Member Info for FrankyS1971

Methinks 99% of folk here might be gamblers/traders kidding themselves they are investors. If you invest its with the long term in mind and this stock you d only 'invest' in LT if you were mad. Off to Gamcare with the lot of ya.

What...you mean the bank which has a strategy to expand and scale up with no cash and won t make any profit in the foreseeable future?? The bank that's dropped from 40 quid to 2 but absolutely never ever could hit £1??? Toot toot.

No idea with dividend.. bit frustrating! We will need to have patience here and could be a good 12-18 months to see barrick in a strong place. Early days still for gold

All aboard the £1 Express.. toot toot...tickets please..

I have every clue because I know how Odey and Marshall Wace operate. They will tear you a new one before this recovers.

Exactly...odey will tear you lot a new a hole. Suck in the next lot and then crush you down..then let the price take a bounce...rinse and repeat. The chairman going is not Odey going oh...good..as an activist my work here is done. NOT. He won t stop until he buys up a significant stake on the cheap at your expense and then he will demand the bank be broke up. He ll likely make x2 or x3 his money and you ll be lucky to get half yours back. That's how it will work and anyone doubting it is just a naive sap.

1.70??? Errrrm think again. Try 1.00

Hi super..I think that will be the last blip for gold..they tested the bottom and their was big support. Manufacturing in US is really poor and another rate cut now a racing cert. 1600 b4 year end. Much still depends on trade but I have feeling it won t get fixed.

Hi Dude,
First up, I am really sorry for you and anyone else who is sat on a distressing loss here. Its a terrible feeling and there aren't many words of consolation I can offer.
I am not here to rub salt and have no agenda other than support having been in this boat before. Its a warning as much as anything about Crispin Odey and Marshall Wace, who work in tandem shorting certain stocks and the pattern regardless of stock is always the same. The price marches down, day after day as they screw the price into the ground beyond any expectations. This is to shake the vulnerable holders out. Next up, they take the gas off the pedal and there is a march back up which usually seems to last for up to a week. This rally is a physcoligical ploy to feed holders with hope as they then screw it back down and shake the tree again. Its an utterly depressing rhythm and they are totally expert at waging warfare on the small holders. The good news is that he will be doing this as an activist to a) force management into action b) make money. The very best advice I can offer is to sell when their are 30-40 p jumps like what we had and just sit tight as they will screw it back down again. You might fear being on a paper loss but I wish in hindsight I have been buying and selling more actively on a stock they played this game with as I would have got my money back and more! If you just hold indefinitely thinking you'll get 4-5£ you might be dissapointed.

The shorts tracker says otherwise. Those declaring at above 0.50 positions are now at near 10%! This is very high and has been increased, so until that number drops significantly, it will keep going down. Odey/Marshall Wace as activists are clearly trying to force the board into a sale or some major corporate action and he usually wins. As I learned painfully in another investment. When the shorters close their positions it will recover somewhat, but the bottom is a distance away. Mgt are scrambling to work out what the hell to do and are on borrowed time as they are out of their depth.

Early October I believe..Hl hold my shares in barrick now so yours should be by v soon i d have thought..lots of global tensions and can t see things being settled enough to see big drop in gold. Trump witch hunt will intensify and china will stall on talks til new president. I believe they will try and spoof him to look bad at home. Far from over IMO.

Special dividend landing soon!

Makes sense..certainly this is about credibility and a solid plan. If a bank has neither it will be cursed by the city. So new management needed but still cant help thinking there is more bad news buried in here. What else has existing mgt been up to!?! Keep an eye on the shorts tracker as until its reduced this will go down much further.

Makes sense..certainly this is about credibility and a solid plan. If a bank has neither it will be cursed by the city. So new management needed but still cant help thinking there is more bad news buried in here. What else has existing mgt been up to!?! Need to wait until FCA finish their probe.

Does anyone have a view on what might happen if say the economic outlook worsens and what that means for the quality of the debt book ? Not sure how lower interest rates might affect the business, but assume they will be making less on lower margins? Perhaps the current position is not the issue here, but the risk of a deteriorating outlook...

It is gross naivety to believe this will land well. I got panned for telling people to avoid this weeks ago and assume I'll be declared x y and z by those who want to remain in their cotton wool cocoon. The harsh reality is that the bank is in serious trouble and the details of which will eventually emerge piece meal after the event. It'll all feel very unfair. There is an absolute zero chance that the GOT will bail out this bank after what happened in 2008 and the political sensitivities involved and any reinvestment that happens will be done at a huge dilution for existing shareholder. Take what you can and get out or just bury your head in the sand or worse keep trying to catch a falling knife.

The Shorters increased their position last week so funny how they seem to know these things! Sadly, the shorters drive the price down in the absence of buyers. It will keep going down until the balance changes and I can't see anyone buying this share until stuff gets sorted out. Every bounce is to sucker in basement buyers before the next step down, as per last week. FCA investigating, ...they will now have to raise more expensive way to borrow, selling assets, there's been a mini-run on the bank..and we're not even in a recession!!! Sorry but I wouldn't touch these with a barge pole as there will be more bad news as it always comes in runs. As an "investor" I'm sure you'll be happy to hold for 3-4 years for this to recover. Truth is you all jumped in hoping to make a quick buck. When it goes wrong everyone plays the "I'm an investor for the long-term" card. Not grandstanding just saying that when Odey and the likes start shorting and in this case, raising their shorts, get the hell out and take a hit. You can always come back in later!!!

You are absolutely correct Good2bh!!!

Thomas Cook - Loss making business with no new investors ever. Versus. Sirius - Loss making business with no new investors yet. Problem is that existing shareholders will be wiped out as part of any new investment deal. No one is going to come along and bail out the shareholders when they can issue new paper and dilute you into the ground for close to zero.

Reading these posts is a horrible reminder of my past.

I don't have money in Sirius and have no motive. All I know is that, if there is a way of clearing out the small shareholders as part of a JV or investment, then it will happen. There are ruthless people out there and the number one aim will be to stiff you all entirely, so make no mistake.

You might think holding is a great idea but I rarely if ever have seen something like this come good from my own bitter experience. If you still have a few grand in this, its better than no grand and given time, things will be maneouvered into place to stiff you all.

Guys as someone who has lost enough in the past with some bad investments I can only advise this. Don t get caught up in too much analysis because whatever the worst case scenario is, that is the one that will transpire. People with money and power will screw shareholders into the ground and tear management a new as/#hole. I have barely ever seen a good outcome from this narrative and as hard as it is, take some money rather than none.