Member Info for CHEQUEMATE

Hi W.

Not much up on SUK2 so far, around 6-7% when costs are taken into account. I only have £1000 in here, which to many is of course absolute peanuts. However, I'd rather gain a little than risk losing a lot and I am always of the opinion that it is better to hold back initially to judge which way the wind is blowing and then average UP, not down. I may increase what I have in here depending on the circumstances and as you say the market is likely to bounce should there be any good news coming out of Ukraine, although that may be short term.

I mentioned in a previous post about the prospect of a recession and I stick to that; I fear it is only a matter of time. I don't think a lot has been made of it thus far. Technically of course a recession is defined as a period of two consecutive quarters of negative growth. How deep any recession will be is open to debate and how long it will last. Is the market in a better position now than in the last recession?, hmm, I fear not.. Compared to the 2008-2009 financial crash when the FTSE fell from around 6700 to well below 4000 (from what I can remember)?, difficult to say. What news is there to hold the FTSE up?, will any rise just be a blip or will it be more sustained?. I just can't see it, much that I would like to say different.

I am partly using SUK2 as a hedge for my holding in IGG which is/may be getting hit unfairly, but is getting hit all the same, but may recover, at least to some degree. Hopefully there will be some balance as there has been over the last week, gains/losses being countered.

How far is the FTSE likely to fall?. It is close to falling 10% of late, approaching correction territory. Another 10%, down to around the 6100 mark will take it into a bear market. Will that happen?, it seems a long way to fall from where it is now, well, who knows?. I can see no reason whatsoever why the FTSE will regain much ground. However, I have to be ready to bail out of SUK2 if necessary.

Re BOO. Well, I was invested some years ago and made a reasonable profit over the time. I think I sold out at around the 170p or so mark, having seen it above 200p, saw it drop to 130p then over time rise to the highs. One may think that because it has fallen so very far that that must be around the bottom now, but the market doesn't work like that. Any hint of bad news come the update this coming week and it will be given a kicking again. Sometimes companies get hit unfairly, but as I have said before the market can stay irrational for longer than we can stay solvent. My personal thoughts are that we need to move away from fast fashion where things are bought, worn once then dumped. It is largely led by vanity and isn't environmentally friendly. Disposable income is going to be far, far less.

Interesting comments of yours re. oil. I am watching futures on oil, FTSE and DOW.

Need to go.

Good luck, stay safe, stay well

CM

Good evening W.
No need to apologise for not replying. Hope all has gone well with the job.

Today has seen further falls in the general market. Some smaller shares have fallen considerably. And there will be more to come.

My holding in IGG has hit a years' low today, it has been showing weakness for a little while. I bought in at just under 800p, so down around 9-10%, less than that if dividends are added in. Theoretically it should do well when there is uncertainty in the market which is why I continue to hold, for the time being at any rate. Todays fall in IGG has just about been negated by the rise in SUK2, so a bit of a balancing act. Probably a good result as things stand.

I see oil prices are well over $100 a barrel, having fallen a little from near $120 earlier. Gas prices well up from a week or so ago. Are you still thinking of a short on oil?.

Something which hasn't gained much attention...........yet......is the probability of a recession on the way, very shortly. I think the World, understandably has got caught up in (if that is the right expression) of what is happening in Ukraine. However, with inflation as it is and likely to rise, domestic fuel prices set to soar come next month (mine are rising between 40 and over 50%), interest rates set to rise (probably not as far or as fast as some are predicting because the economy is going to slow outside of rising interest rates), and soaring fuel prices at the pump folk are going to have a LOT LESS disposable income. Many, a vast majority have never experienced what is likely to come about and will be hit hard. It will be a time of tightening ones' belt, cutting back (a new experience to many, will they know how to, or be prepared to?). Thankfully I am no longer having to pay a mortgage and I have a very small private pension coming in rather than having to pay out, but I dread to think how some are going to manage. Some will have to sell out of their holdings in company shares, despite what they say (holding to the end, averaging down). One clown on one board said they would rather see their shares go to nothing than accept a pittance!. That has to be one of the most stupid posts I have ever seen and believe me, oh, I don't need you to - you know as well as I do, I have seen many over the years, beggars belief!. The market can stay irrational for longer than we remain solvent, if it is irrational right now of course.

