Member Info for Kev7722

Personally I'm undecided whether the timing of the announcement is good or not, but either way it will absolutely be intentional, and something they will have given a lot of thought to.

Either way, the message the SC (possibly more to the government) is clear - by giving ambulance chasers so much oxygen we are creating and environment in which it is becoming impossible for lenders to lend to private individuals, and the overall result will be a much less competitive market that ultimately harms consumers.

You what? 8 months ago they were in the 180s... a lot of people who bought in having weighed up the market reaction to the legal issues have already made bank

Any idea what just happened? News incoming!?

This is the second time we've seen a market overreaction recently to CBG essentially just treading water ahead of the verdict. No change from my perspective, other than that this is an opportunity to top up if people are actively trading CBG...

But when are we due a trading update from Chid?

Slightly different take but I'm impressed with how well the SP held up today given the significant downward pressure... especially on the run in to close. Feels a bit like the people short on CBG walked away with a bloodied nose and little to show for it...

To give Chid his dues, he has probably been sat at his screen hitting refresh on Lloyds every 5 minutes since about April 14th just so that he could paste his comment about a news leakage 🥴

As much as you seem to enjoy hating on Lloyds saying that they are the most exposed to the saga is just the usual gibberish... maybe they are more exposed in absolute terms, but that's a bit like saying Elon Musk is more exposed if I crash my Tesla into 2 others.

Patience - absolutely this! As grim as it sounds, two of the best 'recovery plays' I've ever made were into aviation stocks immediately post 9/11 and UK banking shares immediately post Brexit.

I say 'best' largely because I believed (and still do) that the risk was negligible long-term. The markets crashed because people trade on sentiment, but at a fundamental level once the dust had settled, people were still going to get on planes, and people were still going to bank.

For what it's worth, I don't think you've missed the boat personally... Obviously the ideal time to buy was 6 months ago when things looked much bleaker, but I still think there is a significant element of arbitrage in the current share price. That is to say that if the supreme Court upholds the ruling then CBG will probably reconfirm that the worst case scenario is more or less fully provided for, and there shouldn't be too much downwards pressure on the share price. Whereas even a partial overturning of the current verdict on appeal should result in a significant upwards movement... Something of a risk-free bet so to speak.

As much as I do sometimes trade volatility I'm with Liberty here... In fact the reason so many private investors lose a lot of money on the stock markets is because they become emotionally driven; often buying the peak and panic selling the drop.

For long-term Investments, the key is to do your due diligence, and then stay the course. The only times I really need to reevaluate my position is when I have new information to assess (either company specific, like surprising results or sector specific like changes in government policy for example). A lot of what happens on a day-to-day basis is just noise really.

Urgh - I sold a tranche at just under 295p based on the way that this has been trading recently... If it breaks £3 today I'm going to have to start job hunting again - ha

Rizzel - I know exactly how you feel, and I think 'infested' is exactly the right word to describe it. The thing that's outrageous for me is that they are essentially just scamming people by presenting the ads as though the 'compensation' is guaranteed, and worst case scenario for the law firms is that the entire case is thrown out and they have successfully harvested the personal data of millions of people.

SG - whilst I broadly agree with you, and believe that a lot of the judgement needs to be overturned on appeal, for the sake of the market in general (hence my long position here) I would definitely stop short of claiming the lenders and just victims of ambulance chasers.

For everyone's sake it's absolutely right that questions should be asked in specific circumstances, for example where buyers are pressured into taking out loans that they can't afford, or where the dealer intentionally deceives them into taking out loans on leas favourable terms in order to get get higher commissions... some of these practices have been happening and absolutely should be addressed.

My issue is with any blanket judgement, especially one that had massive indirect impacts across the wider sector, that is retrospectively applied, goes against what could be seen as any reasonable interpretation of the code at the time and is fundamentally punitive.

*exploded Chid - corn kernels explode to make popcorn... you're advocating for the wrong side as per usual. And going with the analogy for CBG purposes you don't even eat popcorn, so why are you constantly referring to it?

Normally I'd agree re. volatility, but I am conscious of the fact that we may see a ruling from the SC within the next couple of weeks - at which point the share price is likely to move significantly (in either direction) based on the outcome. If you are betting on a favourable outcome (as I am) then it may not be worth splitting hairs waiting for it to drop closer to £3 vs. the c. £3.13 you could pick them up for right now... just my opinion of course.

March 18th 10am:

"This is the market, so added 50,961 shares between 274-279. That sums up my opinion. All that happened is the provision was included into the accounts."

Stumpy - pretty sure he said he'd added over 50k shares on the back of the results, so that's possibly a bit unfair... day trading is certainly not for everyone

Assuming that they aren't exaggerating (and I have no reason to believe they would be), Knot is not just long but very heavily invested here

For me the only real disappointment in the results was the significant increase in expected legal and other associated costs... but they are still relatively small and time-constrained.

I was a bit disappointed with the results, as I said first thing, but as you say the lost revenue and booked provision were already common knowledge and should have been fully priced in.

This drop is far too severe IMO, and similar to others I've added more in the 270-280p range (although I am deeper in CBG than I'd like to be now for a balanced portfolio)