Member Info for Tambo210

Thefrogster : let's find a meeting room to have a breakout session.

LLL : Very true.

Sorry.

Thefrogster : Apologies...I didn't read that post.

Sort of...

I don't believe public sector workers should feel entitled to a gold plated pension. Its not fair on us private sector workers. In the end, its all down to the performance of the underlying fund which is the responsibility of the nominated fund(s). If they underperform or the burden of the weight of public sector workforces' pension weighs heavily on that pension pot, then you have a black hole....Another public sector created problem.

" the pension freedoms legislation of 2015 has given people the ability to manage their own pension funds"

From the following website :

https://commonslibrary.parliament.uk/research-briefings/cbp-8382/

"The ‘pension freedoms’ introduced in April 2015 gave people aged 55 and over more flexibility about when and how to draw their defined contribution (DC) pension savings."

So this is voluntary. its up to the individual to seek out financial help if they don't understand it, to decide after 55 (soon to be 58) whether they want to stay on DB or DC.

I'm actually concerned about the years leading up to that age....people in the ages between 25-50. That's where I'm seeing a staggering amount of apathetic behaviour towards their retirement.

lll : we clearly move in different circles.

i see too many people living off credit and not knowing where to start when it comes to doing due diligence on fund purchases. i often get asked where i direct my pension contributions, but i'm not sharing that info. i spend vast amounts of time reading and researching and keeping tabs on global events, that i'm going to share my choices, when frankly they're not interested in why? hell with that. you guys are different since we're kinda all on the same wavelength, actively discussing on this mb. my response to requests is simply to stick with their companies' nominated pension provider's default fund choice. its usually a balanced managed fund......frankly, they're not bad and tend to smooth out peaks and troughs with an upward trend. 5% pa long term growth isn't bad frankly tax free (growth that is) with zero effort on reading. what is a concern is how much they put aside vs their expectation of what they'll have at retirement and what kinda life they'll expect they'll be living......nothing matches up. of course, part of that is also based on inheritance they believe their entitled to and also the value of a 2nd property they have rented out, purchased with an interest-only mortgage not in london (lol!)

they will get off their backsides once they get a letter through the door 5 years before they expect to retire, waking up to the fact the pension pot is 1/4 of what they need to live the dream life of 2 holidays abroad a year, eating out three times a week, a new car every 2 years, and putting a deposit down for each of their 2 children when they go to purchase a house. they forgot to take inflation into account.....probably forgot to check they have enough nic to qualify for the max state pension.

and of course, they'll be no money for care home fees which will rise with inflation.

my summary ((doom and gloom as usual) : major **** storm ahead in the next 15 years.

this is one of the reasons i felt rescinding the 1% ni increase of boris' reign was something they'll regret.....either that or we need to grow as a country and frankly with the rising number of people signing themselves off due to mental health reasons, growth isn't going to materialise. hunt cutting ni in the most recent budget only makes matters worse.

"I personally can't understand why the government hasn't already moved to money purchase schemes for ALL new joiners in the public sector. "

I''ve never had anything but a money purchase pension. The first one dived massively but didn't touch t during the sub-prime crisis. My second one did well, until the same event and then I chopped and changed so much that I've pretty much written that off and just going to let it die now.

My remaining two pensions from current and penultimate job are doing ok-ish. Much bigger pots, but less risk following lesson learnt. But the reason I mention this is because the vast amount of reading and the painful experiences with no one to blame, makes me think that shifting the millions of public sector works to money purchase pensions....is like a ticking time-bomb. They get to retirement having done F-all reading and research and expect final salary like pensions.....Errrr nope!

LLL : Would you say we're out of a wage spiral? I'm not convinced yet, and still believe wage increases to be higher than inflation.

1) Doesn't help the number of economically inactive people. There was quite a frank article in the Telegraph this weekend people should read. They alleged to have questioned some folk on benefits to understand why they opt not to contribute to the economy. Some of the comments whilst hilarious are frankly true.

