Member Info for fleccy

Doesn't say much:

https://www.ipo.gov.uk/p-ipsum/Case/ApplicationNumber/GB2310704.8

"Boys on the naughty list don’t get rewarded"

https://www.youtube.com/watch?v=yJGUhVrS-Gs

Off Book, so neither a Buy or a Sell. Because they're Off Book they wont be price setting trades, so outside of the Bid/Ask spread, but the price would most likely have been based on the On-Exchange price when the Trade/s went through.

" what category does he come under?"

Probably the keeping it real category 👍I don't believe in Santa Claus either🎅

Before Binance bites the dust?

https://www.forbes.com/sites/digital-assets/2023/08/22/buyer-beware-sec-insider-issues-disturbing-binance-withdrawal-warning-amid-crypto-price-collapse-fears-that-could-crash-bitcoin-ethereum-xrp-and-bnb/

"This statement needs correcting for the benefit of the easily led. From VOD’s own accounts, actual FCF is lower than the div payout."

Moleman, you're correct that actual Free Cash Flow came in at €1.442 Billion, but they did shell out €1.893 Billion in share buybacks and have knocked €8.203 Billion off Net Debt. I admit that I struggle understanding Vodafone's accounts, but I don't believe last years figures were that bad. I'd be interested to know what other negatives you want to highlight in respect of Vodafone's finances?

"Yes P.Drahi could be the elephant in the room which way will he have to swing with his holdings"

Only Drahi knows the financials in relation to his purchase's. I suppose it's dependent on the interest rate, on the debt, used to purchase the stock. I'm not sure how tax treatment works in relation to institutional stock holdings; For example, can they offset tax on dividends against the interest on the debt used to build the holdings? For all we know the dividends may cover the entire interest on the debt. One thing's certain, there'll be some sort of tax benefits unavailable to retail mortals like us.

"Bitcoin relies on mathematical FACT"

Like the 51% attack? The theory is it isn't possible to achieve due to the cost of building enough hashing power, but I'd dispute that. A nation state could finance building enough hashing power to hijack Bitcoin, or in the distant future Quantum computers could be a threat.

https://medium.com/hackernoon/the-history-of-51-attacks-and-the-implications-for-bitcoin-ec1aa0f20b94

Funny how this didn't make the headlines. If Abject hadn't mentioned it I wouldn't have been aware of it, yet it's potentially important from a shareholder perspective. You can bet if the news had been disagreement with the Union, the media would have been full of headlines talking about the threat of further industrial action.

"To: All BT/ EE members

Pay Offer 2023 and 2024

You will recall in resolving last year’s pay dispute, the company committed to a further review of pay from 1 September 2023. Following discussions with BT with regard to this review, a pay offer has been made which the CWU has agreed to recommend to you via a consultative ballot in the coming weeks.

The terms of the pay offer are detailed below:

• A 2.5% pay increase that is fully consolidated and pensionable from the 1 September 2023 – this is in addition to the £1500 paid on 1 January 2023.

• A further 4% pay increase that is fully consolidated and pensionable from the 1 April 2024.

• These awards will flow through to those allowances specified in the NewGRID Agreement as automatically linked to the annual pay review.

• The date of the next annual pay review will be 1 April 2025.

• The pay offer provides pay increases from January 2023 to April 2024 of between 10%-14% and from April 2022 to April 2024 of between circa 14%- 23%.

The pay offer for next year provides a level of certainty for you. Inflation is showing signs of decreasing and whilst we are still in difficult economic times, the analysts’ forecast is that it will continue to fall to less than 4% by next Spring.

The pay offer is subject to a consultative electronic ballot and therefore you will get to vote on the deal. We recommend you accept this pay offer. The timetable for the ballot will be notified to you in the coming days. Please ensure we have your correct email address and look out for further communication.

If you have comments on the pay offer please email: btpay@cwu.org

Yours sincerely

Andy Kerr

Deputy General Secretary (T&FS)

1:01 pm · 21 Aug 2023"

https://twitter.com/CWUnews/status/1693594061402202348?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

"Cwu and Bt today announce an agreement over the pay reviews for September 2023 and April 2024."

Just noticed your post Abject, which means any union risk is now pushed out to 2025.

"It’s impossible to have a grown up conversation about the head winds and possible head winds in front of BT which do reflect the share price, without Fleccy"

You've said a lot about me and nothing about headwinds, let's list a few obvious ones:

CWU

La Patourel class action Court case later this year

Competition from Altnets and VMO2

I consider the negatives, weigh them up and don't mind discussing them, but it only amounts to my speculative opinion as to what may or may not happen. As far as quoting BT's transformation and cost saving statements, it isn't like I'm speculating or making stuff up, everything I say is from the horses mouth. If you guys spent as much time building valid arguments as you do having a go at me, maybe I'd take you seriously.

