Or the 3400p back in 2001 (adjusted for stock consolidation).
The prof must of overseen one of the best value destructions for a still trading company in the history of the markets. I would love to meet the guy. Must be inspirational to talk to. I struggle to raise £50 for my business, and it makes a profit.
Of course we the consumer won;t see the negative price. I seem to remember Trump crying out for Saudi Opec to get pumping to bring the price down. Now he has a crumbling indistry on his hands. Careful what you wish for.
I will be going with BDEV and RDW too, just like the last time. Here we go again eh.
There will be predictions of big crashes, but this time I don't think housebuilders are so endebted. Remember back then they also had rubbish apartment schemes on the books to build out and sell off, that nobody wanted.
General market gloom will see them lower probably, but they are getting interesting now for a 5 year play.
I think I own that Toxic house in Sunderland. Certainly some in the NE, still underwater 14 years later.
I just paid too much, just like we have been doing with UK shares recently. We've been paying too much. They have been going up, just not VOD, so if you follow something like VOD, you think the whole market is like that.
Perhaps it is just a select few that are toxic, in that they tempt you in with safe status, but ultimately they are overpriced and events like this uncover them.
Cash out, watch it all drift downwards, then get into ones you know the value of.
There are good ones, and the prices are getting reasonable now, for long term gain.
Buy the company, not the share. Good management will always add value. Just pop over to LOOK, and you'll see the reverse playing out today.
RE: Already had FCA investigation and now FRAUD11 Mar 2020 09:28
Have a look at aerial shots of old RAF Bruntingthorpe. Acres of stored unsold cars. Even without dodgy management it was going to be a sticky time for car sellers. I think Lookers may be in some trouble now with self inflicted additional issues.
Break-up of the group maybe. Must be some value in the sites they own. Shareholders would get something, but going to be a stomach churner getting there.
RE: Risky bet bit of a falling knife14 Nov 2019 10:59
Yes it's not an investment. Trust in the company has evaporated, to the point where my first reaction to an insider being promoted to acting CFO is one of suspicion. Sad really for it makes a good product.
What happens if the 50% owner gets his assets frozen. I expect that worries the market. Used to be in but glad to be on the sidelines for now.