Member Info for Velo

Heh hee, Heallywood,
Was just thinking about jotting something down so just checked the price - and live prices are bang on my next concern. Knock me over with a feather.

I ruminated this morning thinking: If I bought in now it's still below my last buy-in price so would not be difficult to make up the tiny £59 exit fee.

But not happy that some of the trend lines are still AWOL, so decided to wait.

The next area of concern that was holding me back is 132 to 134, and as was just checking live prices - it was sitting on 132!!! Out of the blue!

And that's a massive spike on the screen. So plenty to think about.

Larry long - Tsk! Auto correct :)

- LarryBling!

Larry long -
Adel Al-Saleh from DT, is listed as on the board of BT but is listed as a Non-Independent Non-executive director. As the others are all Independent Non-executive directors (NED's) but still on the board or 'senior' prefixes there might be something in what you say about him being just a direct line to Tom H the CEO of DT.

However the chairman of Openreach, Robert McTighe is also a BT board member and has a list of directorships on other company boards as long as your arm (as does the DT guy). Don't see any reason why the chairman of Openreach would be prevented from owning shares in BT especially if he has a seat on the board of BT. They are both listed officially as board directors.

Thanks for that link Qd22. Had to sign up for the free membership to read it but didn't tick the please contact me noon, night, and day buttons. So we'll see :)

Still haven't taken a position in CLX for the simple reason it's too expensive IMO. Margin spread in share dealing is quite large with few trades per day (under the market's radar?)

Do admit I've made this mistake before thinking a premium rated stock should be rated amongst the vanilla average PE's when in fact the market is quite happy to award premium ratings to a 'hot' stock achiever.

However, I'll settle for anything under £1. Failing that I'l keep on a watch list until CLX has some future crisis and judge on how the SP responds.

Also have you noticed that since mid December to currently, the SP has been on an ever so slight, barely noticeable, over all slant to the downside since that date? Almost imperceptible but it's there. It's nothing at the moment. And as of yet unremarkable, so don't sweat that observation. I may never get in below a £1 and instead end up paying well over it as I do like this little company.

77% of it's revenue earned overseas, and balance sheet metrics to die for.
Hope I don't cave in to temptation, and stay the course until I get my entry point LOL!

Yes, more and more reports surfacing with analysts at a loss to explain the timing of the departure leading to speculation and reports like this:

" The sudden departure of Jan du Plessis as chairman of BT after just four years is not a good look.
It is normally the job of a new chairman to dispense with the services of the chief executive. That is what du Plessis did with Gavin Patterson after a short interregnum....

.... Such wanton value destruction at the nation's flagship supplier of landlines and broadband is unacceptable.
The tension between du Plessis and Jansen has been toxic. Du Plessis wanted to restore BT's reputation as an infrastructure champion and mend the long-standing distrust between BT and its regulator Ofcom.

Jansen wants wholesale change, including the partial or full sale of Openreach, which is responsible for the nation's broadband services. "

" PS. I thought it was Jansen that was pro -selling off a part stake in Openreach - not Du Plessis and the BOD?"
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Please delete that single line from my post below. Sorry - completely misread a further post below due to speed reading.

" DT Must be itching to do something with their stake. Cash out at profit or double down on a tiny island? Sorry the U.K market is just too small "
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The years are passing and Tim Höttges (CEO of DT) own words have proven to be taken as serious:
" We are very happy with our holding in BT. Very happy."

What may have been overlooked is the significance of market share - So concerned about Vodafone's big expansionist move into Europe curtesy of the Liberty disposals, particularly Germany, that Tim Höttges resigned from his directorship at BT and installed an employee there (the chap with the Arabic name el Salem or some such) to represent him and DT's interests. So DT take their directorship in BT seriously. I have come to the conclusion that DT's holding, the largest of any shareholder in BT, is a power play and not a failed profit play. (For instance DT have a big presence in the US) I also believe DT are "happy" with their holding because they have not lost money on their holding.

They handed over their entire holding to a hedge fund for get this: "safe keeping" Hah! Yeah right :) You don't get to such a dominant position as DT and meekly accept a mega massive loss on your investment in BT whilst doing nothing about protecting your investment. I often get the hedge fund DT is using mixed up with another shareholder on BT's books - Blackrock (holds 6% of BT's total stock) with the hedge find DT use - Blackstone (I think). Without DT's huge stake in BT I'd be more certain of a possible takeover, but DT would do everything possible to derail a takeover as their holding in BT IMO is a pure power play to enable their own market share plans.

PS. I thought it was Jansen that was pro - elling off a part stake in Openreach - not Du Plessis and the BOD?

Noticed 2 directors with NIL shares in BT when I posted of the breakdown the other month. One was the DT representative but he's an employee of DT and DT has more stock holding in BT already than anyone else and the other is the boss of Openreach which raised my eyebrows. The boss of Openreach sits on the BOD of BT yet is risking not a as single penny of his own money whilst participating in high level decision making in BT. Even posters on here have more moral say in running BT than a director with a nil stake in BT.

" Like the current 3 day trading shape if SP were to close here. "

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A good close but didn't hold the 3 day pattern. Quite a rare candlestick pattern if it had held because possibility of suggesting an explosive rise as the next stage. Never mind. Odd day. Still good.

