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Glad I sold my last lot this morning at 93.3 with a small profit. When I saw the Chinese confirmed they're not moving anyone out of their embassy in Kyiv that was a clear sign Russia won't invade
Its good that the invasion wont happen, but bad for safe havens like gold when everything else goes back up. Ah well, will continue to hold.
Unfortunately gold is no longer the best safe-heaven asset, I personally rather hold US dollars than gold as a hedge.
Depends how much of the gold price is because of being a safe haven and Ukraine, and how much is beginning to catch up with increasingly negative real interest rates: if the latter the pullback may be short lived IMHO
interesting call wildtiger. The USD money supply expands without limits. It floats on trust, which must surely be in short supply. If you think trust is well founded read on, and watch the disgraceful revelations now hitting the street in the US
The latest from the US about their former leaders ...
The 2016 Hillary Clinton campaign’s bogus Steele dossier of allegations against Donald Trump deserves its infamy in the annals of political abuses. But if a Friday filing by Justice Department special counsel John Durham is accurate, the creation of yet another Clinton-backed bundle of deceptions was no less appalling.
To sum up the special counsel’s argument in this case, an appalling abuse of private and public resources to gather dirt on Donald Trump did not turn up any dirt. So the alleged perpetrators just pretended they had found something significant and tried to persuade federal agencies that Mr. Trump had disturbing connections to Russians. Mr. Sussmann maintains that he is not guilty and deserves the presumption of innocence just like everybody else.
As for the political campaign that was paying the bills, was there anything that Hillary Clinton would not do to her 2016 opponent?
More at ...
https://www.wsj.com/articles/hillary-clintons-other-dossier-11644852226?mod=trending_now_opn_4
You trust the US Govt? Many wouldn't. Good luck
https://www.washingtonpost.com/world/2022/02/01/what-is-nato-treaty-article-five-russia-ukraine/
the gnome
I didn't want either Clinton or Trump , neither were fit for office,certainly the latter has proven that!
So now they got Biden lol
Quite agree Steve, but then Americas presidents are really chosen and controlled by the shadows behind the closed doors, those with all the vested interests and money in keeping things the way the are which will ultimately destroy our planet.
Hi Sotolo,
I'm sure we all agree that its by far preferable that Centamin will come good out of it's performance rather than because there is a risk of a nuclear war in Europe.
We have friends in Germany and its widely known across Europe that UK Governments ministers have been regarded as a joke by the Russians in the Ukraine negotiations, however the Russians do treat the German representatives with great respect and take their views seriously.
It was always going to be a case of wishful thinking on the part of those that popped in here hoping for a sudden meteoric share rise, but then had they obviously hadn't realised the severity of the loss of market confidence that the behavior of the previous management had brought about.
The BOD realise they are in "The Last Chance saloon" and Martin Horgan in many respects has Carte blanche" in order to turn things around and to be fair so far as the available news suggests he appears to be doing just that, look at Cowichans post ,some remarkable and measurable progress has been made at Sukari in the clean up operation which so far is well ahead of schedule!
Thinking back the reasoning for Centamin to embark on so many projects outside of Egypt in most respects is no longer valid, in fact quite the contrary would seem to be the sensible and certainly less risky option to follow now and for the foreseeable future.
I wonder if any of our short term traders had bothered to buy any Shoe Zone (SHOE)aim market
Just over a year ago?
Last year I was sitting in a pub in our otherwise run run down town center opposite one of their stores ,I noticed just how busy they were and the flow of shoppers was pretty constant, I watched the shop on several other occasions before deciding to go in.
Whilst trying on some £6.99 deck shoes I asked the assistant is she had been busy, she replied that they were always busy everyday, I bought two pairs of deck shoes for £10 and left.
Next day I bought in @61p and sold around a year later at £1.52.
Just luck maybe, or possibly taking the trouble to do some on the ground research helped?
According to the latest reports of British media, Russia is to attack Ukraine on the night of Tuesday to Wednesday, reported the tabloid 'The Sun'. Sources close to US intelligence say up to 200,000 people could participate in the invasion. Russian soldiers.
I didn't know the Sun has developed some kind of mind readnig machine that can read Putin's mind lol
Russian army returning to barracks apparently which is great news for us all. Pog obviously retreating too but I'd rather not profit from war anyway. Centamin will come good on its own back given time.
Mr T I was suggesting that the big thing that would make Centamin come good is a higher gold price, rather than improvements in its output and costs which are rather limited. I was also suggesting that the rises because of events like Ukrine are often short lived and that I hoped this time the rise was partly because of economic events which we all believe should drive gold higher and might finally be beginning to do so. We shall see if indeed this gold pullback is temporary. Of course I am also sure that most of us would prefer a much better economy that didn’t raise gold, but most of us see the terrible economic situation that should at sometime make our insurance policy payoff
Here is another take on the stupidity of the markets and the money men...from Ray D
It seems to me that people who received a lot of money and credit and felt richer, central bankers and central government officials who created a lot of money and credit and said that it wouldn’t create a lot of inflation, and people who believed what these officials said would all do well to review the lessons from history.
