Member Info for AllAtSea

In the USA politics is never far away. Even in the FDA.

"The UK this year became the first country to authorize Blenrep, in combination with other oncology drugs. That was for some patients with multiple myeloma — an incurable blood cancer — after they received one previous treatment. The European Medicines Agency also greenlit the drug, with formal approval expected later this year.

Blenrep was previously withdrawn in the US and Europe for use in a different group of patients, after it failed to prove it was better than existing treatments.

GSK subsequently investigated Blenrep’s use in combination with other medicines and as an earlier line of treatment. It found it reduced the risk of death by 42% compared with a drug sold by Johnson & Johnson.

Following the withdrawal of the drug, analysts removed Blenrep from their sales projections, but recently optimism had been growing that the medicine would return to market in the US."

https://www.msn.com/en-us/money/general/gsk-falls-after-fda-advisory-panel-fails-to-back-cancer-drug/ar-AA1INxn1

I have made a cautious top up, expecting the possibility of a further fall later in the day. The next dividend will be declared 30 July with ex div on 14 Aug, payment 9 October.

Being able to vote is a sign you don't live in a dictatorship. Under a dictatorship you own nothing and you have to learn to be the biggest sycophant (to put it politely).

Polar Capital cuts big tech as AI growth clouds Mag 7 dominance

Polar Capital Technology has pulled back on its position in two Magnificent Seven companies as AI could hinder the US mega-caps

"Polar Capital Technology Trust (PCT) has pared back long-held positions in US mega-cap tech giants, including Alphabet and Apple, as managers Ben Rogoff and Ali Unwin question whether the Magnificent Seven can maintain their dominance in the age of artificial intelligence (AI).

In annual results to 30 April, the £4.3bn global tech fund said sentiment toward the mega-caps was starting to shift, pointing to China’s DeepSeek large language AI model and investor unease around ballooning capex as early signs of disruption to the AI leadership narrative."

https://citywire.com/investment-trust-insider/news/polar-capital-cuts-big-tech-as-ai-growth-clouds-mag-7-dominance/a2470016?re=133004&refea=222385&link_id=1907220

Https://uk.investing.com/news/stock-market-news/rollsroyce-wins-547-million-us-navy-contract-for-mt7-engines-93CH-4166449

Talking of cost savings, I was interested to learn that AV. is well into the use of AI to enhance its operations. Not merely to reduce headcount, but also to improve the handling of claims, an increasing cost to the industry. Fraudulent claims are the equivalent of shoplifting, too easy these days.

Still under valued. IMO.

If only the USA could be trusted..

Today I read that the World Bank has downgraded world economic growth and blamed the obvious culprit. They suggest that the country best placed to weather the storm is China, due partly to their mineral wealth.

https://www.worldbank.org/en/news/press-release/2025/06/10/global-economic-prospects-june-2025-press-releasehttps://www.bbc.co.uk/news/articles/cg4v9nr23r7o

UK banks to experiment with Nvidia AI in ‘supercharged sandbox’ scheme

Financial Conduct Authority launches initiative to ‘speed up innovation’ and help spur economic growth

https://www.theguardian.com/business/2025/jun/09/banks-city-nvidia-ai-uk-growth-financial-conduct-authority?CMP=Share_iOSApp_Other

Bought a few more with dividends from my UK insurers. Been a bit wary of increasing my holding, but my other stocks are way too high to add to and IMO this is still undervalued.

Phoenix Group plotting rebrand to Standard Life - report.

Pensions provider Phoenix Group is reportedly plotting to rebrand itself using the historic Standard Life name it acquired four years ago.

https://www.investments.halifax.co.uk/research-centre/news-centre/article/?id=19779996&type=bsm

Not so much 'just announced'! The news was released 7 May 2025 yet it is not mentioned on research web sites I checked. Is the acquisition of Torotel at last bearing fruit? And are they hiding their fruit under a bushel?!

Generally, I can see that my shares with direct US exposure seem tainted with pessimism. I'd like to see it as a buying opportunity but I have no clue as to what might happen next over the pond. The rule of law is excessively weakened with no sign of improvement.

Because my point was that the current government should keep their hands off private pension funds.

Starmer is primus inter pares in the current cabinet. Farage and Johnson have already shown that they are [editor: description removed to avoid legal repercussions].

ps It was Robert Maxwell who went overboard. Literally as well as figuratively.

Imagine the scams that could be dreamed up when certain politicians (did I mention Boris Johnson? Nigel Farage?) get their hands on private money invested for pensions. I can remember when the ring fence was removed from company schemes to allow them to dip into the pension schemes of their employees 'for emergencies'. There were a lot of emergencies ISTR. A colleague lost the lot. Need money for a massive prestige infrastructure project? Oh we'll use the pension funds.

"Despite being hit by the fallout from Trump's tariffs, Polar Capital Global Financials' managers believe the sector is poised for further growth."

https://citywire.com/investment-trust-insider/news/polar-capital-global-financials-takes-tariff-hit-ahead-of-tender-offer/a2465750

54% of their exposure is within the USA.

Got more just now but seems to be upward pressure at the time. My trade will not be visible from space.

it's friendship, *****, but not as we know it. klingons, every one.

Trump and his friends are well placed to crush investors who second-guess a rigged market.

They have power and much more money than I do!

"The Board is mindful of the increased market uncertainty arising from the recently announced trade tariffs and the potential impact on demand patterns. Given the current macro backdrop the Board sees a wider range of potential outcomes for 2025. We remain resolutely focused on our operational improvement plan, Project Dynamo"

Project Dynamo??!

Is this telling us something?

"Operation Dynamo, also known as the Dunkirk Evacuation, was a military operation during World War II where approximately 338,000 Allied troops were rescued from the beaches and harbor of Dunkirk, France"