The Lemon Fool

I have been one of those more or less absent contributors since early October until this last week because of a longish stay in hospital but now that I am back I find little of interest and little on investment topics.
It is all very disappointing. I appreciate that this time of year does not produce much company news and any Santa Rally looks somewhat muted (although I note that since early October the market has rallied a bit) s
Some notable exceptions though. AstraZeneca seems to have fallen out of favour in a big way and as I said earlier my income is holding up quite well ( although I am sorry to have to admit it is not going to be quite as good as I claimed earlier; l apologise for that. Blame it on an old man’s brain being a bit fogged with pills!)
Having to concentrate on more or less life and death matters sure puts things into perspective.

Dod

Dod101 wrote:I have been one of those more or less absent contributors since early October until this last week because of a longish stay in hospital but now that I am back I find little of interest and little on investment topics.
It is all very disappointing. I appreciate that this time of year does not produce much company news and any Santa Rally looks somewhat muted (although I note that since early October the market has rallied a bit) s
Some notable exceptions though. AstraZeneca seems to have fallen out of favour in a big way and as I said earlier my income is holding up quite well ( although I am sorry to have to admit it is not going to be quite as good as I claimed earlier; l apologise for that. Blame it on an old man’s brain being a bit fogged with pills!)
Having to concentrate on more or less life and death matters sure puts things into perspective.

Dod

Sorry to hear you’ve not been so well. I agree it’s frustrating sometimes that there is a lack of interesting discussion on investing on TLF but that’s probably a result of most folk using ITs, funds and ETFs these days rather than individual shares that were more widely discussed on Motley Fool.

All the best,Si

Dod101 wrote:I have been one of those more or less absent contributors since early October until this last week because of a longish stay in hospital but now that I am back I find little of interest and little on investment topics.
It is all very disappointing. I appreciate that this time of year does not produce much company news and any Santa Rally looks somewhat muted (although I note that since early October the market has rallied a bit) s
Some notable exceptions though. AstraZeneca seems to have fallen out of favour in a big way and as I said earlier my income is holding up quite well ( although I am sorry to have to admit it is not going to be quite as good as I claimed earlier; l apologise for that. Blame it on an old man’s brain being a bit fogged with pills!)
Having to concentrate on more or less life and death matters sure puts things into perspective.

Dod

Sorry to hear you have not been well.
Some of the most interesting discussions of late on TLF have been on bonds

I too and sorry to hear of your struggles.

As for investing talk, I tend to do a bit more when thinking of buying which I'm not currently looking to do till post any santa rally.

The rally seems to have started or we had a up day which just happened to be the only trading day in December.

I do hold some EPIC shares which will be taken from me after management threw in the towel and sold off all the assets. So that money will need a new home in the new year. Ideally with an income bent.

The new ISA rules might change the way I do some things. Apparently you will be able to add funds, within your limits into different brokers. So you could put funds into separate accounts for income, growth, It's or ETFs.

I did look at swapping those EPIC to Ebox and after some research decided to make a move only to find my broker didn't offer them or SMIF. Hopefully the new rules will help with issues like this.

Income has already surpassed last years so that good but I suspect the start of the new year it will be down on last year's. Having sold a share that paid out in Jan and the loss of Epics monthly income it might take a quarter or two to replace that income. It will also dent the annual figures too but I hope that year end sees an overall increase again. Some companies have announced increases in dividends. NG. And Pnn. I might have another look at the latter. Debt was up again and while I like growing dividends is it being stretched a tad.

I might look a bit closer at Nat West when Sid does his thing but it all depends on what they offer and the outlook at the time.

HFEL would cover the EPIC income

Dod101 wrote:I have been one of those more or less absent contributors since early October until this last week because of a longish stay in hospital but now that I am back I find little of interest and little on investment topics.
It is all very disappointing. I appreciate that this time of year does not produce much company news and any Santa Rally looks somewhat muted (although I note that since early October the market has rallied a bit) s
Some notable exceptions though. AstraZeneca seems to have fallen out of favour in a big way and as I said earlier my income is holding up quite well ( although I am sorry to have to admit it is not going to be quite as good as I claimed earlier; l apologise for that. Blame it on an old man’s brain being a bit fogged with pills!)
Having to concentrate on more or less life and death matters sure puts things into perspective.

