Member Info for Nige_W

Hi Rawson I have heard of that but didn't seem to be any option on Hsbc to do it, nor did the lady I was talking to mention it. I would much prefer to do it that way and adjust shares to new Isa set up, later. Definitely check that out before next time. Thanks for your help and BoL

Thanks Tom Just phoned Hsbc - very helpful. Basically you have to apply for a new Isa every year (to agree to conditions) and it takes 2 days to set it up. No new Isa but you can transfer funds to existing Isa after 2 days. The important thing is don't sell shares until Isa set up, so I have �20k stuck in limbo now as prices going up. On +ve side banking crisis on the way and tw sp will drop to 12 (according to Bash) so look forward to buying back then, and retiring again. Think everything set up OK now, will find out on Thursday. Thanks again and BoL

Hi Tom Good guess it was Bash. Daft Isa question. Just been setting up �20k to transfer to Isa account for this year, so I thought I could simply transfer it to the existing account. Doesn't seem to let me do that, so do I have to set up a new account? Don't want my money scattered all over the place like madman's S##t. I am sure years ago I was in the same situation and was able to consolidate them into one account. Just hope nothing much happens until new account set up. BoL

Hi BtB Have a look at psn, tw, bdev, bwy and rdw, I imagine more growth and bigger Divis than vod and mars. Also look at cash and margin. Sure you can find the best mix for you with those 5 Coys. Back to nano, topped up but then I also set up this years ISA, which was stupid, cos I was selling shares I had just bought (in psn and nano). Later today I'll transfer money to Isa and buy them back (stupider? but you have to do that I think, and I wasn't buying the same numbers). tw Spec Divi 10.4 pps, XDvdt 31/05/18 Cur Price 205, followed by psn FinDiv 110 pps, XDivDt 14/06/18, Cur Price 2766. Already got IntDiv 125 pps from psn, and PreInt Results due around 04/07/18 when Sp should recover to Pre FinDivDt max. So move from tw to psn after Sp recovers (so Divi for free) and pick up psn FinDiv. Reason for Isa deal today is to get as much as possible nano into Isa before they take off. I could calculate how much it cost me, but I won't - still think it is a good move. Builders won't move much but nano could at any time. Just hope nano doesn't go up too much later today. BoL

Hi Bamps Hope you are right about recovery. Looks like I'm going to hold for divi, sell at no less than 208 (float price so divi for free) and if this is before (XDivDt) 14/06/18 invest in psn for Fin Divi of 110 for another 3.9%. Already got Int Div of 125 (4.8%) ie tot yield 8.9%. Strange Int Div > Fin Div.This should recover by 07/07/18 PreInt results. Then maybe move a chunk to cash for summer. BoL

Hi BtB "I look for depressed dividend payers in the hope of getting the best of both share price growth and dividends. I also hope that because my investments are significantly discounted, they won't be hit quite so hard if/when a correction occurs." I use exactly the same strategy, and house builders are my safe? investments. Exactly as you say, growing nicely, big Divis, loads of cash and very unpopular (as proved by Per). I don't think I have seen you on builders boards and would be interested to know what your safe investments are. BoL

Hi Tom Working late as usual - please don't say I am knowledgeable or anything like that - made plenty of mistakes but doing OK. Great to see so many new players on this board. TommyR seems to have done a good bit of research. Great last RNS from tw, something psn did a few years ago and they achieved that big time (bonus for CEO �100m). Welcome TommyR There are some other very good builders to look at - psn, rdw, bwy, bdev, bkgh. all of which I hold shares in. I don't bother with crst or bvs (London and Se slump) but bkgh seems to do OK regardless. I used to invest in tech stocks looking for sp growth which worked nicely for me until Dot.Com bust, now really only hold 1, nano. That was based on Per/Peg/EpsG, more or less the opposite of your method of evaluation. But I get Company Refs, a useful tool, cos you can order any Per/Peg/EpsG/Margin � and that is what led me from Tech stocks to Builders. Best numbers around! Tom said in a system based around future cash flow projections, builders are undervalued by: tw 49%, rdw 47%, bvs 43%, bdev 41%, psn 36%, bwy 24% and bkgh 10% BoL