As things are, I can relax to a degree and enjoy watching my 2 cats wrestle with each other and cause general mayhem around the house, including hiding behind and attacking the curtains, exactly why I spent £100 on the curtains a couple of months ago.....or not!. At least they brighten my day up if little else does.

Stay safe, well and in good spirits.

GLA

CM

Expect 3rd quarter results sometime 2nd or 3rd week of this month. Just maybe that will give the share price a boost; if only temporarily as things are at present.

General market is pretty dire right now regardless. I hope others investments are holding up. There is likely to be more downside in the near term, a time not to be over exposed anywhere.

Good luck all. Don't go chasing rainbows, there is unlikely to be a pot of gold at the end.

CM

Blimey Windows, err, good luck with that one. I understand what you are saying and where you are coming from; rather you than me. You have raised some very interesting points and suggestions. I have got more from your posts over the last week than looking at (only) at the posts on the BOO board. Well, lets face it, that wouldn't be difficult. Blind led by the blind on that one, not that I am a genius by any means. I would rather keep my mouth shut and let folk THINK I am a fool than open my mouth and have it confirmed!. Many don't have such inhibitions. I have previously invested in BOO and made a profit and had considered re-entering, but no longer. Don't know why I keep wasting my time looking in there, perhaps I am a fool WITHOUT opening my mouth, hmm.

Rigged game?........err.....yes, probably agree with you on that one overall. How to read the market, micro and macro is important. We are usually behind the game though. What we know you can bet the market knew already and all we can do is play catch up or make an educated guess as to what is likely to happen. Market makers know how to play the private investor and see many of them coming. They are there to make money not to make friends. When the market goes up we never say thank you Mr. Market Maker, but if it goes down we shout and scream. Well, that and suggesting those who are on the boards with a bearish outlook are "paid derampers"!, paid by who for heavens sake?. I don't know if I should laugh or cry at times.

I would be interested to know the findings and research you have done about how the market works. Personally, I have done a lot of reading over the years including the Robbie Burns, Naked Trader books which I found very informative and easy reading. He makes so much sense, which I can understand, not blinding folk with science. As much as anything he would re-iterate what I said about NOT losing money, or at least cutting losses whilst they are small. He mentions numerous cases of where he has made mistakes as well as the common mistakes investors (gamblers?) are making.

Personally, I may re-visit my stop loss before setting off for work tomorrow morning. I may lower it by a tad depending on what the FTSE future may suggest early on. Any guess as to what may happen tomorrow beyond the market will open and the market will close?. May very largely depend on any news out over night. No idea myself.

Regards

CM

Chickening out?, well, better that way - you lose nothing.

Only 2 rules to investing:

1. Don't lose money.
2. Don't forget Rule 1.

If we are going to lose money, then make the losses small before they become big. Which is why I have a stop loss here at 400p. I will not average down. Additionally I am not in a position to follow prices throughout the day. It's not ideal but I have a job to do which pays for my living.

There are so many other shares, or funds I can invest in and neither I/you/we should get blinkered here or anywhere else which so many do as you well know. The world "revolves" around a particular share I think for some , folk would rather divorce their partner than divorce the company they have invested in. In fact, I wonder how many bad investments have led to divorces. "Sorry dear, we can't afford the new kitchen/holiday abroad/send the kids to university.". "What?!, why is that!?". "Err...well.....yes....I was going to tell you....err....". Many a true word is spoken in jest.

So today there has been a good rally. Hmm. FTSE up, DOW up, oil prices down. Yo!. So all is fine in the world after all. Ukraine, Ukraine?, nah, all over done, no need to worry after all. Phew. Must be all in our minds. Or.......is it?. Don't think so. Personally I only see this as a relief rally before things turn South again, but I accept I may be wrong. I have seen this all before, not regarding war, but due to other reasons over the years, banking crisis, Brexit, Covid, etc. This is no different and may be worse. It is early days in the war between Russia and Ukraine and it may escalate. It isn't going to be over early surely, well, not unless Russia overwhelms Ukraine and the Ukrainians sue for peace. Whether or not my stop loss is hit before things change again remains to be seen, it may well do. I take that chance. I can always buy back in again at a lower level if I feel so inclined.

You obviously use charting as a tool in your armoury. And why not, if it works for you, good luck. I did look at charting some years ago and there is certainly a place for it for sure. To be honest, I am not sure I can be too bothered to put the time into charting that it needs, it isn't being lazy, I just don't want to spend the time. But, I listen to what others say and give it fair due. Chartists from my experience tend to have a more balanced view of things, as long as they don't entirely rely on it. And of course, they come in for some stick from the bulls if they dare to suggest the price has further to fall!.

