Member Info for devonplay

"Personally I think once one gets to a certain wealth level, it is nice to amass physical assets. In particular, old gold sovereigns for example, or old florins make fascinating objects to own. The same can be said of old stamps - "
Dear God, how old do you think I am?! I do collect stuff for pleasure, I've almost 25000 I tracks in a combination on vinyl, CD and digital files. I have plenty of physical asses. Homes in the shires and another one on the coast.
I fund the collection of "trainers", mainly Adidas and hopefully, maybe next year, I'm planning to build a dub reggae style sound-system and build a dub vinyl collection to go with it.. I also collect Apple hardware, computers really. My fav being 9600 which I run BeOs on and use often. It's still good from '96! I'm partial to studio pottery as well and having an extensive library, that's increasingly digital. I also have fairly large, now defunct, collection of art-house movies on dvd.
I can appreciate a set of George III golds, but I can also see them in a museum.
When you say liquid, you mean I can sell them and get cash to invest within minutes from the comfort of my chair?
"After all, once you have a certain level of liquidity what really is the point of making even more money if you're never going to spend it? " fun, and inter-generational transfer.
I really could do with less clutter, what a godsend it is to have books, music and film in a digital format and if I wanted to spend time with "ol' florins" (who's she btw ;) ) I could do that online or virtually, the gold bit I'd rather have in a safe deposit box and sitting looking doesn't sound great fun LOL I don't really want any dusty old boxes or binders.
There, in a nutshell, is why I think the concept on collecting stamp NFT's is doomed to fail;
1, you are now dealing with generations who see "ownership" as subscription not a one-off payment.
2, it has very littler cultural reference: you'll note most well know "rich" collectors of stamps are in their 70's
3, We've got used to not paying for things we consume, some may want a virtual stamp collection, but you've got to consider if they are used to consuming as much as they can eat in movies, music and podcast for $10 per month, will there ever be enough of them to make it a worthwhile enterprise at a similar price?
That's why, in the words of those mostt highly respected Non-Execs your fav IPO is nothing more than "self-serving and (has) little regard for the wider interests of shareholders and other stakeholders. " It's about getting Phoenix the bacon oink! oink! ;)

Unfortunately stamps haven't kept up with gold for the last 40 years, so no I'm not tempted. I doubt if they are as saleable as gold bullion. I only have very little interest in coins, I'd prefer bullion or rounds. Especially in India there's much bigger market for gold, than Indian stamps.
No I haven't though of Baldwins. I appreciate you can make money from them, but I'm an investor not a collector. There's too much extra effort /premium over scrap value. In the end "collectables" can just go out of fashion and that effects their value. Stamps are a good example of that, there's only a small cohort that have real investment value, the rest are subject to fashion and the declining number of collectors. Besides that, they don't produce any income, have uncertain valuations in comparison to gold and silver in total crisis. Stand on a border trying to get into/ out of a county and the border guard is going to understand gold, he might not understand old Indian stamps...

500g gold bars @£2100 - I like that size, but I'm holding mine at around £700 . I think I bought those from Spinks & Baird ( Hatton Garden).

Did I mention Spinks are sponsoring, Stampex this year and have interseting auction on 7 October ""Important Stamps and Covers of the World" ;)

It looks like "round" are changing hands at c£19 plus VAT, not for me at the moment.

I do buy gold and silver bullion and coins. It had been good for silver this year, I believe it's sold off sharply, but I hold those assets for "disasters". So I don't check it on any regular basis. I do keep an eye on gold prices.
Yes, I buy listed/unlisted and "crowd" debt. Raging from negative yield to high yield and distressed. If you could find a broker who'd put a deal together for Evergrande you need to think of putting down £100k, if not £250k...so really not for retail investors.
I now only re-invest from portfolio income, on a monthly basis, as I've basically been semi-retired since my early 40's. I still think there's high yielding equity and Pref's about that offer income and growth potential. Which might hedge against the staginflation that's making markets twitch. Bonds could be more fragile.
Evergrande would be right up your street as you like to buy basket case instruments LOL
I do hold some Dignity 2049 bonds and they, last time I checked, were trading above par, @110%. As you can tell, I'm not a fan of overtly complex cross holdings, so Phoenix's greater control puts me off adding more.
If you want a list of my October interests happy to share. They are still at the ideas stage, but they, in my opinion, shouldn't lose you money in any substantial way, only time will tell if they make you any.
Just checked on
Silver 16.03 6 Month Change -8.72% £-1.53, you have to pay VAT and delivery on top of that, c 16 is a price that does interest me a bit. I prefer rounds to coins.

Yes Spink's app is there in the app store.
Stanley Gibbons doesn't have one, as far as I can see!

