Anyone see an article in Financial Times
About Lloyds ……ref Mr Samuels Judgement ?
On HBoS Disaster
Please print a copy?
Thank you &
I made the same mistake initially as you, @trader_jack, thinking they may be under the same company, so I checked on the link that soi gave in a previous post which allows you to search on a company name and then all trade names and associated companies are listed. Interactive Investor and Interactive Brokers are NOT the same business trading under a slight different name.
This link allows you to check if the outfit you are with is truly independent and thus has an additional £85k FSCS independent coverage. Two brokers under the same parent company = just one lot of coverage, so no good for the purposes we were discussing.
Yes, well, I made my position clear on that one.
Personally I sold my inherited BDEV stock @633p (£437 commission + £1 levy!) back in August and held on to PSN for now. I wanted to sell a similar value of PSN stock, but the executors have managed to mess things up and missed the recent short-term highs, so I have told them to hold splitting the PSN stock, which seemed to confuse them terribly anway. Rarely have I had such a frustrating time involving stocks.
Looks like we may be holding PSN all through Brexit (31 Oct?) now and then may as well wait for the 235p divi in the first half of next year before making a move.
Reason I would hold PSN over BDEV, is BDEV are near their highs where as PSN are right off their highs and may well come back if they make a decent job of addressing their recent quality issues.
I’m unsure why BDEV have been doing so well, I’m a little out of touch with the housing market as so far as I was concerned I was out of it for this cycle somewhere back in 2017 (apart from a few plays on social housing which have now gone too).
Having had the unexpected inheritance land on me with around 60% of the total portfolio value in housing and 67% of that in PSN, my main focus has just been on selling down what I could at a reasonable price before a potential Brexit disaster hits the value. Hits the value more than it already has, I should say.
At least there are some utilities in the rest of the portfolio that are a hedge against Johnson getting established. They will bounce back if that happens I think - although I already took a profit in NG, SSE and CNA remain.
Hi @Eadwig, But DO check out the protection provided by Interactive Brokers. As a US company it protects investors under a US scheme (cant remember the name ATM but I’m sure you can look it up) and as I recall it provides HUGELY greater protection than the FSCS £85,000. If you are worried about having full coverage this might be to your advantage ?.
DO look it up…
PS there Ive done it for you see the link $500,000 protected $250,000 in cash in the US SIPC scheme by the look of it…?
I believe that’s correct but DO DYOR etc.
I shall do - I assumed there would be little protection for a non-US citizen and wasn’t really looking at them seriously therefore.
I do want to use up my ISA allowance which they don’t provide for … but I could easily use it up here and still place plenty more in another broker to help split the (small) risk of them going under.
They could well give me access to several ETFs that I used to use on occasion that I can no longer access via ii, so the US stocks thing may be a goer as @soi suggested.
Speaking of which, I have a limit order in for my SIPP to use up all my USD cash in that account buying Facebook if they dropped to $172 today - but looks like they’re already on the way back after this latest hit.
All the USD in there currently has come from FB trades and its getting quite sizeable now (relatively speaking in a small SIPP). I do have other US stocks in there, but they’re long term holds that I wont be converting into cash anytime soon - hedges against further damage to GBP.
Of course, I wont be able to transfer those holdings out of a SIPP if I go with Interactive Brokers, but I do plenty of US-based trades as you know so it is certainly worth thinking about for this new money coming my way.
Shame I can’t just bank it and live off the interest, but those days look like they may be gone forever for my generation, just as we were getting old enough to start thinking seriously about it …
Anyone know how the court decision about women’s pensions went, by the way? I got a LOT less notice from the government about my private pension age being extended from 50 to 55 than women did, so I reckon I should be in for some compensation if they are!
Fat chance! Even if they do win. No one ever hands cash over to me because I didn’t bother reading my post from HMRC - quite the reverse, in fact.
Only bit of good news recently is that Spreadsheet Pref is back posting on here
Welcome Back Soldier
Hi @regardless, Well thanks for your comment, it is most welcome. Sorry if you’ve had a tough time lately. I’m sure you will come good in the end…
Hi Frog, Well you tempted providence when you posted that your portfolio was at an all time high. Mr Market saw that and decided to wipe the smile off your face I think !!!. Trouble is it caught all the rest of us too… Seriously though start of October seems a common time for these big corrections, something to do with US financial quarters I suspect ?.
9 months of dividends, thats 3/4 of a year - if your portfolio yield is say 5% that says this correction has knocked you back 3.75% ?. Thats almost twice as much as Im down over the last week which is 2.08% - but my portfolio is pretty defensive these days I guess, deliberately so.
Surprised to hear that you havent made more out of TRIG I thought I remembered you buying in at the 114p offer stage ?, maybe Im wrong. Been a good pick for me - Im up 22.5% in Total Return terms !. Latest placing oversubscribed too, so I expect to see it back over 130 soon enough.
Honestly Living the Dream
Not working YES
And no more the clever boss telling me I am falling behind …
Today, lovely river walk along the river crouch today at Althone in Essex
Everyone is a WINNER
swamp_rat “I’ve always liked 52.5p but you may not see it again.”
Only took 6 days, bought at 52.0p and 51.5p. Will I get the sixth tranche at 49.0p.
Its not that bad that I am shedding tears. The loss of 9 months worth of dividend income means that my balance is back down to where it was on 10 September. There has been quite a big rise over the last 3 or 4 weeks. Easy come easy go! I don’t depend on my investments.
Near as damn it down 3.75% as per your calculation.
Frog in a tree
Article Lloyds Bank
Monday 1st Oct
Good buys @White_Rose, I hope Boris gets a deal now and it hits 65p for you and everyone else.
