Member Info for m007j

Furthermore, I urge everyone following the CBG story to read this legal opinion ahead of the FCA redress scheme being announced in the coming weeks:

https://www.stephensonharwood.com/insights/the-fca-s-proposed-motor-finance-redress-scheme/

Hopefully it will calm some of the histerics.

This is not the first time Viceroy have targeted a bank and look how that ended:

https://www.writersroom.co.za/fsca-hits-viceroy-with-r50m-penalty-for-false-misleading-statements-on-capitec/

While various characters on this messaging board have been busy bleating about management and Viceroy and the general injustice of it all and the injustice of the world in general I imagine knot has been busy adding to his CBG stake.

Https://www.investegate.co.uk/announcement/rns/close-brothers-group--cbg/statement-regarding-report-from-viceroy-research/9476668

For context, the price of CBG's Perps fell today from 108 to 107 on the back of the Viceroy report. Those are the next most risky securities in the CBG capital stack after the shares. Clearly the professional investors are not very concerned by the Viceroy report.

NiharRoy I am 100% convinced that management will issue a statement tomorrow at 7am

According to FCA, banks like CBG, Lloyds, First Rand etc will carry 51% of the cost of the entire £11bln redress scheme which is £5.5bln. Viceroy reckons CBG will have to pay as much as £1.2bln of this £5.5bln or 22%. This is despite the fact CBG by Viceroy's own admission accounts for less than 3% of motor finance lending. Viceroy are talking utter nonsese.

Stock getting drilled again. Is there another profit warning on the way?

It is below 70p now. Brutal. Something seems off. Surely it will rally soon. Or is this another S4 Capital?

Firepower1 - back on the messaging board after an early morning drop off at the airport in this minicab.

No I guess you are not a hedge fund manager firepower1 but more probably a minicab driver with 4 GCSEs.....although you do have a hedge in your front garden which is as close to a hedge fund as you will ever get

Firepower1 you sound like you really know your stuff. Is it true that you are a professional investor and have your own hedge fund and make millions from investing in stocks and shares?

Richard Griffiths just keeps buying RWS stock. His stake is now up at 13.1% and is worth £40m at today's share price. That is a big investment. He must be very bullish.

SG0912, this CBG share price fall is purely driven by the drama over Iran. CBG is a stock that can easily be pushed around given the FCA drama hanging over it. It is very unfortunate that the Iran issue and the result from the FCA coincide adding to the stress faced by those with a more nervous disposition. As Liberty2 points out those will a long-term view can phase out and wait. The problem with taking a long-term view is that it takes a rare temperament who can zone out and not be impacted by a share price drop from 550p to nearly 400p despite the fact that nothing has really changed apart from the share price.

What I love is how the hedge fund who are short are able to close their positions and yet while they are doing that the share price keeps falling. Amazing. You would have thought closing a short position drives the price higher. I guess the share will only going higher once all the shorts have close their positions.

Why would the business cycle matter to a bus company? Surely it is the cheapest form of transport out there. Are people going to decide to walk to save on a bus fare? Mobico is an infrastructure type asset. In fact, Mobico's rival Stagecoach was takenover by an infrastructure fund a couple of years ago.

Today's statement from the FCA is totally bizarre.

What is going on, this stock just keeps falling. When will it stop?

Knot, surely surely one of the many lawyers at the FCA will point out that the scheme they are proposing is very likely to be illegal. I just do not understand why the FCA would go ahead with a scheme that is very likely to be judged illegal. It makes no sense and is likely to lead to someone (probably the head of the FCA) getting fired. Why would they do that. Surely it makes far more sense for them to say that after extensive consultation with the industry, consumer groups and legal advisers the FCA has decided that against launching a compensatoin scheme because it has not been possible to design a scheme that would not be in danger of being found to be illegal.

What is that statement from the FCA all about? Can somebody please tell me. They might go ahead with the scheme but they may not. Are the FCA getting cold feet?