LLOYDS is going to FLY PrefInvestor1: Hi @Eadwig, Well if it is the long awaited correction it’s getting started slowly, US indices bounced back and even the NASDAQ ended up only 0.6% down. But the economic effects of the virus will likely be long lasting. That said staying heavily in cash is not my style… @PrefInvestor1 There will be more results tomorrow and more uncertain forward guidance, and again over the next few days and weeks. Goldman made a prediction, published in the FT a couple of days ago, that this process could/was likely to start the correction (I didn’t actually read it). The other view, an answer given each day by the ‘markets guest’ on BBC biz radio news every morning is that investors have confidence in central banks to coordinate actions to offset any affect from the virus fall out. Given that the global economy was already in slowdown mode, I’m not so sure. I’m trying to be patient and not buying stock for the longer term on immediate drops as I’m sure better opportunities will be on the way. There was some pretty panicky news with regards to the Chinese economy and the spread of the virus elsewhere printed yesterday which may have contributed to the fall initially. It is certainly something to keep in mind. Many have been predicting a correction for a long time and this virus scare has come out of left field and injected uncertainty which, as we know, the markets dislike more than anything else. Every day there is another company finding that they have supply chain problems that were unexpected because they buy components from x country where the virus is not yet a problem, but then it transpires the supplier is reliant on closed Chinese factories for some sub-components. Some are believed to already be relying on th last deliveries that were already at sea before the virus outbreak with no certain date as to the next delivery. Another aspect to consider is that many service companies will probably not be affected so directly and especially not until the virus becomes rampant in their own country, or that of their main customers. IF that happens. Time will tell.
LLOYDS is going to FLY Eadwig: US results and forward guidance with coronavirus in the mix appears to be the cause of it. This was always on the way this results season, as I posted here and elsewhere. So I know you’re ready with cash to snap up bargains. Hi @Eadwig, Well if it is the long awaited correction it’s getting started slowly, US indices bounced back and even the NASDAQ ended up only 0.6% down. But the economic effects of the virus will likely be long lasting. That said staying heavily in cash is not my style… ATB Pref
LLOYDS is going to FLY trader_jack: May I ask a stupid question? Using your rable and STS as the example am I correct in assuming that the abbual cost of holding STS (their charges?) amount to 0.02percent pa and with a dividend payable of 3.02 percent pa per share then I would actually be earning 3 percent pa per share against 0.7 with ATST? Apologies that line in my table was wrong. For STS, the yield is now 2.93% and the cost is 0.92% ie. year to March 2019 they paid 6.25p per share… and yes your broker will separately collect the 0.92% costs from you. I’ll recheck all the entries in that tab later.
LLOYDS is going to FLY trader_jack: I am starting to think that a takeaway from her local Chinese in Essex might just be better value for my money! You could work on that chicken and rice… chicken and cashew nuts and rice, chicken and pineapple and rice … both of which I do in a mean stir fry. Try and expand it from there. Sounds like your French restaurant jaunt wont go much appreciated, I’m afraid. But hey, I live in Poland a lot of the time where they still think McDonalds is pretty sophisticted. You should count your blessings.
