George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
I also could not buy (via Bank Vontobel in Switzerland).
Forget, got it one day late....
Anybody else who didn't get paid out yesterday? It could be my Swiss Asset Manager not being fully integrated in EUR system...
"building a more sustainable and inclusive future is central to this, including our commitment to supporting the environmental transition, social housing and broader purpose-aligned objectives".
esg & dei combined with wef "stakeholder capitalism". essentially this is not a capitalist company. i was there for a few years when they got rid of meritocracy and went full dei which by definition will lower the quality of the people hired and managed. all ***s, non-whites and women got promotions. look at a 10 year chart to see how they have run circles around the shareholders while playing virtue signalling kindergarten. this company must be exposed until they understand who is the boss. i recommend voting down the compensation proposals before the annual.
Notwithstanding the dividend discussion, where many investors seem aligned, I was pleased to hear the rotation from China to India and Indonesia. This appears to be a good decision supposedly suggested by the new manager. But the idea that they somehow can cleverly time the divesture/investing and trade around the dividends, I don t believe. That's also not sustainable. Again, at the moment the risk to the share price must be heavily in favour of the downside. A modest cut in dividend surely should alleviate at least some of that risk?
Listening to the AEWU cast this morning (and frankly the last two years) , I have been alarmed about how much ESG regulations are impacting the sector. It has become a real actionable input in asset management of the properties. In the US ESG has finally become increasingly toxic, which will perhaps improve returns over there. I worry that the REIT sector in the UK is so harassed by ESG that it will, like in most of the EU, simply strangle opportunities and returns in the medium term.
Am also mostly an income chaser and have several of the shares you discuss (including RLE). Do you look at US and Europe too. And if yes, would be interested in some ideas. Thanks!
Am not sure. I read it positively as a potential return enhancing policy but then again, the exact opposition interpretation is possible. Share price has been quite positive the last few months however.
I agree with Anglaterre's sentiment. I have owned the share for about 12 years and it has been a terrible looser. All the shares however was awarded to me as part of LBG's long term compensation plan. Every plan is under wanter if you don t count the dividends. Here is my view (I am repeating myself but who doesn't):
- The strategy has been risk concentration to the UK consumer. While there are pockets of market share opportunities they don't motivate a big enough profit uplift for the share to react. Also, it aligns LBG with the fortunes of the UK economy which gas not been great (better than Europe but still).
- The Commercial Bank has been properly mismanaged since Andrew Bester resigned. LBG has low market share in Mid Markets and sub par in SME's. All they care about is lending and every attempt to increase penetration with off balance sheet commercial/investment bank products fail because of poor management and highly centralised transformation programs (costs, costs, costs).
- About 2016ish they abandoned meritocracy and went full DEI. Obviously focused shifted from profits and client service to gender and skin colour the staff. Just look at the debacle with Halifax pro-nouns. It appears to have been the same at NatWest and Coutts. The culture of the Bank was already like a Government entity with big internal meetings with powerpoint presentations produced by people who never saw a client or invested or worked on a product.
In theory the franchise value is enormous. But just like a third world nation with massive natural resources culture, management and metrics will ensure it is always a slacker. Remember when Charlie joined? The first intro of him was with a bicycle. That's how far off reality these people are.
After the meeting yesterday the most conservative outlook on this share is "hope for the best"...
The explanation of how they turn 5% natural yield into 11% was rather magic. Seems to me that it is not sustainable and the share may benefit from cutting the dividend 25%... But they indicated, quite strongly, that it is not in the cards. Yet.
Thanks! Let's see what they say...
Whats going on with this fund? The price action is awful
Goldman Sachs has urged investors to stop betting against UK property stocks as the market shows signs of recovery.
Economists at the Wall Street bank are predicting a rebound in the real estate sector as interest rate pressures ease.
This marks a reversal as Goldman had previously warned clients against investing in commercial real estate companies as valuations plummeted.