Hope you have had a decent day. So glad we live where we do; lets face it, it is largely only by chance.......and good luck. We too could in another life be born/live where there is far more to worry about. Makes me wonder just how much trivia we get worked up about.

Good luck

CM

Thanks W. Will do.

Tomorrow may be interesting with the DOW showing gains come day end after a bad start. Can't help but think it is likely to be another hiccup, market trying to grab at straws. Not even a relief rally surely. Folk will surely say, "be greedy when others are fearful.......". Hmm, whatever folks, whatever. Truly wish it could be all so very different.

I have been investing for many more years than I care to admit, in good and bad times. It can be like blowing into a balloon which has a slow puncture at such times as this.

CM

Incidentally, I am sure you have noticed that the busiest boards are usually the crapiest or worst performing shares.

Well, I didn't expect to have anyone to correspond with on this board; it's been so quiet for so long and for a long time it was off my radar but due to current affairs it came back on it.

I have looked at 3ULS and LQQS but no further than checking on their price and chart. Hmm. Interesting but possibly, no, probably too risky for the likes of me. I would rather sit on the side lines and miss some opportunities but lose nothing than jump in. Thank you for raising them though. I think SUK2 is enough for me.

No, this isn't an investment, I would agree. Is it a gamble?, well, yes I guess it is to a degree. Definitely one for a stop loss and maybe one to have a rising stop loss.

Windows, respectively, I have taken a look at your posting history, out of interest to see where you have or may have holdings. I see you have taken abuse on some boards it seems from stating your opinion. Abuse is nearly always aimed at those who do not share a bullish view on a company and dare to suggest an alternative view. It usually comes from those who have their heads buried in the sand and refuse to believe and admit they have made a mistake and are never prepared to cut their losses. Rather than take a small loss and have some funds to re-invest even if it is at a slightly higher price should the market change sentiment they would rather "stay long and strong" (yeah, right!) and even average down. They suffer from confirmation bias. Some of them, if they are to be believed, have tens of thousands of pounds invested which makes me wonder just how they have so much funds available unless they have bought on margin, CFDs or whatever; scarey!. Their lives seem to revolve around their so called investments. What I have learnt over recent years is that life is so much more important than that, especially right now. Life can change so very quickly, Covid, war, family illness generally ie dementia to a much loved one (I know from experience), and those days can never be relived. I read some boards even though I am not invested there, but no way will I post because it just opens oneself up to abuse and it just isn't worth it. Let the inmates take over the asylum. It's a great shame that innocent investors are taken in by the nonsense.

It wasn't my intention to have a rant, lol. But I guess sometimes it is good to get it out. Perhaps you think I should be in the asylum.

Anyway, good luck and thanks for the post.

Regards

CM

In normal times, whatever that may be or was, volatility would be good for IGG, but these are far from normal times. Many folk will be looking to sell out of anything and everything including IGG by the looks of the trade sells and buys today.
With a holding of only 200 shares I am not heavily invested here or anywhere else. Only invest what we are prepared to lose it is said, and there are going to be plenty of loses in the short term. It is helpful to have a dividend. I think short term pretty much everything is going to get hit before the market in certain companies settles down to any degree.

Where is the bottom for this share?, well, in reality it could be 0p, nothing as for any share; not that for one moment am I suggesting that of course. I certainly won't be doing anything more than holding for the time being.

Regards, stay safe and well

CM

Thanks for the post Windows.
I bought in yesterday morning early before having to drive South, so was limited to time. Naturally the price then fell back and may do further, although any relief in the general market I only see short term, and as I have posted before is largely held up by the oil companies within the ftse100. I only bought £1000 and have a stop loss set, so I shouldn't lose too much.

I have traded here before but appreciate your words of caution. Are you invested here?.

Regards

CM

According to LSE Week Ahead - PLUS are meant to be announcing final results for their year tomorrow. If so, then it will very likely have an effect on IGG, one way or another.

Glad to see this made somewhat of a recovery during the afternoon.

