The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
@ Beach and Roxbury,
I've been down exactly the same roads as you both, so I understand fully. Going forward, it's important to be honest with yourselves where things have succeeded, but more importantly, to admit to oneself where things have gone badly wrong. That is the path that enables learning, even if (like with me) things still tend to go wrong. :)
I made a mistake earlier this year on Saga by being too risk averse due to unreliable messaging by the government - I'll not be repeating that mistake.
@Rox - yep, I've done the massive highs and lows between the late 1990s and the months after 911. Phew! Stress or what! I went from very rich to rather poor in less than a year.
Having made good those losses and built a new, strong position, sadly, I lost another fortune last March in the energy sector. I will never be able to fully recover from that.
But well done to you Beach - I admire your courage. Great stuff. But be a little more careful next time, eh?
@slowandsteady,
Yes, I've been back in Saga for a while. My temporary set-aside made me miss almost 100p in movements which cost me another fortune. But I now have a huge position here averaged in the higher 300s and I expect to see several 100p movements up between now and next year.
Now is the time to enjoy seeing our first cruise ship return to the oceans in a few days' time and the associated press coverage.
And in another 4 weeks the inaugural - and likely full capacity - cruise of Saga's brand new cruise ship. Yet more media coverage to come there.
I find it rather hard to believe that the share price will not be over 600p by then with all of the restrictions being lifted for the double vaccinated - which is, of course, 100% of our demographic market.
I understand from the press that news of the above could well be broadcast by the government on Thursday afternoon.
And today, at last, a government representative is finally confirming what the press has been discussing for the last week.
From the BBC this morning:
Ministers are working on plans for quarantine-free travel to amber list countries for double-vaccinated Britons, Health Secretary Matt Han**** has said.
"We're working on plans to essentially allow the vaccine to bring back some of the freedoms that have had to be restricted to keep people safe,” he told Sky News.
"After all, that's the whole purpose of the vaccination programme, that's why it's so important that every adult goes out and gets the jab."
Asked if these plans could be in place as soon as August, the health secretary replied: "We'll get there when it's safe to do so."
He said the plans "had not been clinically advised yet - we're working on it" but said it is something he "wants to see".
Re your: "I still cant really go anywhere because most euro countries wont let Brits in at the moment without quarantine inbound."
May I suggest that you read the whole article? It continues ....
----------------------
Two jabs? These amber destinations will let you in, hassle free
A whole host of countries have announced they will welcome British holidaymakers with proof of full vaccination – that is, two doses of Pfizer, AstraZeneca or Moderna – which can be presented via the NHS app. If you haven’t received both jabs, then you will need to present a negative PCR result, usually taken 72 hours before travel, to be allowed in.
...
Portugal
Status: amber
FCDO advice: OK for non-essential travel
The fall guy of the UK’s topsy-turvy travel policies over the past 12 months, Portugal may have been demoted to amber just weeks after turning green, but the country is doing everything it can to welcome us in with minimal hassle. Everyone with two doses of the vaccine at least 15 days prior to travel will be exempt from any testing requirements, and there’s no need to quarantine on arrival. Obrigado.
Greece
Status: amber
FCDO advice: Essential travel only, except to Rhodes, Kos, Zakynthos, Corfu and Crete
Greece is straining to get on the UK’s green list, chiefly by racing against the clock to get its 6,000 islanders vaccinated by the end of June. In the meantime, it’s welcoming jabbed-up Britons with open arms. Proof of double vaccination at least 14 days before travel will get you in with no further tests or quarantine; you’ll just need to fill in a Passenger Locator Form before travel.
Croatia
Status: amber
FCDO advice: Essential travel only
Croatia was one of the first EU countries to welcome vaccinated arrivals. The FCDO states: "If you live in England, Croatia will accept the NHS app or your NHS letter to demonstrate your COVID-19 vaccination status. You cannot use a handwritten NHS COVID card as proof of vaccination for travel purposes." You’ll just need to fill in an online entry form before you go.
Cyprus
Status: amber
FCDO advice: Essential travel only
Since May 1, all British arrivals with proof of a full course of the vaccine are able to enter without taking a pre-departure PCR test. The only additional piece of admin is the requirement to fill out the Cyprus Flight Pass 24 hours within 24 hours of departure.
Malta
Status: amber
FCDO advice: OK for non-essential travel
Malta has delayed plans to allow fully vaccinated Britons in without tests or quarantine (originally due for June 1), but a Government statement has indicated vaccine passports will be accepted as soon as the EU’s digital Covid passport is “in place and functioning”, hopefully by July.
Where else?
This is only the tip of the double jab holiday iceberg. A number of countries are accepting vaccine certificates to ease testing and quarantine requirements for arrivals, including Belize, Ecuador, Georgia (the coun
The ultimate Covid vaccination travel guide – where will the jab get you?
