Member Info for luddite

Yes I have read the IAG balance sheet, not just recently but every year and worse I have a fileing cabinet with every annual report of IAG and BA since they were floated , every inhouse magazine, every shareholder communication , its getting full but I am a natural hoarder. I read every snippet of news , get alerts from seeking alpha on articles , read all the CFD provider guff etc etc. I do this not because I like IAG or its management and I have never worked for them but its become my best money tree. I have traded IAG in a range of around 62p I think the part paid shares were up to over £7 and every range in between. You said in your post ' suddenly their cash position is gone' , cash is 'suddenly gone' on AIM shares or more likely it was never there in the first place but I am as sure as I can be that IAG have the cash . I have personal experience of having to cut costs in a company many times the size of IAG , it can be done . The first thing I would do is fire quite a few of the directors as some of them are useless , yes they may have long term contracts but this should be done first before laying off staff, there are of course costs to lay staff off but it has to be done. Anyway Mr Bored are you trading IAG or a shareholder ?

Mr bored , revenue is not a cost, if its not there in the first place its not wiped out loss of revenue will not wipe out its cash. IAG can control its costs, they can lay off staff , they can ground planes but the most important need is to discuss with creditors now when the balance sheet is in a strong position, keeping it that way and cutting cashburn is critical so I want to see some very strong measures taken early on to preserve cash. Creditors do not want to be lumbered with a fleet of aircraft or assets they cannot get rid of which if it came to that stage they would have to sell off for a fraction of book value, they would much prefer to see that they will eventually get paid.

sorry for my ramble boselecta but I feel putting stuff on a public wesbite helps clarify my thoughts but I agree with you on the dividend, I would be very surprised if it is not cut. What I would like to see is IAG top management working for free for as long as they lay off staff . I am generally against share buybacks, all the money they spent on this is now gone but its not just IAG most US companies have wasted billions on buybacks over the years to help management get bonuses.

ph125 you are on the right lines, problem is timing the bottom but for its worth I have always found it easier to buy on the way down than when it starts rising again , I have no doubt we will see IAG over £5 within 12 months, at the moment I am not as optomistic that the world will recover by August, in the meantime there is plenty of volatility and if you bought at 234.70 you could already bank 2% profit by hitting the sell button.

Mr moniman, you would be wrong that the chinese are responsible for crashing the economy and really has it crashed. I have been gambling on the stock market for donkeys years ( around 1983 to be approximate) and ten years before that just before the arab oil emabargo around 1973 I got one of my first jobs which did not last very long selling unit trusts and I still carry the guilt of persuading punters to buy shortly before everything absolutely tanked and they lost the lot. When the dow was first tickling 20000 years ago I was amazed when it went over that , all that has happened so far is that the whole market has got back to a level which has trashed a lot of the QE and share buy backs that happened to push the Dow to 30000. The virus triggered the drop but where we are today the economy is not yet trashed although it is ironic that it has been the greatest polluter that has triggered an air clear up that Ms Thumberg and extinct ******* liberal luvvies could not achieve in a million years. On the plus side no one is talking about how many people will not die because air pollution is becoming less, the media just want bad news so they can scaremonger.

wow Mr moniman , you are the same as surrycarrie posting the same daft comments on ten different shares, I expect you are bored with your x box or whatever it is you normally do to while away your time ?

SuryCarrie, its all very well your opinions and I dont mind people spouting them as I do mine but have you any actual punts or investments in anything at all ? I have lost a lot personally and got this wrong by not selling quite a large lot when it was at £4.50 but I trade it also and also short occassionally which I did not do on this fall. You are wrong that IG is in a bad place, its financially in a better place than most of its competitors and the historical PE of 3 or 4 does price in a lot of market strife and always has done, it needs a bail out less than any competitor but I am sure if something was offered it should be considered. I looked at some of your posts and you seem to almost cut and paste the same script on quite a few different shares, I could take your views more seriously if you had any record of getting your predictions right but I can't find any. People enjoy flying and business travel is for many travellers also a pleasure, I very much doubt you are right about everyone managing without travelling , maybe its something you have never done, take it from me its good fun. IAG will probably be around a lot longer than either of us.

I also disagree with you on the 3rd runway, the fat lady has not sung on that one.

I was reffering to an index I get from a CFD provider, its the one I use as I do most of my gambling in £ , the actual CBOE VIX you are right it is over 66 which at this level is worth shorting but both of these move in tandem th CFD companies are just not allowed to call it the VIX, anything over 25 is good for me on either. I also have IAG holdings bought recently over £4 and £5 on which I am making a loss but will hold and also quite a lot which I bought at less than £1 but overall its the ones I actively trade that have for the past ten years made the most money and IAG is probably the best FTSE100 share for trading. IAG still holding at 369 so not enough range for me to trade again, for the time being .