LLOYDS is going to FLY Am in France at the moment. Enjoyed a very pleasant apéros evening hier soir. Cheers, Frog in a tree
LLOYDS is going to FLY frog_in_a_tree: Good to hear you are undertaking an expedition to the Somme with your grandson. Hopefully he will develop the same love of France that you have. Well, as I have said before he wants to learn and seems genuinely interested. He doesn’t yet know and I won’t be telling him before we arrive in Albert but I am looking forward to escagots de bourgogne for dinner most evenings. The hotel menu suggests that they will be served!!! Enjoy your evening Best regards TJ
LLOYDS is going to FLY Eadwig: Then she puts so much fresh garlic in some of her cooking that the strength of smell actually gives me a headache. Hi again Eadwig, Look on the bright side the garlic wards off Dracula and I guess werewolves as well… I have been unable to get my granddaughter to try much, yes I have cooked for her. All my grandchildren prefer my mac cheese to that of their parents. I am still trying (unsuccessfully) to get my grandchildren to eat what I call a traditional mac cheese with tomatoes and cheese grated on top before it is put under thre grill to brown off. No luck but my youngest grandson now won’t touch mac cheese unless he gets plenty of fresh basil to go with it. I took my granddaughter to what sounded like quite a nice French restaurant off Kensington High Street a couple of years ago, we had been to watch Swan Lake at the Albert Hall. We never got to actually try the food, she decided she didn’t like anything on the menu. I tried so hard to explain “goujons des poissons” were simply a posh way of saying fish fingers but she wouldn’t have it. I could smell the warm real French baguettes and I was starting to dribble. We finished up at a Chinese retaurant in Gerard Street so she could have her chicken & rice… I have offered to take her to my favourite hotel/restaurant in France, near Arras if she gets good GCSE results but told her that she would have to forget her likes and dislikes and just go for it when the price of a meal is over £100 per head before any drinks are added. I told her that we would have the “Menu de Surprise” as the Maitre d referred to it on my very first visit. “What would that be?” I asked in my very shaky French. " Monsieur, if I told you that it would no longer be a surprise." I am starting to think that a takeaway from her local Chinese in Essex might just be better value for my money! Best regards TJ
LLOYDS is going to FLY J_Westlock: Further, for TJ… I wasn’t sure if he meant earlier that he ONLY puts money into ATST… I assume he didn’t mean that… but if he did… there are other better yielding and certainly more performant funds in this sector on a total return basis and it would well be worth considering that… unless other factors are in play like particularly liking what ATST invests in. Hi again JW Thanks for that, very interesting. I was a customer of Alliance Trust for many many years and much of my own savings went into ATST. So when I started savings for my grandchildren I put all the money I saved for them into ATST. When Elliot Brothers came to an agreement with Alliance Trust to buy the whole of their stake it rather spooked me and I cleared my grandchildren out of ATST and into other stocks such as HSBA, LLOY, NG and VIN. Most of the savings are now back into ATST but some of my grandchildren still have HSBA, LLOY & VIN. I sold out of NG a couple of weeks ago at 1015p and put the funds back into ATST at 864p, I should have waited a bit longer I think, but hey, they dipped as low as about 750p in 2018 but with dividends reinvested the price I sold them at gave them a reasonable capital gain. Of course I realise that there are other investment trusts out there that I could put them into instead. I may well have a look around at some stage but ATST has been a reasonable run of the mill stock for them. Of the ones you listed Monks and 3i priced at over £10 per share - I think of as “expensive” SMT possibly quite high now around the 650p mark, Mid Wynd I have never followed but will run my rule over that in the coming days, the same with STS but it looks a reasonable divi payer at first glance trading around NAV whereas ATST is at a near 5 percent discount. I do look at quite a few IT’s over the course of the year and will probably put my 20/21 ISA allowance straight into BNKR which I have followed for some time. I owned some shares in it a couple of years ago but sold them to buy a new car just over a year ago. In hindsight there were other IT’s I hold that I could have sold instead which haven’t put on the almost 25 percent in the last year that BNKR have. When I first put money into it’s many years ago I looked at Personal Assets Trust but decided that the actual cost per share would get me fewer shares than ATST would buy. If I recall anywhere near correctly ATST back then were about £14 per share and I want to say that PNL were priced not much different to todays price although I never really followed them ATST underwent a 10 for 1 split in 2006 having reached about about £34.50 per share! May I ask a stupid question? Using your rable and STS as the example am I correct in assuming that the abbual cost of holding STS (their charges?) amount to 0.02percent pa and with a dividend payable of 3.02 percent pa per share then I would actually be earning 3 percent pa per share against 0.7 with ATST? Best regards and good night TJ
LLOYDS is going to FLY So 56.55p at close KD01 56.78p (assuming without the 1.00?) looks the closest Skiking37 57.4p (looked good early on) Prefinvestor1 54.4p Philkes 54.2p JWestlock 45.7p (thankfully not!)
