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Fleccy,
I was making a different point. I can not remember the market being as volatile as it currently is. Today the market had been sharply only to fall a few hours later. I totally agree that if the general market has now reached its bottom then it is unlikely that BT will fall further. But what if the general market carries on to fall I would then expect for BT to fall as well.
All I am saying is that I am not convinced that the market has stopped falling.
Faultsman,
"There are some remarkably uncouth and self serving people on this forum, people are suffering and dying as you type out your hatred for BT and laugh at the failure of the market."
That is a very unkind comment to make. Where is your evidence?
These are very worrying times and the market is understandably being nervous.
Longtimeinvestor,
Good luck and hopefully this time you are proven right.
Velo,
Although I may not always agree with your conclusions. I have always found your contributions to be well thought out very helpful and informative. Please keep posting and do not take any notice of the "little englander". I am willing to bet that Toff once had a job in the city and was unceremoniously booted out. That is why he has this crazy obsession with Market Makers.
Faultsman,
"There are some remarkably uncouth and self serving people on this forum, people are suffering and dying as you type out your hatred for BT and laugh at the failure of the market."
That is a very unkind comment to make. Where is your evidence?
These are very worrying times and the market is understandably being nervous.
Longtimeinvestor,
Good luck and hopefully this time you are proven right.
I hate it when my predictions come true. It now only seems a question of time before the WHO declare Corona-virus pandemic.
If that happens there will be complete chaos. Countries closing borders. Airlines stopping flying. Social life seriously curtailed.
I am not buying anything at this moment. I am holding on to my cash and I wil only l start to buy once the market settles. Whenever I have tried try to buy at the bottom it has always gone lower. Just last week you bought at 148 which at the time seemed a huge bargain. Its never good to buy when the market is still falling.
Fleccy,
I did give you my reasons but you disagree with them which you are entitled to. IMHO the main reason is its high level of debt. The problem is the lower the share price the harder it will be to increase borrowings for fftp and 5g. Lets hope that the government will do something to help in the budget.
In regards to the cutting of the dividend I now think that they will cut the dividend more then the expected 25 -30%. With the share price at its current lever cutting the dividend in half will still yield over 5%. I will admit that at the present time BT seems a real bargain. The problem is that there are now loads of other shares which are more and bigger bargains shares like Lloyds or RIO for example.
TLWilliams,
The latest falls in the markets has given rise to loads of buying opportunities. Lets be honest if someone was going to give you £200000 today to invest anywhere in the world. How much of it would you invest in BT? With BT's past performance over the last 5 years I know exactly how much I would!!!
Fleccy,
"i'm hoping the price drops even further from here" are you for real????. When I have correctly predicted in the past that BT's share price was going to fall. Most of the gamblers on here just because I was proven to be right. I was accused me of all sorts of conspiracies. I don't think I have ever said that "i'm hoping the price drops even further from here" That is such a cruel statement to make. Just for the record I feel it was justified for BT to fall but I still hope that it wont fall further. The reason why BT is falling now, Because of the massive falls everywhere investors are seeing much better opportunities elsewhere.
Velo,
Toff is right!!!. You tend to talk a lot about financial fundamentals and lots of boring stuff. Please stop trying to mislead us about the real reason behind the fall of BT and for that matter the spread of Coronavirus and all the other ills of society. ITS ALL DOWN TO THE MARKETMAKERS!!!! It has nothing too do with debt, aggressive competition, bad management, weak workforce, low employee moral. Quarantine all MM's for 5 years and BT will shoot up!!!
Fleccy,
If you will check. That was not my comment is was a comment that I cut and pasted from the Telegraph site.
Why don't you stop shooting the messenger and just look at the facts. BT has been one of the worst FTSE performers and consistently gone down over the last 5 years. All I have done was point it out. Why does that make me a BT hater? It is even worse then Royal Mail and Centrica and that is saying something.
BoBetts
BT's credit rating is not fine!!! Lets take it from the horses mouth
This is from BT's own website https://www.btplc.com/Sharesandperformance/Financialreportingandnews/Debtinvestors/index.htm
Term Moody's Standard & Poor's Fitch
Long Term Baa2 BBB BBB
This is from wikepedia.
Bonds with a rating of BBB- (on the Standard & Poor's and Fitch scale) or Baa3 (on Moody's) or better are considered "investment-grade." Bonds with lower ratings are considered "speculative" and often referred to as "high-yield" or "junk" bonds.
Fleccy,
The reason I mentioned equity was just responding to Cpt Hornblower's point that (Return on Equity) ROE was 20%.
In regards to your point "The debt market will lend BT money" I believe that is debatable. You are aware that BT's debt rating is BBB. Check out the definition of junk bonds . You will see that BT credit rating is just one notch above junk as any rating below BBB is considered a junk bond.