Member Info for fleccy

"Taxes In The UK Are Too High – Even Jeremy Hunt Says So"

https://masterinvestor.co.uk/economics/taxes-in-the-uk-are-too-high-even-jeremy-hunt-says-so/

Jambone, my take from the fantasy described in your last post is LMFAO.

"Looking at Fleecy’s posting history, he posts more on the QBT board than the Lloyds one
I wonder why?"

Because I check in everyday and see what's going on.

I posted today because PAS14 used my username in the subject header of a thread, and it doesn't take a genius to see why I responded. Before today, I posted one line on Wednesday about Bitcoin's price falling and before that it was a week ago on the 21st April, so I've hardly posted on QBT recently, apart from today; That'll teach you to mention my name lol.
I'm not sure why I receive criticism, when others put out false information of a ramping nature that is then pumped up by the Boiler Room crew as if it's a fact, like the recent FOMO thread titled "Update inbound, had it confirmed".

"and will leap at the chance of an olive branch from the EU to come back at a distance and massive price."

I would never, ever, ever vote to rejoin the EU, but I needn't worry since no Government would dare suggest another referendum. Anyone who believes the UK will somehow buckle and rejoin, will be disappointed, I don't see it in any of our lifetimes.

"I have made a number of purchases in CTY (City of London) since November 2021 . they hold a number of my stocks held individually - happy with the investment"

Never heard of them, but they don't appear to have done much price wise, at a glance. I assume they pay dividends, or reinvest automatically? I would have taken a look, but I'm feeling lazy today.

https://www.google.com/finance/quote/CTY:LON?sa=X&ved=2ahUKEwib6e_w98z-AhWFVaQEHXKiD4EQ_AUoAXoECAMQAw&window=5Y

Yeah I'm going to one next week, as well as Dining out at the weekend, you?

The impact of share buybacks up to today:

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

I've been filling my boots with my favoured UK stocks, while prices are low, and reinvesting dividends as they come in. I wouldn't go near Investment Funds, I don't trust them and I'd rather have control over my own investments.

"Why did you post you had £1m invested in Lloyds then"

It isn't my fault if you guys are either incapable of remembering things correctly, or read what you want to read. I have never claimed to have purchased a Million shares, or spent £1 Million on a purchase. I've just had a quick look back to find my posts and this is what was actually said:

Here is the series of posts that you guys have misinterpreted, although reading back through them I have no idea how you could mistake the content or theme of the posts.

First post from me:
"RE: Bitcoin 11 Apr '23
"I’m actually embarrassed for you most of the time"

Bitcoinbull, don't be embarrassed for me, as I see myself as far more grounded in reality than you. As an example, today I bought another £20,000 worth of Lloyds shares at 49.4p, taking our total Lloyds holding up to 443,260 shares. On Thursday Lloyds goes ex dividend entitling us to a 1.6p per share payout of £7,092 in May, and that's just one Lloyds dividend payout. Over the next year we'll pull around £23,000 in dividends across all our holdings, I don't worry about our Lloyds investment, it's a gift that keeps on giving.

"Pmsl. Dear oh dear flakey, that is hilarious, people have bank accounts seized and frozen and some people have been made to hand their money over, so yes a banking system is much safer, not."

Clearly Jambone I take a different view to you, I'm doing very well out of my bank investments, so it's obvious I don't buy into the doomsday scenario painted by the Crypto lunatics."

Mr Hanji then posted:
"RE: Bitcoin11 Apr '23
"£20,000 worth of Lloyds shares at 49.4p, taking our total Lloyds holding up to 443,260 shares. On Thursday Lloyds goes ex dividend entitling us to a 1.6p per share payout of £7,092 in May"

I'm not being funny but that is not a good investment.. your asking an investor to fork out almost a £1,000,000 to buy 500,000 shares for £8k.. I've rounded up the numbers for ease of calculation. In percentage terms that's only.. 0.8% return.. if you trust the banks so much you would have got a better return.. top savings account are paying up to 4.6% lol."