Hi All, Its when market falls such as the one that we are experiencing at the moment happen that I thank my lucky stars that I am an income investor. If you want to make any money out of a growth investment then it seems to me that you have to be forever asking yourself the questions “has this topped so I should sell now ?” or “has this bottomed and is it time to buy back in again ?”. If you don’t do that that then they just oscillate up and down (yes probably growing a bit each time) but losing most if not all of the gains each time there is a dip.
I guess if you are really patient the charts show that you get a good return in the end. If you look at SMT, if you’ve held that for ten years then you would have made a 500% gain. But as they always say with investments, past performance wont necessarily be repeated in the future….? And at the moment if you bought SMT after May 2018 then you will be currently making a loss if you just it held continuously (well unless you bought in the December 2018 dip).
Whereas as an income investor I just pickup my dividends at regular intervals and re-invest them at the low prices prevailing during the dip, with solid confidence that when the market recovers my portfolio will have benefitted. Yes I need the market to recover for that to happen – but that’s pretty much guaranteed I think, mostly in a pretty short time. And with my approach my portfolio income is monotonically increasing (ie it goes up ALL the time), the capital value goes up and down but I don’t really care about that (well within limits…) – I’m never going to take it all out and spend it after all.
I guess that I’m also not sufficiently patient to wait around for 18 months (as with SMT) sitting in a loss making situation.
Good morning Prefinvestor,
How are you? It’s been a while.
I suppose that we are all in our differing ways hoping to find the gold at the end of the rainbow, If you recall about 18 months ago I sold out of most of my individual company shares, leaving just 3 that are held within my ISA: HSBA, LLOY &VOD. No need to highlight how they have performed since but thay do pay decent dividends.
All my other holdings were sold and reinvested in IT’s both inside and outside of my ISA. One IT was sold BNKR (prematurely) to cover the cost of my new car in January. Not a good time to have sold but I did need to renew my car as it was showing too many signs of ageing (rather like me I guess.)
I keep a spreadsheet although I do not claim it to be 100 percent accurate it does (I have not updated dividend reinvestment for a few weeks now) give me a pretty good indication of where I would have been had I just held on to the old holdings and how my replacement IT’s are doing by comparison.
As at 30th September the old holdings would be showing me an overall loss of 6.03 percent from the dates they were sold.
On the other hand the IT’s I purchased FGT, MRCH, SCIN, SMT, SHRS & WTAN are currently showing me a 12.08 percent overall gain with dividends reinvested.
Obviously some are performing better than others the slowest performer is SHRS with a gain including reinvested dividends of 1.6 percent and the best currently is FGT with an overall gain of 30.5 percent.
Until recently SMT was far and away my best performer The current annual yield on all these IT’s combined is calculated at 5.99 percent p.a. which would chime with your preferred investment ideas.
p.s. I still have my holding in VIN. I must admit to giving some thought about whether or not it would be better to sell out and reinvest in a more conventional IT more for my granddaughter’s JISA than my own holding.
Hi @trader_jack, Its good to hear from you and good to see you posting again. Hope that you are in good health and enjoying your new car !. Things with me are much the same as ever gardening, walking, playing with grandkids and posting on investing web sites. I tried a full time move to the Lemon Fool for a while which IS better in some respects – bigger community, tight discussions on most stocks/investments (lets face it many boards here are dead) but while I am still active there I have returned to posting here because there is nowhere there to discuss adhoc topics – and if you do they tend to get deleted as off topic !.
Glad to hear that your investments are doing well. We have both taken a similar course really reducing our single stocks to a small number and moving into collective instruments (ITs for you ITs and ETFs for me). I think that this is a much less volatile and better way to invest than holding single stocks which are just an investment minefield.
Regarding your single stocks, personally I would not invest in either VOD (reduced dividend now, too much debt, huge infrastructure costs and not convinced by the tower sale) or LLOY (Brexit afflicted and at best range bound as per my posting the other day) but I have some HSBA though these have not done well either. But each to their own obviously !.
Regarding your ITs as you know I don’t invest in things that don’t pay a decent dividend, so the likes of FGT & SMT are not for me. I did give SMT a try last year (my old HY spreadsheet tells me I bought for about 530 on 31/7/2018) looking at the performance had I held till today I would be down 7.8% now. I’m afraid SMT, FGT & MRCH have all been hit pretty badly by this weeks correction, as I’m sure you know. I too hold SHRS which I bought on 22/3/2018 and this has done well for me and I am up 12.5% in total return terms. Your others I haven’t followed so I don’t know how they’ve done.
Personally I have invested in quite a lot of things that are not correlated to the main markets. For instance I have five holdings in different renewable energy trusts and a similar number of Debt related IT investments plus a few preference shares. These investments have by and large completely ignored this weeks downward move in the equity markets helping me to minimise any losses. But of course they don’t benefit from equity market gains either – but do pay a 5-6% dividend rising with RPI in many cases.
Hope you keep posting and be pleased to hear what else you are up to.
PS And yes I dumped my VIN a long while ago when it was just drifting down and potentially affected by the brexit commercial property risk. I concluded that the attraction of the selling at full NAV is too far distant an attraction.
What makes you think they will not cough up ?
That way we all indirectly chip in for Leonard Curtis £35 million bill.
They sent out statements with some shares missing last week , put that right this week .
That makes sence when they are charging per hour lol .
Thats the game to be in not investing and taking a risk .
How hard is it to retrieve statments .
Yes but I am hoping negative sentiment about global growth and volatility will trigger all limit orders down to 49p and then bounce to a Boris deal.
Is the last two days a dead cat bounce?
On another issue, I wonder why the UK government does not just leave the Irish border issue to the Northern Ireland MPs. However, the Scots will probably object to this.