Member Info for ErroneousBee

Dimly remember the dusty holes being drilled in the North Sea. I wrote that investment off, before I noticed they'd changed tack and Chepica was looking interesting. I think that was pure bad luck, with the quake and then the mine deaths coming so close together. My break even price is 10.5p.

There was an infamous poster on The Motley Fool who championed Lloyd's when they were trading bewteen 400-800p. Every post he urged investors to forget "diworsification", plough everything into LLOY and live like kings on the dividends. Fools told him that strategy would work until it didn't. It stopped working when Lloyds bought out HBOS, and then the PPI scandals hit.

I've bought into Lloyds for the recovery, but they are vulnerable. They don't have the heft of the big internationals, they can't be as efficient as the FinTech startups. I think late stage Lloyds will be drained of cash by executive bonuses, and then sold to some bigger bank.