LLOYDS is going to FLY Good to hear you are undertaking an expedition to the Somme with your grandson. Hopefully he will develop the same love of France that you have. Cheers, Frog
LLOYDS is going to FLY PrefInvestor1: US markets throwing a wobbly this afternoon so everything is down and the FTSE 100 fell off a cliff (probably as a result of that) after 160. US results and forward guidance with coronavirus in the mix appears to be the cause of it. This was always on the way this results season, as I posted here and elsewhere. So I know you’re ready with cash to snap up bargains. Goldman issued a warning yesterday that coronavirus could be the cause of the long-awaited correction. So, just the two or three weeks behind me. I’ll add a paypal account later for you all to send me your consultancy fees.
LLOYDS is going to FLY trader_jack: Of course that might be a good idea these days depending on where she is likely to go but then who pays for what and who chooses where to visit? We could have a fun time deciding on where to visit. Planning such a holiday, with organised trips and visits in the different places can be a lot of fun if you like that sort of thing. Easy to do these days on the internet too. She might not want me around cramping her style, of course. Maybe I could meet up with her in one or two places instead. I doubt she’d want to travel alone, so that would be an issue is she goes with a friend, who pays? On the other hand, when it comes to hotels, most rooms cost the same for one or two people. trader_jack: I think that if I tried that with my granddaughter it would not end well. She is so choosy over what she eats (virtually nothing) so trying out local cuisine would present a problem, although she will eat Chinese, chicken and rice and that’s about it… I have that problem with Ms. Eadwig. She wont even try my cooking, let alone anything new or exotic. Then she puts so much fresh garlic in some of her cooking that the strength of smell actually gives me a headache. Can I get her to try, say, mango chutney? Not on your life. Miss Eadwig may turn out the same and she may not. Too early to tell on such things. The best way to get her to try something new is to sit down in view of her and start eating. She will always come over to ask what it is, and more often than not she wants a taste and then half my dinner disappears if she decides she likes it. I make my own cheeseburgers on occasion and I garnish them with chopped lettuce, among other things. She’s got to like the lettuce so much she will now eat a plate of it if I chop it in the right way (but not a leaf of lettuce on its own) She can take or leave the burger. Strange but true. Her latest thing is mixed nuts, especially almonds. I couldn’t eat lettuce or nuts when I was her age. On the other hand if I make something for her and try to get her to eat it she wont, 90% of the time, unless it involves chocolate. Still, the ‘This is my food, get off!’ decption still works well for now.
LLOYDS is going to FLY Yes indeed re: PNL Certainly the impact of over 1/2 it’s assets in US market shows through so comparing only to FTSE100 can be a little misleading. I just did a quick comparison to similar ones in that wold sector (Monks IT, VEVE etf, STS IT and TJ’s ATST IT) over last 3 months: image.png1460x520 100 KB All fairly similar but PNL does appear to smooth out some of the highs/lows… not that it seems to over longer periods I also note. Further, for TJ… I wasn’t sure if he meant earlier that he ONLY puts money into ATST… I assume he didn’t mean that… but if he did… there are other better yielding and certainly more performant funds in this sector on a total return basis and it would well be worth considering that… unless other factors are in play like particularly liking what ATST invests in.
LLOYDS is going to FLY Hey @J_Westlock, Just happened to see Personal Assets Trust (PNL) on one of my watchlists and noticed how well its been doing. image.png960x548 33.4 KB Given the highly defensive set of assets that it holds thats quite remarkable really. Dividend is rubbish though…so I dont think ill be buying. ATB Pref
LLOYDS is going to FLY Hi All, Well 56.55 at the close, who would have bet on that when they were knocking on 58 this morning ?. But hey its better than 53.55 so I doubt many LLOY holders are complaining. US markets throwing a wobbly this afternoon so everything is down and the FTSE 100 fell off a cliff (probably as a result of that) after 160. Oil up still today and GBP down so thats something. Tomorrows another day. Right now my portfolio is pretty well flat for the week. ATB Pref