Member Info for Paddyboy1

50% dividend cut is priced in here. Yes. 50% of 'the dividend', so 50% of 125. Dividend will be around 65p next year. They won't get rid altogether as that would car crash the SP. People need to ignore the 'special' 110 payment. Won't see those again for a few years!

Is the dividend relatively safe? No, the dividend is relatively dangerous!

The fundamentals are of little relevance to the daily SP & that applies to lots of stocks not just PSN. The SP is dictated by outlook & market sentiment primarily. Any catalyst (e.g interest rate moves/Ukraine war/ political stuff)is what will move this SP. The markets do not care about NAVs or intangible assets etc. They want to know the road ahead in the future is looking prosperous. I understand the debt is zero here which is obviously a good thing in terms of liquidity but i don't think PSN's solvency is ever going to be an issue! By mid November will see how far this might be headed with interest rate announcement & TU. Nowhere need bottoming yet though IMO

The short positions haven't disappeared. Just dipped under reporting threshold of 0.50%. Marshall Wace is 0.49% short here. GLG & Citadel also short here!

Will there be a house price crash?? Well, the old saying is 'safe as houses'. Personally i'm old enough to have been through a few ups & downs in the UK. The trajectory of house prices has ben up & up for as long as i can remember & further back still! If House Prices UK were a share it would have been the best & most consistent investment ever. There have been a few bumps in the road but a house or flat as well as being a home has always been a solid & safe haven for your money. Will that continue? well, demand for housing still outstrips supply massively. The question here is affordability. As i see it that is the key question here & it's all about where interest rates go to & for how long they go there. We have had stupidly low interest rates in the UK now for 14 years. The recent rises & future? rises could potentially have a seismic impact here. People have become complacent & so used to low interest rates that sharp increases will force people to review all their plans. It's highly unlikely wages will keep pace with all these increases across the board. Difficult times are ahead there is no doubt in my mind about that!

I really can't understand how blinkered people are to reality here. Yes, i've got a bearish view of the PSN SP at least for the medium term but that doesn't mean i think it's a bad company! if i thought that i wouldn't comment here at all. No, PSN is a good company operating in an atrociously difficult climate which is only highly likely to get far worse before it gets any better. I've seen no comments here from the bull brigade which give me any reason to invest here. The SP here will not be on the up again properly for a long, long time. If people want to throw their money away chasing fool's gold that is their choice but they will only end up looking back in anger!

Well, one swallow doesn't make a Summer. Most shares are up a few %today due to the binning of Truss nonsense. Anyone thinking this is a reversal for PSN will be mistaken. A lot of falling still to come here. Today was an opportunity for people to cut their losses & wait here!. Steve regarding CARD. I had a buy order at 28 & i missed the bottom there by a whisker. That's the name of this game. Some you win, some you lose. Falling into the FOMO trap is however the worst & most costly mistake to make! As you'll recall, CARD's fortunes reversed due to unexpected tax breaks for retail given by Johnson's Government. A RI would've happened there had it not been for that catalyst. The same would be true with PSN if e.g. interest rates drop/Ukraine war ends. Without that catalyst the downtrend will continue here!

Steve, wait for the worm to turn. Don't go throwing your cash away averaging down. This is not going North anytime soon that is almost certain!

Certainlly will be testing the £10 level by end of the week is my prediction!

probably see a base rate of at least 3.5% with mortgages at 8% by the time Finch gives his update. That'll be an interesting read!

Andrew Bailey's comments on next interest rate rise won't be well received here!

PC: 'Obviously interest rates will drop as UK enters recession'???? Err why?? interest rate will fall when the BoE hits or nears it's target of 2% inflation. Not happening anytime soon. If anything inflation will keep rising. Look around you! The whole economy is going on strike for higher wage demands. I believe there will be a wage price spiral in the UK similar to that of the 1970s. I see no reason why that won't happen. An end to the Ukraine conflict could be a game changer but that's a big if! First things first The country needs new Government. I can't believe this foll has the audacity to stay in number 10 thinking just by sacking her puppet it's all OK. I think she'll be gone by next week. Hopefully!

He's gone & she's just signed her own P45!

Jedi, you may be right & i wish you good luck. I would like to see the markets turn let me be clear about this as i have investments in other shares which are suffering too. In the immediate term i want to see these idiots out of Downing Street for the good of all of us! PSN specific. I intent to take a position here at some point. My current view is to wait on BoE rates decision on 3rd Nov & PSN TU shortly after that. I'm happy enough to miss catching the ultimate bottom on a share as all too often you end up catching a falling knife. Too uncertain for me at this current time as i still see sub £10 but only time will tell!

Well, Odey Asset Management betted hugely against the £ before Kwarteng's car crash budget. No prizes for guessing who Kwarteng used to work for & hopefully who he'll be working for again in days if the Tories can oust him! Useless; worst Government in my living memory without any doubt & there's been some pretty bad ones!

well i don't think the drops will stop across the board until something done about this government. I believe the Tory top brass will be wanting Truss out. Only so long this chaos can go on for! Truss is just pathetic to listen to. Not a clue!

Rees Moggs comments will infuriate the BoE to push interest rates higher. This government has to go. It's a global laughing stock

Bit of a bizarre drop this today & not really sure why this has taken such a clobbering. Mind having said that i'd thought it had held up reasonably well since the mad budget announcement. I'm guessing this could be an II offloading but we'll see. I'm due some dry powder coming my way so will add more if it stays down at these levels. IMO a fairly safe bet with all the cash in the bank. time will tell. Bizarre markets across the board really!

Monkey, apologies if it comes over as gloating. Surely noone here can say i haven't called this right thus far. There are far too many Pied Piper's here extolling how great PSN is & the fundamentals are wonderful & a lush 20% dividend is coming your way. This is a blinkered, naive & unrealistic view. Prospective investors need to be aware of the risks here & decide accordingly. I have no issue with PSN as a company. It's well managed & the shares will be a good investment at some stage. NOT NOW THOUGH. The fortunes of this company are at the moment not in the hands of Finch et al. No, they are in the hands of 2 clowns in Downing Street who are doing a great job in wrecking the economy & messing with people's lives!

This is performing well again today i see. New lows! Fill yer boots guy; fill yer boots! Don't say you weren't warned!