Don't feel sorry for me , I bought at 325 this morning and sold at 363, I am reading a lot of nonsense on here mainly by people who have no chips on the table and are just watching the game, go on have a dabble you might get lucky, on the other hand if you are of a nervous disposition it may not be for you. Even the elephantine BP went up over 5% this morning over the same period from 9.10 to 10,30 so lots of opportunity these days. IAG is on the way down again but what matters is the volatility and with the VIX at 47 things could just not be better so no doubt plenty more ups and downs.

SurreyCarrie, You are wrong on all counts but I will pick up on only one point, business travel is a very much enjoyed jolly for many executives and that will not change. When 'executives' as you call them have climbed the greasy pole in the main they are deciding themselves on their need for meetings and business travel they mainly do not 'get sent'. I know this because I did the jollying for about thirty years and very much enjoyed it, I can now afford to pay for it myself and no longer need an expense account but if you think business travel will stop you are dreaming. IAG is absolutely the best trading share on the LSE, what you should be doing is shorting it if you believe the price will drop , have you or are you just commenting ? I go long and then sometimes short on IAG the same day, I can only take peoples comments seriously that have skin in game and are either punters like myself or long term holders, everyone else whilst they may make amusing comments on here which helps alleviate the boredom of watching the candlesticks all day are normally wrong.

There is no such thing as an ethical company, I learned the hard way over 40 years of punting on the stock market and still I get caught out by ethical companies like the Coop the bastion of ethical banking, then they showed their true colours and if it were not for a very unethical US hedge fund with help from a UK investor I would have lost a lot more than I did, all companies you invest in should be treated with contempt, you should be treat them all with distrust, that way you have a better chance of making money from them. I already cut my losses on Sirius, I have not done the final reckoning on them yet as I traded it a lot over the years but I estimate I made an overall loss despite banking some good profits occasionlly.

I went down the IG shares list this morning, RR is the only one of any consequence showing blue, I will be looking to buy more at around this price but will wait to see what happens to the overall market next week.

Looks like FTSE100 will open 3 to 4 % down again so results do not matter much as all airlines will be marked down again , expecting another 5 to 10% off airlines.

517 limits tiggered with 6 minutes to close, good job I am not of a nervous disposition.

Heathrow 3 decision was around no 4 or 5 lowest on my own list of risk factors for IAG and todays news hardly any component of the share price drop compared to the virus scaremongering but nonetheless anything that gives us volalility in the price I welcolm wether it moves the price up or down. I am in no doubt the corona risk will be well overdone and will present a great buying opportunity and within a short enough period of time will drop down my risk list to to no 5 or 6 and become irrelevant. IAG remains my absolute favourite share, tight spread, big enough market cap, easy traded , no stamp duy . Somone previously mentioned we will see £7 again, no doubt about that its just a matter of when, maybe not 2020 but for sure sometime in 2021 but in the meantime the daily ups and downs are very tradeable. I took a small punt at 512 and hopeing for 517 if the US markets lifts a little today.

yes now it seems to have taken off againjust now

................ and 30 minutes after market open the main players have digested the numbers and the price is about the same as yesterday give or take its normal volatility so I take it the numbers although down beat market expectations.

Is seven years long term enough ? If I were sensible I would have sold months ago, I do not see any glimmer of hope for SXX shareholders, I have experienced dozens of my share punts going bust or being diluted to nothing. I expect that CF having failed to raise the finance will now have to accept almost any deal thats offered which means existing shareholders get almost fully diluted so their shares will become worthless. SXX was one of my very few long term holdings, I mainly sell shares when they look like they have ramped up a worthwhile amount then buy them back again when they inevitably drop back, this long term buy and hold nonsense is something heaped on us by fund managers and those with vested interests, and for many years I fell for it myself, the only person it has worked for is Warren Buffet and even he seems to have stalled this past two years as BRK morphs into a proxy for the SP500.

Stop loss works in a normal market so if the share price moves slowly enough the stop loss will work but when a share is gapping down it does not work, there is no price slope its a step down to the new level with no time in between. Some brokers offer a guaranteed stop loss for which they have an extra charge, sorry to read that you may have put too many eggs in one basket, none of us including me can complain as all the information to make a decision to sell in good time has been there since the funding arrangements were first published. I read it all again and I wonder why I did not act in time after all there was plenty of time, its just human nature I suppose but it should make us all the more cynical of resource companies and the paid promoters, I would like to see the Mark Twain gold mine quote tattooed on the foreheads of some of these guilty people.

Shorting any company is legitimate and absolutely nothing wrong morally doing it. I would have been shorting this but have other fish in the frying pan at the moment but will have a go if the price blips up . I have no problems or bad feelings against anyone shorting any company in which I am long such as IAG etc and when the cycle is right I will short them myself and then go long again. Sitting on shares forever worked for Buffet and the investing industry wants us all to swallow this lie so they can make more profit but for the small investor its just the wrong way. Muddy Waters will get what is coming to them and that in my opinion is a very fat profit.