Search found 1219 matches

by hiriskpaul
April 17th, 2019, 5:01 pm
Forum: Venture Capital Trusts (VCT's)
Topic: XIRR on VCT Disposals
Replies: 20
Views: 842

Re: XIRR on VCT Disposals

Today I sold a Baronsmead Venture Trust VCT (previously Baronsmead VCT 2) which I purchased in March 2014 - i.e. just past the 5 year date. The (Sold Price + Dividends - Net Cost)/(Net Cost) expressed as a percentage was 62.38%. The Net Cost is the price I paid less the 30% tax relief. Not bad for ...
by hiriskpaul
April 16th, 2019, 3:33 pm
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Price up 1.75p since yesterday to 126.75, for a ytm of 6.0%. Still slightly higher yield than a year ago though, despite improved prospects.
by hiriskpaul
April 15th, 2019, 8:18 pm
Forum: Polite Discussions
Topic: Why did the BoE bother?
Replies: 30
Views: 548

Re: Why did the BoE bother?

I agree that banks got reckless with their approach to risk. But you are sidestepping hiriskpaul's sound point by invoking a rather rare and undesirable event. I have tried to make his point in different words in my last post. I hope you'll think about it and not be put off by my style -- or hirisk...
by hiriskpaul
April 15th, 2019, 7:23 pm
Forum: Gilts and Bonds
Topic: FCA's Instruction to Pref share issuers
Replies: 4
Views: 383

Re: FCA's Instruction to Pref share issuers

also RAVP who specifically issued a statement to clarify their position . They did a little more than that. They modified the Articles such that a reduction of capital in respect of RAVC/RAVP was treated as a variation of the class rights. i.e. class consent is now explicitly required. https://www....
by hiriskpaul
April 15th, 2019, 6:43 pm
Forum: Retirement Investing (inc FIRE)
Topic: Amusing pension prediction
Replies: 18
Views: 1233

Re: Amusing pension prediction

Have you thought about the maths of a negative total return for UK equities over 10 years when the current dividend yield for the asset class is over 4%? Assuming dividends did not grow at all and were just maintained and reinvested the capital value could halve and you would still end up roughly l...
by hiriskpaul
April 15th, 2019, 4:07 pm
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Don't worry about it. I've now used a different calculator and come up with 6.285% (Excel YIELD instead of Excel YIELDMAT) Not sure why they give different results. Ok, not sure what YIELDMAT does. YIELD is the one to use for bonds. You can sanity check your result by discounting all the future cas...
by hiriskpaul
April 14th, 2019, 9:43 pm
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Sorry to be stupid (especially as I already own some of these 42TE) but how do you arrive at a YTM of 6.30% with a purchase price of 125p? I seem to arive at 5.8% without allowing for dealing costs. Just using the excel yield () function. I may have incorrectly typed in a number, so could be wrong....
by hiriskpaul
April 14th, 2019, 8:18 pm
Forum: Polite Discussions
Topic: Why did the BoE bother?
Replies: 30
Views: 548

Re: Why did the BoE bother?

(I am familiar with the concept of fractional reserve banking - and the truth that bankers don't magic-up absolutely 100% of everything they "lend", just a multiple of, say, nine times the bit of seed-corn they get from depositors, by "a process so simple the mind is repelled," ...
by hiriskpaul
April 14th, 2019, 6:12 pm
Forum: Polite Discussions
Topic: What On Earth Is NonSpecific About ‘Leave’?
Replies: 257
Views: 3373

Re: What On Earth Is NonSpecific About ‘Leave’?

Someone told me yesterday that the referendum cannot be declared void due to the illegal activity from the leave side because the referendum was only advisory. If not advisory, as claimed erroneously by many leavers, then it would be declared void. Is this true? If so it strikes me as a glaring hole...
by hiriskpaul
April 14th, 2019, 5:53 pm
Forum: Retirement Investing (inc FIRE)
Topic: Amusing pension prediction
Replies: 18
Views: 1233

Re: Amusing pension prediction

Ok, now I understand. Just buy the shares that do better than the market. Simple really.
by hiriskpaul
April 14th, 2019, 3:34 pm
Forum: Retirement Investing (inc FIRE)
Topic: Amusing pension prediction
Replies: 18
Views: 1233