Dod

Sorry to hear of your hospital stay, Dod. I hope all is well now.

Re investment discussions, I share your "disappointment" re the continuing fall in posts on investment matters. I feel it doesn't help that posts are often spread across multiple boards. However, rather than highjack your thread, I have however posted about that separately, here:
viewtopic.php?p=631378#p631378

I'll have a go...

viewtopic.php?p=631385#p631385

viewtopic.php?p=631382#p631382

Vand has raised a question regarding Hargreaves L. I Seem to recall Simoan casting an eye over HL in a Gimme Strength ( trade mark Simoan) review.

viewtopic.php?p=631369#p631369

Dod101 wrote:I have been one of those more or less absent contributors since early October until this last week because of a longish stay in hospital but now that I am back I find little of interest and little on investment topics.
It is all very disappointing. I appreciate that this time of year does not produce much company news and any Santa Rally looks somewhat muted (although I note that since early October the market has rallied a bit) s
Some notable exceptions though. AstraZeneca seems to have fallen out of favour in a big way and as I said earlier my income is holding up quite well ( although I am sorry to have to admit it is not going to be quite as good as I claimed earlier; l apologise for that. Blame it on an old man’s brain being a bit fogged with pills!)
Having to concentrate on more or less life and death matters sure puts things into perspective.

Dod

Sorry to hear that you have been in hospital, Dod. I hope that you recover well.

The markets always have gone up and down, and despite some falls of late, my portfolio is not far off it's high points. This is a quiet time for company reports, but so far there has been little to frighten the horses. Rumours of corporate activity keep popping up, but little actual action. My current high flier is Admiral, which is not far off my triggering point for top slicing. At the other end are TATE and Reckitt, both with lowish yields which has kept them out of eligibility for topping up but their time may come. I have about 10 shares which are disqualified from topping up because to do so would take them over 5% share of income. WDS, TW. and BATS are already over that level because of dividend growth.

I anticipate some excitement in the months to come. We may have to grasp any opportunities which comes our way.

TJH

simoan wrote:there is a lack of interesting discussion on investing on TLF but that’s probably a result of most folk using ITs, funds and ETFs these days rather than individual shares that were more widely discussed on Motley Fool.

For me the issue is that I have lost all interest in UK shares, and even funds that invest in UK shares. But that is what most of the discussion is about here.

Then a lot of the discussion is about HY shares and funds. Again, they are of no interest to me.

So I spend more time looking at US sites, and TLF has become more about amusement and entertainment. I guess I am part of the problem that Dod cites.

My latest pension plan report shows an annualised total return of 10.5% for the last decade. This is 100% in US shares. If it continues to compound at over 10% a year, on average, then there really isn't much to talk about as I am perfectly happy with a doubling of my pot ever 7 years.

Lootman wrote:For me the issue is that I have lost all interest in UK shares, and even funds that invest in UK shares. But that is what most of the discussion is about here.

Then a lot of the discussion is about HY shares and funds. Again, they are of no interest to me.

So I spend more time looking at US sites, and TLF has become more about amusement and entertainment. I guess I am part of the problem that Dod cites.

I'm in a broadly similar position, albeit with a bit more interest in UK investing and a lot less interest in non-investment discussions.

Last month I decided that I spend far too much time online, in particularly at the expense of reading books and magazines, so I have cut back.

Lootman wrote:

simoan wrote:there is a lack of interesting discussion on investing on TLF but that’s probably a result of most folk using ITs, funds and ETFs these days rather than individual shares that were more widely discussed on Motley Fool.

Then a lot of the discussion is about HY shares and funds. Again, they are of no interest to me.

My latest pension plan report shows an annualised total return of 10.5% for the last decade. This is 100% in US shares. If it continues to compound at over 10% a year, on average, then there really isn't much to talk about as I am perfectly happy with a doubling of my pot ever 7 years.

I've noticed before that you avoid income stocks so as to minimise tax.
So how do you generate an income?
Are you living off immoral earnings?