Difficult to keep ones head when the rest of the world seems to be about to lose theirs around us. Uncomfortable times

gla

CM

Hello Windows
Yes, very quiet board - usually a good sign. I am not "in here", at least, not just now. I have put it on my prime watchlist. I don't mind missing out on investing at or near any bottom, I'd rather do that than jump too soon only to find the only thing I have jumped into is a muddy puddle. The companies driving the FTSE100 most are as I may have said previously is oil and gas, banking. Those first two are rising, but I see banking has taken a hit today, I had been thinking of investing in Lloyds, but haven't.

The 2 rules to successful investing are:

rule 1 - don't lose money and
rule 2 - don't forget rule 1.

If I do invest, then it will be a very modest investment. Very small spread here.

We need to get a better idea of the longer term prospects of the FTSE100 and as you rightly say, maybe use this as short term and most certainly keep a close eye on things.

Good luck

CM

Hmmm, may be worth having this on the radar again. Been here before and got my timing wrong but there is very little if any good news around, less than for a long time and if the stuff hits the whirly thing then this may be reasonable. This is dependant on the FTSE100 falling which is made up of companies operating profits outside the UK economy, ie oil companies and they are on a high right now, negating those falling back. Some more detailed research needed.Is there a short on the FTSE250 I wonder?.GlaCM

Tend to agree Tom. Rather wishful thinking. It may reach £10 at some time, but I wouldn't like to give a time or date for it. I think the sector that IGG is in, may stand up better than other sectors with the present economic climate and what awaits in the near future. If the dividend is included then I am in a small profit overall. I only have the one investment and would rather sit on the side lines awaiting better times.

Many folk quote Warren Buffet and say be greedy when others are fearful and don't quote be fearful when others are greedy plus:

There are only 2 rules to investing:
Rule 1: Don't lose money
Rule 2: Don't forget Rule 1.

The market has very little to cheer about right now. In time that will change, but quite how long that will take is to be seen. The market can stay irrational far longer than we can stay solvent.

GLA

CM

The share price over time of IGG reminds me of the game snakes and ladders. Each time we get so far up the board we seem to land on a snakes head and back down we go. At one time it seemed to be when the share price was around or above £9, now it seems nearer to £8.50. I agree with the poster earlier who was just hanging on to get a little bit more out of the share to be caught out and see the share price fall back.

However, I really don't think there is too much to worry about. The market took kindly to yesterdays market update. Had there been a lot to worry about the share price wouldn't have risen as it did. It wouldn't have surprised me had the share price finished yesterday where it did today, because very often a share price will fall back on good reports. I more than half expected the share price to fall yesterday, so the fact it is back to nearer £8 is not such a great worry and those of us who have been invested here for even not such a long time have seen this sort of price movement on a number of occasions.

There has been mention of the premium not being increased. No, that's true. It has remained stable. Bear in mind though that the purchase of TT was made with a huge increase in the number of shares issued, which means now that what has been paid in dividends has increased greatly. The share price at the time of the purchase of TT was above £9 and was inevitably going to fall back upon the purchase of TT, otherwise the market cap of IGG would have been unreasonable and unsustainable. With a yield at whatever it is, 5%, that is at least something positive, and far better than many a share.

Market sentiment. IGG by its' nature will do better when the general market sentiment is not good; it is sector sentiment which in this case, imo, is what will drive the share price, one way or the other.

This is usually a very quiet board. I am amazed how busy it has become today, but understand why there has been more activity. However, can we not keep comment cordial and respectful to those who may have a difference of opinion?; it's not hard. Folk who point a finger at others and call them names generally don't realise that when we point a finger there are 3 pointing back at themselves and does nothing to raise the tone of their argument, only the contrary.

Each to their own as to what to do here, buy, hold or sell, each according to their circumstances. Good luck to one and all.

CM

Thanks Mezza for your post.

"Bad news is the best time to buy shares.". We have to be very careful with that one, with respect, although I understand thee sentiment. Many will quote Warren Buffet "be fearful when others are greedy and greedy when others are fearful". Not often quoted by Warren Buffet is:
"There are only 2 rules to investing:
Rule 1: Don't lose money.
Rule 2: Don't forget Rule 1".

If you are interested in some reading material, I can recommend books by Robbie Burns, the Naked Trader. He writes in a very easy to read and understandable way. He doesn't give tips for any shares but does outline what to look for in a share, both good and bad and ways to avoid common mistakes. If you Google The Naked Trader, you will find a link to his blog that he writes, about once a month - worth having a read and taking things from there.