Spink will be pleased, main sponsors this year. Did you attend the Spink Auditorium?
I seem to remember buying bullion from Spink. I wonder if they still do that? I doubt it, there so much more competition these days.
I may download the Spink app and have a look around. Last year I made a 6 figure return at this game, so I might consider buying myself a treat from Spink. Bloomsbury was nice after a day of slog in the City.
Spink have a stamp auction coming up on the 7 October https://spink.com/ "Important Stamps and Covers of the World"
Spink has been operating since 1666

"Yes agree v good plan. Cash realisation, share buy back and retain >10% stake in nanopore. IP group is set up perfectly for growth
Who doesn't like a dividend and buy back. I'm intending to add more, but I'll wait to see if " buy on the rumour, sell on the news" makes an appearance over the next few weeks. Every portfolio should have something like IPO it.

What's up Pearls, are you able to tell me there's anything inaccurate that I've posted today? No, you cant.
These comments were the finishing note of an article YOU posted;
DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW.
& Dignity's Non-Exec's "lack of suitability of Gary Channon " & "Phoenix has made ill- advised public statements which have been self-serving and have had little regard for the wider interests of shareholders and other stakeholders. " Which came from an RNS issue by Dignity. I've put the date on it so you can check.
This can be checked easily from looking at the relevant charts:
Dignity's share price, alongside Hornby's, has been in decline for the last few months.
Dingity peeked in July @940 and today is 692 (Hornby is also on a downward trajectory)
- neither appear have shown much reaction to this news.
-- Phoenix have c130m tied up in this ménage à trois. As far I remember. ( that's my estimate, but feel free..)
This can be checked on Wikipedia, my interpretation, you've yet to make any besides saying it's going up, seems logical:
Sir Peter Wood launched Direct Line, so I would imagine he's going to be focused on the digitization on Dignitiy ' funeral plans, to put it in context, he's put c2.5% of his calculated fortune in this.....Dignity is probably going to be the main focus as Phoeix has the most capital committed, has been just been through a battle to take control of the Board, and frankly...eventually we all need a funeral, but none of use need to buy stamps.
You can see the Board Room battler by looking at the RNS & press release of each party.
This you can check on Phoenix's web site, but it seemed to surprise you, but then you didn't know about the Castelnau IPO either did you. Thank you , for Thanking Me for letting SGI shareholders know. Wonder why SGI hasn't?
"Sir Peter Wood and Gary Channon don't get involved unless there's a good reason."
Gary Channon has always been involved, "Gary Channon co-founded Phoenix in 1998 and has been the Chief Investment Officer since inception". You can check that on Phoenix's web site.
There's a slightly out of date estimate of Sir Peter's wealth on Wiki
"Sir Peter Wood launched Direct Line, put c2.5% of his calculated fortune in this.."
So, not sure what your issue is? My issue is accurate and sensible sharing of data and analysis, but you don't appear to enjoy fact's if they don't fit your ramp? Why don't you try calming down!
We've heard your vexations over your complete loss in Debenham, your loss here and the HBR reality against your 800p by now estimate.
As YOU say LOL ;)
Hahahaha please feel free to correct me, if you can.
I'd like to see SGI, because the business is performing, not because someone is trying to ramp it or "incestuous" or "complex financial engineering" that can't be explained at an AGM - quotes ("incestuous" & "complex financial engineering" ) that I think we can attribute to you.
Over to you.

So should we add that to our SEXIT formula?
Pearls article DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW. & Dignity's Non-Exec's "lack of suitability of Gary Channon " & "Phoenix has made ill- advised public statements which have been self-serving and have had little regard for the wider interests of shareholders and other stakeholders. "
What a merry ****tail that is! ;)

*S(tanley Gibbons) Exit for Phoenix SG & Aurora =SEXIT

Dignity's share price, alongside Hornby's, has been in decline for the last few months.
Dingity peeked in July @940 and today is 692 (Hornby is also on a downward trajectory)
- neither appear have shown much reaction to this news.
-- Pheonix have c130m tied up in this ménage à trois. As far I remember.

If you are considering risk, you might also read what the Dignity Non-Exec's said in an RNS, Released 07:00:04 13 April 2021
"Not for the first time since the Board convened the General Meeting to consider the resolutions proposed, Phoenix has made ill- advised public statements which have been self-serving and have had little regard for the wider interests of shareholders and other stakeholders. The Board has been informed by proxy voting agents, ISS, Glass Lewis and PIRC, that they are advising their members to support the Board and vote against both resolutions at the forthcoming General Meeting. In light of Phoenix's most recent statements, the Independent Directors are more convinced than ever that it is in the best interests of shareholders to allow the current management team to finish its work without handing executive control to Phoenix."
" That Phoenix has chosen to "go public" on these matters prematurely serves only as a further illustration of the lack of suitability of Gary Channon to be appointed as someone responsible for the executive function of the Company."
- or as Pearls describes them, our supportive shareholder....
Phoenix had build a 30% in Dignity who's market cap is 349.70m

"Sir Peter Wood and Gary Channon don't get involved unless there's a good reason."
Gary Channon has always been involved, "Gary Channon co-founded Phoenix in 1998 and has been the Chief Investment Officer since inception".
Sir Peter Wood launched Direct Line, so I would imagine he's going to be focused on the digitization on Dignitiy ' funeral plans, to put it in context, he's put c2.5% of his calculated fortune in this.....Dignity is probably going to be the main focus as Pheonix has the most capital committed, has been just been through a battle to take control of the Board, and frankly...eventually we all need a funeral, but none of use need to buy stamps.
.....research and understanding is so out of fashion, maybe Castelnau couple promote that.

