RE: UK economy might take years to recover from COVID3 Sep 2020 18:58
I agree the uk economy might take a year or so to recover, unfortunately Lloyd’s will take much longer, its literally gone From bad to worse to disastrous for Lloyd’s:
The banking crisis:bad
Ppi scandal:worse
Just got through the ppi nonsense and bang: COVID 19 Disastrous.
It’s clear to me Lloyd’s are only this price because of long term investors that have lost so much money and just think sod it we have to hold now.( they might get their money back in ten years).
With all debt factored in, and the representative bad debt due to COVID 19, i personally value Lloyd’s in the region of 17 to 20 pence.( but no way would I buy in )