the AGM..simples!
Oliverthehardy, if the dividend was cut in half at this price I would still see this as a ok buy. I am new to this and you seem knowledgable, I have seen companies turned around before, is it your belief that over a period of a few years this company cannot recover? Albeit with major cost cutting and new CEO.
I agree...a lot of ordinary shareholders have lost good money because they thought it was a safe bet.
IMO. Centrica ventured into the Oil & Gas exploration business when oil was high and now they are contemplating selling lower. Also the core business was neglected during this time and Management had little control of the core operating cost base where costs ballooned. Now Conn is spending your £ millions to reduce operating costs and FTEs who didn't need to be there..if you run an efficient business. Sorry Bazzer26 you are losing your money.
This idiot running Centrica has made a right mess of running a decent company. A lot of ordinary shareholders will have lost good money because they thought it was a safe bet. The only person who is gaining out of the companies mess is MR Conn with his pay rise,bonus and fabulous bonus. Yes he would have done better staying in Russia with BP. No chance of any small recovery until he gets sacked and I am one of the who owns a lot of shares. My saving grace is that it is not my biggest holding but I am losing big style. Good bye Mr Conn