Credit deflation and the reflation cycle to come (part 5)

[Axeman123]

2 minutes ago, JMD said:

In fact round here our pavements were resurfaced recently using a really rough and ugly asphalt mix which they just laid on top of the old asphalt and the finish is so un-evan puddles form after rain... 

Had similar round here, leaflet through the door from the council saying water-based etc. Only real difference I can see is made it uniform coca-cola coloured, rather than patchy black/grey before. I was jokin to the neighbour around then that you would think they were tarting the place up to sell! 

[Castlevania]

1 hour ago, baffledbyzirp said:

On another note I am looking into Latin funds and am interested in buying ABRDN Latin Income Accumulation. Are there better alternatives? I am also confused by the pricing procedure that appears to occur once a day. You have to undertake to buy the fund without agreeing the price in advance. Any ideas of suggestions would be most welcome.

Happy New Year all and best of luck with this years investments.

The investment trust version (LSE ticker ALAI) is trading at a hefty discount to NAV.

Edit: not sure if the fund and investment trust are exactly the same, but if they are then I’d buy the investment trust.

Edited January 4, 2023 by Castlevania

[honkydonkey]

9 hours ago, Errol said:

What's the best Middle East focused ETF or investment trust?

I think search for ETF's called Frontier and see what they're made up of. I recall this one having Saudi stuff.

BlackRock Frontiers Investment Trust PLC

Edited January 4, 2023 by honkydonkey

[JMD]

3 hours ago, twocents said:

Probably applying for jobs in the UK's role as a science superpower and the next silicon valley.

Apparently Sunak now has big ambitions for the UK to become the next maths superpower, to run alongside our already established status of being a 'science superpower'!?    ...Great to see that during these tumultuous times that our PM is prioritising the best policies for this country and using his time in office so effectively and productively!! 

[reformed nice guy]

1 hour ago, sancho panza said:

@Cattle Prod anyone else.PBR looking good value in a well bid oilies marekt

I've coma scored it 5 chart,5 income, 3 balance sheet,5 FCF,3 sector(sector is pretty pumped now,not a lot of value out there)

meaning 21/25 which is a god score in my little world.On examining the Market watch balance sheet figures,very little goodwill/intagibles on there and a healthy portion attritubatlebe to equity holders

dyor natch but I think I'm going to dip a toe here and start a laddert.

https://www.marketwatch.com/investing/stock/pbr/financials/balance-sheet

I hold some Petrobras, bought a massive amount in March 2020. Dividend is wonderful but I did sell off a ladder at ~12ish due to the political risk. My basic understanding is that Lula and his socialist clique will put party men onto the board, messing things up a bit. My next ladder price is 9 personally but thats because I have a decent holding.

Good news for gold bugs - excluding one week in August 2020 then gold is at an all time high priced in British pounds. To me that reinforces gold role as a way to protect wealth against government (in this case, currency devaluation + incompetence + terrible policies + all the other things). Gold is money, everything else is credit.

[JMD]

3 hours ago, DurhamBorn said:

Looks a nice way to play doesnt it.Ok we arent leveraging the whole gains,but if we can capture some in solid companies its a big bonus.Not sure who the big baccy players are in the Middle East,BAT sold Iran i think.

Had a quick read through of below interesting 3 year old article. Mentions Egypt is the biggest single ME country market and is dominated there by Eastern Tobacco (east). Unfortunately looks like I can't buy it in my HL/interactive investor platforms, pity it had a 11% divi!!

https://www.tobaccoasia.com/features/current-tobacco-industry-dynamics-in-the-middle-east-and-afr/

Edited January 4, 2023 by JMD

[Jay]

31 minutes ago, honkydonkey said:

I think search for ETF's called Frontier and see what they're made up of. I recall this one having Saudi stuff.

BlackRock Frontiers Investment Trust PLC

Templeton and I shares do Middle East etf..not sur how good they are..

