LoadsaDosh2
19 Jun 2015
Re: SP LG - So with all these 'BANG ON' successes, how come you haven't made your money and retired?I seem to remember you were shorting the market heavily with short-funds a couple of years ago since which the market has risen quite strongly; what happened to the BANG ON with that one?
lambrini girl
19 Jun 2015
Re: SP afternoon guitar..the machine predicted the drop.BANG ON!!.personally I find ''news'' stories irrelevant..they just provide the opportunity for the algos/bots to take the price to its intended target..which I predict..U will see the same day after day..look at RUR today(I was told NO WAY would drop to 2p cos was guaranteed 8p) APR yesterday...etc etc
LoadsaDosh2
19 Jun 2015
Re: time to go I did flag the issue of management expenses back in March:[link] I stayed out and sorry for those still in. The level of expenses which eagle51 has so clearly shown is a scandel!
Guitarsolo
19 Jun 2015
Re: SP OH LG! You can't fool us with that! Yes you put up a sell flag and a 102p target. But the collapse in the share price over the last two days is due to losing the right to re-hear a case by the US Supreme Court thus preventing JIL recovering any more money and taking a big hit to the NAV. Are you trying to say your machine predicted that?! Impossible. A TA "machine" can make predictions on general trends and market psychologies of heavily traded stocks but can't predict one-off game-changing events. If the prediction is right, it was by luck rather than judgment. I hope you shorted the stock to make use of your 102p prediction?Guitarsolo - not using a machine, just the little grey cells and hopefully some careful analysis and common sense.
lambrini girl
19 Jun 2015
Re: SP SELL120 target 102<<<On what basis, Lambrini. Your plentiful pronouncements ex cathedra are often amsing but usually baseless - as in this case.<<Opened a short spread bet, have we, lambrini girl? Are you sure this is a clever move? Do you know something more about JIL's NAV than the market does<<BANG ON!!..shame ookie & eagle..
eagle51
19 Jun 2015
Re: time to go I have now sold all bar 10k shares, which I'll now forget about. Another one in the 5 year drawer and hope moths don't fly out. You'd think I'd learn and put my money in the building society instead of AIM, but I'm no longer sure the city slickers wouldn't somehow manage to lay their greedy and unprincipled hands on it even there. I'm now mainly relying on oil to bring me some decent gains over the next 2-5 years - the sector is way oversold and ppb valuations look way out to me. I'll find out, although I'm not sure I want to. It's the way you're supposed to feel - capitulation is the key to value destruction and to easy gains for too many. In case it's of interest I've invested all the proceeds from the sale of JIL in QPP (don't laugh - it's a completely different animal now). 126.5p buys entry and there's a return of capital of between 100p and 114p scheduled by end of Nov, with the promise of further capital returns on top over the next two years. As I see things, there's a (net) nil or even minus cost of entry to the promising businesses that remains after the sale of the legal services division to Slater & Gordon for £649m in cash - now completed. The QPP BB tells the story - DYOR. Good luck if you're holding on here but it could be a long wait. Any dividends simply seem to be deducted from the share price each time (plus about 20% - Fields' share? 
) so longer term capital appreciation is difficult to see. Maybe a big case will pay off, but I'd be prepared to bet others would get to the proceeds first - all kinds of ways are available to do this if the mindset's there. Why give the mugs (shareholders) their share if you don't have to?I've enriched my experience as a result of owning JIL these past 2 years - never be too influenced by dividends is the main lesson learnt (again). I'm pleased to be (almost out) as I get the distinct impression the lot behind this company are more than just a bit slick. I think I know who the winners will be in the end (they're winning now) but I've left a small bet riding on the hope shareholders will get something half decent in the end.