Hi BtB Don't think you need to say 10 to 20 years time. We have had revolutions in farming, industrialisation, technology and coms and now Nano Tech. I think it will happen very quickly cos every major change in the past has taken far longer than the following one. The amount of research being done now massively exceeds anything that has ever previously happened. If Nano are thinking of producing 2 dimension materials (like graphene) relatively cheaply the World will go mad for it. The centre of knowledge is Manchester (cannot be disrupted) and the US partner knows that, but there is no way they will let anyone else buy nano. For that reason alone I think nano are undervalued by maybe 200% at the moment, if things continue the way they are, standard progression maybe double price every 6 months. I have no concerns about nano cash situation, nor competitors - topping up on Monday. I think you were being overcautious in looking at cash flow, PBV etc cos this is going to fly like the rest of our Tech stocks did, before all being bought out by foreign competition. Previously nano sp almost 200 based on potential - now 43 as (part of) that potential is being realised. So completely agree with you - Strong Buy. Daft question - When do you have too many eggs in 1 basket? Best of luck

Hi Tom Last posted on Monday and early Tuesday, probably lost in the flurry of messages after tw RNS. At the time the discussion was about possible slump in sales in London/SE, and I stated little effect on tw cos National builder, and that most affected would be bkgh, crst and bvs (based in SE). Now crst has released an underwhelming RNS, reducing all builders. Still think (hope) tw could reach 220 by 31/05/18, Troubles 215 and yourself 210, but think Troubles will be closest. BoL

Hi Sean We now expect a special, if it was to be scrapped Sp will be in freefall unless regulars replace it. The Yield remains the same regardless what it is made of (total of all). Tw has plenty of cash and still highly profitable so can't see yield decreasing. Maybe one day the value of this company will be realised, and that estimate of 50% undervalued will lead to a true justifiable Sp of 300 - again not holding my breath and quite happy with Divis. BoL

Hi Rawson Interesting to note psn and bwy hardly affected by (Govt created) banking crisis of 2007-2008, cos they had plenty of cash in hand. Most builders have plenty of cash now so a slump in sales (caused by rise in interest rates) should have little impact. Despite TM being in control of building and doubling (or whatever) number of houses built!? The builders with most exposure to a slump in London/SE are bkgh, crst and bvs, so thinking of getting out of bkgh (don't hold the other two). Got 72% return on bkgh so maybe sell half. Also decrease in Divi, WW Quite happy with general malaise while picking up 7 to 9% divis (another big one from psn soon - then move from tw to psn after 31/05/18?) Even if no rerating, nice to hold undervalued shares, which are safe (cash), so can sleep easy at night. BoL

Hi Rawson As I have been maintaining for ages all builders hugely undervalued. Their figures tw 49%, rdw 47%, bvs 43%, bdev 41%, psn 36%, bwy 24% and bkg 10%. Hold shares in all of them except bvs. Surprised how far behind psn and bwy are. Market sentiment very much against builders right now, and that won't change overnight so I do not expect any sudden increase in price - quite happy picking up Divis. BoL

Hi Sean Imho the disaster of Brexit is already built into the Sp. Not only that but builders have been affected more than any other sector for no justifiable reason. Traditionally builders Sp falls away after end of May, after big gains from Jan to May, but those gains haven't happened this year. Given the Yield and Per I don't think Sp can get much lower, and this applies to all Builders. No doubt there will be a fall in Sp after XDivDt, but looks like I am going to hold for Divi and wait until Sp recovers before selling at 210+ Might take a while but builders still growing so shouldn't take too long. BoL

Hi MaxM We were meant to go metric almost 50 years ago, so why are we sill talking in miles (mpg...) and in building, acres, brick size, wood dimensions. When I first started as a QS a contract came along in Middle East for a petrol refinery (just as we were converting to metric) requiring US standards (pipework in ft, inches) and this Country couldn't even win that, cos converted to metric. An Italian company got the contract cos they fabricated Imperial and Metric Pipes. Yanks would say 'Snafu', Brits 'couldn't organise a **** up in a brewery.' There is a fundamental Issue - Politicians! At least with Nano, British Scientists are leading the World so I hope this will continue and they are not bought out (for �150 ps, which would be nice but I would prefer to hold these long term,) The US partner (Apple?) could buy nano with petty cash (Mrkt Cap little over �100M) but like Silicon Valley, Manchester is the center of Nano material research. ie Don't upset the Apple cart. One thing is for sure the US partner will never let anyone else take over nano. But arm was bought suddenly by a Jap company (Softbank?) for about �17Bn in Cash. If minimum profit is 300% short term and far greater than that long term, it seems a good time to buy some more. Only trouble is if price improves it becomes a seriously big part of my Port - Eggs in 1 basket or Man or Mouse! I wish all holders the Best of Luck, and think we are about to see lift off.