V8

88V8 wrote:

Lootman wrote:Then a lot of the discussion is about HY shares and funds. Again, they are of no interest to me.

My latest pension plan report shows an annualised total return of 10.5% for the last decade. This is 100% in US shares. If it continues to compound at over 10% a year, on average, then there really isn't much to talk about as I am perfectly happy with a doubling of my pot ever 7 years.

I've noticed before that you avoid income stocks so as to minimise tax.

So how do you generate an income?

Are you living off immoral earnings?

I guess my first response to that would be that I do not feel that I need an income so much as I need cashflows. So my biggest tax hit each year is from CGT. For the last 15-20 years I have sold stuff leading to CGT and some of the proceeds sit in cash, to pay my bills.

My wife still works and she makes a very good salary, although she will retire early and then things might change a bit.

I was also a landlord until 2010 but no more.

I do invest immorally though. Oil, alcohol, gambling and particularly "defence". No baccy but one cannabis share. For a while there was a US-listed brothel but that may not exist any more

Lootman wrote:

88V8 wrote:I've noticed before that you avoid income stocks so as to minimise tax.
So how do you generate an income?
Are you living off immoral earnings?

For a while there was a US-listed brothel but that may not exist any more

Shareholder benefits?

V8

88V8 wrote:

Lootman wrote:For a while there was a US-listed brothel but that may not exist any more

Shareholder benefits?

Not sure. It was called the Mustang Ranch, and in Nevada of course. I believe it listed on Nasdaq.

At some point it went bankrupt and because it owed taxes, it ended up being seized by the IRS, So for a while it was operated by the US government.

I recall reading that there might also be a listed brothel in Australia.

Lootman wrote:

simoan wrote:there is a lack of interesting discussion on investing on TLF but that’s probably a result of most folk using ITs, funds and ETFs these days rather than individual shares that were more widely discussed on Motley Fool.

For me the issue is that I have lost all interest in UK shares, and even funds that invest in UK shares. But that is what most of the discussion is about here.

Then a lot of the discussion is about HY shares and funds. Again, they are of no interest to me.

So I spend more time looking at US sites, and TLF has become more about amusement and entertainment. I guess I am part of the problem that Dod cites.

My latest pension plan report shows an annualised total return of 10.5% for the last decade. This is 100% in US shares. If it continues to compound at over 10% a year, on average, then there really isn't much to talk about as I am perfectly happy with a doubling of my pot ever 7 years.

I’m pleased to hear yet another person has lost interest in UK listed shares. It seems to be a common theme and therein lies opportunity for others. I will mostly be investing in the UK over the next 12 months and will try to start a few investment threads along the way.

I hear what you’re saying about US shares and my own US portfolio has returned 12.3% CAGR on a USD basis, mostly from oversized positions in Microsoft, Apple, Cameco and Qualcomm. On a GBP basis the return is even higher due to the long term weakness of Sterling. In fact, whilst doing a CGT calculation last week I realised my original Microsoft holding was up around 2,000% in GBP but only 1250% in USD. So there had been a strong following wind from the exchange rate for UK investors.

simoan wrote:

Lootman wrote:For me the issue is that I have lost all interest in UK shares, and even funds that invest in UK shares. But that is what most of the discussion is about here.

My latest pension plan report shows an annualised total return of 10.5% for the last decade. This is 100% in US shares

I hear what you’re saying about US shares and my own US portfolio has returned 12.3% CAGR on a USD basis, mostly from oversized positions in Microsoft, Apple, Cameco and Qualcomm.

My only forays into the USA have been the ITS MWY Mid Wynd, USA, and MNKS. All of them have disappointed. So in the USA as in most areas, timing matters.
They also illustrate the problem with 'growth' shares, which is that absent growth, you've got nothing. At least with income stocks one has the income. And the tax of course.

V8

88V8 wrote:

simoan wrote:I hear what you’re saying about US shares and my own US portfolio has returned 12.3% CAGR on a USD basis, mostly from oversized positions in Microsoft, Apple, Cameco and Qualcomm.

