In one word
YES YES YES
In one word
YES YES YES
Just to complete the above, I just experimented with this on all the brokers I use… and probably as to be expected… no differences between any on the quoted prices (for a purchase at least) or indeed their quoted spreads for the pref shares I tried.
Think I’ll stick to limit orders anyway.
Hi @J_Westlock, The official spread figures should definitely be the same for any broker, prices maybe not - could depend on the set of market makers used.
Good to hear that all the buy prices were the same, and not the top of the official spread I hope ?.
I have rarely used limit orders on prefs. But I have had problems with them NOT being triggered at the right time on Investment Trusts. Eg You set a limit order to buy at X, the live price drops below X but the order is not triggered. Can’t say if this applies to prefs as well, but it might…?
It seems that today’s Cabinet more resembles a primary school lesson with chanting in unison than a meeting of adults.
What a shower!
Frog in a tree
Well… not the topmost but 97% of the way along the official spread for a purchase.
I have only once had a problem that wasn’t my own making… and that was a few months back when I noticed a sell limit order didn’t execute despite there being about a 1 hour period when their bid price was above my limit price… and this was a very liquid share.
I noticed a couple of days later so asked them about it and it was a ‘back office manual error’. I was surprised to hear that as there appeared to be some manual intervention in the process as I thought it would be all automated… at least that’s what I’m used to in the world of futures and options.
Anyways… by this point the stock had risen again and I’d sold at an even higher price… which is why they didn’t give me anything back.
That’s just once in over a decade of using limit orders.
As I’ve said I only ever really use Limit Orders as most of the time I’m only paying attention to the markets a few times a day and when I’m looking to buy I already know the highest price I’m willing to pay.
As Pref mentioned, probably surprisingly these changes went down well yesterday with GBP rising but that looks like being wiped out by end of the day.
I’m sure that the new Chancellor’s contacts (family and previous workplace) will have had a field day on their FX trading.
Shower of what? Go on, say it, I agree! Josef Koba Johnson I was not expecting!
This could get interesting.
Flying down again.
Down 1.67 %.
What a shower
Over 2% down now
Thankfully I dont need the money
Maybe the 1 day fall a touch overdone.
Could have a dead donkey bounce.
Maybe back above 57 before a further drop.
Spitting bullets here
Yesterday’s I called the rise inspirational
Today I cannot dare to type how I feel
Going out tonight and not taking the phone out to stop me posting rubbish that I might regret in the morning
Have a nice weekend all
Turning off now gutted
Soi is not around with his/her charts so I have no short-term clue. I do still have some accrued dividends in the ISA so, if/when 53.99 I’ll get very tempted. Obviously I’ll never get 53 anything because I never buy on a down tick but that is the nature of my short-term ‘mad’ money.
Pointless in the bigger scheme of things but just enough to keep the brain ticking over in the meantime.
I prefer your posts when you’ve had a beer.
Since Antonio hit his bonus share target of 73p back in 2014 he not mentioned the Shareprice since then in his annual updates to his shareholders
Maybe he is too ashamed to admit he gave little return to the share price since
Well @regardless, a big disadvantage of having all of your money in one stock is that when you have a bad day its REALLY bad and affects every penny that you have invested. You have made a paper loss of 2.5% today, thats painful, but it IS the route that you have chosen. Your dividends will be good though with LLOY yielding about 5.7%.
If you compare that with my portfolio I have close to 40 holdings and none are very large amounts. The yield across all of my holdings ie total annual dividend income / total value is currently ~5.9%. Today my portfolio was UP ~0.25%, not a fortune but I’ll take it on a day when the FTSE was down. With 40 holdings invested in a wide range of different sectors hopefully its unlikely that I will experience such a large portfolio loss in a single day as you have today. Thats the advantage of diversification.
Of course when LLOY has a good day then you get ALL of the gain as well, whereas my gains are always watered down by the diverse nature of my holdings.
As I said in a previous post while you retain your single stock approach you will have to be patient and live with the disadvantages. But there have been very good days too and I am sure there will be again.
Enjoy your weekend.
That’s my personality really
I am a all or nothing man… just ask the many broken hearted ladies I met and left.
Never do things in halfs
My share history
11 years of patience and waiting / watching like a Hawk for the right prices to trade BIG 2 or 3 times a year made me good returns so far.
No trading below 67p so happy to entertain everyone and pick up any Dividends that are hopefully going paid in the meantime.
NOTE TO EDITOR
still holding some power for a big collapse if update is not up to markets apparent high expectations this quarter with Banks… they clearly want some skin going forward
LLOY sp flying again.
Downwards by 2.45 % today.
At least the old donkey is getting nearer to a realistic price.
Yes, but I still have sleepless nights about YOUR strategy, even though I’ve seen it pay off for you.
There are other posters on ii, or there were, who had similar strategies with all their eggs in one FTSE 100 company basket in the belief things couldn’t go wrong. Some of them are no longer with us as investors. Any company can fail with no warning. In fact the larger and apparently safer the company the more their accounts can hide and the more the auditors miss, it seems reasonable to say.
There’s a tendency for companies to keep on saying things are going ok and the dividend is safe etc etc right up to the point when they announce a massive loss and kitchen sink it with the suspension of the dividend, the cancellation of the buyback and a massively diluting rights issue.
You’re left with the choice of throwing more money after bad (if you have any cash left and any hope at all that the company may turn it around) and the only satisfaction you have is the resignation of the CEO (with a £25m golden parachute).
It has happened to me more than once, and in companies credit rated AAA (that supposedly means as safe as cash, by the way). Fortunately I’ve rarely ever had more than 5%-6% in any one company so although the losses are painful, I live to fight another day.
I’m not saying that is going to happen to LLOY, and they should be especially safe with the yearly stress tests they are now obliged to conform with, but why take the chance?
I know. I may as well talk to the wall.
Why not give over the whole of your portfolio to a professional manager? Its about big enough I would think and you’d be ‘all in’ with him or her. Just tell them you’re looking for a 5%+ divi payout per yer and you’re in for the long term. Then get yourself a hobby.
Hi @Eadwig, Yes but these “professional managers” want to charge you 1.5-2% of of your portfolio value per annum to manage it typically. Thats quite a scary figure - but perhaps not as scary as @regardless’s strategy !.
Re your other point @SteveShares & HSBA comes to mind. HSBA results day on the 18/2 might be a big day for him, one way of the other. He seems totally unconcerned with capital losses though, as long as he can keep taking his SCRIPs and increasing his share count (and income therefore) he appears 100% confident that the share price will recover - indeed he has seen worse times with HSBA so maybe he is right. I’m afraid that I am firmly wedded to “capital preservation” these days myself though, even if it does cost me a bit sometimes. He & I clearly think very differently.
I completely agree with you and others that diversification is a good strategy. All companies will die someday and all of them will suffer downturns from time to time. Maybe LLOY is at the bottom of its cycle and is reasonably safe from a further downturn but it can’t be guaranteed. I hold a decent slug of LLOY and don’t lose sleep over it. I get a good flow of divis.
Although Regardless’s strategy is conventionally risky, I suspect that anyone who had held only Shell since the end of WW2 would have done well if they had remained invested and reinvested their divis back into the company since during this period they have never cut their divi. A rarity, I think. Not too many companies with such a record.
Frog in a tree
p.s. I note that RDSB has a yield of 7.61% at the moment. Even with the end of oil on the distant horizon, given that Shell has never cut its dvidend it looks like any newly invested money will go on earning 7.61% for the foreseeable future. Is there any better investment offer at the moment?