Middle East has had a lot of ipos recently and prices have risen a lot up until a couple of months ago..

marlboro is a baccy seller so I think Philip Morris is the owner.

you can buy directly in a few Qatar, Saudi and UAE companies as foreigners as foreign ownership is very restricted..you would need to have local banks and brokers

also the currencies are pegged to the dollar so there is risk if the dollar weakens..

Turkey and Egypt are easier to buy in and probably offer better value..israel is even better and offers some good opportunities in tech..

Mark möbius May have some funds in the region as he has an office..it is a high risk area in terms of regulatory framework, corporate governance and opaqueness…

Turkish markets have had good run as well..if you have Turk cell when db mentioned it then you will be very happy..be lucky..

 

 

[Lightscribe]

https://www.dailypost.co.uk/news/north-wales-news/copper-gold-silver-could-soon-25863321?int_source=amp_continue_reading&int_medium=amp&int_campaign=continue_reading_button#amp-readmore-target
 

So are we expanding the Dosbods mining empire to North Wales?

We can give the bennie brigade pickaxes so they can mine coal in Durham and precious metals in Wales to get the UK back on track.

[belfastchild]

3 hours ago, Funn3r said:

Effectively my own "ISP" is already segregating out the heavy streaming customers. I pay 45/month for VDSL with a 300GB data cap. For "typical" internet use such as web surfing you'd be hard pushed to hit that cap. Once you start on torrenting or 4k Netflix streaming though you're likely to bust through it and be paying for additional gigabytes of traffic. 

So that must be Ofcom-legal already.

Is that a rural connection or a legacy contract?

That was typical of the old DSL contracts years ago but I was talking earlier about paying 17.50 a month for 5g connection (600+mb down, 80+mb up and no limit).

[Plan-b]

1 hour ago, JMD said:

Apparently Sunak now has big ambitions for the UK to become the next maths superpower, to run alongside our already established status of being a 'science superpower'!?    ...Great to see that during these tumultuous times that our PM is prioritising the best policies for this country and using his time in office so effectively and productively!! 

Disingenuous wingnut pr*ck, of all the things that need time and money spent on in this country and he comes up with this shite. I'm certain most will be more than happy to see the back of him and his ilk when they get wiped out in the next GE.

[Bobthebuilder]

2 minutes ago, Plan-b said:

I'm certain most will be more than happy to see the back of him and his ilk when they get wiped out in the next GE.

I don't think they will even make it to the next GE, the state of the NHS will bring them down soon enough. I was talking to a mate today (who I know is reading this thread  ), about a South coast hospital A&E, that apparently is shockingly filthy with some people on stretchers, that have been waiting 3 days for treatment.

They will not survive this, hence Dishey Risheys speech today.

[Plan-b]

6 minutes ago, Bobthebuilder said:

I don't think they will even make it to the next GE, the state of the NHS will bring them down soon enough. I was talking to a mate today (who I know is reading this thread  ), about a South coast hospital A&E, that apparently is shockingly filthy with some people on stretchers, that have been waiting 3 days for treatment.

They will not survive this, hence Dishey Risheys speech today.

Yes I've had a similar experience with acquaintances and the NHS last year, hence my anger. I didn't catch his speech and TBH I won't be seeking to listen to it.  

We do not want or need anymore career politicians the names we know and hate are finished forever, and thats from any party. No more.

Edited January 4, 2023 by Plan-b

[nirvana]

FOMC minutes are out.....

FED OFFICIALS AGREE THEY ARE ALL A BUNCH OF CUNTS!!! 

[HousePriceMania]

Never saw this coming...

 

 

[nirvana]

BREAKING: FED OFFICIALS SEE HIGHER RATES FOR ‘SOME TIME’

 

[Plan-b]

18 minutes ago, Bobthebuilder said:

I don't think they will even make it to the next GE, the state of the NHS will bring them down soon enough. I was talking to a mate today (who I know is reading this thread  ), about a South coast hospital A&E, that apparently is shockingly filthy with some people on stretchers, that have been waiting 3 days for treatment.

