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Lloyds bank

GoSeigen
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Re: Lloyds bank

#671596

Postby GoSeigen » June 29th, 2024, 1:10 pm

yyuryyub wrote:ready to bale out.


'cos the grass is greener on the other side?

GS

Socrates
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Re: Lloyds bank

#672813

Postby Socrates » July 5th, 2024, 9:21 am

Vince wrote:
ReallyVeryFoolish wrote:Well done, it's all in the timing. I sold at about a 7% loss.

RVF


I've been underwater with Lloyds since around 2009, absolute stubbornness, never ending rounds of averaging down, and an unhealthy obsession to break even and not be beaten, keep me invested in what has got to be the most frustrating share anyone has ever had the misfortune of holding outside of going bust, sometimes I find myself wishing it had, the pain would have been immense but much less short lived, it's akin to having tooth ache for the last 12 years.

I'll break even at 60.5p, I'm throwing a party on that day, right after I sell the lot.

Vince


Looking back at this post today, I posted this, then lost my user details so re-registered with a new user name.

Well, today, and after a few buys over the previous couple of years to get my average cost per share to just above 58p, I broke even. its been a long 15 years hanging on when all seemed lost :D

I've had a few decent dividend payments in between the wilderness years to ease the pain, and it was a certainty in my mind that I would sell out of Lloyds as soon as the investment broke even, but here we are with a minute profit, and I don't know what to do.

Ironic really, the day we get a new Labour government and Lloyds comes good for me personally, it was Labour and Brown that forced the bank into buying HBOS and the start of 15 years of pain, but all is forgotten on this break even day.

The issue now is, I'm hesitant to sell, replacing the income, which is growing, isn't straightforward, the shares in issue are falling, and Lloyds are actually looking like a decent investment, so, I'll hang on in the hope that interest rates fall enough to give the economy a much needed lift, mortgage take up may increase on the back of lower interest rates, a rising share price with growing income is desirable in any investment if like me, I need income to supplement pensions.

All income is protected from tax in an ISA, I'll sit on my hands and see what the first few months of a Labour government bring, hopefully, I'll return in another 15 years still wondering what to do with the most annoying investment I've ever owned.

Vince/Socrates

Padders72
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Re: Lloyds bank

#672831

Postby Padders72 » July 5th, 2024, 10:00 am

Socrates wrote:
Vince wrote:
I've been underwater with Lloyds since around 2009, absolute stubbornness, never ending rounds of averaging down, and an unhealthy obsession to break even and not be beaten, keep me invested in what has got to be the most frustrating share anyone has ever had the misfortune of holding outside of going bust, sometimes I find myself wishing it had, the pain would have been immense but much less short lived, it's akin to having tooth ache for the last 12 years.

I'll break even at 60.5p, I'm throwing a party on that day, right after I sell the lot.

Vince


Looking back at this post today, I posted this, then lost my user details so re-registered with a new user name.

Well, today, and after a few buys over the previous couple of years to get my average cost per share to just above 58p, I broke even. its been a long 15 years hanging on when all seemed lost :D

I've had a few decent dividend payments in between the wilderness years to ease the pain, and it was a certainty in my mind that I would sell out of Lloyds as soon as the investment broke even, but here we are with a minute profit, and I don't know what to do.

Ironic really, the day we get a new Labour government and Lloyds comes good for me personally, it was Labour and Brown that forced the bank into buying HBOS and the start of 15 years of pain, but all is forgotten on this break even day.

The issue now is, I'm hesitant to sell, replacing the income, which is growing, isn't straightforward, the shares in issue are falling, and Lloyds are actually looking like a decent investment, so, I'll hang on in the hope that interest rates fall enough to give the economy a much needed lift, mortgage take up may increase on the back of lower interest rates, a rising share price with growing income is desirable in any investment if like me, I need income to supplement pensions.

All income is protected from tax in an ISA, I'll sit on my hands and see what the first few months of a Labour government bring, hopefully, I'll return in another 15 years still wondering what to do with the most annoying investment I've ever owned.

Vince/Socrates


For now! Lets hope they don't decide to monkey around with ISAs, imposing a lifetime cap or similar for instance. That would be a big blow for me if they did as I use mine as a pseudo pension pot.

brightncheerful
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Re: Lloyds bank

#672980

Postby brightncheerful » July 5th, 2024, 6:34 pm

"it was Labour and Brown that forced the bank into buying HBOS"

was it/did they? I thought Lloyds bought because they'd' given their word.

I think I'm correct is saying that was why Lloyds bought Hill Samuel.

GoSeigen
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Re: Lloyds bank

#673025

Postby GoSeigen » July 5th, 2024, 10:13 pm

Socrates wrote:I've had a few decent dividend payments in between the wilderness years to ease the pain, and it was a certainty in my mind that I would sell out of Lloyds as soon as the investment broke even, but here we are with a minute profit, and I don't know what to do.


Double up your holding.

I am not joking. Opinion formed from bitter experience.


GS

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Re: Lloyds bank

#673048

Postby dealtn » July 6th, 2024, 7:35 am

Socrates wrote:
Well, today, and after a few buys over the previous couple of years to get my average cost per share to just above 58p, I broke even. its been a long 15 years hanging on when all seemed lost :D

I've had a few decent dividend payments in between the wilderness years to ease the pain, and it was a certainty in my mind that I would sell out of Lloyds as soon as the investment broke even, but here we are with a minute profit, and I don't know what to do.



