Member Info for Alas_Smith

Reads as not a terribly enthusiastic statement in terms of market performance despite German contribution to me.

The only advantage (as far as I can determine) of a DRIP is the absence of dealing charges. Stamp duty and an additional charge when the bargain exceeds some amount ( I forget the threshold amount at which it kicks in ) will be paid on the transaction. DRIPS are not attractive to me as I prefer to choose where I invest my money and how, when or if I make investment decisions. Have always taken dividends in cash and doubt that this will change infuture years

September is a good month for an overhaul of portfolio. I’m pessimistic on UK prospects so am shoring up defensive holdings such as Ramsdens. Although revenues for defence suppliers will strengthen, the fizz seems to be over and strategic reduction will be made.

In common with you driftking27, I am giving focus to 2026 rather than getting worked up over 2025. FWIW, because many blue chips have earnings in $, currency valuations have had negative impact. And if there are problems in the West, then I look to the East and South for growth.

My portfolio has done badly this year, though I am at least in positive territory

Stanleyb, LGEN is basically a finanacial services company, its asset management division is the largest in UK, 2nd to Blackrock in Europe and in the top 20 asset managers in the world. It has the added bonus as a life assurance provider. I think it ditched its business as a general insurance provider some years ago. It generates huge free cashflows which, if the managers cannot find a more efficient use, are distributed as dividends or to buy back and cancel shares or both.

My portfolio is structured for capital growth and I have a buy order in once triggered with a rising price - I like to buy shares in successful companies and when the price chart shows steady rise. I may also buy shares if the price falls though if the price continues to fall it repeats mistakes made for decades of trying to catch a falling knife (though I might get lucky).

September is generally a month when institutional managers return to their desks. The St Leger in on 13 September and by then the decisions will have been made by fund managers on where to invest. A week after that is really the point when I'd want to make any structural changes to my portfolio. I do not have much invested in LGEN compared with other equities.

As the underlying business for LGEN is strong, the company has a long history of cash distribution and is featured in most, if not all UK income funds, cutting a dividend would be very much a last resort and, fairly unlikely.

Nothingspecial, I am an old timer having been building my portfolio since the late 1970's and if there is a single piece of advice I can give, is to pay heed to those giving a bearish note and filter those that scream praise.

FWIW, my portfolio remains structured for growth (I could easily last another 30 years and my wife a few years more) and risk remains high. High risk does not mean reckless! Quite frankly, investing right now if looking at AFC afresh is dodgy at best bordering on reckless. I've north of 100,000 shares which are underwater and will need the SP to almost triple to break even. My investment capital, as far as I am concerned is written off and I am looking for an exit based on the SP falling to nil or if there is news sufficiently important to retain my interest.

Consider investing like sloes - freshly picked (and I am waiting for the first frost) they are revolting, bitter and sour (much can be said of my brother-in-law). However, when left in sugar and gin for a few years, the resulting concoction is sweet, warming and a joy.

Wise learn more from fools than.....

Buffet has been moving to retain cash for at least 2 years. It is in advance of retirement and to give his successor a COLOSSAL cash pot with which to grow Berkshire Hathaway. Indeed the UK is in a complete shambles with badly needed reform to Civil Service pensions. Yes, AI will take over menial and repetitive tasks and initially the effect will be in reduction in headcount through natural wastage. As the IT revolution continues, so headcounts will reduce further.

What is needded therefore is an environment to promote enterprise and ambition. This concept seems alien to UK politicians regardless of their colours and certainly not helped with any of the advisor groups that appear to have great influence. It is not a short fix, but a fix that is needed. While this present administration had 13 years to prepare for office, it has made a complete hash of things. I cannot see an alliance between the Liberals and Conservatives happenning again and the earliest we can really expect an election is 2029.

In endorsement of casapinos, time in the market for investors is what counts. Sure a little luck helps, but investors that have been around for 40, 50 or more years will have seen most things by now that can and does affect capital invested. And markets continue and will continue to reach new peaks in the future. Sure down days are terrible (11 September twin towers was a good example) and markets react violently to these and will plummet. But while investors remember the single bad events, the good one I remember was the date set by Gordon Brown by which the UK gold reserve was to be sold - giving warning a full year in advance. Just needed to be buying in the many weeks either side and history did the rest.

Right now, I am buying gold in the guise of Sovereigns and Krugers. Am pretty certain that the fixation for cryptononsense will blow over and its bubble burst, but a fool and their money deserve to be parted. Buy at the sound of the cannons and sell with the trumpets

J_B, companies that distribute dividends at above average yields tend to be mature and have ceased to grow.

The strategy which I have taken, is the persuit of capital growth at high or elevated risk level. I am not for a moment suggesting it is correct for anyone else or will be beneficial in the future, simply that it has worked for me. If constructing a portfolio from scratch today with say £10,000, I would have no more than 3 holdings and with a clear goal, simply to beat the market.

The sectors I would choose are those which are growing or essential, IT, Healthcare Medicines and Defence. Next, I would look at geographies where these are found and finally ensure that I have an exit strategy, both when things go well and if they sour.

We learned that the Tariff Policy has been ruled unlawful but, of course Trump will take things to the Supreme Court in October. September can be a poor month for investors as Wall Street, the City and that ilk return to their desks but October through to january have, for the most part benefitted investors. This may happen this year, but is not assured.

Anyway, investing is not a race, cut losses early, run profits, be bold, yet cautious and distrusting. If you cannot see how a company makes money or do not understand what the business does, walk away. If the managers provide evasive answers or refer you to their accounts this could be a red flag moment. Similarly, if they are gushing with enthusiasm with projection and ambition, discover if they have done this in other enterprises in the SAME role. A brilliant salesman might be a terrible manager and an average accountant might be able to disguise a failing company (Marconi is a good example).

