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Largely agree, CSB, although I stand by my previous comments regarding trimming the fat at the same time.
As I keep saying, this is a great outfit, but to unlock its full potential, needs a strong leader, as we had with the founder.
As to the question of the next dividend, not sure it has been announced yet.
When is the next dividend scheduled to be paid please?
IG is a professional platform. It is not so much impacted by "punteres" who put money into savings instead.
The geopolitical upheaval pretty much nails it for IG. Revenue is rolling in - and trading is not going to stop.
This is not a RETAIL PUNTER outfit like cmcx. Alexxandro, you seriously need to study the markets a little bit more, IG don't work like that. You don't seem to know what you talking about. But best of luck to you and keep your money out of here if you think it's not right. I see this as a real-safe heaven for now, even if capital gains are low, dividend is now 7.3% and safe. It's likely to rise in the future too. I beg to differ on your post, professionals are not losing taste for trading, you talking about ignorant folks who trade for a year at best then leave. Pros thrive on volatility - which is only set to increase. I am looking forwards to have egg on your face.
Not sure I entirely agree - increased volatility should be good for us - and I think the bulk of our clients are professional traders, not the meme-stock crowd (who I agree probably are starting to put cash into savings, rather than trading now...for those who have not blown up their p/f anyway).
But if you are right that revenue and earnings are going down for a year or two, then all the more reason to make significant cuts to the headcount here right now.
Along with far less generous remuneration, from the top down. Until revenue and profits have returned to where they should be. Basically far fairer performance-related pay.
And while we are at it, put a stop to that foolish 1% post tax charity donation that I think June initiated.
Let shareholders make such decisions on an individual basis.
Are insiders short sighted and want to take the money now, rather than waiting for a couple of years and double it? Answer: insiders are not short sighted, they know the time to sell has come, and for a good reason.
Truth is we are in a falling market. People are losing their taste for trading and sticking their money in saving accounts, even locking them away for a good one year or more. IGG revenue will be impacted for 1-2 financial years due to capital outflow (lower interest on capital) and lower trading activity. Lower revenue will impact earnings, which will still need to be interest-discounted by a solid 5% (vs. near zero interest just over a year ago). I can see the share price continuing on its downward trajectory, unfortunately.
And another name to add to the list of people to try and get rid off, should the next update be poor.
Should be buying not selling. After all, as global head of strategy and corporate development, surely they are confident that they have justified their remuneration to date, and that their performance means we are going to see a much higher SP soon...meaning they are giving away their golden tickets for much less than they are worth?
Getting pretty fed up with this now.
Another inside sell declared.
If it turns out that the next update is poor, some of these people need to be fired, IMO.
This is a terrific business. We just need a strong CEO to harness the potential.
Which means scaling back pay in some areas and far better target-driven incentives, where the current high levels of remuneration in some quarters are predicated on a far higher SP, for one thing.
Meanwhile over at VANQ it has been confirmed that ex CEO MLM was as much use as a turnip.
It never ceases to amaze me how far one can get by simply having a plummy voice.
Hopefully we are making good progress on the CEO hunt.
Just seen that we have a disclosed short, registered a couple of days ago.
Might explain some of the SP action of late.
Hope they have got this one wrong! GLA.
I take it it's a good time to buy with volatility kicking off, interest rates will remain high for a bit longer. Plus 7% yield , the sp is at a 3 year lows now, I think it dipped to 620p where it has bounced from. Last we were lower was March 2020 corona chaos.
A new CEO is a given of course. Getting a strong one is vital. Not somebody who is going to come in and look to make radical changes to what is a fundamentally strong, cash machine business.
I want to see the new CEO focus on strict cost controls. Reducing costs. No more M&A activity. At least not in this current climate. Build an even healthier balance sheet. Good enough a strategy for the likes of Berkshire Hathaway, certainly good enough for us.
I use IG, not as my main account, but as second account because the platform and execution is the best in the market. Yes IG has done poorly recently but I wouldn't listen to a word Ace says as he was selling Tcap at 120p right near the bottom. I would imagine that IG will improve at some point not sure when. There is always the generous dividend if nothing else. But defo the CEO needs to be replaced
I use hl and because I don't have trusts, just shares, they are very good value, and good service too.