Just to add to previous posts, it isn't clear how a China slowdown would affect the UK economy, HSBC and Standard Chartered may be impacted and any financial firms with property investments over there maybe, but a collapse in the Chinese currency would export deflation and reduce inflation in the developed economies. There are so many variables it's hard to know what would happen, but I stand by what I said previously that I don't see anything happening in China affecting BT's profits, and if it knocked the share price then you know my view on that.

"maybe ...an option to review the share price history over these periods to see City behaviour , to add to what you "seem to remember""

Here's the thing, BT dropped to below 80p in March 2009 and closed at 499.8p on the 27th Nov 2015, a 524% increase in the price, so just because BT is currently sitting around 113p doesn't mean it wont be much higher in years to come.

"You bet LONG and do not hedge your investment as such ....your hedge is your own Guarantee to yourself that at some point you will be successful"

I have no leverage, I listen to and read what BT say, and I balance the probabilities based on my interpretation; Unlike the institutional investors who have to show annual profits and pay expenses/wages, I only have to profit once. Retail and institutional investors aren't comparable and are driven by different forces; The market makes money out of me when I sell at a loss, why would I sell a stock I have confidence in, when I consider it to be cheap and paying reasonable dividends at a good yield? And should I choose to reinvest the dividends, that reinvestment is locking in the current yield at the current price for that tranche of purchased stock. The argument that the dividends could be stopped could be countered by the argument that they could go up, although I think it's more likely to remain static for a while in BT's case.

"I would also guess that the high cost of the yearly maintaining of the systems and network does not fall much , just because revenue from users drops"

Poker, tell me what UK businesses would be affected? Because the UK economy is heavily weighted with service industries like Solicitors, Financial, Opticians, Dentists, etc and big institutional players; All of them also need to keep the lights on during a recession, as well as requiring connectivity. I see very little impact on BT's earnings in a recession, but we all have our own view as to what might happen in those circumstances. I worked in Telecoms in the 80's, 90's, 2008/9, and I seem to remember little impact on the workload during those periods.

"The market doesn't bet on opinions, like Retail does , it measures and hedges RISK and moves accordingly as RISK indicators change ...for better or for worse"

That just reaffirms my view to buy while stocks are cheap and hold as long as necessary. You can trade the market and see if you can beat the algo's and other traders, or bet long term and ride out negativity in stocks you perceive as safe and cheap. My stocks can go up, down, sideways, loop the loop and defy the ground, but It only becomes a capital gain or loss when I sell, in the meantime I've decided to add while I believe my target stocks are cheap.

"The sudden collapse of China would trigger a global slump."

Ok so that might impact BT's price negatively, but in a functional market money should pour into utility type stocks paying dividends. The market uses narratives to suit it's own goals, and doesn't appear to follow logic, as I said I'll make my own decisions and ignore the herd.

"The BT share price is like many other shares at present, a measure of the RISK related to the implications of the problems in China and the idea of achieving a "soft landing" or an economic stagflation recession"

Poker I agree that China is a worry at the moment, what I don't see is how that relates to BT. If BT was involved in resource, Commodities, Finance, shipping, or something actually affected by China, I could see why the market might be negative toward a stock like BT. BT provides Telecommunication services within the UK, and even if the UK fell into deep recession, people and businesses would still need connectivity. Unlike Altnets BT has an income stream that can finance its operations, so even if the UK did fall on its @r5e BT have the option of dropping the dividend, lowering Capex, and diverting cash into debt repayment and operations. Recession isn't an issue for for utility type stocks who provide essential services and I would include Telecoms in that basket, so in a functional market why would China impact BT? Of course the On Exchange markets are now dominated by algorithms, who's main role is to trade momentum, explaining why Blue chip stocks can now see big swings either way which wasn't always the case. Off Book trading is the biggest con of them all, allowing big players the opportunity to trade large holdings without moving the price.

"by his own admission, won't start to pay off for at least three years and probably seven years!"

That only applies if the market continues to ignore savings as BT's transformation progresses. As far as Lloyds and Vodafone are concerned, they're also dirt cheap and paying dividends. If you watch CNBC, the issue of UK stocks being cheap compared to the rest of the World is becoming more common, and regularly discussed on the channel.

All this enthusiasm, where's the update on progress bringing miners on board?

Seriously, anyone tell me what's new in these articles, apart from implying that they might sell the business? Even that statement is really vague and stating the obvious:

"This could include subscription, licensing, forming a joint venture, or outright purchasing the company and its associated technologies",

Really?

Being a cynical type, it looks more like pump than substance to me.

Not creepy Aus, I just wanted to see if you're too thick to work it out for yourself, and I got my answer.