None of us should be in a rush to invest. Money is hard earned and all too easy to give away. For me, I would rather wait for the market or any share to bottom out and then for there to be some recovery with a definite change in trend. It means I will miss investing at the bottom which can be anyones guess but is more likely to be successful.

Nothing wrong with being a small investor Mezza. These days I only have one investment and can say I am much more relaxed than when I held far more. My life isn't taken up so much with chasing rainbows and I have more time to enjoy what is far more important. I sometimes wonder if those who post so much so often have a life outside shares. There are more important things in life.

Good luck

CM

Good evening Mezza.
Why the share price drop?. Phew, where do we start?. Well, first of all I don't believe the share price fall is GBG specific, I believe it is much more down to the general market retrace and the fear that is around at present. Pretty much all shares are being hit, some more than others. Although I have not been invested in GBG for some time, I do keep an eye on it and have it on my watch list, to keep in touch with posters such as Doze and Big Tosh who have been invested here a long time and have seen GBG go through both good and bad times. Over that long period of time there have been a number of occasions when the share price has fallen back for no apparent reason, often after good results. Each and every occasion the share price has recovered, some times quicker than others.

GBG is in a sector of the market that shouldn't be hit by issues such as supply issues (much more related to retail), or shipping costs - they're not manufacturing anything, they are not selling anything tangible (hard goods).

Rising or the threat of rising interest rates?, well, yes to the degree that if interest rates rise then share prices tend to fall back, but we are talking about historically low interest rates and it isn't as though banks etc. are offering interest on savings to make a big difference.

Inflation? - should the BOE decide to raise interest rates to fend off inflation then I am not sure it will do anything but hinder the economy because the kind of inflation we are experiencing or about to experience is largely outside of what can be controlled by a rise in interest rates. It might lead to negative growth in the general economy which in itself may affect many companies. Companies may draw in their horns on spending and investment.

Conflict between Ukraine, Russia and the West. Nothing to do with GBG of course, but it is leading to a very tetchy market, there is a great deal of worry about. The World is on edge (sort of). We are hoping for an 11th hour resolvement of the issue. Should there be a resolvement then there will possibly be a positive reaction on the markets.

Rise in tax (NI). Should this effect GBG?, no, not directly. But then again this will affect all companies and individuals and this will likely affect any growth in the economy and therefore affect GBG indirectly.

Is GBG overvalued?. How do we judge what is over or undervalued. GBG has always had a high PE ratio (imo), but has always been able to live with that.

Are the markets over valued?. Well, quite possibly looking at Wall Street, not so sure over here. Are the markets looking to correct to some degree and is this not a good time to do it with all the worries?. I am just thinking out loud.

Each of us have their own circumstances and must do what is right for us, but I would caution against jumping into anything right now. What may seem a bargain may be a better bargain next week, or month.

This is a good board.

I think that the market that GBG is in, generally bodes well overall. It will take some time for the latest acquisition to bed in I think, maybe longer than others. The share price has adjusted to a large degree but there maybe some more downside which imo isn't a reflection on GBG but more to do with the general market. There is no sign of the so called Santa rally this year, or at least, not to date and time is running out. However a rally just down to it coming up to Christmas means little if anything.

It is difficult to know where any sustained recovery is going to come from and when. It looks quite likely that interest rates will be raised in the U.S shortly to try and curtail inflation being the highest since the 1980s; anyone remember those days apart from me, oh, and BT of course?. If that happens then it is likely to have an effect on the U.S market and therefore more than likely over here too, even if the likelihood of any interest rate rise here won't happen until February as has been aired. Then the nasty stuff might hit the whirly thing due to the repercussions. If that happens then folk may be looking to exit the share market although I don't think any rise in savings rates will make it so attractive to put their money in the bank.

Regarding stock markets; it is too easy to look at what is happening to the FTSE100 and the Dow Jones Index, rather than the broader FTSE250 or FTSE350 and the S and P 500 which gives a much better idea what is happening to the more relevant market for most investors. Many of the FTSE100 are made up of more internationally focused companies and the Dow Jones only represents 30 companies. But of course, what happens to the FTSE100 can help or hinder the other indices.

Any director purchases are good news in that it gives a degree of confidence from those who are at the coal face and in the know. And as far as I know, GBG are not being shorted.

Stay well, stay safe

regards

CM

Half year results due out next Tuesday, 30 November. Wonder how that will affect the share price?. Could go either way as experienced in the past. Infact, too often good results have led to a share price fall on the day, so I wouldn't be surprised if that happens again.