Price anchoring is ridiculous behaviour. Completely illogical since the day you bought to the day when you "broke even". The price you paid is irrelevant to the decision to why you remain an investor (or not). It is only about the future, not the past (with the slight exception around taxation).

Lootman
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Re: Lloyds bank

#673051

Postby Lootman » July 6th, 2024, 7:46 am

GoSeigen wrote:
Socrates wrote:I've had a few decent dividend payments in between the wilderness years to ease the pain, and it was a certainty in my mind that I would sell out of Lloyds as soon as the investment broke even, but here we are with a minute profit, and I don't know what to do.


Double up your holding.

I am not joking. Opinion formed from bitter experience.

GS

I sometimes think that you are the most reliable contrarian indicator here, and so worth reading for that reason alone.

I have avoided UK banks for over 15 years and continue to. There is quite simply no reason to invest in them.

GoSeigen
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Re: Lloyds bank

#673074

Postby GoSeigen » July 6th, 2024, 9:54 am

Lootman wrote:
GoSeigen wrote:
Double up your holding.

I am not joking. Opinion formed from bitter experience.

GS

I sometimes think that you are the most reliable contrarian indicator here, and so worth reading for that reason alone.

I have avoided UK banks for over 15 years and continue to. There is quite simply no reason to invest in them.


That is evidence Lootman's own poor management of his investments, it is nothing to do with my statement above or my view on the outlook of banks.

Lootman's poor timing investing in banks and the result can be contrasted with the performance of our portfolio, and I use my daughter's ISA as an example since Lootman himself called my allocation of her assets "criminal". These are the top ten positions in her ISA by size and performance of each:

Ticker    Description                                     Share of     Gain since
portfolio purchase
MBSR Newcastle Building Soc 8% PIBS of GBP1000 10% 315%
BIRG Bank of Ireland Group Ord Shs EUR 1 9% 96%*
CB5 LYXOR STOXX EUROPE 600 BANKS UCITS ETF ACC 9% 98%
BARC Barclays PLC Ordinary 25p 7% 36%
COST Costain Group Ordinary Shares of GBP 1P Each 7% 35%
LLOY Lloyds Banking Group Plc Ord Shs 10p 7% 0%**
IJPN iShares Plc MSCI Japan UCITS ETF (DIST) 6% 74%
WBS West Bromwich Building Society 6.15% PIB 6% 152%
FXC iShares Plc China Large Cap UCITS ETF 5% -5%
MKS Marks and Spencer Ordinary Shares Of 1p Each 5% 117%

[
(*) Part of BIRG holding was bed-and-ISAed last year, actual gain is around 240%
(**) Part of LLOY holding was bed-and-ISAed last year, actual result small loss
]
None of the above include dividends.

So Lootman, if you wish to use my statements as a contrarian indicator and continue losing money [EDIT or missing huge gains], BE MY GUEST!




GS

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Re: Lloyds bank

#673081

Postby Lootman » July 6th, 2024, 10:12 am

GoSeigen wrote:
Lootman wrote:I sometimes think that you are the most reliable contrarian indicator here, and so worth reading for that reason alone.

I have avoided UK banks for over 15 years and continue to. There is quite simply no reason to invest in them.

That is evidence Lootman's own poor management of his investments, it is nothing to do with my statement above or my view on the outlook of banks.

Lootman's poor timing investing in banks and the result can be contrasted with the performance of our portfolio, and I use my daughter's ISA as an example since Lootman himself called my allocation of her assets "criminal". So Lootman, if you wish to use my statements as a contrarian indicator and continue losing money, BE MY GUEST!

For the record Lootman is at least honest: 16 years ago my call for banks was to short their shares and buy the bonds. Lootman did the opposite and bought the ords and complains about poor results. I am ROFL.

You don't know what I did 16 years ago but it certainly was not to load up on broken UK banks. Not sure why you think lying and making stuff up helps your cause.

All I know is that according to your own posts you have made a series of bad bets including UK banks, but also UK shares in general. And, probably most spectacularly, shorting US shares! And yet you list only your highly-selective "greatest hits".

And when you did publish your overall returns, insofar as we can believe you, I had beaten them by a few hundred basis points annually and consistently over 15 years. And with much less risk.

Nor has your perverse love of bonds done you any favours in the last couple of years, which was utterly predictable. Your biggest problem is that you appear to only know one area - financials, and so you over-invest in that whilst missing out on the huge gains available elsewhere. You are very much like Pyad in that respect - you exhibit blinkered thinking and an inflated sense of your ability - both harmful to wealth.

But as I said, you do have the virtue of being consistently off the boil, and that is paradoxically useful to other investors here.

GoSeigen
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Re: Lloyds bank

#673083

Postby GoSeigen » July 6th, 2024, 10:17 am

Lootman wrote:...


Wait until the user has finished editing before going off on one dude!

GS
P.S. If you're using me as a contrarian indicator for your investment as you claim it's pretty damn obvious how you are investing!
Last edited by csearle on July 24th, 2024, 9:07 am, edited 1 time in total.
Reason: To moderate the quote.

csearle
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Re: Lloyds bank

#675799

Postby csearle » Today, 9:05 am

Moderator Message:
Team, can we try and make this discussion less personal. I suggest self-moderating in some way all sentences containing the pronoun you. Thanks. - Chris


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