Whether you've had one dose, two doses or are yet to be vaccinated, there are hassle-free 'amber list' destinations for every holidaymaker
Extract below - read the full article here:
Https://www.telegraph.co.uk/travel/advice/ultimate-vaccination-travel-guide-will-jab-get
Greg Dickinson,
21 June 2021
Vaccinated holidaymakers, it’s time to rev your engines. For if you glance up through the windscreen to our holiday traffic lights, you’ll see a distinctly green hue to the ‘amber list’ after last week’s news.
Four months after Ryanair met criticism for its misleading ‘Jab and Go’ advert, that sentiment might soon become the reality. The Telegraph understands that Government officials are drawing up plans that will allow anyone who has received a full course of the vaccine to sidestep quarantine after returning home from amber destinations, with some testing measures still in place.
If this goes ahead, it will be the silver bullet for the travel industry, effectively opening up holidays for tens of millions of Britons to our favourite destinations such as Portugal, Spain and Greece. Our flimsy green list – comprising Iceland, Gibraltar and (thank the lord) the Sandwich Islands – will be sidelined to obscurity.
BBC TV this morning.
Justice Secretary Robert Buckland has said that the government are looking into the possibility to ease travel restrictions for people who have received both Covid jabs.
He told the Andrew Marr programme that the government was trying to be as flexible as it can, but the evidence was still emerging.
"We are constantly keeping all these matters under review."
A Taste of the British Isles departing from Tilbury on 2nd August aboard Spirit of Discovery looks like it has sold out.
It was the earliest cruise available for sale yesterday on the page below, but this is now Italian Charms departing on August 15th.
Looks like more good news.
Https://travel.saga.co.uk/cruises/ocean/our-ships/spirit-of-discovery/calendar.aspx
And yet more coverage in The Telegraph ...
Https://www.telegraph.co.uk/politics/2021/06/16/return-holidays-abroad-people-fully-vaccinated/
Return of holidays abroad for people who are fully vaccinated
Double-jabbed tourists could be allowed to travel to amber list countries without quarantining under new government plans
Summer holidays abroad will be opened up for vaccinated Britons under plans being considered by the Government, The Telegraph understands.
Officials are drawing up proposals that could allow people who have had both Covid jabs to avoid having to quarantine on their return from amber list countries, although they will still have to be tested.
The change would effectively turn amber countries green for the vaccinated, opening up the possibility of quarantine-free travel to most major holiday destinations in Europe and the US.
The proposals to ease the restrictions for vaccinated people are said to be at an early stage. Matt Han****, the Health Secretary, who has fought for tough border restrictions, is said to be "open" to the change.
"They haven't definitely got there yet, but that's the direction of travel," a senior source told The Telegraph.
I'm sure that it will be 80% max for the June and July summer UK cruises. No chance of 100% for these in my opinion, as this was the basis on which they were marketed.
Thereafter, hopefully a return to the normal pax capacity of 999 from August 2nd onwards.
Further great news. The Scottish Highlands and Islands cruise aboard Spirit of Discovery departing June 27, 2021 has now also been amended to avoid Scotland and upgrade to warmer and more pleasant western and southern coastal English ports.
The amended itinerary will now see Spirit of Discovery visit the West Country and South Coast.
June 27, 2021. Tilbury. Depart 1800.
June 28. Portsmouth. Arrive 0800. Depart 1700.
June 29. Portland. Arrive 0800. Depart 1700.
June 30. Isles of Scilly*. Arrive 0800. Depart 1700.
July 1. Falmouth. Arrive 0800. Depart 1700.
July 2. Scenic cruising South Coast.
July 3. Tilbury. Arrive 0700.
Great news. The From the Northern Isles to the Fjords cruise aboard Spirit of Discovery departing July 3, 2021 has been amended to avoid Scotland and upgrade to warmer and more pleasant west coast English ports.
The amended itinerary will now see Spirit of Discovery visit the West Coast of England.
July 3, 2021. Tilbury. Depart 1800.
July 4. Portsmouth. Arrive 0800. Depart 1700.
July 5. Falmouth*. Arrive 0800. Depart 1700.
July 6. Scenic cruising North Cornwall.
July 7. Bristol. Arrive 0600. Depart 1700.
July 8. Scilly Isles*. Arrive 0800. Depart 1700.
July 9. Portland. Arrive 0800. Depart 1700.
July 10. Scenic cruising South Coast
July 11. Tilbury. Arrive 0700.
The Spirit Of Discovery is still sailing, currently just off the coast at Gravesend, steaming west at around 4 knots and looks set to re-enter Tilbury docks shortly.
It's great to see one of our superb ocean liners back out and about with just 2 weeks before passengers are set sail with Saga once more.