They will not survive this, hence Dishey Risheys speech today.

I really hope your right and they have to go to the country early and get floor wiped. The first thing I hope happens when they are gone is every single one of them is banned from politics for life and sent to Rwanda with all their mates.

[PETR4]

4 hours ago, BurntBread said:

Petrobras features at nearly 5% of holdings in BRLA, so I guess a lot of folks here have a little slice already. I think there was some discussion previously about political risk for this one specifically (rather than Brazilian shares in general), but I don't remember the details of the discussion. That was why I didn't build a separate holding.

It was my opening post!

For originality, my user name is the ticker symbol and my photo is the Rio HQ office building.

 

Posted August 26, 2022

I am going over shortly so will report back to the thread the scene on the ground.

I hold the  Fidelity Funds - Latin America Fund W-Acc-GBP in my SIPP. This is the factsheet and as you say it's 5.67% Petrobras.

https://www.fidelity.co.uk/factsheet-data/factsheet/LU1033664027-fid-funds-latin-america-fund-w-acc-gbp/portfolio

 

[Axeman123]

59 minutes ago, Bobthebuilder said:

They will not survive this,

What mechanism do you envision though?

Violent revolution?

Tories vote no confidence in the government and force an election they can't win?

1922 remove Pishy's 12 month immunity and allow Tory MPs to trigger a leadership contest?

As above, but Pishy jumps before he is pushed?

The last one is plausible (barely), The preceeding one possible (technically). The first two? Not so much IMO.

In the event of a leadership contest only BJ could possibly claim a mandate. That would need public dissatisfaction to be pretty spectacular first IMO.

[MrXxxx]

BTL man "Mortgage prices/rates increasing, no problem, I will just increase my tenants rent"...er no so far Mr BTL man!

https://www.msn.com/en-gb/money/homeandproperty/london-landlords-forced-to-cut-rents-as-tenants-priced-out/ar-AA15WZov?ocid=mailsignout&pc=U591&cvid=b69b54787dd8434cb0f4426867267c7a

[Long time lurking]

 

[jc747]

Sunak is merely a continuity puppet until Johnson returns to fight the next election. Bookmark this

[Axeman123]

2 minutes ago, jc747 said:

Sunak is merely a continuity puppet until Johnson returns to fight the next election. Bookmark this

Functionally he maybe a benchwarmer now, but I don't think he or his people saw it that way until he actually got into no 10. I can only assume as new PM they show you the real UK "books", and they show that everything is totally fucked.

What BJ can do actually differently though I don't know. Can he deliver the @DurhamBorn manifesto, of shit sandwhiches for breakfast lunch and dinner as the only alternative to systemic collapse? In a lot of ways it would likely resemble "getting brexit done", entrenched vested interests, hostile briefing campaigns from within Whitehall, maybe even the supreme court etc needing to be stood down. Would BJ really want the gig though, on that basis?

[Noallegiance]

1 hour ago, Plan-b said:

Disingenuous wingnut pr*ck, of all the things that need time and money spent on in this country and he comes up with this shite. I'm certain most will be more than happy to see the back of him and his ilk when they get wiped out in the next GE.

Reminds me of a previous life when I worked inside corporate Britain for a big bank over a decade ago.

Morale was lower than the earth's mantle, systems were in place to measure how long you spent going to the loo and everybody hated the work, the place and the management. What did they do? Bought new chairs.

[M S E Refugee]

Just started buying Dignity on my Freetrade ISA and my 2 Shares are up 25% today.

I think it is going Private.

Fucks sake! 

Edited January 4, 2023 by M S E Refugee

[Jay]

5 minutes ago, M S E Refugee said:

Just started buying Dignity on my Freetrade ISA and my 2 Shares are up 25% today.

Fucks sake! 

Well played..bad luck about holding size..got a takeover offer…still not a bad return for a days work..wot u buyin next..