Member Info for fleccy

"Fleccy, HAPS made me smile"

Not sure why it made you smile, the technology has already been proved.

https://en.wikipedia.org/wiki/High-altitude_platform_station

https://www.youtube.com/watch?v=s8p1S2LkZWk

https://www.youtube.com/watch?v=dhPk7eGfF6c

Smiler you need to read up on available bandwidth vs frequency and atmospherics with free space path loss as frequency increases. The distance between a cell tower and a users mobile will likely be less than 10km, whereas a Starlink satellite will likely be around 500Km away assuming it's directly overhead. Because a cell tower is stationary compared to the mobile user, the Cell MIMO antenna's wont have to adjust their directional gain on the fly to compensate for atmospherics and free space path losses and the cell antenna's will likely be larger than those on a satellite.

I could go on, but the truth is that satellites will never be able to compete with terrestrial cells when it comes to direct mobile calling, at a push they might be able to supply a patchy service in very isolated locations with low mobile usage. It's about time people stopped peddling this myth that satellites will replace terrestrial cell tower service.

There are even alternatives to LEO's, for isolated rural locations, like HAP's which are much closer and therefore capable of providing a superior service compared to satellites.

Are they allowed to share information that might move the market, before releasing a PRN/RNS?

I believe the whole Telecom sector is undervalued, for some reason the market has decided to drive their valuations down to rock bottom. It isn't just Vodafone and BT that's been shunned by the market. Not so many years ago there's no way Vodafone and Three would have been allowed to merge, but all of a sudden they're allowing it. I believe the market will eventually rerate the sector upward, in the meantime I'll just keep collecting dividends while I wait.

FTTP uses less power because it's generally passive (PON) from the Exchange to the Premise, whereas copper requires power/batteries to supply 50v. BT is one of the largest users of Electricity in the country, their power requirements will fall year on year between now and 2030. Convergence and building footprint reductions will lower BT's energy bill even further.

As far as climate change policy, I have mixed views. On the one hand I do believe climate change is real, but the UK's contribution to greenhouse gasses is insignificant whether we drill/frack for oil and natural gas so I think Government policy is misguided when it comes to energy policy.

In the meantime Trump says "drill baby drill" while California burns, probably due to climate change.

"Vodafone is probably 10% underpriced. BT is probably 10% overpriced"

PRK what are technicals/fundamentals you base that comment on?

Mole_man your post assumes that the US market will just keep climbing to infinity and beyond, stock market history would suggest otherwise. The US is well overvalued against other markets because the herd has been charging at full speed in that direction, it's inevitable that there's a cliff somewhere in the distance and usually a large number of the herd will fall off the cliff when they reach it.

I would suggest that many UK stocks are already in a valley and grazing with good dividend yields, why not invest in reasonably safe dividend paying stocks at rock bottom valuations? The cheaper a dividend paying stock is, the more stock you can buy and the higher the dividends, anyone who bets on indefinite growth in an already overvalued market is sure to run off the cliff.

"Maybe you should look into the tax benefits of write downs?"

Jonny you're correct about the benefits of offsetting losses against tax, but that only becomes relevant in companies making a profit. There's no tax liability without Net Profit.

If I'm understanding the situation correctly, the changes are going about as fast as they can. BT's leaseback agreement with Telereal Trillium states that BT has the option to purchase the reversionary interest from Telereal, at the end of 30 years for the specialised estate (buildings of an operational nature, such as telephone exchanges) at open market value. Exchanges come under the "specialised estate" category and reversionary interest likely refers to the remaining Freehold interest.

Over the next 6 years I expect BT to empty the Exchanges that are no longer required with a large reduction in the specialised Estate post 2031. That doesn't mean BT wont be able to make massive savings on power and other building related costs in the meantime. I expect by 2031 the operational network changes will have been completed and the bulk of the redundant Exchanges will go off BT's books.

BT's a no brainer with massive cost savings in the pipeline due to convergence, job reductions, building closures and the move to FTTP. BT has the scale and infrastructure others can only dream of. I'm invested in both BT and Vodafone for different reasons, they're both undervalued. Vodafone is about their international assets, not Vodafone UK who heavily use other providers networks to supply service.

Should BT come under threat from competition they have the firepower to undercut all the other CP's. The only thing holding BT back from competing on price, is OFCOM requiring notification of any pricing changes and deciding to give permission. Equinox is a good example of what I'm talking about.