I've read: Bonds stabilised, as the reason for today's performance, then it was inflation concerns, then housebuilders responsible.

In other words no one knows with any certainty but they have publishing deadlines to meet, so have to pretend they know the reason for today's bullish performance across the market :)

For those who can't access that link below under this thread, the bit I copy/pasted reads a little better if I'd copied from the para preceding it with:

". . . . Jansen is gung-ho for change and a financial restructuring to release value for BT’s small investors (including this writer). He is keen to provide the upgraded service for workers fed up with the flimsy quality in their homes.

He is thought to be encountering some resistance from Jan du Plessis, . . "

- AND then carry on below"

Must say with 125 holding up, it offers up all sorts of scenarios, should the market tomorrow, refrain from indecision over today's rise ie.,

Friday:
London midday: Stocks slump amid inflation concerns [Fri 11:04]
So Friday was down because of inflation concerns?
Nope ->
London close: Stocks finish weaker amid bond market spike [Fri 15:37]

Ahh bonds. That was the "reason/s" given for Friday's dive.
So, today's? -->
London pre-open: Stocks to rise as bond markets stabilise [07:36]
Ahh Bonds again then?
London open: Stocks rise as bond markets stabilise; housebuilders rally [08:16]
Latest reason? -->
London midday: Stocks rally as housebuilders lifted by mortgage guarantee reports [11:34]
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Anyway, if you figure out today's mass MM's rise in the SP's (unless you were all secretly buying everything from the open :) today's current SP suggests it is neither bearish or bullish, thus begging the question was that intraday low to 122 yesterday the floor?

Should the day close on the current set-up then all of a sudden looking very lovely for going back on the uptrend, but y'know, only if bonds, inflation & housebuilders say so :)

Hmm. Could be (jumped before he was pushed).
Some evidence to suggest that he was a thorn in the side of Jansen. Found an online link to that summer article. This is the pertinent bit (there's more in the link below)

". . . He (Jansen) is keen to provide the upgraded service for workers fed up with the flimsy quality in their homes.

He is thought to be encountering some resistance from Jan du Plessis, the chairman who hired him. Neither is he getting the full support he would like from his executive team including finance director Simon Lowth, who was in place when he arrived.

There is nothing new about BT foot-dragging. Two decades ago, when Netflix was still posting out videos and CDs, UK startup Video Networks, a Stevenage company that had done deals with Hollywood to deliver up to 5,000 movies, developed technology which could use BT copper wires and offered the telecoms firm a 50pc stake.

After initially providing encouragement, BT backed out of the deal. using similar technology, Netflix has grown into a movie and production giant worth £168bn and become a must-have in lockdown. BT is beset with indecision... "

https://www.pressreader.com/uk/daily-mail/20200924/283300344984197

Notice David Dreman's Price To Book strategy (billionaire fiund manger of yesteryear) is the top performing screener strategy for this week (so assume that means today only :) and 2nd highest performer last week (it's never gotten a mention in years - as growth and tech stocks stole the show).

Wonder with that strategy being a contrarian deep value strategy whether that might imply BT too could soon come on the market's radar?

Just thinking out loud.

Thank you for your assistance chaha550 & GSmiley. Much appreciated. Thank you.

" Du Plessis has only been at BT for 4 years "

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Was taken aback in the RNS stating he joined in 2017. I thought I'd been interested in BT less than that but I had been here a good while already as I witnessed Du Plessis arrive, so am personally shocked that I've been here 4 years now going on 5 years. I still regard myself as a new boy arrival LOL! Time flies.

Can't believe when my first trade in BT in the 280's was made, that I was only one year into the great 5 year bear trend. Memory seems to make me believe it was years later I came to BT. So many stocks so many dates.... Cue song: Memories...

" but there again he remained anonymous throughout his tenure."
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- Do bear in mind as the chairman he's prohibited from espousing personal initiatives. His job is that as spokesperson for the BOD. He is his hired and fired by the BOD alone. So if his outpourings are deemed uninspiring, it speaks more about the BOD than him. Have a newspaper cutting somewhere from last summer in which the city editor of the finance page (who holds shares in BT) throws some light on the terrible time CEO's have had in BT pushing radical initiatives through against a reluctant BOD (he goes back over decades to present) and he suggested the current CEO was having an uphill struggle getting similar initiatives passed by the BOD.

Blue abounds. Loving the response in my portfolios this morning. Thoughts of the many articles on the UK being so undervalued as a market that a good punt for a general rerating come to mind. Helluva an upturn across the board so far :)

Entire FTSE market has opened up well bullishly this morning with most stocks reacting well.

Like the current 3 day trading shape if SP were to close here. But a general upbeat market day, so any previous thoughts on the SP now on hold.

FTSE has opened generously bullish this morning across the board, thus muddying the waters, as most stocks responding well so far.

On the one hand he says: "... I know the time is now right for me to step down and FOCUS ON OTHER INTERESTS ..."

- Suggesting it's not retirement at all, but then Cohn says the board are: "Sorry to see him go".

Be interesting to read any media musings on the departure. If the board are sorry to see him go why has the market/SP responded positively on hearing the news?

Early minutes live prices show SP off to a bullish flying start. Maybe they view it as an honourable 'falling on the sword' moment?