The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Good holding Jay...good luck also!!
All in it together Mousekewitz....one for all and all that stuff!!
maybe "Balls of Wood" as we couldn't afford steel just yet????
still 500k for me....if anyone has similar do you want to apply for application to the 1m plus list under a team name??? lol!
Sorry those ???? were supposed to be laughing emoji’s....guess the platform doesn’t like them lol!!
This could go on all night!!!! ??????
Mouse, sounds very similar to my journey recently!
Very glad of the recent developments, had I not bought back in after I panicked and sold I’d be kicking my self for the next year!
Keithlard - you do understand you can buy and sell when you want?
The fact I've been buying and selling in this stock for 2+ years doesn't mean I just bought and held from high to low but played the game of following the swings. I stated my average as others do, I'm not looking for brownie points just stating that currently that is my position.
I appreciate this chat room and I also appreciate when people explain if their statements are one of an actual investor in this stock or one from someone who has no interest of investing but just has a comment to make.
Very true acaciatan
Yes I’ve bought and sold amgo over the last few years, I actually think my first dabble was at over £1.27....how things change!
Not sure how everyone trades but I buy and sell a lot, sometimes hold for a long time sometimes only for a day. Each to their own.
Will be waiting for results tomorrow....like us all!
To be honest I’ve been invested in Amigo for a long time, had some profits and some losses over the last 2 years....almost quit the stock completely in Jan, I’m ashamed to say probably from listening to other peoples posts about what they thought they knew about this stock, but glad I didn’t.
The best advice I heard about investing was to learn to control your emotions....mainly greed and fear. Sadly it’s not an easy thing to do!
Your quite right HH,
I actually had 570k and sold almost all on 27th jan. price was rocketing down then. Bought them back the same day....guess everyone has a weak moment
500k...build up over a while
Been a roller coaster the last few days, for what’s it worth I expect not great news tomorrow and also don’t expect an update regarding starting to lend or the SOA or the and FCA decision on both.
The BOD is strong and there has been some encouraging buy ins from large players (now holding 10% I believe between them) not to mention other large PI’s here, that’s the reason I’m still holding. I’m averaged at 5.779p so looking good today but we’ll see what tomorrow brings.
Keep smiling everyone....
Guys n gals
Jimmy’s entitled to his view, if it fits with your thinking then great if it doesn’t then disagree (well agree to disagree if that works too)
The whole debate around the RNS and wording is completely semantic IMHO. The scheme will be approved or it will not be approved whether the FCA issue a non objection letter or not. If the FCA have issue with Amigo trading then that’s a different story.
Strange message from the FOS
“ We are currently considering what this means for complaints at the ombudsman service, but in the meantime we will continue to receive and process complaints in line with the FCA’s DISP rules.”
What it means is that is Amigo goes insolvent then the FOS will not be getting paid as I understand the RNS. If they don’t then they will be getting something but not their usual £650 fee per claim.
The FOS can keep taking claims and billing Amigo for this but ultimately if the scheme is not approved they will be like the rest of the customers and investors
For what it’s worth I topped up today also, is it a wise decision? Time will tell, massive upside here and obviously down side is there also. Just tipped over 500k shares now at 7.2p average so I’m not worried...yet....but def worth keeping an eye on for a while!
Complaints will keep coming in, true. The good news is that Amigo are focusing on the complaints and even reporting the CMC's that are making incorrect complaints to the FCA. Its a double edged sword, if you need a loan to pay your debts then why take another unaffordable loan to service the first.
Amigo are trying to address that with the regulators and figure out a way to lend responsibly. Good progress made with current complaints but many more to come, as I said before if your after a quick return then this is not the place for your investment. Long term 3-6 months IMHO is what were looking at here.
Havilland5 - Thats twice this morning I've been accused of making sense, I guess that coffee brand change was a good thing! Im curious tho, you seem quite negative about this stock but yet agree with my opinion (unless sarcastic). I see this as a possible good investment given the right governance and management. Long term views obviously but perhaps you might think that too?
TwistyMinkle - Lending before Christmas is a bad idea IMHO. Lockdown for most of the UK (depending where you are Scotland, Wales, NI have different rules). How could Amigo justify lending to people who might not be able to afford repayment for the next year given the uncertain times? I see the decision to not start re-lending till next year as a strong positive step to addressing the issues the FCA are looking at. If the client possible can't afford a loan then don't lend, seems simple enough and I believe that the board are implementing that thesis. IMHO
Serendipidity - Lol I know no place for calm rational thought....I'll bury my head till Jan now!
TdYorks - Cheers yes I got mine at just under 7p also....just before my platform paused market trading....assume due to strong price adjustments?