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Metro Article - Mostly HYP shares!

General discussions about equity high-yield income strategies
OLTB
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Metro Article - Mostly HYP shares!

#106788

Postby OLTB » December 30th, 2017, 11:25 am

Morning All - I haven't posted much over Christmas as I've been knee-deep in Lego with my seven year old trying to make a Ferris Wheel (I am now classing myself as a Master Builder!).

I've posted a link to an article regarding a 90 year old who died and had accumulated signifiant wealth which included three HYP stalwarts mentioned here http://metro.co.uk/2017/12/29/teacher-l ... t-7191488/

There isn't much detail I'm afraid and, as he was a Teacher, the DB pension + any State Pension I'm sure went a long way to covering the costs of his 'modest semi-detached home' that is mentioned in the article. With the majority of dividends therefore likely to have been re-invested and perhaps investing spare money (who knows!), he has left a very decent lump sum left to a charitable trust in his own name - what a wonderful legacy.

Here's to a successful 2018... dry January looms :?

Cheers, OLTB.

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Re: Metro Article - Mostly HYP shares!

#106815

Postby moorfield » December 30th, 2017, 2:16 pm

OLTB wrote:Morning All - I haven't posted much over Christmas as I've been knee-deep in Lego with my seven year old trying to make a Ferris Wheel (I am now classing myself as a Master Builder!).

I've posted a link to an article regarding a 90 year old who died and had accumulated signifiant wealth which included three HYP stalwarts mentioned here http://metro.co.uk/2017/12/29/teacher-l ... t-7191488/

There isn't much detail I'm afraid and, as he was a Teacher, the DB pension + any State Pension I'm sure went a long way to covering the costs of his 'modest semi-detached home' that is mentioned in the article. With the majority of dividends therefore likely to have been re-invested and perhaps investing spare money (who knows!), he has left a very decent lump sum left to a charitable trust in his own name - what a wonderful legacy.

Here's to a successful 2018... dry January looms :?

Cheers, OLTB.



Ahh, the "Lego Anger" ... You should try the Bucket Wheel Excavator ... 8-)

"gambling on the stock market" is sloppy financial journalism :x

But well done Mr Pincock, sad perhaps that he didn't spend some more of it, but it's gone to a very worthy home.

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Re: Metro Article - Mostly HYP shares!

#106854

Postby monabri » December 30th, 2017, 7:39 pm

£2.312m DGE
£0.216m AZN
£0.040m GSK

I wonder what else was in the p/f ?

He certainly had a thing about DGE though!

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Re: Metro Article - Mostly HYP shares!

#106866

Postby DiamondEcho » December 30th, 2017, 8:21 pm

moorfield wrote:- "gambling on the stock market" is sloppy financial journalism :x
- But well done Mr Pincock, sad perhaps that he didn't spend some more of it, but it's gone to a very worthy home.


- It struck me the same way, few 'gamblers' make that much money, and/or manage to hold onto it.
- And again I felt the same way. It saddens me to hear of people who die rich. They inevitably have denied themselves so much, and so many times through their investing life, to end up having done so mostly for the benefit of others. But I've read of such before, people who live a hair-shirt lifestyle only to leave millions for others. For him to have left it in a charitable trust with executors etc... presumably that was his plan - in which case good for him.

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Re: Metro Article - Mostly HYP shares!

#106871

Postby DiamondEcho » December 30th, 2017, 8:38 pm

p.s. and too late to edit my previous, so separately...

You can find his will via Googling on > 'REGISTERED CHARITY NUMBER: SC024691'. But that doesn't detail the assets.
The only press articles I could find just mentioned Diageo, AZN and GSK.

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Re: Metro Article - Mostly HYP shares!

#106935

Postby Gengulphus » December 31st, 2017, 10:47 am

DiamondEcho wrote:- And again I felt the same way. It saddens me to hear of people who die rich. They inevitably have denied themselves so much, ...

That's a judgement based on your values, not necessarily on theirs. It is entirely possible to not spend money on things - even things that are generally recognised as signals of success, wealth, etc - because one simply doesn't want them, not because one is 'denying' oneself them.

As an example that will be particularly relevant tonight, I don't much like champagne. I could easily afford to buy more champagne than I could drink (at least without killing myself!) but I never buy it for myself. I'll happily buy it as a present for people I know who do like the stuff when a present is appropriate, and I'll drink a glass on social occasions when it's expected, but my own preference is generally for not-very-fizzy craft beers. Per litre, they typically cost somewhere of the order of a fifth of the price of champagne. Am I really obliged to spend five times as much on something I like much less just to send out a signal to the world that I can afford a "champagne lifestyle"??? ;-)

In short, I'm not denying myself champagne - I simply don't want it.

Gengulphus

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Re: Metro Article - Mostly HYP shares!

#106949

Postby OLTB » December 31st, 2017, 11:30 am

Gengulphus wrote:
DiamondEcho wrote:- And again I felt the same way. It saddens me to hear of people who die rich. They inevitably have denied themselves so much, ...

That's a judgement based on your values, not necessarily on theirs. It is entirely possible to not spend money on things - even things that are generally recognised as signals of success, wealth, etc - because one simply doesn't want them, not because one is 'denying' oneself them.

As an example that will be particularly relevant tonight, I don't much like champagne. I could easily afford to buy more champagne than I could drink (at least without killing myself!) but I never buy it for myself. I'll happily buy it as a present for people I know who do like the stuff when a present is appropriate, and I'll drink a glass on social occasions when it's expected, but my own preference is generally for not-very-fizzy craft beers. Per litre, they typically cost somewhere of the order of a fifth of the price of champagne. Am I really obliged to spend five times as much on something I like much less just to send out a signal to the world that I can afford a "champagne lifestyle"??? ;-)

In short, I'm not denying myself champagne - I simply don't want it.

