Member Info for LWHL

Yep. Sensible move by Apollo. If the results are bad, they can walk away. Results in line or better, the deal looks likely to be ratified by the company. Might see some new prospective buyers come out though if results are solid/good, so that is the only risk I can see for Apollo here and only potential upside for WG shareholders (beyond the fairly slight premium to the price at the time of print).
Did not get the chance to buy sub 200p the other day. Still tempted to, if the opportunity presents itself before results day. IMO WG BOD would not have consented to this request unless they were pretty much happy to proceed with a sale, so it is all about those results now.

Nevertheless, good to see some inside buying just now. I am sure June bought a lot more in the past (cannot remember the specifics now, but remember at the time being impressed with the amount in the RNS) - but not pocket money either.

I agree that sometimes there is a fundamental disconnect between a company's share price and the intrinsic value, which sometimes leads to significant profit potential, when the market 'wakes up' to this. However, more frequently, and IMO in the case of IG right now, if the SP is languishing, it is for sound reasons. In this example, the significantly overpriced acquisition of TT. Which many of us pointed out at the time. Also operating costs, which could - and should - be addressed. Especially when it seems we are essentially carrying the TT burden. Until or unless TT becomes the type of profitable operation that June obviously thought/thinks it would be, then cost savings need to be made. Operating costs can increase again if needed, once the balance sheet is bulging and if a business case demonstrates the justification for this. This was not a company in distress which she took over, in which case more latitude could be justified. She is well paid and IMO got a plum job with a proven cash machine. It has not moved forward under her leadership. At least not yet, IMO. I think the SP reflects such sentiments. But I am once again a shareholder here and want to see it achieve its potential. Which I think it can, in spite of these setbacks, which is why I came back. Ultimately, my fear is complacency setting in, lower standards embedding and long term damage to the outfit. Which is totally avoidable and would be unforgivable.

There are the 6's that I felt were nailed on. Took another baby tranche and may take a few more if/more likely when that 650-odd level is revisited. If that goes, IMO we are going way back to the 5's. And June's job should at that point be under threat, because that would be an appalling result, given what a sound cash machine she inherited when she took the top job. GLA.

I was scathing about how long they left interest rates at zero, or thereabouts, for over a decade. Felt even further distain for their continuation of this brainless approach following the madness of lockdown. However, the past cannot be undone and IMO now is the time for a pause in rate hikes, both here and in Europe and the US. I would like to see rates kept at current levels for at least another three months, to allow some more of the lagging effects of all those sudden hikes to be in view. Such a decision IMO would not see a sustained rally in the stock markets, nor a sudden surge in inflation. It would not ensure a soft landing, or any kind of magic solution to the many problems that we now cannot avoid. But I think it would be the least worst option available.

Zebbo: 40K paper loss, or sold? Given your following comments about previous market sell offs and staying calm (which I agree with FWIW), why would you take the hit now, unless you feared a total wipeout? It is a possibility, but IMO a very small one. Surely better to average down as and when hopefully things have calmed down. Be it a few days, a few weeks, or even a few months from now? Not saying it was the wrong call - it might be wise - but just curious.

Surprised that Lloyds is 'only' 4% down today, half our drop at the time of print. Dividend still in play is one reason perhaps. Prefer the wider global exposure here versus there personally, but market says I am wrong. I can see myself adding a few more at 130p and then a final tranche around a quid. Then perhaps a bag holder for a year or two :)

Those buy backs are giving this a bit of support. It's a shame they cannot instruct the broker to sell below a certain price, rather than presumably via a different method.

Goodness me, this chat board has taken an unexpected turn! Anyway, I have been pondering whether CS can be allowed to go the way of Lehman. I really cannot see that it can, without a similar macro result to the last time. Regardless, I would be amazed now if the rate hikes continued in Europe or the UK. A pause, rather than cuts, might be the compromise they settle on. Cuts = central bank credibility in question (for those few who have not already come to a conclusion on this topic long ago!)...continued rate hikes = 2008 on performance-enhancing drugs. IMO.

Whether you agree or not with the sentiment of FlyingHigher...you have to appreciate the sheer poetry of his words.

Pretty much :) Only a small amount, not like the amount I held previously and which was in an ISA wrapper. Although I still do not want to have to tax loss sell it, but it is nice to have the option. Hence in the trading account. I am basically gambling that the rich people need the banks to be propped up, whatever the wider cost. A few more can be allowed to die, but that BARC is not going to be one of them. IMO and goodness me, it would be nice to be right about this call :) GLA.

I did say CS was not out of the woods...nor the risk that contagion in the banking sector was contained. All that said and a decision that baffles me...I took a few here in the trading account. I must be losing my marbles :)

Always good to hear a wide range of differing opinions. It's what makes these chat boards enjoyable and informative. Part of my reason for rejoining as a shareholder is my belief that we are going to see an uptick in volatility (and therefore trading) in the months ahead. If this proves to be correct, it will hopefully offset some of the damage June has done here. Most of us seem to be, at best, underwhelmed with her performance thus far. I want to see some serious cost cutting if TT does not deliver material improvements in the next update. None of us have been fooled as to where things stand on that front right now. Just because (touch wood) the core business can probably continue to carry dead wood, does not mean it should. Failure to do so would mean that I would support the removal of June at that point. She and TT will have had long enough to deliver by then IMO.

Time for June to buy a big chunk on the open market. I repurchased a small tranche yesterday. Obviously would have been more sensible to wait. Even under her leadership, the business is sound, but that is not because of her, but in spite of her, IMO. Will wait to see 6's before taking another small tranche. Just a bit frustrated that this once fine cash machine is under-performing. Tick tock June! GLA.

Good to see CPI data did not come in hot. Would be surprised if that does not ensure the end of rate hikes (luckily for the banks). Should see a market rally now. For a bit. Well done to those who bought recently. 162p looks like first resistance. GLA.

I hope your comment ages well, triumph1, but IMO it is a little early to say that. Again, I want to see how the US fares later today. Plus we have CPI data and some other important material in the next week or so too. Agree regarding Schwab. Thought about taking a small position yesterday, but trying not to burn through too much of my dry powder, because I think we are by no means out of the woods yet. IMO, if they continue hiking rates, this will increase the pressure and risks on the banking sector. If they pause or pivot, good luck getting inflation under some semblance of control. All roads lead to hell. Some routes may be more scenic. Not saying we will not come out the other side eventually, because we almost certainly will, but not before several more significant events in the stock market and probably the bond market at some point too. Which many of you will be aware is not only about three times the size of the stock market, but also where the 'smart' money is. Anyway, enough ramping from me for one day! GLA.

Not PM miners, JayK :)

Yeah, but JPM is...JPM! And it is down more than 2% right now :) BARC is no First Republic, but it is also a million miles off being a JPM.

Thanks. Watching with interest still, but keeping my powder dry.

Have the buy backs started today?