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This is being played. There’s no other explanation now. NC want to make a bid for GGP and there’s games going on in the background to make it as cheap as possible. The reserve increase just doesn’t match the drill results we’ve been seeing. It stinks.
You’ll not see a clearer statement of intent. GGP won’t be here in 2 years and the new CEO is being handsomely rewarded in options to oversee this process for the benefit of GGP shareholders..including Gervaise. Well done GH, you’ve played your cards exceptionally!
When the Juri JV was announced there was a great deal of trumpeting on here around GGP keeping scaliy for themselves and only agreeing to JV on less important assets. It strikes me that we may have missed something. Is it in fact that Newcrest wanted Juri more and that it Is the more promising target?
I agree, we have constraints. But those constraints stop us advising clients to invest in any number of failed AIM shares. GGP is one of the exceptions. Playing it safe is what the general population want to do. That’s the market we serve in terms of investment. That’s ok. There’s plenty of clients in that space.
Having said all of that, as a Fellow of the CII with 25 years experience, I’m fairly sure that an hour spent with many on this board would save them a fortune in tax with the right advice. It’s not just about providing mundane funds Joe Bloggs..
Of the top of my head I think the Cautious Index Mixed shares 20-60% produced 3.5% in 2020.
It’s not really the point.
I’m here because I have appetite for risk and I have a sizeable portfolio that is overweight in GGP. To advise 99.5% of clients to do the same would be totally inappropriate.
The only point I was making is that -40% to -50% is not the experience of 99.5 % of average investors using a financial adviser in 2020. It doesn’t mean they aren’t achieving what they require. The vast majority of people simply haven’t got the appetite for risk that it requires to invest the way every contributor to this board would.
My average client weighing in UK equities less than 10%. Well diversified portfolios will contain very little of these when broken down. Now a DFM or particularly a stockbroker managed portfolio may be overweight in UK equities but Financial Adviser was mentioned here.
Its not really the point. The 2 aren’t comparable. A normal/average client is looking to protect the value of the money they hold against inflation and make money in good years. A single stock portfolio is clearly higher risk. I’m not commenting to compare the two I’m pointing out that -40% return in 2020 isn’t what’s happened out there.
Everyone on here is an investor. Hence everyone is trying to make more than they could in the bank, or say more than the average Joe. Trying to differentiate between one persons level of profit and another and making one greedy and the other more worthy is utter tosh! We’re all here to make money and we can all do what we want with it. Give it all to charity if your profit weighs on your conscience!! Surely a ridiculous conversation to be having on a bulletin board based on a high risk/high return investment!!
Not every stock purchase is about research and full knowledge of a company. I purchased GGP on gut feeling which proved to be right. I purchased ECR on momentum and a gut feeling also. It’s perfectly fine to have a holding without huge swathes of research or on the back of a tip. The longer you own a stock the more you learn about it!
Would seem the day to release an RNS detailing Scallywag results. With the Newcrest AGM tomorrow, if there’s any JV opportunities for the future, then GH may want this out in the market today. GH also good at steadying the ship at the right time. This is just speculation based on the timings. We shall see! GLA