Member Info for Paddyboy1

I don't believe anyone isn't bothered by the SP drop or is happy to sit on paper losses. Everyone has winners & losers if they invest in a few different shares. Personally i took a punt on Evraz too & made a few quid on that one. I also lost a couple of grand on POG when it went belly up. Made a few bob buying & selling CINE too. It's all part of the gig. win some lose some. PSN is a safe bet compared to those examples & it will surely recover at some stage. BUT that is no reason to buy this share NOW. In fact there is no reason to buy this share now. EVERYTHING points to this share dropping further. IMO sub £10 is a when now not an if. Good luck to anyone buying now. Personally i see it as throwing money away as it'll be cheaper next week & the week after that too!

From a HB perspective the simplest way of looking at this is that a £300k house would have cost less than £6k in interest per year to finance a year ago. At a 5% mortgage rate that number goes up to £15k interest per year. To an average income earner that is a pretty big increase to stomach!

kerching, the problem is we have a government which is less than 2 weeks old & they look horrendously irresponsible. The problem is (like 1992) matters will be liable to spiral outside government control!

I have a work colleague who took a fixed mortgage (£400k @1.79%) during covid. It's up for renewal early next year. He's unable to switch yet but if he could the cheapest he could get was a fix at 4.5%. what will that rate be in Jan/Feb next year? that is the way the markets think-Forwards. They are not interested in PSN's great results from yesteryear. Do the maths. The repossession days are coming back!

I'm old enough to remember Black Wednesday in 1992. For those buying here have a look back to what happened then & envisage what would happen to this SP if the same happened again. Anyone who thinks this may not happen is incredibly naive!

People are missing the point that none of the doom & gloom has actually happened YET. O petrol/diesel went sky high a few weeks back & food prices on the up. The real hits are going to be when the winter energy bills hit & when people on fixed rate mortgages start coming to the end of their deals. That is when people will become unable to manage & the poo really hits the fan. That is what the market is looking at! The market isn't interested in PSNs last results as good as they may look. The market is seeing higher interest rates/repossessions & falling prices. That is why the SP is where it is & going lower still!

Be good if he did a RI or placing though!

The SP will be of little concern to Finch et al. He's there to run the company not watch share tickers!

Personally i don't care if he does. Just saying that he won't. Big divi payers do not empty their profits out to shareholders & then do a buyback. It goes against the grain. Obviously people invested want any measure to rescue the SP. Unfortunately the destination of the SP is currently in the capable hands of Liz & Kwasi not Dean Finch!

A buyback would never happen in this climate. Would be viewed as hugely irresponsible by the market. Dean Finch is a decent CEO. He won't do anything like that!

This could break the £10 level by end of the week!

Well, as Sir Stuart Rose has said: 'The government are punting the whole UK economy on the 3.30 at Epsom'. All shares are getting battered atm it's not just HBs! what a disaster. Apparently the odds on Truss being out by Xmas came down from 100-1 to 9-1 last night. Not a bad punt really. Get rid of this unelected Muppet Show!

yes, that's my point. A multi year low for a reason! Probably likely to head to a lower, lower multi year low. 20% dividend won't happen at these SP levels! Not good reasons to buy. The trend has been down & down for 6 months now. Why should it stop???

People falling into the FOMO trap here. Lured by a multi year low price & a near 20% divi yield. An easy mistake to make but all that glistens is not gold. Far better to hold off the buy button here for now No reason for this to rise yet!

shares are not being valued on fundamentals atm. They are being valued on outlook. The market views the outlook with the current shower in charge as apocalyptic. That is dictating SPs across the board!

Am i right here thinking that the the stance on the dividend will not be known until March next year?

Triumph, good & realistic points made. I used to be a BTL landlord, only had a small portfolio but recently sold my last one which was a 2 bed flat in suburb of West London. I lost over 25k due to non rent payment during Covid. Luckily it was a mortgage free property. My view is that lie myself loads of landlords will get out of the game. It's really difficult to turn a profit now & regulation etc has just got insane. I decided to take the cash & run. That particular property had been bought for £45k in the 90s & i sold for just short of 350k. No incentive to hold property now for income. Property to expensive now to buy anymore as yields are too low to justify. This whole thing will go tits up at some stage. Yes, PSN will do OK long term but no reason to buy now when it's likely to drop further. For me this one's a wait & see for the moment as there are too many unknowns to make any significant investment yet. Investing for the dividend as i said before is fools gold if your capital is continuously dropping in value!

This share has been a great one for me. Since Covid i've traded in & out of MRO at least 3 times making at least 50% gain each time. My last trade here was a buy @109 on the last big dip & sold just under 160. Been watching closely on the current drop & have resisted buying just yet. I seem to recall this having a lot of support around 94/95p so will plan a buy around that level. This is a well solid share. Very little risk @these prices IMO

WoW. well, that as i see it was the point of this budget. To create a false feel good factor among most people. I too will fare very favourably under his changes. The problem is that it is a very short term (& very expensive) fix. Similar measures were tried in the early 70s & well, look what happened a few years later. My point about the interest rates is that the BoE are raising them to try to control inflation while at the same time central government are introducing inflationary incentives lie the SDLT change. It'll be interesting to see how it all pans out but if you were a 1st time buyer yesterday's announcement would probably push you to buy. I think these people could fall into a negative equity trap possibly stuck on a higher fixed rate mortgage. Personally i'm thinking of taking a trading punt on this share if it drops below 13 as i think there'll be money to be made trading the daily/weekly swings!

Well that budget just struck me as completely crazy & sure enough lots of shares taken a huge battering today. This is just a clueless government. The SDLT change will not boost this share IMO. The markets will see through this & just watch the BoE react to this probably by raising interest rates more than they might otherwise have done. They need to take back control of interest rate setting back to the Treasury otherwise we will just have a ping pong/tit for tat economy with the BoE & the Government singing from different hymn sheets. The market will be interesting next week. Some real bargains about but so much uncertainty!