Member Info for Observe1

@ Irish_Renegade. No recall of advising anyone to close out their position....suggested a 50% reduction in holding between 6.00 and 6.50 to address volatility. In the event, executed my reduction of 66% at an average SP of 6.95. Balance of holding will go between 7.50 and 8.00 before year end.
Should end up at 7.25 ish exit price on portfolio and leave the forever promised dividend/share buyback to the next punter!!!

Enjoy!!!

Been down this road to no where Paddow....more than once!!!!
Delivered statements by management to deliver 50% of ATP have been ignored. The single biggest insult was the 2021 results when on the end of a bumper year they toss shareholders a 10% bone from ATP.
If anyone believes this lot are going to change their tune they are sadly mistaken. This is why the SP is drifting at the lower echelons of NAV ranges, not performing relative to its European peers and going no where in the context of the Irish banking monopoly.
Sell on any uptick above 7.50!!!!

I think the idiot and his cohorts should ..ss off and leave us in peace!!!

Stark raving mad!!

This fellow needs to be put away.....for good!!

@FBS. What makes you think that anyone gives a ---- what you are doing, what you think or where you go!! Just disappear and give us all peace.

Could the exit by the Asses from Birg signal the end of our misery on this site??

Will light a candle this week!!!

No trades every proven and yet the highs and lows of every trade coincides with the high or low of the day/week/year. Amazing. Pathetic idiots!!

Great move overnight to current level around 7.05. Someone is on fire with the buying!!
Can all be wrong if we are in the middle of an acquisition but otherwise all good for some action later (downside). Cleared balance of my 50% sale this morning so happy with the whole play.
@johnhume. Difficult to call the SP on the terminal rate from here. I hear what @cooking says about waiting and I note the revenue kick to the banks as mentioned. On the later I am not convinced of the legitimacy of the assumption. This assumption can only argue on marginal new balance sheet as the existing balance sheet already has a baked in rate structure. So yes, there is a benefit as rates rise but it is not and cannot be a totality of gain.
The forward interest rate curve in Euro is calling 2.5% as the terminal rate and perhaps sane people would see this as a correct projection. I would. However has the politicised ECB got the same projection backed in to its calculation?? The answer is most certainly not. I would think that at an almighty push Madame le Politician is at a max of 1.5% and will likely blink before then. So maybe we have another 50 to 75 bps in the offing and this will be given up reluctantly. Remember the US is at a Fed terminal rate of 2.5% right now. So US on par with Euro Zone? No way.

I am all for more price enthusiasm and am very happy to play the odds now that I have dropped 50% of my risk.

6.60 sell, sell sell. Drop 50% of your portfolio at these levels.

Great up move but not sustainable unless there is a buyer of Birg in the wings!!

Happy to have lighten up.

What a nutcase!!

Prove your trades. 6.27 and 5.97. Utter crap.

Your delusion is unwanted and plain stupid, SilverAss. Move along!!!

Yes, bmc123. A share is either a growth share or an income share. Some years back towards the end of the debt restructuring, Birg management stated that it was their intention to take distribution up to 50% of ATP as soon as possible and MAINTAIN IT THERE!!!
Since that statement (I think 2018) we have had two distributions. The first one constituted c18 of ATP. The second one (2021) constituted 10% of ATP, a decrease in a year of record profit from before the financial crisis. This is why the SP is where it is and why it cannot shift higher. Typically, what can't go up MUST COME DOWN.

The donkeys are totally transparent on this site. They have zero contribution because they are clueless. That is what makes it so irritating that they troll this site.
Where a share such as this has run out of puff you have to drop your exposure to a level that no longer gives you a heart attack when it goes rogue. For me that's 50% of my holding. To give it all up at levels that are really highly undervalued would not be right. We have seen recovery in the past, mainly via an American acquisition.

I will sell 50% of my holding in this range, the balance will leave as a speculative holding and see how it plays out over a longer period.

@ Cooking
Well I have been consistent between 6 and 6.50 since the results. The pop above 6 a short while back lasted all of a day or two!!! Sadly, for the reasons in my previous post I see no energy, no x factor. Sure a US acquisition would offer a jump to around 7.50 but this still leaves it at a huge negative to current NAV of around 9.00.
The S+P is a more interesting debate. I think the debate on the terminal rate is going to be the ultimate decider and this is moving about a lot. The Fed at 2.5% is obviously just playing a game, the market at 4.5 to 5% are probably a lot closer. S+P at 3600 probably called a terminal rate at about 3.5%. If inflation comes down from current levels to 4.5 to 5% and sticks, then you will get your terminal rate up around 5% and you will ultimately force the S+P down to your 3200 levels. This is a longer term game now so 2023 comes into play as another weak/ bad year for equities.
Figure Birg into that equation!!

Interesting comment, JH and Joxer22.
I think the suppression/discount in the SP is driven by
1) the growth issue. In spite of some good mortgage acquisitions in the past two years, the size of the book (net) has decreased or at best stood still.
2) the rise in EU rates will come but not in the initial size as was anticipated 6 months ago. With the politicalised French woman in charge and the delusionary Irishman running economics, do not hold your breath. Get rid of both, then I would be a lot more positive.
3) the refusal by management to implement a consistant, realistic dividend and/or share buyback policy is the single biggest negative. Their decisions at end 2021 was the biggest single slap in the face for shareholders in 10 year. I cannot see this changing.
4) Irish politics with SF in the wings is a big negative. Easier to do nothing than to challenge the status quo.
5) Equity is still highly overpriced, particularly in the States. Their efforts to try and justify current levels as some sort of value is laughable. It will be hard to look for a bull trend before the S+P gets down to circa 3200.
6) European Bank Navs have shown little strength in the past y months, inspite of rates moving up. Can't see BIRG breaking trend. The analysts have been wrong since 2012...not a proud record!!!

€6 is close to a top in 2022, maybe €6.50 at a huge push. Safe to sell inside of this range and look to redeploy elsewhere in due course. This share is a dog as they say and with management and the politicians against it don't hold your breath!!!

Endless rubbish. From ignorant comment to narcissistic delusion!!! Where does it all end? Perhaps in a state ward......if anyone can help in the commitment process please step up now!!!!

No one gives a damn where you are as long as it's not on this site!!!!

Disappear for good!!!

I am sure we can arrange a departure vote for you immediately. All in favour vote now.
My vote: Depart (all three alias)

The fantasizing continues unabated!!
SP €6 one day, €10 the next day. Why not pitch it at €15 in 10 years and buzz off to pasture till then. Your clueless utterances are pathetic and pointless. Leave the site in peace.

The three peanuts remain delusional and clueless!
Their €10 SP disappeared to €8 and now to ????. Their FY €1.2billion profit changed to €883 and now to €650????. Their call on Davy at €100m is down to €24!!!!
Go irritate some other board with your rubbish, just disappear!!!!