2) BOE's remuneration increases have themselves been higher than the rate of inflation despite what Bailey and Pill preach to us plebs. They get Final salary pensions still unlike some of us who have to manage our own pensions with no guarantee of a pot size. (What do they do at the BoE? Are they traders).

This is a sticky part of inflation I'm not sure we can kick to get inflation below 2%.

Cefncribwr : Nothing new there. Mgmt already declared that on the most recent earnings call.

I don't mind adding a bit at these levels...small amount to lose.

Just need this story to play out. All sequencer companies are being hammered.

CaptLard : Management may have accepted that shareholders have been making noises and its time to appease them. Not just bury your head in the sand and continue the beaten path they've been doing watching the spread between NAV and SP as wide as it is.

I like the fact they're returning capital to us. There is always doubt regarding buybacks and how much value they add. Sure EPS should go up, but in the end, the open market votes.

I think the positive catalyst has to be interest rate cuts. As well, SpaceX IPO would serve them well.

I'm seeing headwinds in the Semiconductor space, so they'll need to keep an eye on ASML, NVIDIA in 1H2024.

B-w-f : What's your cost basis for PHNX? I own MNG, LGEN and want to spread the risk and not have too much in one basket......Wanted another high yielder.

SMT NAV trading 18% premium to SP.

Berenberg cuts Oxford Nanopore price target to 350 (381) pence - 'buy'

Wow! 350p!

Today's conference did nothing for them

Stocksr - Waiting for it to drop to 700p might be a stretch, given we're most likely at peak rates in the US which influences this IT.

I know I sound hypocritical, but if you're thinking of getting in, now might be a good time to enter. A bit here a bit there. By say 10% of your target this week.....Wait another 2 weeks and buy another 10% if it drops say 3%...and so on.

Your last post had "buy", this one "hold". Presume you have changed your mind and now feel a little more bullish? :)

Sitting on the fence since this hasn't reached my sell target........We're getting close to interest rate cuts (2H24), so there's a likelihood underlying holdings will gravitate upwards. But not massively for the next 2 years.

MRNA - is still a 2026 story with COVID revs dragging it down. Wish they'd come clean regarding the RSV efficacy.

Mercado Libre - results were a pain, but should find support unless the Brazil tax thing becomes a regular event.

ASML and NVDA are riding high, but that in itself entails a bubble. The AI/ML build out will pause at some point, and inventory build up will be a sign of a big dip.

TSLA - they're seeing increased signs of competition in all markets. They're cars are way too expensive for retail customers. Recent numbers confirmed my opinion that a very large proportion of their sales are lease buyers (company car.)

Amazon is stable - their AWS service is dominant along with MSFT Azure (Surprised SMT doesn't hold MSFT)

SpaceX is a promising hold. I think they need to IPO due to the need to raise funds and the thing will go gangbusters like TSLA did.

In summary, I don't see the trust price dropping to 700p again, since interest rate rises are largely done (please inflation fall to 2%!!!). But in terms of a catalyst to see a 50% rise from here over 24 months? No. Steady 5% avg growth per annum for the next 2 years

SMT is a huge IT with a history. When it falls, people love to point that out. The media will jump on it just like Woodford.

SMT needs to get out of th limelight and just trade without bias.

This year as has been pointed out, interest rate cut in the US will nudge the individual holdings up (prob 2H24), and that will raise the NAV. What the SP will do is anyone's guess since the discount isn't maintained on an absolute basis.

Whilst I have done exactly what you said, One day I'll lose.

The SP might drop the amount of the dividend, but then factor in SD and Commission either side, and it may not be worth it.

All it takes is the announcement of a special dividend and you miss.

Wow! 4% Dropped a bit since I looked last year. I was seeing rates around 6% albeit 15years +

I haven't got any spare cash.

Are they trading at par or just over? That eats into your total gain.

I had thought gilts are tax free but its only their capital gain, not the coupon payment.

Results out. Down in AH.

But that could be due to tax issues in Brazil.

RBC raises Legal & General price target to 295 (290) pence - 'outperform'

Barclays cuts Legal & General price target to 325 (336) pence - 'overweight'