Re: Amusing pension prediction

Yes, because everybody knows actively managed funds don't lose money when markets fall Ah so, as the Japanese would say. Still a good reason not to buy index funds it would seem. I favour individual shares. I was not thinking of funds of any sort. Of course one may not believe the proposition anywa...
by hiriskpaul
April 14th, 2019, 3:30 pm
Forum: Polite Discussions
Topic: Why did the BoE bother?
Replies: 30
Views: 548

Re: Why did the BoE bother?

avconway, your understanding of how banking works is so muddled, it is difficult to know how to comment. All I can suggest is that you do some reading. This might be a good place to start:

https://en.m.wikipedia.org/wiki/Fractio ... ve_banking
by hiriskpaul
April 14th, 2019, 1:21 pm
Forum: Retirement Investing (inc FIRE)
Topic: Amusing pension prediction
Replies: 18
Views: 1233

Re: Amusing pension prediction

There are some (google hussman) who think that at current valuations stock market returns will be negative over the next 10 to 12 years. Capital gearing, personal assets, ruffed and other “permanent bears” lean toward this pessimism. I tend to agree and hold 20% cash. Trouble is I went 20% cash two...
by hiriskpaul
April 14th, 2019, 10:25 am
Forum: Retirement Investing (inc FIRE)
Topic: Personal investment companies
Replies: 15
Views: 2098

Re: Personal investment companies

Well it depends on what your income is during your time up to retirement, and to what extent your investment income makes you pay higher rate tax. If you had 800k invested in VWRL, you would have about 16k in dividends. I can't see it being worthwhile. If you had £10M, receiving about 200k in divid...
by hiriskpaul
April 13th, 2019, 5:14 pm
Forum: Investment Trusts and Unit Trusts
Topic: AIC Income Builder - Free Virtual Portfolio Tool
Replies: 49
Views: 2647

Re: AIC Income Builder - Free Virtual Portfolio Tool

[*] Fine-tune your portfolio to smooth monthly income throughout the year, ensure there are no periods without dividend payments, or shape your income to meet your needs Does anyone out there really care about this? Choosing an IT because it happened to pay in particular months of the year strikes ...
by hiriskpaul
April 10th, 2019, 10:40 pm
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Fair point. So, you don't think that when the next crash comes the insurance tail could wag the retail dog? In which case, yes, it would be a nice diversification. V8 Very little risk in the insurance side now (other than failure to make any money!): For Insurance during 2018, the priority was to d...
by hiriskpaul
April 8th, 2019, 3:31 pm
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Prices of the 2025 Final Repayment Notes unmoved this morning at 125 buy/123.55 sell. Cannot get on-line prices for the Instalment Repayment Notes. Thanks for this. I found ditto with the pricing. They do seem pretty decent but I'm soooo long Financials. Already trying to think how to replace BBYB ...
by hiriskpaul
April 8th, 2019, 1:40 pm
Forum: Polite Discussions
Topic: Customs Union - General
Replies: 150
Views: 1712

Re: Customs Union - General

The overall thrust of the Leave campaign was that we would get broadly the same benefits (some claimed exactly the same benefits) as we currently have through EU membership and this would be delivered via a trade and customs agreement. No-deal was ruled out as absurd as this was the easiest deal in ...
by hiriskpaul
April 8th, 2019, 12:11 pm
Forum: Gilts and Bonds
Topic: Enquest 7% 2022
Replies: 10
Views: 1399

Re: Enquest 7% 2022

Yes could just be oil price thanks. The last 2 payments were in cash, but personally I am not too worried about getting PIKs instead as redemption less than 3 years away now.
by hiriskpaul
April 8th, 2019, 11:54 am
Forum: Gilts and Bonds
Topic: Co-op Group
Replies: 20
Views: 2334

Re: Co-op Group

Solid 2018 results announced on Friday. Full details on the Co-op group site here: https://www.co-operative.coop/investors/annual-results Prices of the 2025 Final Repayment Notes unmoved this morning at 125 buy/123.55 sell, equivalent to YTMs of 6.30%/6.53%. The price seems very low to me considerin...

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