Member Info for BlahBlahDoh

Customers, and the judge, are not arguing about changes in risk, but about choice. As the lady said - why should the companies paternalistically decide what is best for them, without even consulting them, when it is they, the customer who paid for the whole thing, and who have to live with it for the rest of their lives.

Pru's costs are irrelevant. Your second point turns the case on it's head by implying it is the customer who wants to transfer, and Pru are somehow doing them a favour by bearing all the costs. Customers have already paid for their annuities, have not chosen to transfer, and also probably paid a lifetime of charges and fees on the funds which were used to purchase the annuities.

Pru have also just been caught out harming pensioners interests by mis-selling annuities, so I don't think anyone is going to feel any sympathy over costs resulting from Pru's executive decisions, which the customer has absolutely no influence over or responsibility for.

Interesting views on the disputed Rothesay transfer: “The annuity providers have all the freedom to switch and we have none,” she said. “It is an asymmetry of power between provider and customer.”

https://www.standard.co.uk/business/business-focus-prudential-court-ruling-prompts-questions-for-burgeoning-sector-a4257666.html

Last three months - orders up 4%, revenue down 1% (compared to last year, ending Sept 30th, on a constant currency basis)
Q3 dividend 20p, payable 13 Jan
Debt down slightly from £50.4m > £50m
Next update 13 January.

Peel Hunt raised their target price from 2650 to 2850

Future dividends are NOT as bad as I feared, in fact the dividend rebasing is perfectly reasonable.
I asked you all to "correct me if I'm wrong", but nobody did. Therefore, it is entirely YOUR fault that there were mistakes in my calculations. This is what YOU got wrong:
1. The 2020 rebasing figure I used for M&G was derived from the announced final dividend (for May 2020). Nothing was included for the interim dividend.
2. The 2019 base dividend total of £1345m included £100m for the special dividend due in May 2020. Stictly speaking, that is not part of the "base" dividend, and should not have been included for comparison.

Correcting these errors gives a 2019-20 total of £1245m, and a rebased 2020-2021 figure of £1215m.
Profound apologies to Pru's chief financial officer Mark FitzPatrick, who must have been hurt and emotional after YOUR wrongheaded assertions. It's not you Mark, it's them.

We also tried to derive initial prices for Pru and M&G based on the dividend split. The new dividend rebasing figures work out at £750m for Pru and £465m M&G. At the current price of £14.36 that gives proportional split prices of £8.86 and £5.50 respectively.

Not seen any forecasts, probably because It is impossible to read, so many fast moving factors, but that big vote of confidence by a RISK manager seems to have doused fears somewhat, and maybe induced some FOMO!

Looks like a substantial purchase today by James Turner (GROUP CHIEF RISK OFFICER AND COMPLIANCE OFFICER)?

Something being well known, doesn't mean it should be excluded from a summary, quite the opposite. Not "living under a rock" - as I've already pointed out, people have posted comments on here which were apparently incorrect. If the article had left out facts assuming new investors already knew them, then THAT would be lazy journalism. Those calling the journalist "lazy" don't seem able to come up with anything he has missed out, which seems rather like lazy commenting?

So Edelman's sale was to pay off a personal loan - not given to charity, as someone posting on here claimed, repeatedly. Seems like not all of it was actually needed for the loan either, as he somehow had spare cash to get back in at much cheaper prices, just a month later? Don't understand what people mean by "lazy journalism", seems like he has done his homework, knows his subject, and has summed things up pretty well. What did he miss out? As for "old news" - well that's because nothing much has happened, isn't it? Griffiths taking a bigger stake is a very minor incident in the scheme of things.

The markets are probably peering myopically ahead about 18-24 months, as usual. They bounced as fear over the terrible US factory news earlier in the week started to fade, pending further economic data. All the major issues affecting Pru and M&G currently look like they extend well beyond Christmas, but it's difficult to list political events beyond then as we live in such uncertain times. We can definitely expect an impeachment trial early next year now though, because Mitch McConnell has, somewhat surprisingly, pre-emptively agreed to it, and the success of an impeachment vote, which is a necessary precursor to it, seems more likely every day.

