Is Martin Lewis correct?4 Dec 2024 08:24
Good Morning to all,
I have held quite a large holding since 2008 from 29p to the recent higher value and have only posted once before to voice my frustration about Lloyds being stuck in the past. I am pleased to see that they have moved a bit since then and have finally realised that in order to get the younger generations to ever bank with them, then they need to do a lot more than continually make adverts of people standing around in fields with a black horse alongside the slogan "always there by your side"! I am only concerned about whether or not I should get out now whilst I am still ahead (although not as much as a few months ago), or is it worth the long term hold. I am not concerned about whether the SP plummets to the low 20's if I have a real chance of it ever recovering and sitting on good divs into retirement. My only real concern is whether this whole car finance debacle could, as ML suggests actually include even more loans in which exactly who got what was not entirely transparent and the number floating round of £30b of which I presume Lloyds is on the hook for 70%. As stated, share fluctuations do not concern me, we have all had that ride with Lloyds. What bothers me is what does the ML worst case scenario actually mean for the financial security of Lloyds? What do payouts on an even larger scale than PPI look like? Does the bank have the means to pay these and just reduce divs and share buy backs over a number of years or is it in danger of going belly up? I am always continually frustrated by the ML coverage just to get viewers as opposed to ever pointing out the strain that these 'no win, no fee' outfits impose on us all and an awful lot of peoples pension pots! Sorry for the length of my post, but I would really appreciate the views on my questions from the people on here that are much more seasoned traders and know much more than a guy like me just looking for some income in retirement. Thank you for reading my post.