"Darker" and the rest |
jptara
Some good yields about today! Not so confidence in the future of stocks. The gloom is getting darker |
I suspect most people with a sense of realism have accepted that situation already to some extent. You cant burn a candle at both ends and its not possible to provide the whole gambit of healthcare absolutely free to all from a quick chat with a GP and a pack of indigestion tablets to liver transplants, heart transplant, gastric bands or whatever. I also suspect most people are ok with paying tax. My big objection at least, is how that tax is treated as a bottomless pit to be used/wasted willy nilly by idealistic and not very bright politicians. |
Labour, because of fears on it denting electability, made a sizemic political error in ruling out rises in income tax.
Now we see the result.
That said, IF anyone considers additional tax revenue was Not required, then read Paul Johnson's (IFS) scathing analysis of Hunt's last budget.
It was only a question of which taxes.
The model adopted by the ROI is relatively high personal taxaction, coupled with exceptionally low levels of corporate tax.
The ROI also runs a less generous public health service, which for a majority of the population means paying to a see a GP, and for prescriptions, out-patient tests. Inpatient hospital treatment is free of charge.
There are caps on how much an individual has to pay annually (from memory).
The British will not accept this, the Irish do.
It wll become a necessity. |
 jptara
I would imagine those are the thoughts of most of us. As always though its knowing where things are heading. Its easy at the moment to find yields far superior than gilts. Whether they are bargains is not easy to decide with Reeves and the rest of them making an absolute pig's ear of things. I would take issue with Starmer's claim to have stabilised the economy. Whether or not a doomesday scenario is priced in may not seem so certain by the time Reeve's budget kicks in in April - if anyone still has a business or money to care by then and as you say if the air is let out of the US markets doomesday may be some way off - and thats without China or Mad Eds further bouts of madness.
I have thought of adding to a number of stocks in the last few months but the lack of clarity in the future has led me to hold back and so far its proved to be the right move - and thats solidly performing well run companies but very few are immune to the current mess and uncertainty.
rimau
Where do you get the 110 metric? When I first bought into SHED some years ago I thought £2 was possible - and it was |
I was tempted to withdraw from U.K. stocks and invest in gilts 4.75% until 2038. So many investors are doing the same, hence depressed share prices. At the same time there are so many bargains on the U.K. stock market. We are almost pricing in a doomsday scenario. One thing to be mindful off, if the US markets correct, these bargain shares will also fall further. If you have done your research and have confidence in management team then buy as it dips - as I have been doing on a number of shares. |
If you think this is worth more than 110 then it did good if you don't you probably shouldn't hold. Merry xmas |
Share buyback complete. That did us a lot of good. |
Yield move on the UK 5-yr garnered a lot of attention yesterday, I tend to look at the 10-yr.
Recent peak around 4.6% on the later, a clear break above this area gives a very ugly outlook. Hopefully not. |
* sparing blushes, perhaps.
Santa's sack appears a tad empty this year for the sector. |
Knew they were buying in size, but hadn't realised it'd be finished so soon:
"Over the course of the share buyback programme, 6,887,411 Ordinary Shares were repurchased for a total consideration of £7,442,134.59."
Why no mention of average price (because it was a touch over £1.08, & we're now £1.042). |
Hi @EI - honestly think I will, albeit the Santa rally's got to start at some point, so perhaps late Jan/early Feb.
Can't appear too clever waiting out of SHED on these falls - am loaded up instead with FGEN, FSFL, TRIG etc & they've all done even worse :) |
* Apologies! - I'm posting from a mobile.
I need varifoculs badly and have resisted to this point - on a January to do list. |
Spec, you might still get your £1. |
UK 10-YR near 5.5%. |
Rhetorical, but can't help answering ;)
Depends how you define good. Shareholders seem to think they're in place to arrest falls/keep s/p's up, and in the majority of cases, they're not and they don't. That's not their purpose.
But some are decently accretive to NAV over time.
Interestingly, those two things are generally opposites. So eg CGT has a powerful buyback that keeps the share price close to NAV, in both directions (buying heavily if it falls too far below, issuing shares if it goes too far above). Great - but that means when they buy, it's barely accretive. It supports the price, but adds next to nothing to shareholder value.
Buying at big discount - which is what most of them do - is NAV-accretive, but why is an IT on a big discount in the first place? Generally because the NAV isn't trusted, or NAV isn't the reason for valuation (ie something might be on a 40% discount, but if its earnings yield is only 6%, or outlook bad, or debt rescheduling an issue, then what's the point of adding a few basis points to NAV with buy backs).
I'm mostly buy back agnostic. With very few exceptions (RLE; OCI) where it's used to clear out a big seller (eg Investec at OCI), and bought directly from that seller, then buy backs seem to be generally for management, not for shareholders. What it isn't is "Returning cash to shareholders", that's what divis are for.
There's something slightly amiss with a tax system that prioritses debt (tax-deductible) over using spare cash to pay down debt. |
@specto have any buybacks in the Inv Trust space ever done any good? |
Just came in. Very late for HL - usually by 10.00am |
Thanks - HL are becoming more and more 'flaky.' |
skinny: Barc a/c, divi in @ lunchtime. |
Segro now on an approx 19% discount to NAV, oh my, But still yields sub 4%. |
Yet again HL seem to be late - has anyone had their dividend today? |
He thanks you!.
Mentioned on LMP yesterday that gilt yield movements are a potential risk for 2025.
I watch the UK 10-YR, which YTD has gone from yielding near 3.5% in January, to over 4.3% this morning.
A move I did not see. |
Arguably a , but also showing the high volume yesterday.
I hope your friend is well :-) |
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