I can't comment on pricing of trades, but it's not previously been a material issue for me (as an investor, not a trader)
Lol. Snap! :)
Yes, I too noticed that AS/TMS simply has to have the last word...... which is what drives me to ensure that doesn't happen......lol. I have a daughter who is very similar (can start a fight in an empty room) however slightly less vitriolic and demeaning.
I had a brief glance at his posting history last night. There is certainly a pattern :)
Defending your opinion and even firmly disagreeing with another POV is absolutely fine.
It is the bedrock of these forums, after all.
But when you play the man, rather than the ball, well, it is simply not cricket.
Usually I tend not to engage in such scenarios, but occasionally I retort with equal immaturity. As I did last night :)
I also thought he would find it impossible not to have the last word.
A shame really, as he makes some solid observations. Some I actually agree with. It is more the macro stuff that we seem to be entirely at odds with, and that which seems to enrage him :) Hey ho.
LWHL, it's nice to see that AngerSharkz/MoneyShark is dishing out the grief to other forums here and not just IDS.....lol
My understanding is they tend to 'pay' through worse buy and sell prices. I think one of the similar US types also sold customer data as a further method of extracting profit from providing no trading fees.
But I cannot remember the specifics now, so do not quote me on that, as I may be mistaken! I have no idea whether similar would apply this side of the Pond.
Regardless, I too am more interested in the service provision. And the more competitive buy and sell prices. Which add up quite quickly.
I guess as long as they are making more than they lose, then they may not care. That is the goal we all share, regardless of the platform we use :)
My sons both use etoro. They pay no fee , but they do say they pay more for the trade generally. Dont know too 6much about the background either, like who owns them. Dont know what size trades they take etc. not really concerned about fees on trades whether its £5 or £10 is pretty immaterial, its the service that counts.
Because, IMO, IG is a far superior platform to those you mention. Again IMO, serious traders are less likely to use them versus the likes of IG. Deep pocket money, not the ever diminishing pool of small retail gamblers/traders that flourished during the Covid meme phase.
No question is too trivial (well, your one was not anyway!) so no need for apologies - and I could be wrong of course. GLA.
How will companies like IG (not to mention HL with its expensive fee structure) compete with the likes of eToro and Trade 212? Sorry if the question is too trivial
Merchants Trust have it in their top ten holdings, obviously helps their generous dividend payout, but they do also have to consider the strength of the companies they invest in.
Not sure about your TastyTrade comment.
It was a disaster but it has, albeit accidently, become a huge asset in the wake of rising interest rates. There is now significant income through interest earned on US client money. Were we only the old outfit, we'd be seeing revenues decline.
I have held too large a tranche of IGG since I can't remember when; average cost £6.20.
The Julie Felix reign has been an unmitigated disaster for shareholders, if very rewarding for Julie Felix personally. Why do I write that? The numbers tell me.
IGG Annualised Total Return: 1Yr -9.53% 3Yr -2.36% 5Yr 0.65%
FTSE 100 ATR 1Yr 9.97% 3Yr 12.52% 5Yr 4.80%
I and all other shareholders would have been much better off with the money in a FT100 tracker. Tasty Trade was a hopeless buy and it has subsequently had huge amounts of cash thrown at it to try to hide/rectify that.
The whole BoD is culpable for letting this happen.
IGG sits in the "too cheap to sell bucket".
AceOfClubs
Completely agree. Now is not the time for M&A anyway, IMO. We simply do not need it. Wrong time more generally, too.
Indeed, we need to make sure TT is a profitable arm of the overall entity on a consistent basis. Improve operational efficiencies (cut costs) across the board and keep a significant war chest for what is surely going to be a challenging period of the economic cycle.
But equally a period of time that should suit our business well (heightened volatility etc).
As long as the BOD (and new CEO when they join), avoid making stupid decisions, this should be a fairly comfortable hold for the medium term at least, but hopefully many years into the future too. GLA.