Member Info for fleccy

"Decision time, should I spend my £3k now or wait little bit more?"

Obelix must be approaching £130k invested by now, that's a lot of cash to bet on an AIM stock.

"Not sure uk pension schemes should be wasting effort mitigating the risk of “increased” life expectancy."

It's just a hedging strategy, the BTPS trustees are looking at an eventual insurance buyout. They seem to going through some changes with the name change to Brightwell and disassociating themselves from the BT name, and taking on the management of the EE pension fund as well as looking for more external business.

"Fleccy, of course not., but i highly doubt it will ever get back to £7 a share, let alone £10 as it was in the very late 90s"

Agreed, but a lower share price gives the opportunity to average down dramatically and increase dividend income in the process. Anyone holding shares between £7 and £10 would have had to purchase around 1999/2000 and would likely have purchased an amount within their budget. Over the last 23 years they would have had the choice to average down, hold, or sell; For anyone who sold they'd lock in the loss, holders will have had some dividends as compensation, re-investors and people topping up to average down would have benefited from the lower share prices following the Dot com bubble bursting. Between 2001 and 2010 BT's share price saw prices around £4 at the start of 2001, and a low of around 80p in 2009, so people who stuck it out and topped up would have had ample opportunity to average down massively during that period, and if they'd held up to 2015 when the price was in the £4 to £5 range, they would probably have turned a healthy profit if they then chose to sell.

All any of us can do is speculate about what might have been, or what may or may not happen, we all have to do our own research and make our own decisions.

"enjoy the divvi on money you likely wont ever get back, or cash it in at a realised loss and move on with you life."

Ian, are you saying that once:

£5 Billion capex tails off dramatically

Cost savings from convergence and building closures filter through

Cost savings due to reduced energy bill from the move to a passive access network

Staff reductions reduce the wage bill

BT will still have a P/E of around 6?

Is that one of the new 5G private networks, replacing Wifi?

What are the symptoms?

Karidis is a BT Uber bear. He appears to be on a mission to pump the prospects of Altnets as a stick to beat BT with, through any media presentation that'll quote him. He appears to be particularly vocal and focused on beating up BT at every opportunity. All I can think is that he either has a deep dislike of BT for whatever reason, or he has a vested interest in the BT share price performing badly. I give his views the same importance as Polo Tang's, I read what he has to say but take most of his opinion with a pinch of salt.

"I’m sure you don’t want to go back round the discussion about value of money and impact of inflation but put very simply the dividend is not coming close to maintaining true value of investment."

Doesn't that depend on when you invest Pete? The current price is £1.22, so any new investment or dividend reinvestment now will Yield around 6.3% annually. If future dividends are reinvested then each reinvestment leads to higher dividends year on year with each reinvestment. If the share price then doubled, the extra shares purchased through reinvestment would have a multiplier effect if you then decided to sell.

Since BT currently has a P/E of around 6, it isn't beyond the realms of possibility that the price wont be 3 or 4 times the current price at some point in the next 3 to 5 years, so people have a choice to buy, reinvest, or sell; If I didn't have faith in BT's strategy then I wouldn't buy BT stock, but I believe what they're saying so I'm happy to top up while I wait for Telecom sector sentiment to turn upward.

As far as inflation's concerned, there aren't many accounts yielding 6.3%, so I might as well reinvest in what I consider a bargain stock with the chance of seeing the price climb from here. We all have a choice, I've made mine quite clear.

"Exactly Expat. The belief that BT are going to suddenly going to turn it around and the market perceive them differently is becoming about as plausible as ‘the second coming"

Does it matter if the price stays low for the next 5 years, as long as the dividend's maintained? What some see as a negative, others may see as a reinvestment opportunity, taking advantage of higher dividend compounding returns while the price is low; For people who don't want to reinvest back into BT, they can invest in other stocks or use the dividend cash for other things. The low price narrative is only important to people who want to get out sooner rather than later.

"To hit the 10 min target your average miner needs circa 3000 mining rigs. To test the theory on 1 rig takes circa 1 month."

Since their update suggests the firmware is installed as plug and play on individual mining rigs, couldn't they have joined a mining pool and tested the performance with and without the algorithm enabled? If the algorithm works you'd expect a significant measurable increase in performance with the rigs using the algorithm, against rigs that aren't, or am I thinking about it too simply.

There are video's of small miners measuring the performance of ASIC Boost, why couldn't QBT have done similar on a larger scale?

https://www.youtube.com/watch?v=rldrYK_2R9c

https://www.youtube.com/watch?v=87shWXef8AQ

If they need the Pool provider/controller to do something to enable boost algorithms, maybe that's what they should be looking at.

"If Rishi wants something from the EU and negotiations are in play then promising not to obstruct a takeover could win him something that he cares more about."