Hi Tom New PC is great but don't know Windows 10 - takes time to get the hang of it, and new mobile, tablet, wifi mouse and keyboard (not working yet) and smart tv. Working my system on new Dell PC now - no issues, just need to get everything connected rather than copying from one to another with USB memory sticks. Version control has been one of the big Issues in computing for years, and I have so many versions of my system it is ridiculous. Last time I worked was Y2K conversion during which printed material was banned, living documents (On Line) which you had to update every time you made a change. Bit of a pain, but really the only way to do things. Back to tw before I get into trouble - it is outperforming bdev and possibly bwy, but well behind psn and rdw, but all are performing far better than any other sector. Bkgh special case (London), but done very nicely out of them (67.8% up), so not deserting a sinking ship yet. My point is why bother with ITV ... when builders are going so well. Nano and agma are the future, nano much sooner than agma, but that is where I see big profits. BoL

Ps All sent from my new Dell Inspiron PC with windows 10 (getting the hang of it, but still happier with windows 7). Only managed <2 hours on my system today and doing a big rewrite. Probably take a week or so, but need to integrate tablet, tv, mobile, old Dell PC and even older PC (Backup with about 1 TByte - windows XP) into the system, Then a new Laptop (cos old Samsung falling to bits), after psn final Divi. Ha - not much after 03:00 - not bad for me, and my granddaughter, Lyra is beautiful. More to the point, tw is great also. BoL

Hi Tom Think nano about to take off - now into graphene as well (possibly the US partner is Apple! see last post on nano board.) You have not missed the boat there cos about to set off on a very long voyage. Also did you get into psn? Divi even better than tw and my biggest holding. Still hold a few shares in agma (graphene) but if a competitor is Apple (via nano 2 dimension) only going to be one winner there. At least they might buy agma to get IP rights, so I could break even there. Since I am required now to say something about tw, you go for 208-210 on 31/05/18, Troubles 215 so I will be optimistic and go for 220. BoL

Hi NigWit I have a tiny holding in agma on which I have lost 70% +. There is no doubt that it is a wonder material, the issue is making it, which has been the issue for a long time, with little apparent progress. If they can mass produce it, it will be used everywhere and agma/2D Mats/nano will make a fortune out of royalties. Last I heard you vaporise carbon, let it condense on to copper, dissolve the copper away with acid and there you are! Might cost more than gold, but will no doubt still have many applications due to the unique properties. Not holding my breath! BoL and thanks for your superb comments on nano. Used to be on MotleyFool simply because of the enlightened and expert posters there on Arm.

Hi Tom I still think absolute min price 31/05/18 is 208, when divi is 5% of Sp. Previous calcs lead to <5% (about 4.6%) increasing Sp. My idea of working the calc on total of FinDiv + SpecDiv (leading to Sp of 258) is probably wrong but might have some influence, so I think Troubles estimate of 215 is about right. Can't do anything about it now - not selling for less than 208 so probably holding for div and waiting for recovery. BoL

Hi Lord Adam Probably this is a share incentive scheme for psn employees. Mrkt Cap psn about �8.5 Bn so 55 / 8,500 = 0.65%. If I am correct then it means the cost to share holders is closer to 0.5% than 1.0% but these shares will not exist unless targets are achieved - they have not been issued, they will only issue them if profit exceeds present profits, so no real cost to existing shareholders. Just a tiny amount to reward employees. Since around 1950 employees were rewarded by a bonus scheme to give more money for their productivity. Great move and everyone benefited. You can hardly deny this to management (despite the perceived excessive amounts), distribution of profits is a separate issue. I think maybe half to employees and half to shareholders. How many people are employed by psn? I think their profit will be over �1 Bn next year - but you want it all! BoL