"NVIDIA CEO Jensen Huang’s prediction that “very useful” quantum computers are likely 20 years away has been linked to a sharp drop in quantum computing stocks, with companies like IonQ and Rigetti experiencing significant after-hours losses"

https://thequantuminsider.com/2025/01/08/nvidia-ceos-predictions-rain-on-quantum-stock-parade/

Savage what is the point of your post? It may go below 130p, it may go up over £2, it's pointless jumping in now and again with some sort of commentary around what might happen.

"think we can honestly say that QBT's next RNS could be absolutely perfectly timed"

If it's like previous RNS's it'll just update that research and testing is progressing, basically more can kicking.

Based on Total Voting rights

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

Can anyone really see them appealing this? They've already spent a fortune litigating this, would they risk spending even more on high priced lawyers when they'll likely lose again. Something to bear in mind is the amount of time the CAT took in reaching this decision, they spent a lot of time considering the verdict.

That's rich coming from the resident Fool 🤡

Fiberclod we all have different investment strategies. You're correct that my investment choices have performed miserably on paper, but we make our choices and then play the hand we're dealt. As I said previously, we've taken advantage of price drops to increase our holdings over many years, including with new capital during Covid; As a result we've accumulated reasonably large holding's paying a good dividend income, and bear in mind that pulling in £25,000 a year tax free eats into our paper losses at a rapid rate.

It's true that earlier this year we decided we'd accumulated enough stock and made a decision to take the income rather than reinvesting, mainly because we want to make some serious home improvements and build a larger cash buffer. Just because our chosen stocks are underperforming now doesn't mean they'll be underperforming in years to come. Although VOD have reduced their dividend, BT have just increased theirs and Lloyds have been increasing their dividend year on year since the Covid cut.

"He ignores the effect of inflation on the shares he holds in BT and refuses, point blank, to admit he has lost a penny! Everything with him is futures"

Even if our holdings do nothing over the next 4 years, we'll still have pulled in over £100,000 in dividends over that period, so to suggest that it's all about futures is clearly wrong, your blinkered viewpoint/narrative completely ignores dividend returns. £25,000 a year tax free buys a lot of stuff and since you can't live on paper gains, from "Growth Stocks", you only see a capital return when you sell. With capital gains you only get a return once, when you sell, which is mainly related to timing, luck and when you buy/sell; Then you have to find another "Growth" winner to reinvest whatever you don't spend on life stuff. As far as this inflation narrative that people like to bash Dividend paying stocks with, the same applies to any investment, even Growth Stocks and especially cash.

Sure dividends can have a rocky ride and it doesn't always go the way I'd like, but the same applies to any investment.

If it had been anticipation of the FED lowering interest rates today, which is expected anyway, wouldn't it have also shown in the Index?

https://www.google.com/finance/quote/VOD:NASDAQ?comparison=INDEXNASDAQ%3A.IXIC%2CINDEXDJX%3A.DJI

Anyone know what prompted the jump?

https://www.google.com/finance/quote/VOD:NASDAQ

"Interesting you say that fleecy. What did you do for the two years when there was no dividend from BT?"

It's Fleccy Fibreclod.

We topped up at 105p and 112p, bringing our average cost per share down considerably. Sure there were no dividends during Covid, apart from Vodafone, but the dividends are supplemental since my pension easily covers our cost of living. As I said we're currently spending the dividends rather than reinvesting, as we've decided to spend on various home improvements and put the remainder into savings.

Our initial investment in BT was around £3, we've since brought the average cost per share down to £1.88 and are sitting on a paper loss of £36,956.49, no doubt that'll cheer you up? We're also showing a paper loss on Vodafone, but we're up on our largest holding which is Lloyds.

We're bringing in £25,000 a year in dividends which is all I really care about, since we have no plans to sell and I view paper losses as merely noise. Sure we could lose out big time if any of our holdings go bust, but I'd put the chance of that as extremely low.

Just to add, during Covid our paper losses were double where they are currently, so prices go up and down as do paper losses and paper gains. Just because the market's have decided to to hammer the Telecom sector over the last number of years, it doesn't mean that'll always be the case. In the meantime we'll keep collecting the dividends and use them to fund our lifestyle.