The Spirit Of Discovery is at sea right now having left Tilbury 40 minutes ago (at 4:33pm). It is due to return to Tilbury at 4am tomorrow.
It is currently just south of Canvey Island and is steaming east at around 15 knots.
If you're on the Kent coast it may be worth nipping out to see if you can spot it during the next couple of hours.
The effect of the delay in adding additional countries to the green list will have a miniscule effect on the travel side of Saga.
All of Saga’s UK cruise programme is 100% unaffected and this will continue towards the end of August. With the Spirit of Discovery setting sail in just three weeks’ time I wouldn't want to risk being sat on the sidelines right now.
I fully understand someone wanting a lower buy back price to this recovery stock - I've been there, done that and have largely paid for the construction of the associated tee shirt factory. ?? But with the insurance arm of the business going well and ocean cruising about to restart, I will not be selling anytime soon.
As for the race between the virus and the vaccine, yesterday we passed two important milestones.
Firstly more than 50% of the UK population has now had two doses and is therefore already fully vaccinated. Also, it was announced that three-quarters of adults in the UK had received a first jab.
Secondly, we passed the global benchmark that 2 billion vaccine doses have been administered across 176 countries, according to Bloomberg. With the latest rate of roughly an additional 36.4 million doses a day. A fantastic global achievement.
Yes, it is annoying that Boris Johnson’s insistence on trying to continue with this trade mission to India unnecessarily opened us up to some local infections of a new variant. But case rates in hotspots like Bolton and Bedford already appear to be coming back down according to the BBC just yesterday.
As ever, no one can predict the future and things still may still take a turn for the worst. But that's not where we are now and I will not be persuaded into foolish decision making with my investments (again) by sensationalised media stories.
To those getting restless whilst the share price remains below £4.00 - just be patient.
This is a great share to own, now just 4 weeks away from Saga's ocean cruising restart, finally adding value back into a very strong positive cashflow just from the non-travel businesses over the last year.
I'd bet that dividends will restart within 2 years of cruising's resumption - mind you, by then the share price will likely be multiples of the currently very low levels.
The hugely wide spread ownership (see below) of this company know what a winner they are onto here, with all UK summer cruises already 100% sold out.
I was hoping to make the updated list below, but must have just missed out ... :)
26.31% Roger De Haan 36,855,555
5.36% Saga Plc., Employee Stock Ownership Plan 7,509,376
3.71% UBS Asset Management 5,197,333
3.16% Ignis Investment Services Limited 4,425,541
3% GWL Investment Management Ltd. 4,200,594
2.49% HBOS Investment Fund Managers Limited 3,486,745
2.21% BlackRock, Inc. 3,091,803
2.2% Pictet Asset Management Limited 3,088,270
2.06% A J Bell Holdings Limited, Asset Management Arm 2,890,274
2.01% Royal London Asset Management Limited 2,815,135
1.93% Barclays Bank PLC, Wealth and Investment Management Division 2,697,691
1.84% Standard Life Aberdeen plc 2,583,931
1.62% HSBC Global Asset Management (UK) Limited 2,271,172
1.5% Dimensional Fund Advisors L.P. 2,108,183
1.5% Legal & General Investment Management Limited 2,098,044
1.4% N.F.U. Mutual Unit Managers Limited 1,967,622
1.4% Majedie Asset Management Limited 1,962,014
1.35% Interactive Brokers Group, Inc., Asset Management Arm 1,894,218
1.08% Equiniti Group Limited, Asset Management Arm 1,516,121
1% Schroder Investment Management Limited 1,406,405
0.91% Aviva Investors Global Services Limited 1,279,142
0.84% Goldman Sachs Group, Investment Banking and Securities Investments 1,178,914
0.78% IG Group Holdings Plc, Asset Management Arm 1,090,363
0.76% The Royal Bank Of Scotland plc, Asset Management Arm 1,062,945
0.73% JPMorgan Chase & Co, Brokerage and Securities Investments 1,018,620
The latest UK and global vaccination update for those interested – a massive 862000+ vaccinations have been administered by our glorious NHS in the latest 24-hour period. Globally, nearly 30 million doses are now being given every day. An incredible achievement.
Total people in the UK that were newly vaccinated: 205,410
Total people in the UK that had newly received their second jab: 556,951
Total people in the UK vaccinated to date: 37,943,681
Total people in the UK that had received their second jab: 22,643,417
The biggest vaccination campaign in history is underway. More than 1.65 billion doses have been administered across 176 countries, according to data collected by Bloomberg. The latest rate was roughly 29.1 million doses a day.
United Kingdom Covid-19 Patients admitted to hospital (daily, total)
16-05-2021 78
15-05-2021 90
14-05-2021 94
Previously for comparison …
15-03-2021 494
14-03-2021 425
13-03-2021 460
12-03-2021 469