RE: UK economy stumbles in August9 Oct 2020 20:17
Evening Asperger. Forgot to say - many thanks for doing that charity competition a while back. Big effort. Seems ages ago and so much has changed.
Since you asked about my shennanigans in the stock market, the long and the short of it......
Note: I do not mean to ramp a stock, this is me simply rambling so don't take anything as advice or suggestions (to those newbies on here).
I have to say that 'cos over the years I have noticed BB's like this and loads of others are 90% bull*hit posters who have absolutely no clue what they are doing or talking about but it makes them happy to see their views in black and white, I guess. Only the LTH's are anywhere close to talikg credibly simply because they have had time on their side to optimise their investment.
My dodgy stock:
Quindell (on AIM), the CEO (for those who didn't read about it), basically committed massive fraud and ripped all the PI's off for every penny they had invested. I lost about £10k. But it was something I could suck up at the time, so tried to learn from it and move on. Some couldn't move on.
Years later, SXX. Everyone has heard about this failure. Through no fault of the founder but he simply misread the market and really struggled to get finance. I recall several posters on there had sunk the kitchen sink and lost everything...every single penny. I saw the writing on the wall and managed to extricate myself by a whisker (I think about a month before they went under) and came away with about £28k profit.
In the background while all this was going on, someone had cross ramped Solg on this very BB. I spent quite a while doing some DD and am still with them today (after 7 years!!!). Solg is now on the cusp of igniting and is going to make a lot of people very very rich. I have a reasonable holding there. Enough to 'not worry' shall we say. And of late - the miracle stock: GGP (Greatland Gold). This minnow has literally struck gold in Oz. I sold most of my LLOY to buy into GGP after selling at a massive loss (I bought LLO @ 58p about a hundred years ago!). In 3 weeks I recouped that loss and more. Still can't believe it has happened. More to come too. If this goes past 30p, I'll be 'in the club' so to speak.
I love(d) LLOY, solid company, great divis. Government ruined it. They bled all the brit banks dry with the PPI scandal, deflecting the hit that should have been covered by the FCS. Now the government are setting the banks up for their 2nd fall - covid loans. After that - brexit will cause more debt and the banks will be expected to save the country again.
Maybe in 5 or 6 years time when normality returns....LLOY will rise from the ashes to become the great bank it is.
Then I'll 'come home' Asperger.
Stay safe buddy.
Z