dandigirl
23 May 2018
Re: 1998 Revisited..... Thank you Devonplay, I hadn't see the latest reports. I remember first time around - both Williamson, a super CEO, and Taylor, a bit of a renegade and a breath of fresh air for that, lost their jobs not long after.This time it might be different and this stoty might have legs IMV. Why? Both Winters and Staley are ex JPMorgan but more importantly there is McFarlane. Johnny Mac is also ex STAN [and Citi]. He likes a big deal - when with ANZ he sold their big Indian operation to STAN. He would probably like to go out with a bang, with a deal that would help both banks put recent past woes behind them. Can't see it happening before the Autumn at the earliest though. Barclays execs still have Qatar issues and STAN with US regulators until at least the end of July.Anyway, I have sold some LLOY and doubled my holding in STAN on the off-chance.
old_punter
23 May 2018
Time to sell? Maybe on a short term view at 776p, as a merger with Barclays has been rubbished by broker analysts as reported on FT's Markets Live this morning.I would be a buyer as before c750p I think.
devonplay
23 May 2018
Re: 1998 Revisited..... That we've been here before and it didn't come to anything.[link]
dandigirl
23 May 2018
Re: 1998 Revisited..... Hi - What made you resurrect this old chestnut now please?
devonplay
23 May 2018
1998 Revisited..... [link] two statements followed weekend press reports that Martin Taylor, Barclays' chief executive, made merger overtures to Malcolm Williamson, Standard Chartered's chief executive, over dinner at Chez Nico's, an exclusive London restaurant.Maybe this time.....DL
IB Investor
22 May 2018
Re: Time to buy? Surprised at statement that these were double this price not so long ago - it was about 5 years. Since then they have fallen massively, and the evaluation has changed considerably. Five/six years ago they were being tipped as a big gainer as the Far Eastern economies grew rapidly. In fact they fell by about 75%. They are now delivering what was suggested back then but from a far lower base. No doubt further to g
old_punter
22 May 2018
Re: Time to buy? Yee WoFair points.My doubing of price rationale is based admittedlyvery superficially on averaging 2013 and 2014 ptp and eps which were £3.8m and 92p so a pre tax return on equity of 10% and a p/e of 8.2. If STAN can get back to that level of profitability and I think revenue could rise much faster than costs then given the growth areas they operate in I would reckon a p/e of 16 not unreasonable, mind you that is best case. The premium to book value would be c30% which would not be outrageous. So I see a doubling as not impossible but of course looking very optimistic. However, banks can be viewed as a geared warrant on the economy.Competition from state owned banks and disruptive fintech agreed both negatives but big incumbents have advantages and should be able to adapt.Brokers mostly saying hold or underperform on the stock at present, a bull point. As a contrarian, I feel more comfortable holding stocks which have disappointed provided there are grounds for thinking they may be on the mend or at least things are unlikely to get worse. In this case, a discount to book value of a third looks wrong to me and offers downside protection.My largest holding but less than 10% of the portfolio so not a massive bet.We shall see.
Yee Wo
17 May 2018
Re: Time to buy? "The shares were double this price not so long ago, I suspect if the bank continues its progress and the outstanding regulatory issues are not disastrous, and I don't see why they should be, then twice this price is more than possible before too long. My current largest holding so please note I am talking my book and of course WDIK and DYOR."- Any rationale/analysis whatsoever to justify them doubling?- Massive competition from state owned or backed enterprises in the juiciest EMs!- FinTech is massively disrupting barriers to entry in this sector.- That said a small-proportionate-to-portfolio investment may make sense at 750ish.- Disc. Stan was once my largest holding, I eventually took my losses on-the-chin and sold out completely. I do feel happier not holding this business........
old_punter
09 May 2018
Time to buy? Nothing posted here since November, perhaps no interest, but I reckon FWLIW that the shares c750p might be a decent bet. Operationally, the bank seems to be improving steadily, see the recent IMS, and becoming a lower risk business, and the market valuation is at a discount to 2017 reported net worth. As a basically profitable business in growth areas of the world this looks cheap to me, although there are some more fines to be levied. However, the capital position now looks strong enough to absorb likely fines. Another bull point is that, per the HL website, brokers' analysts are unenthusiastic at present.The shares were double this price not so long ago, I suspect if the bank continues its progress and the outstanding regulatory issues are not disastrous, and I don't see why they should be, then twice this price is more than possible before too long. My current largest holding so please note I am talking my book and of course WDIK and DYOR.
losskop
23 Nov 2017
Re: +3% today Reason is Citi upgrade, however well off the days high and back down now today. The results were not good considering the market they operate in and the less than optimistic forward view.if, however they get it right, particularly in the wm space, they should really do well and could take off when market realises
1al
22 Nov 2017
+3% today Good rise, but why? Anyone with a clue?Ial
commercia
01 Nov 2017
Re: Results very disappointing results. profits are not from growth. at least bad debt is not rising
old_punter
01 Nov 2017
Re: Results Agree with your assessment, encouraging progress in impairments and I like the strategy of growing in a lower risk manner and the focus on affluent/wealthy private customers which should be good margin as well as lower risk.If you annualise Q3 profit that makes c£2.5bn which looks quite good against a m/cap of £23bn given this is still in recovery mode and most important a bank earning $ revenue in mostly growth regions. I reckon but WDIK/DYOR today's fall from 750p to 706p is a chance to get on board or in my case add.
farmerdave
01 Nov 2017
Results OK results - think the market was looking for more which is why the sp dropped but steady ship at presentFD
Yee Wo
26 Sep 2017
Re: Loan bad debts iolat/nht, Agree with the sentiments expresses. IIRC my 1st purchase of StanChart was back in 2011 at the Lofty Price of £17.52. The businesses is still very much a work in progress. At some point though things may turn and it may be a Dividend paying business with a more visible future. If nothing else, for the UK based Investor, StanChart is a good-hedge against GBP weakness/volatility given most revenues are USD denominated. As mentioned previously <£6.50 would make StanChart an interesting (re)starting point for me.GLA!!YW.
