Davala
17 Apr 2018
Re: Hoping for the recovery! I decided to back Woodford on this one and have taken a little punt on 1500 shares.Lets see how it rides out!
romaron
16 Apr 2018
Re: Hoping for the recovery! I hope you're right. We'll know over the next year whether Woodford has got his mojo back. I expect the share [PFG] to be in double figures within the year. He takes a fair amount of criticism but we know that's part of his job. He will be applauded eventually imo. I haven't any investment with him but have a fair amount with Fundsmith and it has proved a multi-bagger. Like Neil Woodford Terry Smith has his fans and detractors but both are better than me at this investing game. They seem to get more right than wrong over the years.One of the signs of improvement will be this bulletin board having less traffic. I look forward to it. My best performing shares only have the occasional tumbleweed post.Be Lucky
Davala
13 Apr 2018
Hoping for the recovery! I@m not a direct holder of these, but since I hold all three Woodford funds I do have a fair investment and therefore I@m watching and hoping for a recovery
romaron
13 Apr 2018
Re: RNS. Rights take up. Agree Davala. That's the type of percentages that North Korean elections provide. Allowing for inertia and some just not being able to afford to take up the issue was a resounding success imo. It is confirmed by the latest shorts; they're down to 6.25 per cent. The last time I looked a couple of days ago they were 9.89 per cent.A late arrival on the shorter scene was Numeric Investors. Obviously their algos were telling them something and the quant guys thought it worth a punt. A pal of mine worked for Man dealing in futures. He wasn't the sharpest knife in the drawer but he probably knew more about the PFG world did than the quant guys. A certain guy, Nassim Nicholas Taleb, would probably have a wry comment about this. He understands black boxes but doesn't believe they're infallible. Neither do I.
Davala
11 Apr 2018
Re: RNS. Rights take up. Won’t the remaining 6% receive proccedds from sal of rights anyway.Not everyone has the moneySometimes in ISA with not free cash etc. I think 94 is pretty good.
Ripley94
11 Apr 2018
RNS. Rights take up. Surprised only 94% take up .. huge discount to current price.
shugg1e
05 Apr 2018
Re: short covering Closed today that worked out a great little short from 900p
romaron
03 Apr 2018
Late RNS Morgan Stanley have increased their stake. It's at times like this when they have to show holdings though not always on the day. It really is a time for professionals and I notice the newest shorter is Numeric Investors LLC part of Man group. These are quant equity managers and many have high foreheads and PhDs. They don't always get it right and neither do Man from my experience. PFGN closed at 3.67 and PFG 6.75. Might be an uplift tomorrow. MS have 2.01 per cent out on loan - I don't have a problem with this as a different times they need to borrow stock and it is what oils the wheels. You can even have dealers from the same institution having opposite views and there are restrictions (Chinese walls) on releasing privileged information (although that doesn't stop people hunting it.)
ESTABLISH THE FACTS
03 Apr 2018
BERENBERG V'S MOTLEY FOOL Berenberg suggest 550 pence per share, whilst, an interesting write up on Motley Fool suggest a buy rating.[link] am taking up my rights in the hope that future dividends will be paid. Good luck.
dandigirl
30 Mar 2018
Re: PFGN 3.71 Bid rom, well that brought a smile to my face! It brought back my thoughts that a bunch of IT people must have gone to Peter Crook and said: You know what Peter, this business is so 20th Century - have we got an idea for you! We should bring in a lovely new IT set-up which will cost millions but we will save lots more by getting rid of all those collection agent people who are both costly and awkward to manage. Back to the future?I don’t hold shares directly - l suffered via whatshisname? Barnett? But we do have a fair few bonds having topped up when their prices slumped. So we have a mutual interest in PFG recovering quickly. As you say, be lucky! Happy Easter.
romaron
30 Mar 2018
Re: PFGN 3.71 Bid The old network is for me a flawed business. it's so 20th Century as they say and with the FCA playing with their bull-workers it is very dangerous to have loose cannons visiting vulnerable people in their homes. They won't only be looking at PFG. It's also very labour intensive. I suppose the bet is whether the problems are in the price. It is the history and scale of PFG that keeps me invested. Never any guarantees but I think it will be a hard lesson learned. In this age the non-standard loan business needs a new approach and maybe we'll be the ones to do it. Whatever happens the borrowers with a patchy credit history and those who don't reach traditional criteria will still need finance at different times in their life. They won't go away.I hope they don't rebuild the old network but a hybrid that protects us from regulatory attacks.Be lucky
dandigirl
30 Mar 2018
Re: PFGN 3.71 Bid romeron: imv, the greatest risk is 3). pfg are taking far too long to fully reestablish the old network.
romaron
29 Mar 2018
Re: PFGN 3.71 Bid Also this from the FT site today:[link] Berenberg cuts Provident Financial, the doorstep lender, to “sell” with a 550p target price. Its downgrade follows Provident’s launch last month of a £330m rights issue to bolster the balance sheet and repair its capital position. “Although the capital raise substantially reduces balance sheet risk and restores capital ratios, we think there are risks to earnings emanating from: 1) the regulatory environment; 2) margin pressure in Vanquis [its credit card business]; and 3) execution risk from the home credit recovery plan. Additionally, as the business is targeting lower growth of 5-10 per cent per annum and return on assets of circa 10 per cent, it will command a lower valuation than it has done in the past.”========== =I think 1. There has always been regulatory risk 2. Vanquis needs a breather as it grew faster than any other bank in its issue of new card customers. 3. Home credit is so 20th century but do we expect the borrowers with adverse credit ratings and the self-employed to disappear? who else will lend to them? That takes you back to point 1 and the regulatory environment. I'd suggest we are best placed in the industry after the FCA investigations.
romaron
29 Mar 2018
PFGN 3.71 Bid It's on my accounts now but obviously nil paid. I also googled and got this[link] says down 18.00 but I'm not sure it was ever that high.
romaron
28 Mar 2018
Re: basic questions We moved from 8.92 on 21 March to 6.71 on 22 March when the nil paid admission rights were credited. This is (for me) indicative of where we'll be on 10 April allowing for variables (news, FTSE etc...). The price seems to be holding although the shorts have again increased but this could easily be technical. Those still short could have arbitraged by selling the quoted shares and buying more nil paid which will eventually become one and the same. You could have the nil paid rising and the quotable falling. The technicalities are for the professionals who understand the settlement and can trade them. All imo as it is often a case of 'follow the leader' with the hedge funds. Once the transaction is complete we'll have a better understanding of the direction and analyst views. My wet finger in the air is £7 on 10 April but my glasses are rose tinted.FX was so much simpler. I'm getting FRTEB's headache.
