Menu
Close

LLOYDS is going to FLY

lse:lloy

#1097

Hi @swamp_rat, Yes I agree that 1/4 pt cut was priced in but that the market was expecting a further sequence of cuts - but basically Powell said in the press conference that this wasn’t guaranteed, that was what made US markets fall post the decision.

BOE meeting today and they might do something but unlikely with brexit as it is, but we’ll see at 12:00.

With so little time before the 31st October no deal is now odds on favourite IMV. Economic disaster or not. So also seems odds on to me that the GBP is likely to fall further now, that’s what the FX sites I have looked at seem to be saying.

All in my personal opinion / conjecture obviously…

Might do my Brookfield purchase this afternoon now, should have done it yesterday but there you go…

ATB

Pref


#1098

Flying again.

After a 3.5 % drop yesterday, now down a further 1 % + today.

BARC doing OK though, better company.

soi


#1099

Hi soi
I posted when i got some for 52.3p yesterday i can not see lower then that today .
But if they do please alert .


#1100

Hi Ripley

I am talking about down 1 % from yesterday s close. 1.27 % down actually.

ATB

soi


#1101

Thanks soi
Yes I did get that, and I was just geting ready to buy again when I saw your e-mail.
Please let me know when it goes 1% under 52,5p


#1102

Lloyd’s is going to fly in year 3000 :slight_smile:


#1103

The UK will be the 51st state of US by then and Lloyds will have been consumed by JPMorgan.


#1104

Fingers crossed


#1105

Hi All, Well I went ahead and did my Brookfield REIT purchase this afternoon as a bit more GBP downside protection, but of course the GBP has been recovering slightly since…

Income investing is subject to horrendous charges (like everything else to do with overseas share dealing it seems to me). Not only do I have to lose 15% due to the US withholding tax but Hargreaves will charge me another 1% to convert the USD dividend to GBP, making a total 16% withholding tax on my dividends. This will reduce an otherwise tasty 6.9% dividend to a still acceptable 5.8% for a US investment.

Of course Trump has been busy tweeting today which has crashed much of a Wall St and the GBP is back up a bit since I bought. But I confess I still think the GBP is likely to move lower, and this purchase is further insurance against that possibility.

ATB

Pref


#1106

Some USA investment banks, Goldman included, are looking for retail outlets in smaller markets - and they wont come much smaller than the UK very soon. It could actually be a way out for some underwater LLOY holders.

… or even underwater BARC holders like me - except no one is going to offer enough of a premium on BARC to cover my losses.

Only reason I’m still holding them is I’ve never come to a point where I actually needed the cash in my trading account as yet so never sold on the assumption they’d come back at some point. In fact they did, but I stupidly held on thinking they would keep improving and maybe pay me for the years of no returns … then Brexit came along …


#1107

If you fill out a W8-BEN form (I think its called) as most brokers provide, you will NOT pay the US withholding tax. I just renewed mine on ii today, runs to 2022.

I just need some US stocks that pay dividends now and I’m all set!


#1108

I think it probably will too. But I’m loathe to buy stocks priced in US dollars at 1:1.21… but then I was saying the same at 1:1.29 …


#1109

I bet we’re all guilty of that one. Only today a dreaded silver short just about broke even only for me to cling on with the hopeful thought it would continue falling. A few hours later, boom, back in the depths of the negative.


#1110

And the opposite too. I.e. selling out with a sigh of relief when a stock that was underwater for ages finally gets back to break-even … only to then watch it rise another 50% over the next couple of years.

Happy to say the last time I made that mistake was with Ryan Air, which is a long, long time ago now.

I don’t mind (too much) missing out on some profit so long as I hit my basic target of 15% return p.a. I was never going to get that back from BARC bought in 2009 so it was a silly mistake, really - although I hadn’t then grasped just how bad Brexit would be for UK banks.

I’ve also been waiting for BARC to actually turn around its investment bank and capitalise on the USA side of the bank that is still in place. Management has been pathetic though, which I also hadn’t fully grasped at the time.


#1111

Hi @Eadwig, Sadly what you say is true for holdings in a SIPP but NOT in an ISA. Filling in an W8BEN (which I have already done) only reduces the withholding tax to 15% from 30%. See link below:-

Its still worth doing it though, ~5.8% yield on a fully US investment totally priced in USD.

ATB

Pref

PS Hope you still have that FTSE short running, might do well tomorrow…


#1112

Hi All, Well what a surprise US futures have opened up after a solid post trump tweet driven afternoon of down. I can’t help wondering sometimes if US traders get their memory wiped at the end of each trading day because it’s hard to credit the market heading steadily south all that time and then opening a couple of hours later in the green.

Not complaining though, just find it very strange.

ATB

Pref

PS Didn’t stay green for long, marginally down now after 25 mins…


#1113

Ah yes! Because you can’t hold dollars in an ISA most of my US holdings are in trading or SIPP account so forgot about this.


#1114

Hi All, Well not looking like being a great today ATM. IG has the FTSE down 1% and the STOXX 50 down 1.92%, Asia down overnight Hang Seng down 2.23%. US Futures currently down sort of 0.2%ish but US indices were down quite a bit yesterday.

None of which says anything specifically about LLOY except that I suspect it may follow other things lower.

I see the Conservatives lost the bye election yesterday so Boris now has a majority of ONE, Lib Dem’s won and Labour came in 4th place behind the Brexit party. With those kind of results who knows what would happen in a general election !.

Going to do some gardening, watch the golf and have a walk to the pub I think…!

ATB

Pref


#1115

8000 majority over-turned. The Tories are claiming a ‘Boris Bounce’, unbelievably.


#1116

Hi Ripley

It is about 1 % down on your 52.5 level now.

GL

soi