Sharon Bell of Goldman Sachs said:
The real estate market is holding up: housing prices edged up last month amid encouraging signs that mortgage rates are starting to come down.
Goldman struck an optimistic tone as its economists also revealed forecasts showing interest rates will fall to 3pc by mid-2025.
In a memo to investors on Sunday, the bank said Governor Andrew Bailey is likely to announce a cut to interest rates in August before further reductions in consecutive quarters.
Ms Bell said:
UK consumer confidence also rose sharply, outperforming expectations and raising hopes of higher spending on the festive season.
Her comments came as new data from Rightmove showed that sellers were still slashing asking prices in December, indicating that the market’s upturn is yet to filter through.
The average selling price of houses fell by 1.9pc in December to £355,177.
Goldman Sachs has urged investors to stop betting against UK property stocks as the market shows signs of recovery.
Economists at the Wall Street bank are predicting a rebound in the real estate sector as interest rate pressures ease.
This marks a reversal as Goldman had previously warned clients against investing in commercial real estate companies as valuations plummeted.
Sharon Bell of Goldman Sachs said:
The real estate market is holding up: housing prices edged up last month amid encouraging signs that mortgage rates are starting to come down.
Goldman struck an optimistic tone as its economists also revealed forecasts showing interest rates will fall to 3pc by mid-2025.
In a memo to investors on Sunday, the bank said Governor Andrew Bailey is likely to announce a cut to interest rates in August before further reductions in consecutive quarters.
Ms Bell said:
UK consumer confidence also rose sharply, outperforming expectations and raising hopes of higher spending on the festive season.
Her comments came as new data from Rightmove showed that sellers were still slashing asking prices in December, indicating that the market’s upturn is yet to filter through.
The average selling price of houses fell by 1.9pc in December to £355,177.
Telegraph: Goldman Sachs has urged investors to stop betting against UK property stocks as the market shows signs of recovery.
Economists at the Wall Street bank are predicting a rebound in the real estate sector as interest rate pressures ease.
This marks a reversal as Goldman had previously warned clients against investing in commercial real estate companies as valuations plummeted.
Sharon Bell of Goldman Sachs said:
The real estate market is holding up: housing prices edged up last month amid encouraging signs that mortgage rates are starting to come down.
Goldman struck an optimistic tone as its economists also revealed forecasts showing interest rates will fall to 3pc by mid-2025.
In a memo to investors on Sunday, the bank said Governor Andrew Bailey is likely to announce a cut to interest rates in August before further reductions in consecutive quarters.
Ms Bell said:
UK consumer confidence also rose sharply, outperforming expectations and raising hopes of higher spending on the festive season.
Her comments came as new data from Rightmove showed that sellers were still slashing asking prices in December, indicating that the market’s upturn is yet to filter through.
The average selling price of houses fell by 1.9pc in December to £355,177.
LOL. Incorporation date was 2/1 2006.....
While I agree with Skier on his first part you can also argue that peace and prosperity will be good for markets and if Trump's first term is any guidance that's exactly what he achieved. At least until the China virus exploded on the world.
The worst thing for peace & prosperity is another 4 years of Biden where every dictator in the world will expand their ambitions while Europe and the US pays for both sides... It's at this stage 50/50 as so often. I suspect that the only thing that would tilt in markets favour is that I don t think Biden will go into the election with two wars under his belt and I think he will try to settle if not both at least the Ukraine war. By November 24 Israel will have decimated Hamas anyway.
I own RGL and AEWU. I have no specific insight. But on RGL it may be a play on the ex dividend this Thursday and on RGL (which needs refinance) and AEWU it may be the lower inflation print in the US moving the US 10Y to 4.45%. Lower rates in angloworld should in theory make financing cheaper and perhaps provide some relief on the struggling Commercial Real Estate Sector. Not sure about impact of cabinet re-shuffle. Leave to actual UK residents to comment on that. It is politics after all...
Many thanks!