My only forays into the USA have been the ITS MWY Mid Wynd, USA, and MNKS. All of them have disappointed. So in the USA as in most areas, timing matters.

V8

I don't invest in IT's generally and would never invest in the US this way. Part of the reason for doing so is access to large liquid technology and healthcare companies (the best in the world) although I also have long term holdings in PepsiCo and Procter & Gamble. A far better investor than me once said "it's time in the market, not timing the market that counts" and that's what it comes down to. IT's and funds trade far too much, change managers etc. I've held Microsoft for nearly 20 years and Apple and Qualcomm for more than 10 years. It comes back to the old Terry Smith quote about buying good companies and then doing nothing.

simoan wrote:

88V8 wrote:My only forays into the USA have been the ITS MWY Mid Wynd, USA, and MNKS. All of them have disappointed. So in the USA as in most areas, timing matters.

I don't invest in IT's generally and would never invest in the US this way. Part of the reason for doing so is access to large liquid technology and healthcare companies (the best in the world) although I also have long term holdings in PepsiCo and Procter & Gamble. A far better investor than me once said "it's time in the market, not timing the market that counts" and that's what it comes down to. IT's and funds trade far too much, change managers etc. I've held Microsoft for nearly 20 years and Apple and Qualcomm for more than 10 years. It comes back to the old Terry Smith quote about buying good companies and then doing nothing.

Same here although Qualcomm has been disappointing in the last couple of years. My positions in Nvidia and Broadcom have done much better in the chip space.

Since the low during the global financial crisis the US market has had an annualised average return of over 15%. If an investor was not in the US then they almost definitely under-performed against a global benchmark.

Lootman wrote:I do invest immorally though. Oil, alcohol, gambling and particularly "defence". No baccy but one cannabis share. For a while there was a US-listed brothel but that may not exist any more

One to consider is RCI Hospitality Holdings, whose main business is Strip Clubs with sidelines in night clubs, casinos and restaurants. RCI also has a "convention company that serves the adult club industry".

RCI used to be known as "Rick's Place", market cap. is about $570 million.

https://en.wikipedia.org/wiki/RCI_Hospitality_Holdings
https://seekingalpha.com/symbol/RICK

I'd argue that in today's world some defence companies are more ethical than many "ethical" companies, particularly when they're supplying Ukraine. Thales is one; their NLAWs (supplied to Ukraine by Britain) were a major factor in stopping the Russian advance on Kyiv in February 2022. Probably turned the course of the war. Then there's AeroVironment, the American drone specialist, whose Switchblade 300 and 600 kamikaze drones are being used in Ukraine as I type this (the Ukrainians don't post many videos of Switchblades, I think that the White House gets twitchy about videos of Russian soldiers and tanks getting blown up by obviously American weapons).

Another "immoral" company in which I own shares is Smith & Wesson. Its revolvers became very popular during the American Civil War whilst in the 1970s the Smith & Wesson Model 29 .44 Magnum became an internationally known American cultural symbol thanks to Clint Eastwood using it in the Dirty Harry films. Here's the famous speech:

“I know what you’re thinking. ‘Did he fire six shots or only five?’ Well, to tell the truth, in all this excitement, I’ve kinda lost track myself. But being as this is a .44 Magnum, the most powerful handgun in the world and would blow your head clean off, you’ve got to ask yourself one question: ‘Do I feel lucky?’ Well, do ya punk?”

https://www.youtube.com/watch?v=8Xjr2hnOHiM#t=1m34s

Dod101 wrote:Lack of investment topics again

When there's nothing good on TV do you blame the TV set or the people making the TV programmes?

I.e. there are plenty of boards here where anyone can post all kinds of interesting stuff, e.g. I spotted the HL thread mentioned above and found it very interesting. What more could we do to encourage investment topics here? We have 29 boards on investing and share dealing (and loads of others covering other aspects of life like personal finance and general help).

You can't force people to post.

Chris

It seems to me that TLF is, generally, 'reactive'...ie, something goes wrong -then we discuss.
Having said that, there have been some recent interesting discussions on government bonds (short dated, index linked) and Preference shares.