I then corrected Mr Hanji's example:
""I'm not being funny but that is not a good investment.. your asking an investor to fork out almost a £1,000,000 to buy 500,000 shares for £8k.. I've rounded up the numbers for ease of calculation."

You've lost me. I'm actually showing a capital gain on my Lloyds shares, so my overall average price per share is below 49.4p.
Assuming I bought £1,000,000 worth of Lloyds shares now at 49.4p.

£1,000,000 - 0.5%(stamp duty) - £10 (dealing charge) - £1 (PTM Levy)
= £994,990 to purchase shares

£994,990/0.494 = 2,014,149 shares

For the May Dividend of 1.6p
2,014,149 x 0.016 = £32,226

If you look at last years full year dividend of 2.4p:
2,014,149 x 0.024p = £48,339

"I've rounded up the numbers for ease of calculation.""

"it makes perfect sense that digital currencies will grow... to me it has a certain logic to it"

It isn't a currency, it's just a repurposed distributed digital database, or ledger. It has no intrinsic value whatsoever and was marketed as a poor substitute for Fiat currency, but that narrative seems to have faded. Because it has nothing backing it, or isn't pegged to anything, it's free floating with a valuation based purely on sentiment and therefore extremely volatile. Most, if not all of the narratives supporting the case for Bitcoin, have been proved wrong as time has passed; As I've said before, even the likes of Saylor don't describe Bitcoin as a currency anymore, apparently it's a commodity and store of value now. You could just as easily create a database with up to 21 million entries, with each entry box having 1 MB of storage space, and then auctioning each entry to any fool who wants to purchase a slot in the database. Would you pay $29,000 for 1 MB of space in a database? Because that's what people are trading with Bitcoin. It's jazzed up, and dressed up to have mystique in order to attract a cult following, but in the end people are just buying a 1 MB slot in a database with the potential for 21 Million entries. It's laughable that people are taken in by something like this, it must be a form of mass delusion.

"because you say you have a £1m invested in the banking sector"

I don't have £1 Million invested in Lloyds shares, or hold 1 Million Lloyds shares. You guys are confusing an example, I gave to make a point, with my holding in Lloyds. We currently hold 443,260 Lloyds shares, not a Million shares and our holdings didn't cost £1 Million.
I don't like Bitcoin because I see it as a waste of resource and something that provides no benefit. I think people who invest in Bitcoin do it for the wrong reason, unless they believe in the greater fool theory and want to profit from other peoples stupidity. Crypto is just a blight as far as I'm concerned and the sooner its irradicated the better. My dislike of Bitcoin has absolutely nothing to do with my own investments, it's purely based on my opinion that Bitcoin's useless cr4p.

"flec

ffs - give it a rest"

Lol

"He added that if prices remain well above mining costs ($15,000), miners will likely hold onto what they mine instead of selling."

That is a typical vested interest article, the above quote says it all. Because of the Halving the miners need to see Bitcoin double in price at each Halving, or half their production costs just to stand still. They need to invest in new hardware, irrespective of any AsicBoost software implemented, since the Bitcoin difficulty algorithm will always limit production to 1 block every 10 minutes, so the only way to win is to be among the last men standing,
In summary, without significant increases in the price of Bitcoin, miners will struggle to meet their Capex and debt repayments. As far as Bitcoin reaching $100,000, that's just pure speculative hype from vested interest sources, the higher the price the more selling pressure irrespective of what the article says.

"Pros and cons of off-book trades
Pros of off-book trades
Off-book orders are not as reliant upon the rules of an exchange or trading system. This means that they can provide a lot more freedom and flexibility for participants to choose their own prices and outline the parameters of their own trade. The counterparties can create a private agreement that suits both of their needs and goals.

Cons of off-book trades
Off-book trades can have a higher risk of counterparty default, as there are very few rules or contractual obligations.