Guitarsolo
19 Jun 2015
Re: time to go Hi Eagle, I hope you managed to exit before another large drop today. I mean, ouch! Down about 25% in a couple of weeks. But I think you hit the nail on the head with your assessment of the way the managers remunerate themselves and others without actually taking the risk with their own capital. As you say, awarding JCML a large performance bonus six months before taking a huge hit to the NAV smacks of rewards for failure/ jobs for the boys etc. It's a shame as I would otherwise be interested in putting a small part of my investment portfolio into JIL. Sadly, not with this current management. But where is the shareholder pressure to make them realise it is unacceptable. We as small PIs (I am assuming we all are!) don't own enough shares generally to grab their attention. It needs someone with 10% of the company to give them a good rant!Best of luck to everyone. Guitarsolo
eagle51
18 Jun 2015
time to go Well, that's as clear as mud. I can't even follow the case numbers back to the 2014 accounts (maybe they've been changed to protect the innocent?). I always run for the exit when there's obfuscation in the wind and there's a heck of a lot of it around here.I had hoped JIL might be different to many other companies, where shareholders are used just to generate money for greedy (and sometimes incompetent) managers and their City pals. Sadly my hopes were quite quickly dashed here, on reading the terms of complex agreements with people we don't know much about (but I instinctively don't like the sound of) that reward them excessively for the risks they take using shareholders' money. I have decided to sell before I lose even more of what I invested based on tales told by Lord Brennan et al about the prospects the future holds. I was fooled by the dividend but am no longer under any illusions. What use is a dividend if value doesn't increase and the share price falls (in this case by a lot more than the dividends paid over the past 2 years).Maybe the future does hold promise but others seem set to benefit by way too high a percentage if the promise is realised. Shareholders are unlikely ever to see a fair return - the balance is wrong. The managers' (we were lucky not to pay 2 lots of performance fees last year - there was provision to pay them) do well whatever. What is fair about never having anything clawed back if their management performance results in decreases in NAV - as we have just been told is the case in H1 and probably will be for the year as a whole?Ref the comment in today's RNS: "As previously disclosed, the trial court dismissed a significant part of the plaintiff's damages against the remaining non-settling defendants in early 2014, and this dismissal was affirmed on appeal. As a result of this negative ruling, the amount of projected future settlements for this case will be removed from the Company's investment valuations. This will have the direct impact of reducing the Company's NAV by approximately US$29.7 million at mid-year 2015"................what about the $14m paid to JCML in its final year to 31/12/14 which will have included 20% of the $29.7m (if I read the agreement correctly)? Are we to expect a repayment I wonder? No need to answer that one. It looks to me to have been a parting gift to whoever is/was behind JCML, because the circumstances were known about at last year end, but the write down in fair value has only now been made. JCML has gone with the money. Some might suggest it must have come in handy - what with the cost of divorce proceedings today. I would never make such a suggestion myself, of course.I intend selling my holding (probably in tranches) starting tomorrow, as I don't believe what Lord Brennan (even less Richard Fields) implies will happen from here. No doubt the title is intended to persuade us that everything that is said can be relied upon. He has 187,500 reasons to keep everyone sweet. Looks to me as if shareholders can kiss goodbye to the prospect of a decent (any?) dividend this year. Without this, what's to like about Juridica? I can answer that one I think: "not a lot". Nothing, in fact.This tells the real story (from the 2014 accounts):ExpensesManagement fees 5,872,475 Performance fees 14,511,058 Due diligence and transaction costs 905,687 Directors’ fees and expenses 681,153 Audit fees 234,735 Legal and professional expenses 1,063,460 Administration fees 300,309 Foreign exchange loss 306,002 Other expenses 476,305 Shareholders are just the mugs who make it possible for so many others to do so well.
fabrav
26 May 2015
Re: Gross or Net The NIL rate certainly matters if you are NOT a UK resident, as the dividend is paid gross and the shareholder only has to worry about taxes in home country.
jonwig1
26 May 2015
Re: Gross or Net How are normal UK dividends paid?Gross or net?Does the difference trouble you?(Answer: neither gross nor net - the difference is meaningless, and it shouldn't trouble you.)Jersey dividends are paid net of Jersey withholding tax at 0%, after which they are treated just like a UK dividend with the 10% tax credit. Strictly speaking you should declare this as a foreign dividend on your tax return. (But it won't make any difference to the amount received.)So the last declared dividend is 20p, and that's what you get, inside an ISA or outside.Worry only if you are a higher rate tax payer. Then you'll have extra to pay..
fabrav
25 May 2015
Re: Gross or Net Gross
shangha1
25 May 2015
Gross or Net Are dividends paid gross or net?
Guitarsolo
30 Mar 2015
Re: IC comment RG, I didn't realise IC recommended at 150p!I've followed this one for a while, tempted by the yield. I missed the boat at 110p when I almost hit the buy button and would have done nicely, either riding up to 150p or taking the 20p divi last year. But alas I didn't do it. I did manage to reconcile my soul and allow myself to buy shares in an outfit that funds blood sucking lawyers but, upon closer reflection and the recent results, I believe the problem for Private Investors lies in the fact that you can't influence the company and I am not sure they are really running the company in the interest of the shareholders but rather for themselves in very high charges and performance fees (when it is not their money at stake). So, for that reason, I don't think this is one for me and I'll leave it to the professional investors and funds who can better put their point across to management as to what they are supposed to do and who they really work for!GS
Richygm
27 Mar 2015
Re: IC comment I was tempted to buy in after last September's IC rec (at 150p), but forgot to follow this co further until the new rec (at 116p). After reading the comments below, I think I'll just watch.
Guitarsolo
23 Mar 2015
Re: IC comment For what it is worth, I have taken another look at this and concluded like many others that I am unhappy with the way rewards are structured and fear that, as a shareholder, my interests are not really being considered at the fore as they should be. So, I'm out! I made a very small profit (1% net) and will console myself that it is a year's worth of interest from a bank account!GS
