Member Info for Impecunious2

Hi, Drover.

The evidence is mixed on this. Wikipedia hesitates between the two (see link below). I think, if one specifies "oldest merchant bank" (as I did), Berenberg wins. Whether this is the reason Gervaise chose them to be our broker, I really wouldn't know; probably not.

https://en.wikipedia.org/wiki/List_of_oldest_banks_in_continuous_operation

Hi, everyone.

I think we should take the trouble (as Tom has done) to spell Berenberg correctly. They are the oldest merchant bank in Europe, founded in Hamburg in 1590; at first, they traded in cloth, grain, spices etc; and then got into banking in the late 17th c. Link to their website below, which includes a lot of info on the company history.

https://www.berenberg.de/en/corporate-history

Hi, SoS @19.22.

Something I thought was odd about Gervaise's demeanour was his lack of eye contact with the audience, i.e. the camera. I'm not sure what to make of it; but it reminded me of a hostage video, as if he was forced to lie, or had suffered some terrible defeat. Contrast this with SD, who looked directly (victoriously) into camera. But I'm probably over-interpreting, or misinterpreting. Let's hope so, anyhow.

Good to see his doom and gloom lifting the share price again.

Hi, TomE @ 12.53. Ditto, since Dec 2018, and before that, 2011 to 2017.

Further progress in the share price obviously depends on the box cut and decline being carried out on schedule, and on drilling results at Havieron, the Juri joint venture and Scallywag and Rudall.

But it also depends on the actions and (to a lesser extent) the words of the new CEO. It's going to be difficult for him to equal or surpass Gervaise. His decisions have to be faultless, and he needs to show that he really cares for the interests of the shareholders. The five million options that he is to be given in February should help to align his interests with our own; but I would feel happier if he bought a few million shares with his own money (which I assume he can afford to do).

Hi, Oilmonkey @10.08. I've done some research on this, and apparently it's a short version of PMT, which investors suffer from when they have to wait a long time for drilling results.

Hi, Zoros. I've read Trucky's post. The last "there" should be "their" (as you say); but the three previous ones should be "they're" (i.e. they are). As you can probably tell, I was an English teacher once.

Hi, Evan

If you are investing for income, I recommend Shires Investment Trust (part of the Aberdeen empire), presently yielding 5.5%, distributed quarterly (Jan, Apr, Jul and Oct). The only disadvantage with this is that the spread is quite wide, perhaps 2%; and I think it may be difficult to move in and out with large amounts.

https://www.shiresincome.co.uk/

If you want a FTSE100 tracker, with some income, use the Black Rock ishares one, "isf". No stamp duty, wafer-thin spread, and presently yielding about 3.5%, distributed quarterly. Also, very good for trading in and out in large amounts, if you wish to do that.

https://www.ishares.com/uk/individual/en/literature/fact-sheet/isf-ishares-core-ftse-100-ucits-etf-fund-fact-sheet-en-gb.pdf

Here's a link to Société Générale's estimate of the risk of investing in Colombia. I was pleasantly surprised by what I read.

https://import-export.societegenerale.fr/en/country/colombia/country-risk-in-investment?url_de_la_page=%2Ffr%2Ffiche-pays%2Fcolombie%2Fle-risque-pays-investissement&

Hi, Badger. The best thing to do is to hit neither the sell nor the cancel button; keep the cursor well away from both, at the top right hand corner of the screen; the order then expires automatically at the end of ten seconds. But I agree with you, dummy trades are risky, particularly if one's drunk.

Hi, Monty, cont'd. Or $36 in 1970 to $700 in 1980, if we want to take the whole decade.

Hi, Monty. I'm not so sure about this. One has to look at real interest rates, not nominal ones. There was a time in the '70's when interest rates were high (14%), but inflation was higher (above 20%). Gold moved from $120 in 1976 to $700 in 1980.

Hi, Keithie. Congrats. Don't crash it.

Hi, Allstar. I'm sorry if you thought I was bragging. I can produce a long list of losses to compensate: Metal Tiger wiped out 60% of my capital in 2018, GGP itself was a colossal failure from 2011 until the arrival of Gervaise H, then there was some horror show with Red Rock Resources, not to mention what went wrong with Man Group (which fell out of the FTSE 100). But let us not be downhearted; it's the rough and tumble of daily life.

Hi, Allstar. I put all my capital into GGP in December 2018. Didn't do me any harm. It's still there, by the way.

I hope our friend Jimmyjesus is now feeling more cheerful.

Hi, Enrico @11.07. No, I'm hanging on to my username, even if I reach seven figures (which hasn't happened yet, but may do soon). I'm sentimentally attached to it, and sentiment's important in life.

Hi, Jet and Enrico. I don't know whether this interests you, but here's a link to the first French/English, English/French dictionary, compiled by Guy Miège in 1677. I like browsing in it, because it contains some lovely antique expressions in both languages.
https://quod.lib.umich.edu/e/eebo2/A50820.0001.001/1:5.1.2?rgn=div3;view=fulltext

Hi, Joe. Yes, I'm one of the guilty ones, who said he would sell on the departure of Gervaise. But I've not done so. I was listening to the Today programme, and by the time I'd realised what was happening, the share price was down 8%, which acted as a powerful deterrent to selling. So I'm holding, and hoping that this new man is (a) as competent, and (b) as honest, as Gervaise.