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Pat, of course I agree, financial services will not flourish.
But that's in the case of no-deal and no-agreement/mutual understanding.
I think we need to get brexit done and dusted, break up. Then, come back to the table with specific areas that both benefit EU and UK.
So instead of an all-encompassing deal, I believe we'll see the EU and UK work out (not this week, but possibly in a few months), terms for specific industries.
Market is showing Brexit not a big factor, even die-hard remainers are now over the whole deal thing.
No deal IMO, but a mutual agreement on several key aspects will happen.
And no, no dive Pat.
Maybe metro sees -10 or -15% day, but that's about it.
Remember the trump Biden phase. Markets were weary of a Biden win, but certainty is what the market wants. And we boomed.
Deal or no deal will give certainty and might be short term pain and dip but no worries for long term. Dan said very clearly metro much less exposed to no deal than other banks.
Office
Not a remoaner as could care less about Brexit impact personally has zero effect as not living full-time in Britain anymore.
I believe the people have voted, and the vote must be respected, whether for or against Brexit.
A no-deal is not good, there is just no way of spinning it.
People - and the lower-earners in particular - will suffer and pay the price.
Poverty will rise. Austerity.
Brexit was a beautiful dream sold very successfully to the masses in a way that borders what other industries - outside of politics - would call fraud. Fake statistics, made-up fears, impossible (literally impossible) promises.
Anyhoo, back to metro.
Let the Brits suffer from a hard brexit. Let them squeal.
And let them come back begging for a deal a few months later when they realize the financial austerity it causes.
Seems like a plausible strategy from the EU.
Theo
I do enjoy our recent exchanged much more than in Q1-Q3.
All the cogs matter when building a Patek of course.
But Odey doesn't control the bank and where metro is going, Dan does.
Odey played it very smart and made a ton of money over the last 18 months, props to him.
But one must also recognize that obsessing over 1 short position is a very micro approach to what is going on in the market over the last 4-8 weeks.
Ultimately, Odey has zero control over where metro is going.
Big week coming up.
BoE news can drop any day.
Brexit can drop any day.
Event rumors.
More short reductions.
Expecting a nice rise by Friday.
Would not want to be short here with game-changing events due in coming days/weeks.
Good luck to all genuine holders!
Good to see you here Captain Smoke.
I think people tend to forget there are some very powerful holders here at metro. Too many get caught up in the daily share price fluctuations. Instis and big holders don't care much about the 20-30% dips or highs. They want the 300-1000% return on their millions.
" Sorry to be voice of reason but the price has rallied for two weeks largely off twitter traders drumming up interest, most of which have probably sold/selling."
LOL are you serious?
Have you looked at and studied the volume?
Cheers Greg
200p would be a steal here.
Looking for 400p-500p by end 2021 with good news out such as FCA MREL BOE and a couple quarters of growth.
Big volume recently, bond rise and share price rise tel the story.
This is not retail buying.
Big boys and institutions are playing here. Accumulation IMO.