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I am so pleased I used my own judgment about bought IAG today, rather than come here first and see Oil rubbishing it in every post.
I finished up. I don't mind I wasn't as up as, say, Oil, but compared to where I was this morning, I am happy. It's not a competition.
I thought I would pop in here - I am a shareholder- to pick up some intelligent prose from those who understand banking P+L on the impact of inflation, interest rates,and govt policies on the numbers Lloyds might throw at us in Feb. How wrong I was.
I think we will do OK on the basis that the increased interest margin will more than offset the defaults from the economic downturn and am optimistic the div will be pushed up. But that's a guess, like everyone elses, but in my case not based on any nous about how the numbers are added up. Any insights welcome. Hope it's ok to interrupt.
Paying for overvalued assets is a clever ruse to raise NAV on which your management fees are based. Then finding the charities providing rent are financially weak, and your tenant group is the least likely to pay any rent ( often as they are on state benefits which some people think are generous but aren't) and you have a recipe for failure. It sounds a great social idea to house the homeless etc and I understand why the company exists but it needs empathetic and intensive management and skillsets. I don't feel private enterprise is compatible with the client group. The issues raised by Viceroy ring true.
Watkin Jones yesterday (Thursday) received planning approval on appeal to a mixed use development including 366 residential units, commercial and community uses. It’s a big deal and I’m surprised it’s not been the subject of an RNS.
Not sure he will be able to get the country back on track given the systemic problems but I’m encouraged that he can add up, unlike the last two incumbents of the top job. A period of stability is what’s needed.
Paul
I hold for dividend which is automatically reinvested but won’t be adding otherwise. For me this is a core holding but expect it will track the market down. The saving grace is the quality of the management.
Gate
Throwing cash at an already inflationary economy can only lead to more inflation. And a rise in interest rates which will choke investment. Add the energy hikes and all this can only
lead to recession and a lot of pain for ordinary people, The markets clearly feel it’s too much and are acting accordingly. I’m not a Tory but if I had had the choice I would have voted Sunak as he can add up. All the Tories I know did- and I know a lot. Truss has gone for her own brand of economic management presumably with the ear of the BOE not pushing on by 0.75% like the USA. She’s wrong. Madhouse economics and while you are right about ‘time will tell’ the issue for me is that we don’t have time. Stability and confidence in our finances matters and even the IMF have expressed concerns.
Gate
Looking at the performance of this shambles of a government I find it hard to argue that they deserve to remain in office. I fear the worst for all of us from Truss and her crew continuing to ignore economic common sense, rather than from Starmer. With Corbyn et al sidelined there’s a fighting chance of a sensible Labour govt than the socialism many of us fear. Tax and spend? Ask Kwarteng.
Organic growth rather than acquisitions is the right path just now. After the breakneck speed to date it's right to consolidate the business, get the organisation in shape and manage costs. It feels Sorrell has learned the lessons.
Nige
You said the most important point ' I would say if you have trust in the current management'. In light of the mess over governance I would like to see evidence of improvement there as much as in underlying performance. So while I have shares here the jury is out on trust in the current management. Let's see what the accounts look like.
Ninetails
Very impressive that your wife is a trained crisis counsellor (not councillor btw- they are elected). Given the state of the country we might need more of her services shortly.