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As frustrating as it sometimes seems, there's a reason why we bought and hold the shares of this company.
It's been a long journey thus far, I'll grant you that.
But, look deeper than the current price, remember the team that has been built for their expertise in the positions they hold.
Let's hold it together and just remind ourselves now and again about what will be achieved here....
Very strange and unusual selling and buying today.
This morning 100 million plus buys with very little selling, and then in the afternoon 100 million plus sells and very little buys.....very strange indeed, but then again, this is Syme lol...
Interesting comment this morning on the Laura Kuenssberg show this morning, when the former head of John Lewis talked about how banks still have the traditional lines of funding being made available for SME's.
But critically mentioned how other forms of finance were also starting to become available.
Tenuous link to what Syme offers perhaps...
I think the problem lies with waiting for the Hornet to bite!
I mean, let's face it. You prod the nest and the whole swarm appears from every angle trying to sting you into submission.
Better to live side by side, ignoring, but respecting unequivocally that the Hornet will always be there, but only when you prod it, will it attack!
Couldn't agree more splatt.
Any potential problems ironed out at this stage can only bode well for the future.
Managed to copy.
The UKâs top financial regulator has warned that it will shut down payments companies offering bank-like services without banking licences unless they urgently fix problems that pose an âunacceptableâ risk to consumers and the wider system.
In a scathing letter to 291 chief executives on Thursday, Matthew Long, director of payments and digital assets at the Financial Conduct Authority, criticised payments companies for not adequately safeguarding clientsâ money or conducting anti-money laundering checks and for failures of governance.
Long said the watchdog welcomed âthe competition and innovation we have seen in the payments sector and the improved choice, convenience and value this can provide for customersâ, alluding to the explosion of groups such as Revolut since the UK introduced e-money licences in 2000.
But he warned that the FCA âremain[ed] concerned that many payments firms do not have sufficiently robust controls and that, as a result, some firms present an unacceptable risk of harm to their customers and to financial system integrityâ, adding that the cost of living crisis had exacerbated âthe risk of customer harmâ.
One person familiar with the matter said the regulatorâs concerns reflected its âlongtime prioritiesâ and were unrelated to the collapse last week of Silicon Valley Bank, which triggered broader fears about the fragility of financial institutions in the UK, Europe and the US.
Among the FCAâs criticisms of e-money groups â none of which it named â is a failure to comply with a requirement from 2020 to create plans that would allow for their orderly wind-down, or creating plans that were âoverly optimisticâ about how wind-downs would work.
Long also criticised âsignificant issues with governance, oversight and leadership in the portfolioâ of e-money companies. These included a âlack of appropriately knowledgeable and experienced personnelâ in vital areas such as compliance, and ârisk procedures and controls that are not comprehensive and proportionate to the nature, scale and complexity of the businessâ.
âOur work with firms over the past two years has identified material issues with financial crime systems and controls,â he said, stressing that payments groups were a âtarget for bad actorsâ because of their âability to provide bank-like services, willingness to service high-risk customers and weaknesses in some firmsâ systems and controlsâ.
Ordering companies to make a range of improvements, Long vowed to take âswift and assertive action to protect customers and ensure market integri
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Oh the irony..
https://www.ft.com/content/1fa1139c-faf7-4ce8-b0b9-f32f0d07da44
Interesting article which may go some way to explaining why the application may take a while longer than forecast.
Peak, middle of next quarter! Really.
If I'm honest, I'm struggling. I flipped a coin in my head to sell either syme, or gst and put all in with one or the other....right now it looks like I've chosen the wrong side of my mental coin...
It's totally understandable that PI,s are beginning to sell up, or would if it was worth it.
I'm going to hold and wait it out in the hope that this radio silence has been deemed necessary, but the fact of the matter is we, as PI,s have been pretty shoddily treated information wise.
We can only guess and surf for any scrap of evidence towards what is happening in the background, and have been left wide open to criticism from the derampers, who quite honestly have had a field day !
Good luck to all, let's hope it is worth it....
Thanks Divvy, bit of a minefield trying to understand what is actually happening. All we can do is hold strong and trust our judgement, and the research we, have done, plus the invaluable information from people such as yourself, Peakhope and of course Savvy. GLA