Member Info for 67Sam

"Absolute idiots"
Someone has to take a lead on balancing the needs of those who want and can afford meat and dairy with the problems built into intensive farming. The early adopters will always be called idiots and worse.
Problematic thing methane - although shorter lived than CO2 it has a much potent effect on the atmosphere trapping in heat.
But I appreciate I am in a minority of a very few that care on this board.

Loki
'She's ruined the country, the economy and any chance of winning the next election'
If thats true, then look on the bright side.
At least one of them gets it.

WW
"...shelf life of a lettuce"
The opening paragraph of the article is the best summary I have read yet:
"Liz truss has already secured a place in history. However long she now lasts in office, she is set to be remembered as the prime minister whose grip on power was the shortest in British political history. Ms Truss entered Downing Street on September 6th. She blew up her own government with a package of unfunded tax cuts and energy-price guarantees on September 23rd. Take away the ten days of mourning after the death of the queen, and she had seven days in control. That is the shelf-life of a lettuce."
https://www.economist.com/leaders/2022/10/11/liz-truss-has-made-britain-a-riskier-bet-for-bond-investors

Suf
Up to you, but you'll get sore either way.
This isn't about whether rags are left or right wing. Government borrowing is a public issue, the cost of borrowing over ten years briefly went to the highest since 2008 today. Back to the level that sparked the BoE intervention. Mortgages are at 6%. Whatever your politics, most people (ok maybe not Skier) would agree the PM and Chancellor's actions have been reckless and damaging.

Falk
Just fell to 39.6p now, it didn't take long. Crater sized loss today I think.

Morning Falk
Yes, I now think there is a very good chance of your target being reached. My previous optimism has been somewhat Trussed.
Good luck.

I think we can say resistance at 42p is now smashed.
Will it go sub 40p? Showing at 40.6 on live prices right now.

Gazzle
"Three consecutive buy backs, three disappointing share price on completion. Einstein's theory of insanity applies."
I take from that you would have preferred the 2.something pence as a special dividend. Other people here do agree with you, but not everyone.
Imagine for a moment if this special had been paid, and 71.5B shares remained in circulation now, increasing year on year.
Do you think the SP would be higher or lower than it is now?
Did you expect to see real time increases in the share price day by day throughout the buyback, or did you expect the benefit to compound over the long term?
Do you think all buybacks are insanity - or just the ones Lloyds perform?

Gate
Read it again:
"spend more time here
similarities yes but more differences"
Meaning you two are a bit alike, but different people. Sorry you didn't spot that.

loki
"are you GateBoy is cunning disguise?"
lol lti is gate
spend more time here
similarities yes but more differences

beat
"the SP is still lower than when they started."
Yes, it is disappointing but it would worry me more if it was the only bank having a hard time right now. FTSE is at least 10% lower than when it started, Lloyds nearly 20%. But it had lost that much by early March, and it has see-sawed back and forth throughout the purchase period.

And..
Yes, I think so, it went a lot better than it might have. Without any buybacks the shares become diluted through staff rewards and this is a much bigger cancellation than expected from £2B. I would be happy to see it repeated at similar scale next year.
There are many other people like you who would have preferred it paid back through special dividend. I am not one of them, but fair enough, it's a point of view, so I agree one could say that. Especially if one felt a bit robbed.

Ram
67.5B in issue now so I assume they cancel after each day.
4.53B cancelled is pretty cool. It did make me think of the risks of buybacks had the price stayed stable around 50p for six months and then sank. I don't agree with those that say we have lost money on it though.

"The guy is a bit of a disaster zone..."
Is like calling Ebola a bit of a nuisance.

Admittedly Lloyds was their least preferred choice, but it was emphasising the strength of the banking sector.

https://www.proactiveinvestors.co.uk/companies/news/994917/lloyds-and-barclays-tipped-to-reward-investors-that-ride-out-the-storm-as-analyst-sees-uk-banking-sector-in-extremely-good-shape-994917.html

Minnie
"Sub 30 soon.."
How soon do you think that will happen? And for what reasons?

Eviking

"Despite constantly complaining about the show and how terrible some acts are, they always return for the following week and occupy their usual pair of seats in the balcony. Their reasons for doing so are a mystery even to them, according to one version of the Muppet Show theme (Waldorf: "Why do we always come here?" / Statler: "I guess we'll never know")"

I think they would be quite at home on this board :)

" grinning empty minded Truss dismisses it"
Someone whose level of personal ambition contradicts the evidence of her achievement is unlikely to spot that the increased energy prices represents a key double win for insulating housing stock and conversion of domestic heating away from natural gas.
Ms Truss favours fracking and issuance of new North Sea drilling licences.
So I think thats a clue as to whose benefit she is governing the country for.
The woman is a disaster.

"I'm not sure how there's a 15% discount?"
It's all quite abstract. I was making the point that the average price purchased would need to increase by 15% to return to the level it was when the buyback announcement was made. The BoD obviously thought it was good value at that price, but during the purchase programme they achieved an average cost per share at a 15% discount to the price at the time of announcement. They would have still spent £2B either way; had the share price remained at 55p they would only have clawed back 3.6B shares, or at 49p they would have reduced by 4.1B. As we have seen there are already 4.5B now cancelled.
Sorry to labour the point, but it still seems like a win to me.