For some off-book trades, there is no official record kept at all. The drawback of this, is that off-book trading is often used by individuals looking to conceal their behaviour from others.

The lack of official regulation can also be a cause for concern, as there is no obligation for either party to report the trade to an exchange or publicise the orders to a governing body. And even when off-book trades are reported, so that they are executed ‘on exchange’, the process can be time consuming and experience significant delays. This is because the exchange doesn’t have to record the trade immediately."

https://www.ig.com/uk/glossary-trading-terms/off-book-definition#:~:text=Off%2Dbook%20orders%20are%20not,parameters%20of%20their%20own%20trade.

"Once you get an obsession, you don't let it go. Posters have been through this with you already last year on the Vodafone board - don't really want it transferred to the Lloyds board."

Hmmm, I don't remember that, but I'll take your word for it without going back through my posting history. Disregarding that, I only used yesterday as an example of what happens when Off-Book trading is used to avoid raising the price On Exchange. As far as not letting stuff go, that's like the pot calling the kettle black coming from you, as I've seen you argue a point ad infinitum until the other posters eventually give up.

"they are shown on the stock exchange site the same as an algo trade, with the prices in line with algo trades"

The Off Book trade price is usually based on the On Exchange price at the time of the trade, but isn't price setting in itself, as it doesn't add to the On Exchange volumes and avoids the momentum algorithms raising the On Exchange price in response to the tick up in volume. My argument is that all trades should be On Exchange and price setting, since Off Book trading through dark pools or other means distorts the price setting mechanism, and although many Off Book trades are listed in short order, many aren't appearing at the end of the day. I'll leave it at that.

For your curiosity, today's VOD trade volumes are:
On Exchange 42,919,423
Off Exchange 42,511,542
UT 32,696,561
Total Vodafone Volume for today 118,127,526

"you can see off book trades on the stock exchange site with about a 15 min delay."

Yes, but only for the current trading day. Th figures shown on the Trade recap page are for On Exchange only. You can capture the current days trading data, in a spreadsheet, and it will list Off Book trades as well. I'm not sure what the argument is here, are you disputing my figures for yesterday?

26th April 2023
Vodafone On Exchange Volume 79.94 Million
Vodafone Off Exchange Volume 234.026 Million
Vodafone Total Volume 313,966,513

"No amount of work would let me imagine the existence of an entity that people call 'God'"

We live in a Quantum Universe, so maybe we go where our imagination takes us, once we shed our mortal coils. Scientists don't even know if the Universe is real or a hologram, with Science getting closer to philosophy as it moves from the macro Universe and enters the Quantum realm, where all things happen at the same time and outcomes are determined by probabilities. Maybe God exists for some, and not for others, and the outcome is determined by belief; If I'm right, I'm banking on becoming a God when I eventually pop my clogs, but I'm probably both right and at the same time wrong in thinking that, lol.

"The stock exchange site shows off book trades"

The Company page shows accumulated Volume for the day, including reported Off Book trades, but the Trade recap Bar Charts only show historic On Exchange trades.

The total volume of Vodafone shares traded yesterday were 313,966,513

Correction lol

If you can't see how Off-Book trading, combined with On Exchange trading, can be used to manipulate prices, then you should work on your imagination.

"The price is at a level that parties are willing to exchange at - fair to both parties"

I'm not sure if you purposefully talk one dimensionally, or that's the way your mind works, you missed the entire point I was making in the post. If every single one of yesterday's Vodafone trades were completed On-Exchange, then it's likely Vodafone's share price would have climbed higher than it did. The fact that three quarters of the trades were Off Exchange, and therefore not price affecting, will have skewed the price lower than it should have been; So it clearly isn't fair in respect of long term holders, irrespective of any benefit for the two parties involved in each individual trade . If you can't see how Off-Book trading combined with On Exchange trading can't be used to manipulate prices, then you should work on your imagination.
Your statement, "fair to both parties", disregards the investors holding for the long term, so it isn't fair to all parties.