Bless the Gods of Opportunity, any weakness in PEY(S) price has to be considered as a buying opportunity.

Hi, some little good news, REA potentially has turned a corner, they've paid a coupon on their Pref's, but not yet "caught up" on the outstanding. As far as I remember the sterling bonds haven't missed any payments. I bought some Pref's mid-80's and think they are 96 today. When, and if, they do catch up then there's a nice chunk of accumulated cash. I have a couple of payments on my ledger from Matalan, the last being early August. The refinancing issue remains constant, there almost a regular flow refinancing at a lower margin, so it is a bit more challenging, but he's in the right place with short dated. My historical bond portfolio is still yielding @ 9.6% and has a much higher yield to maturity. Is that an unknown? What the yet un-redeemed stocks will deliver at maturity? There's still higher yield around and there's sellers of it from time to time. You just have to work a bit harder. So I remain a holder, and I'm accumulating on a monthly basis. I've had a bond yield in the last few day c10% return ( coupon and capital) over bit more than 12 months. Now I face the challenge of where to go? I still happy to add RAV's equity and debt, there's a bioheat unlisted bond I like at 8% and New Day, which I think is already in NCYF portfolio. I've also been buying BPCR.L - 7% yield and I'm up a bit in capital terms. The debt market has a larger number of instruments than equity markets, so I doubt he's not got option. As we share VSL, PEY (and this) in our portfolio's portfolio, have you ever look over VOLTA FINANCE VTA.L it's one of those that I have on my list for "panics" and never quite get around to buying when there is one. In risk terms, I prefer BPCR, but Volta has some merits...and it gets cheap on occasion.
Have you ever looked at the "ethical debt market"? No liquidity, but the likes of Triodos, Abundanc and Ethex sometimes offer high yield risk instruments. I've picked stuff up, and you can for as little as £50 investments!, with yields ranging from 6-10%, so far no defaults. It appears Kenyan woman farmers are often more prudent that CEO's/CFO's of multinationals. No surprise there LOL

"wait for the SG marketing team to step into full gear"
Where have they been for the last 2 years? You have often complained about the lack of IR!
They haven't begun to "publicise" it after, what? After almost 3 moths? That suggests they either don't know how to, or no one is interested after the initial new coverage....I suspect the later. NFT's already look old news. How long do you think it's going to establish fractional stamps? As long as it's taken to establish blockchain? Lets think at least a handful of years. Maybe even a decade?
Castelnau launch by 18th October.....still no sign of that connected parties statement, SGI is the junior partner in all this, that's why Phoenix get 50% of any stamp sale and Castelnau get 80% of platform.
That kind of suggest they just want SGI to keep going, so they can exploit the IP, even your post back that up....did they write debt off at the AGM as you were hoping, tell you about Castelnau, restructure the balance sheet as you said" this business is controlled by it debt"? No...they just in the background planned SEXIT.
As your article said DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW ;) I doubt STAMPEX will resolve that.

Every day I feel the Castelnau IPO feels less like strategy and more like desperation or opportunism. Not sure it's going get away well.
There's to many over priced opportunistic IPO's around, fuel for the bonfire..inexperienced and new investors. They've jumped on the wagon at a good time LOL

Is that really going make much difference, I mean, you kept going on about auctions, and you know how the figures looked.
More debt, lower turnover and greater losses.
You even posted that article a few days ago saying how the turn around had failed, there was danger and the company was steaming off into to the unkown. That article also talked about liquidation.
Fascinating lots maybe, but in posting that it looks like you've accepted the point the turnaround has failed. Even though you've been saying the opposite for the last 2 year...I've always said there's a chance, but it could be 5 years away..maybe just another 3 from here. Time to buckle in and be patient..these things take years to turn round.

"Whether IPO should trade at or above estimated NAV
I am not so sure off"
I would expect below NAV, but in my mind the question is how far below NAV, and to be fair, if it's above: how far above given the inherent risk, say in comparison to that old stalwart HGT(Premium/Discount:6.55% according to Hargreaves)
I used to follow a website that listed, in a concise way, all the prem./discounts on London listed PE funds. It's hardly indicative of IPO and where IPO stands in terms of PE. But I'll see if I can find it.
I hold a small position in the stock, but confess I don't follow it in great detail, more as "hedge" than anything else. Being so close to the coal face you never know what nuggets they might stumble into, hence my willingness to hold some IPO if for no greater reason than "chance". I am considering adding more. That's why I'm here today I guess.

Thanks for the article Pearls:
"The Castelnau project appears to be like dangerous. Previous efforts to flip round Gibbons and Hornby have failed. But with Wood and Channon within the Fat Controller’s cabin, buyers received’t be steaming into the unknown.'
DANGEROUS, FAILED AND STEAMING IN TO THE UNKONW......all sounds appealing
SEXIT= last chance saloon or to quote Carpe "When they start parcelling up the debt, you know it's bad!"