Member Info for TinkerT

Any windfall tax would have nothing to do with addressing the “cost of living crisis” and would take no account of its effect (if any) on investment. It would have everything to do with deflecting attention from Boris’s failures and its sole purpose would be to keep his boat afloat for another few months.
Tinker

Some of mine are with HL and the others with LSE (aka Jarvis). HL show the B shares clearly with their value at 101.69 as you’d expect. LSE shows no B shares and so the A shares appear to show the 24% reduction. I am hoping this gets rectified on the 19th.
Tinker

Thanks for replies. It has been a funny day. Who’d have thought that with a 450p start we’d end up down on the day.
Tinker

What was that opening at 450p then drop to 433 all about? Am I missing something?
Tinker

Chandley,
I agree with you generally. My only concern would be that there is maybe still a lingering hope among investors that Rosneft is NOT a total write-off (regardless of what the balance sheet says). If that’s the case, then Rosneft isnt’t completely priced in. Of course, this is only a suspicion on my part, maybe based on my inability to understand how we can suffer such a massive loss of output/reserves with such a minimal effect on SP. Hopefully I am wrong on this.
Tinker

Sek,
I didn’t say I had seen the coverage on BBCTv on my own tv. I sometimes see tv in other people’s houses, in pubs, the gym or other places. It is unwise to make assumptions. Re “parliamentary democracy” , “ya gotta be jokin me bruv” as the new breed of BBC announcers would probably say.
Tinker

Sek,
I don’t think I am being selfish or irresponsible. I do not see why I should pay the salaries of your brother-in-law and sister just because I want to watch the Drama Channel or Talking Pictures TV.
Tinker

I stopped buying a tv licence about 3 years ago. I would urge others to do the same. The BBC’s “values” are not my values. I do watch commercial channels so I am breaking the law. I’d rather break the law than fund an organisation that has become a real-life version of Orwell’s Ministry of Truth.
Tinker

Monaco,

Thanks for that.

I too feel frustrated that a company with all the strengths of BP doesn’t seem capable of rewarding the people who own it. In my view, it’s the dividend policy that will inevitably hold back the SP. As we all know, prices north of 400p mean a yield of sub 4% which is hardly attractive with inflation at its current rate.

Hopefully the cash generation we are enjoying thanks to p of o will attract enough investors on the prospect of “jam tomorrow” and we’ll be up to mid 400s this year.

Tinker

Monaco,
I must be missing something here. Your 10:35 post on “price dismay” slating Looney, could not be more pessimistic but by 10:52 you were saying you expect 450p by Q3 of this year. I suppose you could mean that without Looney we’d well surpass that 4:50. Is that what you meant?
Regarding Slater’s point re results, I agree that 3rd May will be unlikely to bring an immediate lift. That didn’t happen either in Feb or last Nov. But the trend IS upwards. Remember that as recently as last September we were struggling to break £3.00.
Re the last 3 days, I think we need to remember “Omicron Day” 26th November last year, when we slipped 30p in a day and recovered the whole amount in a week.
Tinker

Like many, I’m kicking myself that I’m already fully committed and can’t take advantage of the dip. Only consolation is that the buyback programme (if its still running) will be getting good value.
(I feel a bit guilty writing this, knowing that our problems are nothing compared with the misery of people in Ukraine.)
Tinker

Trotsky,
Thanks for that. I think my way of dealing with any chargeable gain will be to set off a loss in one of my other holdings next tax year..... and the way things are going today, it will not be difficult to find an appropriate loss!!
T

Trotsky,
Somebody else on this site has said that a return of capital is not a gain as such but that the £1 received for each share effectively reduces your purchase cost when you do eventually sell. So if you bought at £3.50, got your £1 back and sold in a couple of years time at £5 then your gain at that time would be £2.50 per share not £1.50.
Are you certain that you are right and he is wrong?
If you are right then, unless we are in isas or under the threshold, then we going to get clobbered for tax on a gain which isn’t a gain at all.
Tinker

I may be completely wide of the mark here but is it possible that with our results due next week, there has been a leak of bad results? Could it be that people “in the know” have used inside information to their advantage?
I have absolutely no evidence for this but it seems extraordinary that we have dropped today so swiftly and for no apparent reason.
I have a heavy holding in BP and, with their Russian exposure, I am in no doubt as to why THEY have dropped about 15% in three weeks but DLG, as people have said are in no such peril. It makes no sense.
Tinker

There used to be a fair mix on this Board ranging from sensible comment and information to cynical ramping and de-ramping. Now, it has become a forum for everybody’s favourite hobby horse. Frankly, I don’t want to know what anybody thinks of Putin or whether people believe in God or not (one I saw yesterday).

I’ll look in again in a month or two but meantime I’ll leave you to discuss what your favourite Quality Street chocolate is and who is going to win the Paralympic egg and spoon race.

T

Theaky,
No.
Tinker

Gary,

Maybe I didn’t make myself clear in my original post; I definitely was NOT trying to encourage people to buy AV! The whole point of my post was to show that gimmicks like special divies/returns of capital etc are NOT always as good as they seem. My post was BP related as people are again talking about a special divi to reflect price of oil.

The AV scheme is combined with a consolidation measure and is not as simple as either of us has portrayed it. Nevertheless, genuine thanks for clearing up any ambiguity in my original post.

Tinker

I should have said that the AV. Share price is just over 400p so the pound a share bonus is like a special divi of 25%!
T

With people again clamouring for a special divi, I’d like to draw a comparison with Aviva who today have announced a bonus share scheme worth one POUND per share. The effect on SP has been a miserable 1%. Ok, it was maybe priced in but compare BP who, 3 days ago did what it did with Rosneft. We are now no worse off than we were last Friday.
The lesson, I think, is that the overall soundness of the business is what matters. Gimmicks like special divies don’t make much of a difference.
Tinker

SFH,
Very interesting information. I’ll certainly look into this.
Thanks
Tinker