Something that's never happened before would happen under your scenario, of DT being allowed to takeover BT; The Daily Mail and the Guardian would join forces in condemning the Government, for overseeing the loss of one of the few remaining truly UK based companies; Alex Brummer would throw a hissy fit and shout protests from the rooftops, and Rishi would face a massive barrage in Parliament. Does anyone really believe the Government would allow a German company to take over BT? The noise would be be less than a French company making a move, but only slightly less.

I mean Grand Plan, I don't think they have anything to do with masterplan lol.

"Who knows , but unless there is a grand plan somewhere I can only believe Crozier and the Board have just consigned BT to Five years of mediocre share price performance with this appointment and surely that’s a death wish as the major investors patience surely won’t last and both Chairman and CEO will be out before 2025 dawns."

Expat, BT have been really clear on the plan for the last 3 years:

"Fourth quarter and year to 31 March 2020

7 May 2020

New FTTP target to reach 20m premises by mid- to late-2020s, on the assumption we obtain the required critical enablers

Phase 1 of our transformation programme complete; next phase of modernisation to deliver annualised gross benefits of £1bn by March 2023 and £2bn by March 2025, with £1.3bn one-off cost to achieve in total across the five years"

"Fourth quarter and year to 31 March 2021

13 May 2021

Ofcom's WFTMR1, outcome of recent spectrum auction and Government’s tax super-deduction allows us to increase and accelerate our FTTP build from 20m to 25m premises by December 2026; BT to explore potential joint venture for additional 5m build"

"Fourth quarter and year to 31 March 2022

12 May 2022

Achieved gross annualised cost savings now totalling £1.5bn; increased target to £2.5bn by end FY25, within the previously communicated cost to achieve of £1.3bn"

"Fourth quarter and year to 31 March 2023

18 May 2023"

"Openreach is competing strongly and it’s clear that customers love full fibre. The Openreach Board has reaffirmed its target to reach 25 million premises with FTTP by the end of 2026 and plans to further accelerate take-up on the network."

"Cost transformation on track with gross annualised cost savings of £2.1bn since April 2020 against our £3bn target, with a cost to achieve of £1.1bn against a target of £1.6bn"

There are lots of other things in the mix like 5G rollout, exchange closures, PSTN switch off and more recently staff reductions. I think BT have communicated their masterplan really clearly.

Expat, I recently gave an example of the EU awarding BT the contract for building/managing their TESTA network, and then withdrawing the contract because BT is a UK based company; With the EU doing that, do you really believe the UK Government would allow DT, or any other EU based entity, to takeover BT? Clearly they wouldn't.

Why would they need to test with a mining operator anyway? They could use their own mining rigs and test using data at the current difficulty level, and compare the results with and without method B installed. What they wont be able to simulate, in a lab environment, is how the software integrates/functions in a large commercial operation, but I can't see the likes of Foundry allocating large numbers of rigs to test QBT's software for them anyway.

"The only possible positive could be that she won’t rock the boat whilst a takeover takes place."

Who'd take over BT expat? I can't see the Government allowing a foreign company to take them over, even a US or EU entity, and other than private equity there's no one left in the UK who could takeover a company like BT.

This month, the Total Voting Rights have reduced by 280,861,057.

https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1812824850&format=interactive

https://docs.google.com/spreadsheets/d/e/2PACX-1vS0oSavIsBjHgD7k6NMyk7Z591Cm2IrevvLI-Jq95gOmESrOI0Vi_NhA8LIO9rMz90Y5zCOCoFuEItG/pubchart?oid=1451011517&format=interactive

I don't believe Telia's share price performance can be attributed to Allison Kirby, it's the market's treatment of Telecom stocks in general that's driven Telecom sector price performance's. In reality BT's strategy appears to be written in stone, and she's stated the strategy wont change under her leadership. I suspect she'll just oversee strategy execution, and as long as she doesn't make any big changes to strategy everything should roll along. The captain of a cruise liner spends most time socialising with the passengers, and little time steering the ship, in BT's case the course appears to laid in and on route to the destination.

Looks as though the woke agenda, to fill as many FTSE CEO seats with Women, is going full steam ahead; I wonder if Marc Allera is happy about this. I must admit I'm not familiar with Allison Kirkby, but how much of this decision is politically motivated? The market doesn't appear to be reacting either in respect of BT's share price.

"In the case of these Dinghies that would mean the right to stop them entering English waters and be pushed back to France."

Indeed, but I was referring to the ones that are already here.

"there is a reason poland, hungary and romania are forecast to be wealthier than the uk by the end of the decade."

That'd be OK, we might then get a Government with b@lls who stand up against the woke brigade and kick out anyone who shouldn't be here, like anyone who's come across the channel in a dingy. In the meantime they should coach them up to Scotland 🤣