Member Info for TrekMadone

Hi bobash,

This may help. It’s not a tangible loss…

“ As the gain or losses on the speculative transactions are to be recorded immediately, it may result in an initial loss at the balance sheet date and subsequent gain at the end of the contract period or vice versa, which creates complexity in the accounts.”

Definitely succeeded in achieving ‘complexity’ but the point is it’s not a physical cash loss or gain for that matter on the balance sheet until the transaction completes. For many hedges the end date is indeterminable as they can be rolled, swapped or further hedged.

It’s nonetheless a good question as the market doesn’t get DEC hence by pretty much any metric DEC is cheap but you can’t have it both ways! Cheap and absolute simplicity!

Punters here though see through the complexities and folk like myself have for me at least a significant holding, my second highest position!

https://www.educba.com/accounting-for-derivatives/

Usual caveats

Trek

Added back at bell following PDMR today. Picked up some others as well so not too overweight here and have some cash.

Was too far ahead of self!

Still lower average and will be back in profit well below 600p even after those trades went against me, incidentally for the first time here!

Usual caveats

Trek

Hi,

I don’t have an issue. They corrected it. I think it was lack of knowledge by someone on the helpdesk. I posted the email exchange here back then.

Moving on…

I notice that Stifel bought throughout the day yesterday. Amazing sp didn’t finish higher. I wouldn’t be surprised if someone is selling into the buyback. I would rather they just contacted Stifel and sold the lot if that is the case!

Usual caveats

Trek

Hi Temple,

Surprised you haven’t had a go at DEC. Nice postcode and gas. Hedging means missed some upside atm but they have just started buying their own stock on buyback. I’d rather they made another acquisition but all said the hedging covers the downside and debt is managed plus a 10% yield delivered quarterly like SePL.

You can look at their last investor meetme slides.

I am 50/50 across the two for divi payers. I see sepl announcing increase of payout end of this month.

My only other O/G play is TXP. Still watching the paint dry there but I was in very early so it’s just the shade of blue that varies!

I don’t like funds/ETF’s etc don’t like paying others to invest for me other than my pension obviously!

Good luck with your investments

Trek

If they were exposed they’d have to advise the market by now. But it’s all open to interpretation.

Like I said I took some off and don’t mind paying more to buy back but atm we don’t even know what we think we know. The situation could change again. Although PHNX may not manage third party LDI’s like LGEN do and I believe their exposure is less as I posted before but the hit is sector wide. It’s just the falls that have varied.

When this is understood then Phnx should have the strongest bounce. But when? Technically and even on a news basis it should have been today but it hasn’t looked liked coming back through 550!

Usual caveats

Trek

They’re all awful, reds, blues, greens and yellows. What we’d do if a party that had common sense and long term planning eh! Obviously no one would vote for them!

We all want our kids to pay for us boomers! Kick the can don’t invest don’t seriously reform tax, xenophobia around immigration, heads in sand with demographics and impact on health and labour force.

I could go on as could all.

Looks like the next choice is gonna be another flip to find the most sensible choice amongst the nonsensical options!

Flipping Boris has so much to answer for such an irresponsible toff! He had all the open goals and his behaviours are what have taken us here!

I will give Truss and Kawsi credit for changing their minds and admitting they were wrong. That’s a new one in politics albeit after the horse… and they really didn’t have a choice!

Starmer gotta improve his narrative as well. Energy GB unfunded unclear. Windfall tax on O&G that already pay 65% tax, really commodities are falling!

There really isn’t much difference between unfunded tax cuts and unfunded current account spending. The net for both is still more borrowing, higher inflation, higher rates, weaker currency…the doom circle!

And sadly most is avoidable with planning and then the markets will reward!

Usual caveats

Trek

Don’t know if anyone has a nibble at Txp following my post Sunday at 1017. Likely has further to go imo.

Usual caveats

Trek

For transparency sold over half my holding today for a 10% overall loss. The market had a false start this morning. I may be able to get back cheaper or wait but still have a foot in the door. I think there’s more to come and until we hear from the insurers the SP’s may drip lower.

ft alphaville….

https://www.ft.com/content/a5106b84-ca28-4e81-99f8-0106322afc11

Weekend reading has raised some concerns about junk bond exposure. However, I am pleased the govt have had the courage to go back on tax plans. I hope lessons have been learnt about their hubris and ignorance.

Have used some cash to add over at DEC/SEPL to balance income. Rest in trading pot.

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Trek

125k shares into treasury for cancellation. I think this came at the right time as given the excellent liquidity here and the sp ascent I wouldn’t be surprised if some of the insti’s were sellers to cover their margin calls. It would make sense to slice positions where you could rather than crash all of your holdings.

