trader jack
20 Feb 2017
Re: Sold Good morning Charityman,I might possibly agree with you if I could fully understand what Alliance repurchasing their own shares and CfD's held by Elliotts will have on the SP and discount in the next few months. These repurchases are being funded by the sale of parts of the Alliance Trust current portfolio of shares.Currently I have sold 3 lots of shares held by myself and my grandchildren at 671.50, 672 & 674.What I would not like to see is the SP and NAV nosedive in the next few weeks without me trying to protect the short term outlook for our savings.Any thoughts on what might happen are always most welcome as I try to understand what might unfold in the coming weeks.Kind regardsTJ
Charityman
19 Feb 2017
Re: Sold Seems a bit too soon to sell, the SP is still trotting happily northward.
trader jack
15 Feb 2017
Re: Sold LKHWish you the best for the weather tomorrow (or is it today now?) I dunnobut I guess what you don't need is some prestty bad weather that either keeps you from continuing your journey or perhaps, worse still, really hits you when you are out at sea!Best of luck to you.Took a punt and sold a tranche of my ATST today at 671.50, still looking at possibilities for my grandchildrens' pots.Have reinvestment in nother IT mind both for myself and the bairns.Kind regardsTJKind regardsTJ
LK Hyman
15 Feb 2017
Re: Sold TJ,"kept getting somewhere in Hawaii nd I guess you were well west of that"No, we're actually about 2400 nm south of Hawaii, and a bit east of Tahiti. Currently hove to, just off Marokota Island in French Polynesia. Weather deteriorating.LKH on the flybridge taps barometer nervousl
trader jack
15 Feb 2017
Re: Sold Mrs LKH will be looking forward to seeing you and a healthy pile of vnilla pods, all that luvverly custard.....p.s. had to google Kautaiva island, kept getting somewhere in Hawaii nd I guess you were well west of that if yesterday's positions are where I think they might be.Kind regardsTJ p.s. ATST just keeps climbing, when will I decide to press the sell button I wonder......
LK Hyman
14 Feb 2017
Re: Sold TJ,"You will use a French company to buy your diesel don't Exxon or Shell have any representation out there?"Alas, Shell sold its Pacific Islands biznay to the Frenchies some years ago. It used to be the case that:"Never was isle so little, never was sea so lone,But over the scud and the palm-trees a Shell flag was flown."It's a crying shame that that is no longer the case, shipm8es.LKH on the flybridge, at anchor, off Kautaiva island, stocking up on vanilla pods
trader jack
14 Feb 2017
Re: Sold "Tuamotus?"Thank God for Google, something like 80 island all with strange sounding names, Herehertue and Puka Puka being just two examples.You will use a French company to buy your diesel don't Exxon or Shell have any representation out there? At least in Blighty you can compare the prices charges by different filling stations so you can get a good price when you fill up. I don't suppose there is a similar facility for old salts travelling the Pacific Ocean.I do think you are ebing very kind to KGC I would suggest that she did more than a bit to get her name on the map, building up ATST was always secondary to her plans for her own enrichment.Enjoy the Pacific hospitatlity but perhaps beware of eating fish. The BBC had a piece last night about all the detritus tipped into the seas over the years by us humans much of which has found its way into the deep sea trenches like the Marianas and the sea life is becoming cancerous...... A cheerful thought a you enjoy a stiff finger!Kind regardsTJ
LK Hyman
14 Feb 2017
Re: Sold TJ,"wherever you are in the Indian Ocean or is it the Pacific?"It's the Pacific, m8. Currently tracking between Bora Bora and Papeete, thence into the Tuamotus.It's a hard life, but someone has to do it. The price of diesel out here is something shocking. I blame Total.It's interesting to follow the current lively debate about executive pay in Blighty. The fragrant one certainly did her bit to get ATST's name on the map in that regard and it is ironic that her greed calls into question not just the pay of the big bonobos at ATST but the existence of the entire goddamn corporate structure.LKH on the flybridge
trader jack
13 Feb 2017
Re: Sold Good evening LKH wherever you are in the Indian Ocean or is it the Pacific?This is the main reason that I am now looking at my holdings in ATST. I can clear my grandchildrens' funds out of ATST until the picture becomes more clear regarding the actual discount to share price and the effect the Elliott unloading has on the SP in the short term. I would put them into another IT (perhaps VIN which pays a good dividend but the actual SP movement is quite slow) until the picture becomes clearer and in which I have a small personal holding or look at some other IT with a10 -15 percent discount to NAV that pays quarterly dividends and doesn't pay a commission to any salesman who just happens to be passing the door.For my own holding it will take 4/5 years minimum at current SP to sort out without the need to pay any CGT.I agree about KGC, in it for herself not for the benefit of shareholders. And probably not too fragarant too boot. If ATST want to farm out all investment decisions and pay almighty commissions to would be "Woodies" why not just sell the whole shebang lock, stop and effing barrel to Aberdeen ,RIT or whoever. Then at least us poor shareholders could make a relatively informed decision.Enjoy your Cap'n Morgans.Kind regardsTJ