More specifically, this time around (i.e., since early April 2020) central banks (most importantly the Fed) and central governments (most importantly the US government) gave people, organizations, and state and local governments a huge amount of money and credit, and now most everyone is surprised that there is a lot of inflation.
What is wrong with these people’s thinking? Where is the understanding of history and the common sense about the quantity of money and credit and the amount of inflation?
Indeed whats is wrong with these people?
https://www.linkedin.com/pulse/where-we-big-cycle-money-credit-debt-economic-activity-ray-dalio/
If you dont believe Ray in 2022 try 1852, the EXTRAORDINARY POPULAR DELUSIONS AND THE Madness of Crowds.
Part of the human condition. The trouble is with the people who read the true history and recognise the madness and delusions for what they are worth ...
"This time it won't end in tears" etc "Things always go up" "Bubbles dont burst"
the gnome
I've heard so many money men,give interviews recently.
Every single one of them, criticises the Fed and all central banks, who printed money, to keep economies going.
Not one Considers, what would have happen during the lockdowns, without it and other simulas packages like the cheques given out in the USA and the furlong schemes and selfemployed support in the UK.
Reimagining money, banks and our economy for the well being of people, communities and our planet
The campaign for a money and banking system that enables a fair, sustainable and democratic economy.
https://positivemoney.org/
As the coronavirus pandemic recedes in the advanced economies, their central banks increasingly resemble the proverbial ass who, equally hungry and thirsty, succumbs to both hunger and thirst because it could not choose between hay and water. Torn between inflationary jitters and fear of deflation, policymakers are taking a potentially costly wait-and-see approach. Only a progressive rethink of their tools and aims can help them play a socially useful post-pandemic role.
Instead of ending QE, the money it produces should be diverted away from commercial banks and their corporate clients (which have spent most of the money on share buybacks). This money should fund a basic income and the green transition (via public investment banks like the World Bank and the European Investment Bank). And this form of QE will not prove inflationary if the basic income of the upper middle class and above is taxed more heavily, and if green investment begins to produce the green energy and goods that humanity needs. Central banks are not constrained to choose between paralysis and contraction. A progressive monetary policy would lift interest rates while investing the fruit of the money tree in climate action and reducing inequality. If it helps to sell the policy, call it “sustainable monetary tightening.”
https://www.project-syndicate.org/commentary/progressive-recipe-for-monetary-policy-tightening-by-yanis-varoufakis-2021-10?barrier=accesspaylog
Thanks Mr T.
I think the pandemic has provided a great opportunity to re-assess a lot of aspects of finance, economics, politcs and the role of heath professionals.
https://sites.krieger.jhu.edu/iae/files/2022/01/A-Literature-Review-and-Meta-Analysis-of-the-Effects-of-Lockdowns-on-COVID-19-Mortality.pdf
One of the conclusions has caused great concern in Australia
“Studies looking at specific NPIs (lockdown vs. no lockdown, facemasks, closing non-essential businesses, border closures, school closures, and limiting gatherings) also find no broad-based evidence of noticeable effects on COVID-19 mortality. However, closing non-essential businesses seems to have had some effect (reducing COVID-19 mortality by 10.6%), which is likely to be related to the CLOSURE OF BARS (!!!).”
The city of Melbourne is considering a class action about their being locked in for 264 days
"Overall, our meta-analysis fails to confirm that lockdowns have had a large, significant effect on
mortality rates. Studies examining the relationship between lockdown strictness (based on the
OxCGRT stringency index) find that the average lockdown in Europe and the United States only
reduced COVID-19 mortality by 0.2% compared to a COVID-19 policy based solely on
recommendations. Shelter-in-place orders (SIPOs) were also ineffective. They only reduced
COVID-19 mortality by 2.9%"
Some wasted opportunities?
Lets not lose the opportunity. Lots to change
the gnome
I know that im preaching to the choir here but at at this price centamin is paying a 12% dividend.
Further downside is minimal but there's so many good news irons in the fire that could surface without warning catapulting the sp up to who knows where.
Just off shopping to the supermarket now looking for something overpriced to buy ; )
The current dividend is more like 5%, not 12%. If you are in this for divs you will be disappointed this year, far better options elsewhere
Don’t think a dividend cut is on the cards.
A 5 cents dividend will be paid in my opinion.
Be a while before you even got 5% in a bank account :-)