ScrumpyJack’s Activity

Yesterday

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Boards Post

ScrumpyJack replied to the Tesco plc board. 19:03

Re: Poll: Are you a buyer?

Just the property portfolio is about 22 billions

Certainly the property portfolio is said to be worth a lot more than book value, but unfortunately as supermarkets become less profitable the market value of the properties will fall to [more]

Sat Jul 26

NL

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ScrumpyJack replied to the Tesco plc board. 12:03

Re: Poll: Are you a buyer?

Of course one tactic may be for them to become a large housebuilder using all their unwanted land. That way the profit on building houses can be reported as part of their normal earnings and eps, and the dividend, shored up until the new CEO gets the [more]

NL

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ScrumpyJack replied to the GlaxoSmithKline plc board. 11:04

Re: GSK share price

They have declined relatively more than any other big pharma company in the last 20 years and that is despite merging. In 1995 GW was equal world number one with Merck.

Quite right! The current management is behaving like those who [more]

Fri Jul 25

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ScrumpyJack replied to the GlaxoSmithKline plc board. 17:29

Re: GSK share price

Yes I do still have some GSK shares but probably not for much longer. It's all very well to say that the other companies feature 'Core' profits excluding things like legal costs and written off development costs but these are real expenses which have [more]

Wed Jul 23

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ScrumpyJack replied to the GlaxoSmithKline plc board. 16:03

Re: Bought Today

and again the headline profits and earnings per share are a work of fiction. You have to wade through until you get to page 45 to see that actual earnings per share were 27.5p for the half year ('core' eps 41.4p), leaving the dividend of 38p for the [more]

NL

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ScrumpyJack replied to the Improve the Fool board. 09:38

Re: A little bit of proof reading goes a long wa

Speaking of proof reading

Ha, Ha. My mother was a secretary to Lord Halifax, then Foreign Secretary, in 1939 and took dictation from him by shorthand. He said 'The Iranian Ambassador sought an interview .....'. She must have been [more]

Thu Jul 17

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ScrumpyJack replied to the Bert's Investor Sanctuary board. 21:00

Re: The new reality ?

What's the point of paying 4 people to make things that, with automation, 2 could make for half the cost?
Paying 4 to do it without automation is the equivalent of paying for one of the redundant two to dig a hole and the other to fill it
[more]

Wed Jul 16

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Boards Post

ScrumpyJack replied to the Greene King plc board. 21:12

Re: safety of dividend

How many more property sale losses? I really don't know. These are probably 3rd rate tenanted pubs where it isn't practical to switch the offering more to food (which is the strategy for all pub companies), and where conversion to residential use is [more]

Tue Jul 15

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ScrumpyJack replied to the Greene King plc board. 21:56

Re: safety of dividend

They did spend a lot on buying more pubs - net capital expenditure was 131m. I think the dividend is pretty safe, as it's fair game for them to borrow money to buy more high quality pubs.

I was a bit more concerned that the pubs they sold in [more]

Tue Jul 8

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Boards Post

ScrumpyJack replied to the Paulypilot's Pub - Macro Topics board. 19:38

Re: Big 10 consumer product companies

Am I alone in believing these huge conglomerates have such a grip on markets, including supermarkets, such that they can demand inordinately high prices and act like cartels depressing living standards.

Yes you probably are. You only [more]

Mon Jul 7

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Boards Post

ScrumpyJack replied to the Royal Dutch Shell plc board. 08:31

Re: CGT arising from SCRIP

The calculation is described on about page 18 of this document

[more]

Sun Jul 6

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ScrumpyJack replied to the Paulypilot's Pub - Macro Topics board. 20:11

Re: QE and Inflation

The German fear of inflation - historically usually ascribed to folk memory of the Hyper-inflation of the 1920s - looks to have severely constrained efforts to rescue the eurozone.

Germany is doing pretty well. The problem is with the [more]

Sat Jul 5

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ScrumpyJack replied to the Paulypilot's Pub - Macro Topics board. 17:28

Re: QE and Inflation

Of course if we have an economy that has always had inflation, for there to be no inflation is difficult, in the same way as a drunk finds it much easier to have just one more drink than to sober up and endure the hangover. Unfortunately we have so [more]

Thu Jul 3

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ScrumpyJack replied to the Bert's Investor Sanctuary board. 17:08

Re: Fed is reinvesting QE bonds

Everything is relative. Sterling used to be worth $4, then $2.80 then down down down. I remember my great uncle talking about his skiing trips to Switzerland before the first world war, I seem to recall there were about 23 swiss francs to the pound [more]

Wed Jul 2

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Boards Post

ScrumpyJack replied to the Royal Dutch Shell plc board. 21:28

Re: CGT arising from SCRIP

http://www.shell.com/global/aboutshell/investor/dividend-inf...

This gives the necessary info. Click on the US & UK tax basis tab. This gives [more]

NL

Boards Post

ScrumpyJack replied to the BP plc board. 21:14

Re: BP seeks to wrest back GOM compensation....

The US should realise that the 'special relationship' is not all one way.

They have never treated it as anyway special, except for occasional polite lip service when a British PM is visiting. To them it has no substance except that [more]

NL

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ScrumpyJack replied to the Exchange Traded Funds (ETFs) board. 21:02

Re: Vanguard FTSE 100 VUKE

Yes it was the Vodafone divi. I hold both VUKE and ISF and curiously whilst VUKE seems to have treated the whole Vodafone payout as dividend, ISF did not, so there was a huge quarterly divi from VUKE (and corresponding SP drop), but not from ISF.

NL

Boards Post

ScrumpyJack replied to the Bert's Investor Sanctuary board. 20:56

Re: Fed is reinvesting QE bonds

The absurdly low interest rates have pumped up gilt prices, making equities look extremely cheap by comparison. Moreover equities, being a claim on real assets and business operations, have a realistic hope of at least maintaining their real value in [more]

NL

Boards Post

ScrumpyJack replied to the Selftrade Products & Services board. 20:40

Re: Regular investment - FTSE250

It won't be Selftrade compiling it, the list of companies in the FTSE100 and FTSE250 indices, and those ejected or added at each review, is compiled and published by the London Stock Exchange, having previously been a joint venture between the [more]

Wed Jun 18

NL

Boards Post

ScrumpyJack replied to the Lloyds Banking Group plc board. 15:12

Re: TSB IPO & US Citizens

Lots of brokers will no longer have as a client anyone who is a US citizen because of all the regulations and form filling imposed worldwide by the US. It doesn't matter how many other citizenships you have, if US is one of them your broker has to [more]

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Boards Stats & Trivia

Big red star, 1000 posts
Board Posts 1073
Recs Received 4102
People who have rec'd these posts 928
Recs to Posts Ratio (last 30 days) 2.80
Threads Started 45
Threads Started Percentage 4.19 %
Most Frequent Board Equitable Life Support
Very First Post Re: Article: Whitbread Goes Teetotal (19/10/2000)
Percentage of Posts Rec'd 74.84 %
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