Doze, I don't think there will ever be regulation against what has just happened. I think share holders can vote for or against any management salary come the agm but what difference that makes to us lowly private investors against the large institutional investors I think is extremely limited bar register our objection.

The general market is not in a good place at present this side of the big pond at any rate and there may be more turbulence to come with the very real possibility of an interest rate rise to come all be it small (but not as a %). Also I don't believe Covid has finished with us yet and can see restrictions coming back if only the forced wearing of masks. My only holding at present in IGG, is suffering from drip, drip, drip like so many shares which is at least better than a full flood. I am happy enough sitting very largely on the side lines and have far more peace than when I was more heavily invested in the market.

This board continues to keep its' head and respect for others views without the playground antics common on many other boards - long may it last. I think it will unless it catches the eye of the masses by suddenly shooting up in unrealistic value. Once a board gets busy it is usually a good sign to think about abandoning ship.

BT - good to hear from you as usual. I trust things are well and you are not being kept too busy with jobs by Mrs BT!. Things here are okay, enjoying the freedom and peace an extra day off per week allows me and the fun of the company of my 4 legged friends.

Off South next week to see RR . She recognises my voice on the phone, but less likely to my face in person. Such is life. We really need to appreciate what is truly important in life whilst we can and waste less time physically and mentally on what isn't. Spent too much time in the past chasing financial rainbows, too often finding a pot of nothing at the end and losing sleep and sanity in getting there.

GLA

Regards

CM

I tend to agree Tom. I do wonder if better times are just ahead for IGG with the possibility of more market volatility ahead re Covid. Whereas I think another shut down is unlikely, unless things get quite a lot worse, I do see restrictions returning if only the wearing of masks again.

Much of the market is down again and there isn't anything that jumps out at me in particular to invest elsewhere. I only have a holding of 200 shares here, so any movement one way or the other is at £2 a penny. I am touching a loss now, but can live with it for the time being. It is frustrating to see a constant drip here, which I guess is better than a sudden flood.

Next trading update can be expected early mid December, about 2-3 weeks time. Hmm, that will be interesting and its' affect on the share price.

gla

regards

CM

I post very rarely these days but keep a keen eye on good old GBG. It remains on my foremost watchlist, although why I bother having the watchlists I do beats me these days since I make so few transactions. But, it's good to keep in with old friends and check how they are doing. Some of us go back, ooh.....how many years BT?, err......no, don't tell me, it will scare me.

I was given quite a shock first look at the share price this morning. I did a double take before checking out what was going on. My initial thought was there must have been a profit warning. I found it a little difficult to make head or tail of the RNS and felt that present investors were given short change. It wasn't as though any warning was given of it, even before yesterdays market close, so one couldn't sell out quickly, although any chance of that would have been picked up by the market makers I guess and they would have marked the price down. And I suppose on that basis it prevented the share price from falling further than what it opened at. But a kick in the pants nevertheless. Not good.

Will this acquisition work?, will it be for the good of GBG and their shareholders?. Don't know. However, the history bodes well. GBG has, for the years I have followed the company, been one of continued success and growth, organically and by acquisition. It's a massive acquisition though and of course there will be risks associated with it.

We have seen the share price fall back numerous times on the back of what on the face of it has been excellent results but the price has always recovered. Will it from here?. Well, probably, but back to near or over 900p...........well.........I think that will take longer since the new shares represent around 21% of the existing issued shares. With that in mind, doesn't that mean with todays' share price down at close of what?, 13%, that the market cap will be not far off the same as before the issue of the new shares once they are issued. The share price surely had to fall back because of all the new shares that will be issued and had it not then the market cap would suddenly have jumped by that 21% (please don't quote me on that as being 100% correct, it is getting late in the evening and my brain isn't as agile as it once was..I am of pre calculator days nevermind computers!!). That doesn't help those who had invested at higher prices and are not in a position to up their holdings, or want to. So, it can feel as Matthew C posted as though you have been shafted. Having said that, I would say it is far better than having had a profit warning because in all likely hood the share price would have fallen more and not recovered any and would be more likely to fall further. A kick in the pants, but I would remain overall cautiously optimistic.

As BT has posted, don' t do anything rash. GBG, is and has been an excellent company, and there are SO many poor ones out there.

GLA, stay well, stay safe

CM