EvotingMachine0197 wrote:

What happened to the ordinary Anglo shareholder ? Did they get a penny or are the shares deemed zero value ?

An inspector is appointed to value the company who will in turn report to the Government on a figure of compensation to be paid per share. That compensation can technically be zero.

Was talking to someone on Saturday who owns quite a few shares in Anglo, she has simply assumed that they are now probably virtually worthless. She was advised to get out long ago, but no. Strange how people react at times. It is often like a cat caught in headlights. A refusal to believe what they can plainly see. A refusal to cut and run but instead sit and hope for better.

I know someone who works for Anglo and got a large proportion of their salary in shares. They got married and bought a house two years ago and had their first child in December... imagine how they feel. Not that anyone has any sympathy for bankers .

Excuse my ignorance again but can you get a mortgage on a portfolio of bank shares ??

Iseq heading for 2222 this morning. Looks like it could bottom-out today ...


http://www.sharewatch.com/iseq.php

Yup, she's tanking for the moment anyway...

Iseq financials hit a new low on opening went down to 396

AIB is very tempting today.

I agree with you EVM. Though had you got in about an hour ago you would have got it considerably cheaper than it is even now. It was about 45c an hour ago whereas it is now 52.5c

johnfás wrote:

I agree with you EVM. Though had you got in about an hour ago you would have got it considerably cheaper than it is even now. It was about 45c an hour ago whereas it is now 52.5c

Yeah, I know, I was running late today and only got to check in at about 10AM.

0.57 now.

Did you go in again yourself J ?

Nah, don't really have the money at the minute to be honest. I'm saving up for a few things next year so when I got out last time I put some money beyond reach in a savings account. If I did have it to hand I would buy at that level though. AIB is by far the strongest Irish bank so 45c is as good value as you are likely to get.

Gentlemen, your converstaion is freaking me out! Yes AIB may not collapse, but it could easily be nationlised, thus wiping you out. You would have to be mad to put any money into those shares unless you can afford to lose it and unless you are aware that what you are doing is gambling and not investing. If you're going to gamble, I'd suggest this is where you need to do it, and pick an area you know something about. Nobody knows what skullduggery is going on in the Irish Banks these days, so taking a punt there is folly, to say the least.

coc wrote:

Gentlemen, your converstaion is freaking me out! Yes AIB may not collapse, but it could easily be nationlised, thus wiping you out. You would have to be mad to put any money into those shares unless you can afford to lose it and unless you are aware that what you are doing is gambling and not investing. If you're going to gamble, I'd suggest this is where you need to do it, and pick an area you know something about. Nobody knows what skullduggery is going on in the Irish Banks these days, so taking a punt there is folly, to say the least.

Yes, fully aware it is gambling coc. Flip of a coin at the moment.

I can afford to lose all though would prefer not to. I can afford to wait years for a return if any. And it is a bit of fun with small punts.

In fairness it is not quite the same as gambling on a race. There are multiple differences. You only get one shot at the race. The share price can rise and fall over a sustained period, thus you have a proprietary interest rather than a one shot gamble. Taking out that propriertary interest is of course a gamble but the interest is not itself a gamble, unlike a bet on the races which is a double gamble.

And a horse does not have the support of a Government doing it's damndest to ensure it wins.

Banks recovering - nice time to play with the market if you have a couple of grand spare.

Other stocks down now - Drug and Cement stocks.

It looks so funny because it is zoomed in so much on the graph. That is only up 2 points and down two points.

Been busy lately, what are all these rumours about sovereign wealth funds and the dollar?

ISEQ Financials heading towards 420


FTSE 100 below 4000. This is a bit more interesting, It has been hovering 4000 -4200 for some time. Intervention in the market? Some believe that a further slide in shares is needed, I agree. It may be starting, so could go to previous low of arouse 3300 which was in 2003. Similar applies to S&P DOW etc.

It is worth watching.

The sooner we get these valuations and the valuation of other assets down to where people see value the sooner we will see proper recovery.

This is it... sooner we hit the bottom the sooner we can reorder things.

johnfás wrote:

This is it... sooner we hit the bottom the sooner we can reorder things.

A bit less government intervention would help, as any investment decision you make could easily be wiped out. It is not just banks, state sponsored business against non state sponsored, rigged markets, rigged values, direct intervention in markets etc.


A lot more transparency and proper regulation would also help. The amount of time and effort going into banks is a distraction from many other aspects that need attention.

A lot of building stocks went red today - and petrol ?? Where will it all end ?

It will end when confidence returns and no sooner.

ISEQ Financials just went through 420. Every where opening in the red may improve as the day moves on.