LK Hyman
13 Feb 2017
Re: Sold Wynford2,"As I read it your beneficiaries can continue with drawdown, paying tax on income only as they draw the income over their years, so your SIPP becomes their SIPP going forward"It's not entirely clear from the YouInvest link whether, if chummy carks it aged 80 (say), having not touched his pension fund, the beneficiary has to pay tax on the fund if he/she just leaves it invested. HMRC might argue that the beneficiary had nevertheless received a taxable lump sum.I have my own Sipp (and Mrs LK has her Sipp) with YouInvest so perhaps I should just ask them the question. It seems incredibly generous, tax-wise, if one can pass an untouched pension pot down the generations completely tax free even if one dies after the age of 75.I know this little boondoggle works fine, tax-wise, if one checks out permanently before the age of 75 provided one has nominated one's heirs to be the beneficiaries on death, but it seems almost too good to be true if there are circumstances in which it also works AFTER 75.LKH on the flybridge this is a cheerful subject
trader jack
09 Feb 2017
Re: Sold Questor in today's Telegraph:UPDATE: Alliance TrustMany of Alliance’s 30,000 small shareholders will shortly receive – or will already have received – their voting documents relating to the trust’s proposed buy out of a major shareholder, Elliott International, an “activist” investor since 2010.If shareholders vote the deal through (and there is no suggestion they will not or should not) Elliott’s slab of stock, valued at around £620m, will be bought by the trust. The remaining company will shrink as a result.The important bit is that Elliott is being offered the buyout at a discount of 4.75pc to asset value.This proposal – and the board’s similar moves in recent months to buy out other disaffected shareholders – has caused the discount to narrow fast towards that 4.75pc target (yesterday it reached 4.59pc). It has averaged 9.8pc over the past 12 months and been as wide as 13pc, so this is an extremely noteworthy development.For those long-suffering shareholders wishing to exit their holdings, seize the moment. Questor on January 5 advised readers to sell Alliance and invest instead in Witan, an equivalent global portfolio but one where the investment process is tested and where it has delivered results.Alliance may indeed finally transform itself for the better. But we’ve been promised that many times before, only to be let down.The Elliott episode has delivered Alliance a great – and arguably highly beneficial – kick in the backside. But the need remains for it to prove itself.Questor says: sellTicker: ATST
In the dark yet again
09 Feb 2017
Re: Sold Just remembered the 'word' - EET is what they call it - exempt (in) exempt(during) taxed(out).
In the dark yet again
09 Feb 2017
Re: Sold alandwd,Just spoken to them (could do with a second source as backup and will be looking but don' t doubt them) but it is, as far as I can tell, absolutely true, bang on the money. Under current rules a full tax exempt, IHT included, until you extract (No tax in, no tax on income or gain, full tax on exit - the City has as 'word' for that but it escapes me) handed down father to son to grandson ad infinitum, girls definitely included from my shorthand, simplistic language.There is still a £1.25m pension cap out there so clearly some limitations but, well, if it ever gets that far, let's...[link]
alandwd
08 Feb 2017
Re: Sold That's amazing if true. It could also have an interesting social effect on some people. Why bother working and getting this pension income taxed at 40%, when you could just not bother and drawdown mum or dad's pension fund (if it was large enough to do so) and offset it against your own tax allowances? No doubt some SIPPs are!
In the dark yet again
08 Feb 2017
Re: Sold Wynford,Just had a brief read but will have a detailed one in the next few days. Initial impression is it sounds about as sweet as it can get - which always a little worrying because that's when I tend to assume I've missed something. The only thing the (no so) little blighters seem to miss out on is the 25% tax free lump sum available to the original pensioner - unless that too is buried somewhere deep in the detail.Thanks very much for the heads up; certainly food for thought.Regards,ITDYA
