The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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This is the 'calibre' of people running this appalling ****show - crying about "corporate bullying" from the media!
They will not admit the abject failure of their puerile rebranding, and this company (and its share price) will do nothing until they face the facts, admit the egg has run down their faces and solidified into a putrid mass and grow up.
https://stocks.apple.com/A9Nb3ZcH8T4a05bRyiBpYuA
Thanks David for the insight, very useful indeed.
Regards Bro-k
I wasn't expecting to get it or even be interviewed. I was just flagging up my presence to see if there was anything over on the Asset Man side - Wealth Man is very dull and badly managed. They probably pay the best around the financial companies in Edinburgh, but I left as they are just badly run and I had taken enough age discrimination already. HR are a bunch of middle-aged white women! My contract was up and I could not rationalise staying on, so I left despite being told I was being made permanent.
But yes, I found myself in some hot water for criticising a number of things, notably diversity and the 'Power of Investment' campaign (no, i don't suppose you remember it). Their first push on diversity was 2015 with a Diversity Summit featuring Eddie Izzard and Bozoma St John (diversity hire booted from Netflix in Feb 22). I was a recent critic of both Britvolt and fixation with the Far east and EM. Turns out I was right - maybe I should have had the job!
So Dave you have revealed why you are negative with an agenda. You didn't make the cut.
They still have quite a liot of resources availaible so I suspect the divi will be maintained for tjhe next few years at a minimum of 14.6p a year.
They paid £1.5 billion for ii this generates about 100 million net profit. They have a £600 million investment in Phoenix.
So they have identifiable investments of £2.1 billion.
ABDN is valued at about £2.5 billion they also have £494 billion of assets under management .
I think it will recover slightly over the next 2 years but I am doudtful it will get to £2.
Interest rates coming down should mean more money into equities.
The part of the business, which is a big part, which is not performing is the fund managment side. Which was why Bird was thinking about selling it.
If they can turn this side around and get a net increase of funds invested all will be fine over 5 years.
If they continue to have a net outflow of funds then a vualtion of £2 billion would be about right! 20% lower than where it is now.
On the positive side the adjusted profit figure just about covers the dividend. So they do seem to be making progress.
One of my bigger mistakes buying this share. I'm in too deep to get out until a strong SP recovery takes place. What do you think could happen over the next 12 months or next 5 years.
Having been a critic of their strategy to go for the Far East and EM, I would say ‘No’ - having been rejected without interview for one of 6 Inv Analyst jobs they had in summer 22 for not having the “right experience”. They were and are very keen to flag up the number of female fund managers they have and reckoned ‘diversity’ was one of their key values - since 2015 - so I would say neither will help them.
There has been a lot of private equity activity in wealth management recently, but who would want the asset management business - could be an issue with flogging off the platform too. So, a t/o is still unlikely, despite Bird’s best efforts to minimise the share price.
Runner2018 - If you place a 1-year chart of the SP performance since 2015 it reads 505p down to 138p counting including div it is slightly less painful from a price of 285 to 138 but are they ever going to harvest any fruits from their role out into China?
And new ISA financial year coming. I added £4K today as well, not at the lows (of course ffs) but 136.98. See what next week brings, US market well up after yesterday drop, even with a strong US jobs reports.
Risky business buying UK equities at mo , but surely these will rise again when dividends are reinvested after 30th Apr, took a few
https://www.standard.co.uk/business/london-stock-exchange-shares-ftse-100-crisis-equities-fund-outflows-b1145526.html
Ah, the joys of diversity ; apparently, Amazon is a big believer in diversity as the more diversified your workforce, the less likely they are to unionise or just gang up on you; could this explain the lack of criticism of Bird brain?
Extremely oversold 2nd inside bar on the weekly low of 136 a close above 160 and the heavy shorts may start to fly/emigrate
Double bottom on the daily chart, should see short positions reduce now.
Pretty sure there will be companies looking at ABRDN with a view to buying it, much the same as Phoenix. Sit, wait and collect dividend.
One of my only stocks left that id reinvest a divi in, because its share price is low.
Beta of over 2! And a management of without a clue - if you want to read Bird's crapology, try this at p.2 https://www.abrdn.com/docs?editionId=32cb561e-c19c-450e-8bbe-185d50f9b52f
137 to 145+ and back again. Thanks USA 😊
£1.84 is my 20% profit but would like to see shares over £2 again.
No doubt Bird is looking for more cost cutting moves….how about a VR board or CEO?
If ABDN try thinking they are smart and buy anything remotely bitcoin related i’m out before any stupid dividends get chance to land. Worlds gone mad.
Katenip > How he managed to get awarded performance bonuses after such a dismal SP for the past 3 years is beyond logic. What is the board thinking?..
We’ll all sell if we make 16-20% profit…what does this mean? The share price is at an ‘historic. low…if you buy today , you might hope for 16% …
Stuffed birds make an excellent alternative to lamb at Easter
I brought back in a while a go for dividend,will sell if prices rises so I can make 16 - 20% profit.
Keeping taking the divi has worked well with some cos EG: LGEN over the years but ABDN?
Just pouring more money down the sinkhole…averaging down all the way and it still falls .
When will the BoD take a look at Bird with a more objective eye?
Appalling…and I am sure the ABDN name isn’t helping their ITs trading to NAV much.
The only bright light in the gloom is interactive investor…maybe Richard Wilson would be a good starting point for a list of alternatives to Bird?
FYI: LLucan if you have held this share since January 2020, you may have made £ on the dividends but your cost price 2/01/20 would have been £3.36. ..c.60% loss in capital.
Keep taking the divi