Member Info for HALFMIST

Not a bad result since it had already provided £3.6 billion of it. As regards going bankrupt, only an individual can go bankrupt, a company cannot. Plus its reserves after provisions stand at over £50 billion so RBS can well afford it. What the market doesn't like about the company statement is, it still cannot say what the other case will cost, or whether the company will contest it

No offence taken. I do have a view, but no empirical evidence to back it up. I think we will see a hard Brexit as some of the other 27 countries will be out to punish us and to stop their own citizens wanting the same thing. From there it is how the Government react. Personally I think they will not do anything to make things worse, steady the ship etc. I think this will include a low interest environment as it will wish to encourage spending and consumption rather than saving. Also they will wish to maintain the feel good factor of rising or steady house prices fuelled by a low interest environment. If recessionary pressures begin we may see measures re work permits on those Europeans already here. Of course any decisions there will be as much political as economic. So an uncertain future ahead whatever the outcome from the negotiations.

Hi LennyMac.You sound like an Economics Lecturer marking one of my Economics essays!. The bottom line is nobody knows what the outcome from Brexit will be. We can all hypothesise about where we will end up but the truth is nobody knows

Good post with some very sensible points made. I am holding 170,000 shares at the moment with an exit price of £3.Not sure whether I will see it get to my target in the next 12 months. I suppose short term it will depend on how close to10 billion the US settlement will be. If is nearer 15billion I can see this share going below £2 certainly for a few months. I think the UK government will be reluctant to do anything with interest rates until Brexit issues settled. They will be wary of scaring off investment by Uk companies.

Sorry to hear it has not been the best of years old pal. I hope 2017 is better for you

Yes,and there was the other poster who said it would fall off a cliff and get out whilst we can. We all laughed at him at the time I often thought I should have listened to him when it was down at £1.70hehe. It is only 2p off my buy in price now. Then I need it to get back my losses in Barclays. I was going to switch back in to Barclays when I saw it catching RBS . Hopefully made the right decision staying put. Happy Xmas everyone.

The BBC are having a field day with it. They just need to role out Cable to give it a final kick in the ba**ocks. Where is it going to end. I thought not too bad on opening but now going true to form

Well done for getting out. I should have diluted but wife was too nervous for me risking any further amounts.

Nice to see your posts now and again. Yeah, I don't know what hurts the most, the loss I am sitting on or, the fact Barclays has recovered quicker. As long as it does not go bust .... I keep saying to myself.hehe

Yes my thoughts too Dior, it would be nice to get our money back. Ironically I was in Barclays but jumped ship in to RBS when Barclays announced its 3 year dividend cut in advance. If I had stayed in Barclays it hit my £2 target exit price today and I would have shown a£50k profit. As it is I am still showing a £100k loss on the switch. I think I am in for a long wait for my break even price of around £2.60 with RBS

Probably a bit of both. I don't gamble what I cannot afford to loose. And unlike gambling you decide when to sell. I have done very well over the years out of bank shares and they have funded the £1m+ house I now live in. If I lost the whole of my stake it would have no impact on my life other than to carry on working part time a little bit longer than I anticipated. The bubble was bound to burst at sometime and if it is now so be it. I can afford to wait for an upturn in RBS for at least the next 3 years.That said, once it gets back to my break even point i have learned my lesson and my days of stock market investing will be over.

I choose banks because the share price fluctuates wildly. I tend to invest large sums for very short periods. a 20p rise in the share price gives very big rewards when large numbers are involved and in the past it has often done this within weeks.It has worked very well in the past for me but not this time. I will hold tight and just hope it does not go bust in the meantime.

I have not posted for a while . It is good to see some of the old posters are still here. I am in at the moment having broken my golden rule about 6 months ago by swapping 250000 Barclays shares for 170000 RBS shares. I note today at one point they crossed and so went ouch! This is my first bad deal ever with bank shares after about 15 very successful ones and I am now down over £150k. I was so annoyed with Barclays at the time announcing their dividend policy for the next 3 years I decided to ditch them. I have moved house since my last posting from the hills of Staffordshire down to leafy Cheshire using past winnings to fund it so not all bad. In the old days I would have considered throwing more money in to bring down my average which is around £2.60 to break even but we live in uncertain times and my spare cash is sitting there waiting for building work I have committed to. I took out a large bet with the bookies the day before Brexit to hedge against any downfall but never in my wildest dreams did Ithink we would be back down at these levels. I will sit it out for the long term, keep working until it recovers ugh and just hope it does not go bust in the meantime.Keep smiling as I say to the Mrs.

Thanks Jings I think we will need it Particularly as Lady Boy is fit and playing. Me and the Mrs are off for a pre match drink Good to hear from you. I am in RBS at the moment after jumping ship from Barclays. Big mistake, but patience is the key. As long as they dont go bust on me I will ride it out. ATB

Yes, I will back up everyone else's comments. I know you have told us before you have not held RBS shares for a while but your contributions have been invaluable. Enjoy your "retirement " and please pop back in now and again. May be next time you post City will be European Champions

This site is very quiet recently. Where is jings. I have not seen one of his posts for a while. Hope he is OK

Hi Mailman. I think you have got it exactly right. Perhaps the Internet is partly to blame. The masses now have all the information they need from the computer. The wish list for many has got bigger, but the financial squeeze means that for many the wish list will remain exactly that. It is probably best summed up by the rise in house prices whereby your house earns more than you do,meaning it is impossible for many to get a foot on the ladder. It won't be long before life time mortgages are the norm meaning today's generation will never be free of debt.ATB

Just popping in and notice my name is mentioned. I purchased a new house with my past "winnings" and on the sale of my previous house used part of the proceeds to get back in to Barclays. I purchased 250000 at 1.86 so showing a big loss at the moment but I have been here before so not panicking (unlike the wife) Back to RBS and where has the cash gone. A Balance Sheet records the assets of a company and the balance on the other side is its liabilities and its shareholders funds. The sale proceeds of its assets will be used to pay off its liabilities. If they sell at a profit the shareholders funds will increase. If they sell at a loss which tends to happen when assets are sold on mass to reduce exposure it is the shareholders funds which take the hit. This is what has happened in RBS as reducing its exposure has come at a cost. Also a massive risk with banks is that liabilities must be paid back in full but it's assets may not be sold at full value. Because the figures are so high a 5% reduction in its asset values would wipe out all the shareholder funds but the liabilities still need to be met. Hence bank shares are not for the faint hearted