Smart people buy low…Dha.
Sorry been out all day…
I am also referring to paper losers in the portfolio
Not too concerned as I know all my shares will recover in time…
Just going to pick up Dividends today…
No more trading and taking nice daily countrywalks enjoying the Autumn season no more looking out the office window wishing I was outside
Yes indeed. Usually, that editor names his source, which is often one of the news wires, but I was disappointed to see he hadn’t done so on this occasion.
Then I came across this …
Hi @Eadwig, Yes I guess that big oil companies are a bit like HSBA in that they probably have a mass of ongoing litigation and possible impairments going on. I remember looking in the HSBA accounts one year and there were just pages and pages of them.
This particular dispute just sounds like the Nigerian government trying it on to get some more money out of the oil companies - somehow that doesnt concern me as much as having to pay for cleanup of the Niger delta and associated individual compensation claims. That sounds a bit too much like BPs Macondo problem to me and I’d see that as a far more serious issue were it to come to pass. I think a lot of the damage was caused by sabotage and attempted oil theft though, from what Ive read.
It is the same for all the big multi-nationals. Litigation goes on for years and if any payment is then required it is scheduled over years too. It is part of doing business these days.
The worst to fall foul of is the US Dept of Justice who have been allocating fines in units of $1Bn since the financial crisis. Companies pay up because they can’t afford to be excluded from the U.S. market. Only the EU has similar clout.
Nigeria doesn’t have too much of a leg to stand on - they owe plenty to oilers in delayed payments, which is likely what is behind this litigation.
The clean up in the Niger Delta is a complex issue, as you suggest, involving internal politics and corruption as well as multinational negligence. Billions has been paid by companies like Shell to the local peoples there which has never ‘arrived’. That is still happening as we speak.
Also, a lot of the pollution, probably most of it, is actually caused by locals tapping into pipelines and stealing oil, even refining it in illegal operations within the delta. I doubt those criminal gangs (many of them international) are paying much attention to environmental concerns.
There are other areas of the world where multinational oilers are still in dispute about cleaning up areas polluted as long ago as the 50s and 60s. The companies are still around, many incorporated in other companies now such as B.P. who took over some of the very worst American polluters, including those responsible for tanker disasters on British coasts 50 years or more ago.
Of course, the further you go back in history the worse the abuses become. Not ‘just’ pollution, but whole peoples moved off ancestral lands so mineral concessions could be exploited. Almost all the companies who benefited from such behaviours (and the banks that backed them) are still around today - and some of the families that owned those companies back then are still among the richest in the world.
Shell has just announced a $100m p.a. policy of planting trees to offset carbon emissions by its customers buying petrol on its forecourts. Things are changing slowly.
Sounds quite nice as it goes.
Had a brief walk earlier, it was a little chilly but now warmed up.
Spending half my time outside in the sun/other half some reading and also doing a bit of trading with LLOY.
Taking it easy
I’m glad to see you can maintain a sense of humour in this respect. As you know, timing is everything with markets. Less to do with pure luck, though it can always be a factor, than many tend to assume.
BDEV was already historically high as evident from its charts when you bought. Plus UK house prices are cooling. If Brexit causes a longer downturn leading to a profits drop & reduced forecasts for house-builders… well, you already know what to expect. Chances are it’ll be another longer-term hold until markets recover their Mojo.
OTOH, as with LLOY & many other stocks, if Brexit is avoided, you should be fine sooner than later. Here’s hoping for a VG outcome much sooner. - Regards & GL.
Hi Again @Eadwig, Yes I think that big oil, and especially BP & RDSB, are getting better all the time these days. Big environmental lobby affecting both companies. Someone posted this graphic over on the LF on my thread there which I thought was interesting:-
I have been doing a bit of “yield hopping” this morning. Ive sold all my GSK (yield was down to 4.7% ish) and bought some MRCH (5.7% yield) & some LLPC (yield 6%). Going to dump my Lindsell Train experiment too and put it into RAVP (9% yield). All in all will boost my annual dividend income by close to £500 so I thought it was worth it. Several prefs there you will have noticed but I am still only at 17% so I am OK with that. If interest rates fall they will do well.
Off to have my flu jab now. Nice day so we are going to have a walk at the same time.
See you later.
Hope all is ok
BDEV Gone ex-dividend today
Picking up Dividend 5th November will do some Christmas shopping
Have a plan to sell up early 2020 around 615p plus and Chuck all into in the Mighty Black Horse for the Quarterly Dividends
Hi @regardless, Well FWIW I think that your BDEV and your LLOY will either do very well (or not) as a function of what happens on brexit in the next few months. I would put a decision to buy into housebuilders ATM as somewhat brave, but I agree that the dividend is a significant consolation.
Personally I just got a bit more defensive today in case we see some more equity downside - but if there is a China US trade deal then it might go the other way. Everything I read tends to imply that there won’t be a deal until Trump needs one to support his election campaign, so not quite yet…
Enjoy your walks, good exercise, keep it up. Don’t stop just because it gets cold…
Why not sell up now?.. and put it all on Scotland winning Rugby World Cup… you can get odds of 350-1.
Lloyds Banking Group PLC
52.27 GBX +1.57 (3.10%)
Sterling climbs following Johnson-Varadkar talks
Is this the reason for LLOY’s sp rise this afternoon?
I hope you caught the wave Soi.
Frog in a tree
Yes frog, it will continue to rise through the profit taking imo
Last 3 years Lloyds been a fantastic trading share , its been really a banker for the traders
Solid sound as a pound shares that’s been played by the Market
Fingers crossed the long awaited return to 70p plus will return over the next 6 months and finally us Long Term holders can finally benefit and see a return like the traders have seen here for over 3 years of waiting
You have it made…Congrats
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When did you write that @rossx48 ?
Hope the English is better than you use for your posts.
Hi All, Yes todays Johnson - Irish PM talks have created speculation that there can be a brexit deal. But do we REALLY believe that given all thats gone before ?.
Anyway right now after the close the GBP is SOARING (up ~1.8%) and the FTSE is tanking (IG has it down almost 1%) US markets are up (sort of 0.4-0.6% ish). What with speculation over progress on a US China trade deal you could scarcely imagine a more volatile environment and both could break either way I reckon - with significant market consequences. Everything might change overnight…
Glad I sold my GSK today (they will be hit badly tomorrow by a rise in the GBP) a day late with selling my Lindsell Train Global Equity though (that’ll likely still get hit). But then if there is going to be a deal then the GBP will likely rise still further…
These events today look to have been beneficial for all of the UK financials (including LLOY) and the housebuilders (but BDEV suffering from going XD for 36p today). But it may unwind just as quickly if someone sticks a pin in the balloon I reckon.
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Can you guess which PM was compromised?
Hey my man Spreadsheet
BDEV DIVIDEND Was MASSIVE
fingers crossed I see 600p plus sooner than later