So, have a strategy, find the sectors, geographies and businesses that will best work for you and then the individual companies which you are comfortable to hold, that are well run etc. The quieter the bulletin board or that which has measured, thoughtful and balanced comment might narrow things a little. Those contributors with bearish comments are more useful than those singing praise, I think.

Good fortune, I hope will be yours - enough of my drivel. Enjoy the weekend

I disposed of the holding which was purchased for elder son in his SIPP yesterday as my hunch was that the bulk of growth has occurred (and this reflects in the excellent results published today) and the share price had become a little overbought.

Never wrong to bank a profit, but for the time being, happier invested in other sectors/geographies. Good fortune to all.

Taken opportunity to add some more shares for elder son in his SIPP today.

Where research analysts are consistently wrong on an equity or sector, they are extremely valuable to an investor and best do precisely the opposite from that recommended.

Cannot pretend for a moment to have got things right all the time, but these days mistakes are fewer

Chid, the total, (according to shorttracker.co.uk) is 1.01% short which IMO is neither here nor there. However, the site does not track positions under 0.5% so the total could be closer to 2%.

Received opinion is that the higher the yield, the greater the risk. And those institutions which do sell short tend to focus closely on risk. The next observation that investors have in their armoury is that companies paying dividends tend to be mature and do not need the cash as they cease to grow. I suggest that LGEN is in that category.

This part explains why I am happy to have a few dividend bearing holdings in my portfolio and in the case of LGEN 8% yield or thereabouts from 1% portfolio has some merit.

An excellent contribution, Lending. It got me thinking about the different trade volume types, in particular the bargains where the quantity is 0 and what they are. https://docs.londonstockexchange.com/sites/default/files/documents/mit201-guide-to-the-trading-system-15_6_20240429.pdf the answer is found starting on page 26 and describe hidden bargains and limit orders

BetterDaze - there is a "golden share" with BAE and Babco ck that prevents control of company falling into foreign hands

Markets when falling take the elevator and when rising, the staircase. If you recall in 2020 the world was gripped with Covid 19 and as the world shut down its doors, so the shareprice plummetted from a little over 300p to about 140p in a matter of 2 or 3 days. When vaccine was announced, the world sighed with relief and markets responded favourably to return to above the 300p mark in 2022. And then when Russia invaded Ukraine, stock markets around the world fell. The SP continued to fall in 2022, and 2023 but began to recover in October of that year.

Yes, there were a few good days, but it was only really after a period of consolidation, and we remained in that consolidated range 225p - 250p for a longish time. Meanwhile, LGEN continued to churn out dividends. Investing is not a race and will reward the patient, which, provided that profits are taken from time to time to "upgrade" the portfolio and fewer duffers are bought will reward the investor. Although I claim to target capital growth, it should be better described as total portfolio return.

Have bought a few shares for elder son in his ISA today. Time will determine the folly or wisdom of this decision in persuit of capital growth

I think you meant Alas, rather than Alan - for about 15 years I contributed on another site as Erogenous Jones - it all got rather nasty over there and I left. It is simply a pun that can connect dots if anyone is interested in my drivel. The 1% refers to the value that LGEN has for me in my portfolio. There are currently 71 equities and investment trusts that make up my portfolio and some sectors are out performing others and have done for some time. For instance, where holdings in which I have say more than 3% wealth invested (Nvidia, Microsoft, Broadcom) does the heavy lifting for me. Even though the share price for LGEN has been rising, I have no problem whatsoever in adding.

The triggers I have are to BUY if the price exceeds that for the broad trend and another if it exceeds a high in the last year. Therefore the figures are 260p, 263p and eventually 280p.

Although dividends are always welcome, my preference is for capital growth. After a cracking start in January things all went south very quickly with the tariff policy imposed by Mr Trump and by 3 April from being up around £45k in January, I was down a little over £194k. This has recovered so that I am in positive territory for the year, but a long way off the gains seen in the indices of DAX, FTSE, HSI, though I am above that for the CAC40 and pretty well mirror the S & P.

In valuation terms, 1% is over £10,000 but under £20,000. I am preparing for retirement but have not reduced the risk exposure which remains high. And while this might seem a little odd, it is quite possible that I or my wife survive for 30 years, a time frame that is best suited to a fruitier approach than perhaps is cautioned by journalists. Not sure if this helps, but averaging UP shows confidence whereas down, desperation.

The can was opened 50 years ago with the decision to sell off all the council homes. Nothing wrong with that, except that the proceed could not be used to provide replacement housing stock. As a nation life epectancy has steadily risen but incentive to save has receded through artificially low interest rates from the banking crisis in 2008. Bung in Covid 19 following dreadfully negotiated exit from Europe and the dignity to maintain a lifestyle that should have been rebased in the 2010’s that wasn’t meant that when Russia invaded Ukraine and the constant tension in Middle Eastern nations the collapse in living standards that should have taken place didn’t. Cowardice at State level to provide honesty and integrity has ALWAYS benn around and the inability to recognise this remains.

In short, incentive to generate wealth was stifled by politics in 2008 through reckless banking, stamped on by successive political masters by broadening “control” inevitably leads to a disincentive of entrepreneur and enterprise. Theres no “nice” short term answer. AI, SHOULD start to do the hard work in replacing people, particularly in administration (public servants) where jobs through natural wastage are not replaced.

Meanwhile, I’ve put in a series of limit buy orders for LGEN to try to maintan a weighting of 1% exposure to this equity.

Have added a few shares for younger son in his ISA. Seems a decent entry price, besides, he (or rather I on his behalf) is building a core where the intention is for capital appreciation and a little income in any interim period.

Buy the rumour and sell the facts.

A possible suggestion for delay is due to a strengthening $