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Boysaka, your calculation ignores fresh issuance. If the company buys back 2 shares but reissues 2 shares which are then given to employees FOC, the value has effectively been extracted by the employees to the detriment of the shareholders. In this scenario the interests of 'shareholders' are diametrically opposed since the genuine owners have their holding diluted constantly by self-interested actors, rather like a bar tender getting drunk at work without paying for the booze he consumes.
Jakers, that was precisely the conclusion of Major General Smedley Butler, the most decorated soldier in US history. He wrote a wonderful paper about war being a racket. Check it out if you get the chance.
Interest can certainly be used to control inflation. In the 1980s Tall Paul Volker used punishingly high rates to bring rampant inflation down in approx 1year. It was a bitter pill though and many borrowers went to the wall in the US.
Why not go back over the last 15 years and track the decline of Deutsche and its share consolidation. The institution is regularly identified as one of the SIFIs that could cause the next financial crash by bankruptcy. The derivatives position is allegedly incredibly risky. Lloyds is a high-street bank involved in mortgage lending within the UK, it has a very strong cash position. Deutsche is an international merchant bank, market maker and prop trader (at least it was previously leading to its precarious derivatives) with enormous debts. The two entities are not strictly comparable and a 6 month time reference is inadequate.
Not if the market sentiment is to be trusted. Blo*dy thing went into reverse after signs of promise.
Has anyone received their dividend yet? According to HL the payment day is today yet I have nothing credited on my II account for either of my holdings.
Plato, I agree.
I hate to get involved in spats on a LLoyds forum, however I get irritated when posters assume the existence of certainty and pontificate with great authority misusing the word 'reason'. I advocate tolerance and open mindedness yet am accused of being a small minded zealot. Heaven preserve us from those who lack the wit to question their own beliefs.
Re Lloyds; the share price seems to be range bound between 50-55p recently. I am frustrated because my average on one account is just above 53p so I am in and out of the red constantly. Luckily there is a decent profit on another tranche which I largely ignore. I feel that the share price will breach 60p once interest rate rises are announced but acknowledge real pressure suppressing rises at present. At this price a decent dividend or a special would surely encourage IIs back to the party.
That is a problem of the system not my philosophy. Your approach is simply to outlaw articulation of ideas you disagree with. BTW been to court on many occasions, twice small claims, numerous times to dispute parking and speeding tickets. If the system is wrong it should be changed. Your position mirrors that of Erdogan. Who decides? You I guess or people who agree with you. Is that not what happened in Germany in the 1930s?
I used the law to refute your claims and seek damages.
Gazz, That it entirely my point. There should be red lines applied to actions rather than thoughts. Otherwise you advocate the thought police. Who among us has not had dark dreams or nightmares? Reason enables to moderate out actions so that we are not controlled simply by base desires or our id.
WW, It all depends how you define a lie. Is truth absolute? In reality there are alternative truths and part-truths. Very little is black and white. We mistake our own convictions for the truth. Virtually everything is grey; our opinions are shaped by personal experiences, culture and education. Take for instance Brexit or Ukraine. The argument is completely polarised whereas there is merit on both sides of the debate.
According to John Stuart Mill liberalism required the ability to tolerate and even defend opinions you considered to be vile. Any expression, excepting physical force, had to be allowed and considered to avoid the tyranny of the majority.
I believe that those who associate themselves with either side of the left-right continuum have a great deal in common, and that neither is a true champion of liberalism. If you deny people the right to express their opinions eventually you conclude that they should not exist.
Lucky I rather think that any saving has been more than wiped out by the inquiry. Those civil servants don't come cheap!
Interest rates measure risk. They reward those willing to forego expenditure and levy a fee from others for the use of money that is not their own. In an efficient economy, interest rates mediate between savers and borrowers to avoid excessive debt and discourage self-defeating thrift thereby mitigating the boom-bust sequence associated with the business cycle. The system is wonderfully described by Bagehot in Lombard Street. What we have today is a gross perversion of the system where risk has been fundamentally understated for 20 years courtesy of Mr Greenspan. The result is asset bubbles, misallocations, unacceptable risk and the prospect of wholescale international governmental bankruptcy. The GFC in 2007-8 was followed by a policy response that saw enormous private debt transferred to the public ledger. Covid has e
amplified the problem.
Some day soon there will be a reckoning; unpayable debts tend to go unpaid. When the system starts to unwind the change will be explosive and irreversible.
SS, Nouriel Roubini and Michael Hudson also. We can't simply dismiss opinions we don't like as cranks. Granted Schiff does sound like a broken record but 12 years into an expansion due to a debt pile the like of which has never been amassed previously except during war, with Central Banks around the globe anchored to miniscule interest rates and money printing, supply chains devastated, inflation taking hold, commodity prices reaching nosebleed highs, populations addicted to government subsidy, Super Powers readying for conflict, can you honestly say the future looks Rosy?
Squad, I bought some shares today because I like PMs and thought I'd punt but your comments re dividends confused me. According to HL the yield is only 2.6 at the reduced share price and last years main payment was exceptionally high. Is this what you about collecting dividends? Other stock I hold generate 6-9%. Surely at 2.6 with inflation running at <5 that does not give you cause to relax unless the alternative is money in the bank.
Minehead agree entirely. Other guy talking total rot. NATO expansion post agreement with Gorbachev was a breach of trust. The Us exploitation of Russia and the east during the 1990s in the name of Neoliberal market reforms was daylight robbery. Trump demonstrated that NATO is simply America's fig leaf. Putin is a thug but no worse than the shower of grifters and war mongers the west has to offer. Has Gavster forgotten the Victoria Nuland incident or McCain encouraging violence at Maidan? Is he unaware of Biden's own dubious associations via his son and Burisma? To characterise the US/ wester alliance as some species of white knight is preposterous. Politics is far more complex and nuanced that Gavster's rudimentary pantomime villain analysis admits.
Suf, "Prospective inflation at 5.5%."
Cookoo, Great minds think alike....Your use of the term 'old gits' is spot on. I am allergic to momentum stocks because I think there is absolutely no point investing in imaginary unicorns on the basis that some day we shall all be able to teleport ourselves to Mars and live for ever while driving electric space ships. Hence my Fags, Oil, Mining and Insurance stocks which paid out even though the prices were in reverse. I am utterly baffled by the amounts being staked on Crypto and NFTs. I realise the limitations of fiat and understand the enormous benefits of blockchain but limits must be observed. A cretin in New York recording his own flatulence to sell as NFTs at $100 a pop is ridiculous and probably apocryphal. Saints preserve us. The Emperor is completely naked. At some point we shall appreciate real things with corporeal form that generate that quaint historical metric profit.
This article mentions the 5% plus dividend. I bought this share immediately before the Covid Crash and have not seen any dividends, much to my irritation. I also bought BT and Lloyds and saw their dividends and share prices disappear. I can't find any announcements about the dividend other than the intention to reinstate the last 2021 payment. What is the current situation vis-à-vis divs? Apologies if this subject has been hashed out ad nauseam already. GLA.