Member Info for Racing_Green

I mean, WTF?

I can only suggest that it's time to sit back, switch off and chill out. All things come to he who waits.

RG

Metro down 5%, Barclays down 6%.

I'm not sure that much of today's behaviour has much to do specifically with Metro. It seems more widespread.

Just a thought.

RG

Barclays down nearly 6%, Metro just over 7%. Not a big difference. Usual panic overreaction to bad news (CV).

RG

I'm going to post this now and I will be very, very happy to be proved wrong. I don't think the results this week are going to cause the seismic shift upward in the SP that we all want. I think we're going to have to wait a few more weeks for that. But it is coming. Meantime stay calm and keep buggering on .

RG

HL is currently showing Metro at 225p, which would be nice.....no wait it has just dropped back to 204p. Got to love 'em.

Two fish are swimming together in a tank. The first fish asks "Do you know how to drive this?"

Also an old joke. But I just like it.

Sorry I wasn't clear. I meant you can use pension allowance from up to four years previously, not ISA. You can only use your ISA allowance from the current year, so £20k each tax year. If you don't use it you lose it, and you can't use next year's allowance this year. Sadly.

RG

You can make use of any unused allowance from the last four years, but you can't use next year's allowance until next year.

RG

Tricky I know the feeling. We slunk above my average today. It seems a long time since that was the case! Good luck tomorrow - long may the recovery continue.

"Why should you get tax relief on your pension contributions when you don't on say the money you spend on clothing etc.? You don't pay much in income tax now in 2020, compared with a top rate of 83p back in the 1970's and if you had a lot of investment income then you could pay 98p."

The answer is because you don't pay another round of income tax when you spend money on clothes. You do when you take money out of a pension.

"The problem is that somewhere along the line the govt have calculated it is costing them around £40 billion in lost tax revenue. I'm not disagreeing with your analysis so where is this money lost?
They have already been nibbling at this and will have some idea of the cost/ benefit of their actions so far.
Also selling this to the general public is easy even though many of those gaining 40% relief are not wealthy.
My point was any such move will alter investment habits."

Definitely agree regarding it changing saving habits. I really can't see what the point of a pension will be if they abolish or further reduce tax relief on the way in. And of course fewer people saving into pensions means more people claiming benefits further down the line when they retire. Such muddle headed thinking.

As to the government 'losing' tax revenue, they aren't losing it at all; they are putting off collecting it until a later date by which time (hopefully) the pension will have increased in value and they will collect even more tax.

Saying they are losing tax revenue is a bit like me saying I've lost the money I have stuck in my deposit account because it is no longer in my current account and no longer available to spend immediately. Of course I haven't lost it and nor have the government.

Governments of all colours struggle to see the trade off from foregoing short term gratification (collecting tax today) in order to collect an increased amount of tax later.

I'm struggling to see this as the poor propping up the rich. At present there is tax relief on money going in, but it is then taxed as income on the way out. You don't avoid paying income tax; you just pay it at the point you take the income which seems logical and fair.
If you paid income tax on both the way in and they way out, what would be the point of a pension since it would have become a vehicle for applying double taxation. And that is before you consider whether the fees etc make a pension wothwhile, even with the current 'tax break' (which is, as I've said, a tax deferment not a break).

"And if we are doing Great Escape II, then can I ride the motorbike please?"
- is it a Norton?

Ouch. My last was a Triumph, which I believe is also what Steve mcQueen rode in the film (not the same bike obviously, just the make). Poor Norton. I loved their revamp and thought their bikes looked amazing. I hope they got rescued, if only to make the world a more beautiful place.

How much better that we're all being very nice to each other this week. Big improvement.
And if we are doing Great Escape II, then can I ride the motorbike please?

"Balanced is one thing .. But come on. "anuything to do with Lithium is limit up"... Not true at all. Two firms have gone bust and the price is all over the place. I hold BCN .. "

As a fellow holder of BCN, I have to say I spluttered when I read the "lithium is limit up" comment. If only it were true.

Odey increased their short by 0.73%, or ~1.25million shares, on 14th Jan. The high that day was £2.05. Based on the current SP of £2.28 I make that approximately £300k loss (assuming we don't head south again). It makes my drop on KIE look almost bearable.

Thanks for the answers, which make sense. So in the case of Connor, Clark and Lunn that I highlighted, they have sold the shares and thus have that money in their hand so to speak and are paying perhaps 0.3% a year interest on it. As long as the share price doesn't go up, they have a near interest free loan and no incentive to close out their position and repay the loan. Or, to put it more simply, their cost of holding is negligible and they can afford to wait and see what happens. Always provided the SP doesn't head north.

How much do those shorting a stock have to pay to borrow it? For example Connor, Clark and Lunn have had a 1.22% short position here since 5th September. The closing SP on that date was 274p. Since ~27th Sept the share has generally been trading sideways in the 200-210p range, with occasional excursions above and below this (for example early Nov above, early Dec below). Assuming those excursions weren't predictable (a big assumption), they would have done better closing their position at the end of September. So I was wondering, what has it cost them to stay short since then (ignoring opportunity cost factors)?

Just saying....

Or is it just the Trump effect? Barclays (the other bank share I hold) is down 2.05% this morning but Metro only 0.75%.