One other thing we might anticipate is the possibility of US verbal intervention in the HK issue - at least one American commentator has suggested that Trump may attempt to use it as a threat to induce Chinese co-operation in his current minor local difficulties. Could be nothing, or a major escalation in tension.

Aren't Google also very active in the AR/VR space? Imagine competition between those two for Nano's materials and/or equity!
In your dreams, nanogirl.

I agree, there is probably a buyer for some, or all, of the Capital shares, or the price would surely have dropped more?

Those "Holdings in company" RNS forms could surely be designed and laid out better. Considering the small amount of information they convey, it's quite an achievement to make it unclear/confusing. Just six pieces of data, I think:
Company buying/selling, company being bought/sold, holding before and after, voting rights before and after .
Pay a talented design student a hundred quid for a couple of hours work, why dontcha!

I assume Andy means this one: https://www.bloomberg.com/news/articles/2019-10-02/kyle-bass-says-he-foresees-severe-hong-kong-economic-decline-k19cc9nz

Kyle Bass is a hedge fund manager from Dallas, who's betting that the unrest will cause a break in the currency peg (to the US dollar) and capital flight over the next 12-18 months. Interesting times.

Capital Group, an American finance company, seem to have halved their holding from just under 10% to just under 5%.
Based on market cap, that's roughly a £1.8 billion reduction!

Capital are an interesting group - they managed to avoid both the wall street crash in 1929, and the tech bubble in the late '90s. Perhaps we should pay attention!

I've already provided two links proving that it is an official Labour pledge, are you suggesting Bloomberg and the FT are engaged in "fantasy" reporting? If so, include the whole media, that was just two examples.

You may not like it, but denying it's reality seems pointless

Congratulations AllAtSea. Glad to hear you made a profit, hope you can maintain your good form on those tricky investment decisions! See you around, good luck.

Surely It's perfectly appropriate to raise ANY issues which are relevant to the share, on a discussion board created to discuss that share, it's literally what the board is for. If you don't want to read them, you don't have to. I don't disagree with Andy's general points though, and his last one has more or less been my "strategy". In the long term there are good reasons to think Pru will rise well above the current price, although that might mean sitting out a recession first!

Nevertheless, it's interesting discussing the daily points: lots of developments at the Pru, exciting times ahead, and the political frameworks they have to negotiate are fascinating. Discussion helps to get a feel for the pros and cons, understand the company's position better, and avoid making uninformed decisions. It's OK to ponder reasons for share price movement without characterising that as fretting. I'd suggest that you are unlikely to hit or improvise a target buy price, like Andy has, without following the share price quite closely. Although he probably can't see this (?), good luck to Andy with his top up.

Not sure JJ: the index of US factory activity hit it's lowest point in over a DECADE last month, i.e. since April 2009. That is not a good sign for the whole world economy. Let's hope the reaction is overdone, because one month alone doesn't make a recession, but Andy was right that bull markets have to end some time.

"get a grip"? "fantasy"? This is widely reported fact:
https://www.bloomberg.com/news/articles/2018-09-23/labour-would-force-u-k-companies-to-hand-10-of-equity-to-staff
https://www.ft.com/content/4cad1c50-bf59-11e8-8d55-54197280d3f7

Seems like it's a very real thing which could have an effect on the share price, even if it never gets implemented.
Not sure what your objection is RR, can you please clarify?

My good friend Andy seems to think now is a good time to buy, despite his continual warnings about the 10 year bull market. Another drop today, and a surprisingly large one. Is this a good buying opportunity, or are the bad US industrial numbers an early indicator that a worldwide downturn is kicking in?

What frustrations? You made a mistake, I pointed it out, that's all. Hardly an excuse for rudeness and personal insults.