Gengulphus


Thanks Gengulphus - that’s similar to my father’s thinking when spending cash. He grew up with nothing and through hard work / canny investing has found himself with a very decent DB pension and significant IT portfolio (he keeps his cards close to his chest so I don’t know the details!). Anyway, when it comes to spending, he says that even though he could afford certain purchases, he doesn’t necessarily buy them as he doesn’t consider them value for money. It’s the same with his holidays, even though he could afford first class, he doesn’t choose to fly that way as he doesn’t see the value. I’m learning that what is important to one individual may be the polar opposite to the other. I’m trying to get him to complete his ‘bucket list’ before he’s too old, but his priority is having enough to pay care fees...

Cheers, OLTB

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Re: Metro Article - Mostly HYP shares!

#107009

Postby Lootman » December 31st, 2017, 3:05 pm

OLTB wrote: my father’s thinking when spending cash. He grew up with nothing and through hard work / canny investing has found himself with a very decent DB pension and significant IT portfolio (he keeps his cards close to his chest so I don’t know the details!). Anyway, when it comes to spending, he says that even though he could afford certain purchases, he doesn’t necessarily buy them as he doesn’t consider them value for money. It’s the same with his holidays, even though he could afford first class, he doesn’t choose to fly that way as he doesn’t see the value. I’m learning that what is important to one individual may be the polar opposite to the other. I’m trying to get him to complete his ‘bucket list’ before he’s too old, but his priority is having enough to pay care fees...

Self-imposed frugality is quite common particularly amongst the generation that lived through the 1930's Depression and world war two. Perhaps if you lived through that period, even if only as a child, it affects you in a way that baby boomers cannot conceive. So when I would ask my parents why they didn't spend their excess money the rationalisation given was usually "you never know what might happen" or "there's nothing I really want".

And the outcome was much as in the case you cited here - dying rich. Which led to me getting an inheritance that was very nice, but that I didn't really need, along of course with a nice windfall for the taxman.

So whilst it is possible that somebody might not derive any pleasure from material goods or indulgent services, I think trying to dress that up as some kind of virtue is a little excessive. Taking your example of flying First class, for instance, that is something that I started doing about a decade ago and, at this point, I'm not going back to flying in Economy again, except for short-haul flights anyway. Premium cabin travel may not be good value for money, but if I'm going to be stuck in a tin can with a bunch of strangers for 10 hours, I want to do it in some style and comfort.

Which is not to advocate for indiscriminately throwing money around, but rather not to deny yourself anything that gives you pleasure or makes your life easier. In my case I don't have an excessive need for "things" but I am always happy to pay for services. To me, the best things about having a few extra bob is that if there is some item or experience that I want, I can have it. And that I never have to do something that I don't want to do, assuming of course that there is somebody else willing to do it for a price.

The aim is to strike a happy balance between extravagant excess and petty miserliness.

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Re: Metro Article - Mostly HYP shares!

#107017

Postby DiamondEcho » December 31st, 2017, 3:15 pm

Gengulphus wrote:In short, I'm not denying myself champagne - I simply don't want it. Gengulphus

You're talking about drinking champagne, I'm talking about say people who won't turn on the heating until there is routinely frost on the inside of windows on a winters morning. The latter was my childhood experience, and I'm not intending to relive it nor inflict in on my wife TYVM.

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Re: Metro Article - Mostly HYP shares!

#107018

Postby moorfield » December 31st, 2017, 3:22 pm

Lootman wrote:The aim is to strike a happy balance between extravagant excess and petty miserliness.


Very well put.

DiamondEcho wrote:You're talking about drinking champagne, I'm talking about say people who won't turn on the heating until there is routinely frost on the inside of windows on a winters morning. The latter was my childhood experience, and I'm not intending to relive it nor inflict in on my wife TYVM.


I prefer a good glass of Chateau de Chasillier these days. Who'd a thought. ;)


Happy New Year to you.

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Re: Metro Article - Mostly HYP shares!

#107020

Postby DiamondEcho » December 31st, 2017, 3:30 pm

OLTB wrote:Anyway, when it comes to spending, he says that even though he could afford certain purchases, he doesn’t necessarily buy them as he doesn’t consider them value for money. It’s the same with his holidays, even though he could afford first class, he doesn’t choose to fly that way as he doesn’t see the value. OLTB


I think I'm the same. If I'm booking a long-haul holiday I might choose to upgrade from economy but only if I believe it'll be worth it (value for money). That is more likely on one of the gulf carriers IME, esp long-haul, and less so on many EU and US carriers. Ditto with hotels, esp with long w/e's away, I'll splurge if I've concluded it's worth it. - Watch the pennies in day-to-day life, which pays for such occasional real treats.
FWIW I could likely fly first class now and again too, but have never had the desire - I can't see what value it might offer over business class on a good airline to justify the circa 100% premium.

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Re: Metro Article - Mostly HYP shares!

#107025

Postby Wizard » December 31st, 2017, 3:49 pm

Whilst interesting, I'm struggling to see what this has to do with high yield shares and strategies.

Terry.

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Re: Metro Article - Mostly HYP shares!

#107028

Postby OLTB » December 31st, 2017, 4:00 pm

Wizard wrote:Whilst interesting, I'm struggling to see what this has to do with high yield shares and strategies.

Terry.


Yes, perhaps the conversation has moved on to something else non-HYP related. Better stop or be moved to Investment Strategies (other).

Cheers, OLTB.


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