125k isn’t much but it’s a great start and we may or may not see some TR1’s later.

Usual caveats

Trek

Hi Jim,

I am with ii, I asked them the same question and they initially said as stock was isa applicable no need to sign w8-Ben form. However, when I queried and sent them examples, HL and DEC website, they apologised and said I need to complete w8-Ben form to offset tax on divi.

It was easy to do. They had an on line form with an example and it’s actually worked.

Good luck with your investments

Trek

Imo best explanation so far

https://bondvigilantes.com/blog/2022/09/collateral-calls/

Trek

I have no political allegiance. Have voted for all.

But totally agree tax cuts have been unnecessary and actually as posted likely cost higher earners.

My view on tax is bottom up with the first 16k free of tax. That’s equality for all and then a staircase!

As for borrowing one should only do that ti finance capital projects like infrastructure not to pay bills!

It’s a shambles!

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Trek

Oh here’s a potential opportunity. See post from Scott22 on TXP. Looks like coho well to be connected in days.

Sp near recent lows should get a bounce which will likely be sold into but offers a trade plus a very good long term growth energy play in Trinidad.

I think producing gas in ‘non European safe zones’ with stable governments is probably one safer macro economic outlier. Especially if they have a divi policy like DEC (USA) or SEPL (Nigeria), two growth countries as well.

For transparency TXP is my biggest holding.

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Trek

I don’t get how these tax cuts benefit the rich or even us that are probably better off than most.

Losses, note most of these are big tickets!

Many income shares down 40% or more and ftsee below 7.
House prices set to fall 15%
Foreign hols now 20% more expensive
Gilts down 20%
Interest rates set to rise to 5.5% hurts if you have a mortgage but if you have savings a small benefit that will then be completely wiped out by inflation!

Gains

40% tax as opposed to 45%, well I don’t pay much anyways so no gain there and I doubt many pay 40%!
Corporation tax 25% back to 19% (from memory) nope doesn’t affect me or many others I guess.
Tax thresholds frozen … well that’s actually an ouch!

So how the press can say this is a budget for the rich when in actual fact the more you have the more you would have actually lost in financial terms especially if you have Stirling with fx losses and property with huge drops expected is complete spin. It’s actually misrepresentation of reality. Don’t get me wrong I get why, no sympathy, sells newspapers, folk won’t get it or even care and I am not asking them to…

And of course those with less have less of a buffer so fiscal and monetary changes impact them more together with loss in public service levels and the impact is immediate and real. Mrs Trek and I do support and volunteer at our Foodbank and we have a diverse family.

But my point is not about rich over poorer and I note the press are hell bent on bringing back social class narratives and exploiting divisions looking for devils etc bit in reality there has actually been no winners, well as far as I can see.

I don’t like the rhetoric or the us and them narrative when we we should all be pulling together through this. Starting with a U - turn or at least showing us the workings as it’s like a decision has been made and now go find the math!!! Hence no winners.

Not even the economy albeit its early days but if pensions fail we all loose, and the fundi’s are complicit again gambling with our money and it’s another example of excellent regulatory incompetence!

Gosh, I am on my Sunday newspaper soap box today! Lol!

However, I’d be interested if there are any winners or am I missing something? Or indeed are there any opportunities here for Tecan other than shorting Stirling which I have no wish to do!

Enjoy your Sunday!

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Trek

Yea that’ll be another two months of political dirty washing on terrestrial tv to look forward to!

It’s been an absolute circus!

Human leaders the world over succumb to the sin of hubris. They’d rather do anything than loose face. Whether it’s Xi, Putin Blair, Boris or Truss they don’t see it. Whoever gets in succumbs to the same monkey on their shoulders! I’m not for turning, mustn’t appear weak, need a way out to save face. That’ll be the day when I see any of them take the biggest decision. To say honestly, sorry I got this one wrong and move forward!

Just as well draw straws on which ones to vote for next time!

But one thing is for sure I will be voting. Whilst it’s not a perfect system it’s better than no choice!

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Trek

If it’s equity sales they probably are as there isn’t the liquidity for many ftse250 stocks.

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Trek

Well it just looks like we may have got away with it. Half past two on a Friday…ffs!

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Trek

Been in save a while average was 8.2p. Have sold down from 38p.

Need income now as a priority and have focused on quarterly payers.

Trek

£245k sell through in two lots. Didn’t realise there was the liquidity here for that size!

Usual caveats

Trek

Don’t blame you LV. I thought there must have been an rns by the drop today but alas I think the ‘fk its’ have set in here.

If they can’t get this simpl task away then it really doesn’t put T&T in a good light at all from an investors perspective. As for PB he just as well say nowt coz every time we are told something of late the landscape changes! That’s being polite!

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Trek. Holding!