Finance & Investments

[cunningman]

Based on expected annual revenues of around $18bn and a flotation valuation of roughly $1.8 trillion, investors are valuing SpaceX at about 100 times annual sales.

Revenue - not even profit.  FFS.

[PepeMAGA]

Just read an article which at the end had this about the Space X IPO saying on current valuations it's 100 times annual sales 

There is clearly a voracious appetite for artificial intelligence and ambitious new technologies. However, the SpaceX IPO has raised fears about AI mania - particularly given the company’s valuation. Based on expected annual revenues of around $18bn and a flotation valuation of roughly $1.8 trillion, investors are valuing SpaceX at about 100 times annual sales.

Annual sales of what though? Skylink is their only profitable part of the business ATM but that's not where the value lies. I think the valuation is based on technology that isn't currently making revenue like starship and compute capacity.

[PepeMAGA]

Micron release Q3 results in a week's time. Worth considering getting in now, is not already.

[Watts.E.Dunn]

Cant understand him wanting to set up an office on Mars unless there are some very worth a lor minerals or matals there Rodium Platignum golds etc.

As to intersteller space the voyager probes that have bene travelling since the 1970's have gone past the edge of the solar system and are some 0.001 % of the way to the neaerst star thats of no real interest i can't see how anyone or thing has ever got to earth anyway seems daft to me to distances involved are well - astronomic!!..

[alabama1]

Good couple of days for stocks 

Let's hope things can stay stable regarding the transportation and cost of oil / gas etc, now just wait for something else / someone else to do something to fuck things up 

My thoughts too. Since retirement, my pot has had to survive brexit, covid, Ukraine war, and now Iran conflict. Fingers crossed for at least a couple of years of no dramas in the world !

[PepeMAGA]

My thoughts too. Since retirement, my pot has had to survive brexit, covid, Ukraine war, and now Iran conflict. Fingers crossed for at least a couple of years of no dramas in the world !

COVID was a great time to buy though, if you could stomach the risk

[Vice Admiral]

Economics is not one of my areas of expertise.  (But then nor is it the current Chancellor of the Exchequer's, so at least I'm in good company.)

Here's something I've never understood.  Perhaps someone can explain. 

Today's Times reports that Asda's pre-tax losses in the year to December were £989,000,000.

Now if I looked at my bank statement one morning and I found that I was 989 very big ones in the red, I'd kind of worry.  Might even have to think about selling the second Roll-Royce.

But Asda?  They just go on piling high the Wotsits and Percy Pigs, with chairman Allan Leighton blithely saying, "We're eternally confident that we're on the right track."  (The word "eternally" is a massive giveaway, incidentally.  It gives off the smell of desperation.)

Anyway, how can big companies go on losing shed-loads of money in this way with no apparent consequences?  Why doesn't the Captain Mainwaring figure in their lives pay them a visit to say, "Steady on. You're living in the realms of fantasy."

[PepeMAGA]

Economics is not one of my areas of expertise.  (But then nor is it the current Chancellor of the Exchequer's, so at least I'm in good company.)

Here's something I've never understood.  Perhaps someone can explain. 

Today's Times reports that Asda's pre-tax losses in the year to December were £989,000,000.

Now if I looked at my bank statement one morning and I found that I was 989 very big ones in the red, I'd kind of worry.  Might even have to think about selling the second Roll-Royce.

But Asda?  They just go on piling high the Wotsits and Percy Pigs, with chairman Allan Leighton blithely saying, "We're eternally confident that we're on the right track."  (The word "eternally" is a massive giveaway, incidentally.  It gives off the smell of desperation.)

Anyway, how can big companies go on losing shed-loads of money in this way with no apparent consequences?  Why doesn't the Captain Mainwaring figure in their lives pay them a visit to say, "Steady on. You're living in the realms of fantasy."

Also this. So buy a company, but then transfer the debt to that company 

Hidden Image/Members Only

[Vice Admiral]

Also this. So buy a company, but then transfer the debt to that company 

Hidden Image/Members Only

I see.

Either way, Asda seems to be in a bit of a mess.  Ditto Morrisons.  In the supermarket game it seems to be best either to be publicly quoted (like Tesco and Sainsbury's) or be owned by very rich Huns (like Aldi and Lidl).

A year ago the struggling Poundland chain was sold to an American investment firm for £1, so I'm thinking of offering the Issas, TDR Capital and Walmart (who I see still own 10%) a quid for Asda.  They might bite my hand off.

[Blackpool Rock]

Economics is not one of my areas of expertise.  (But then nor is it the current Chancellor of the Exchequer's, so at least I'm in good company.)

Here's something I've never understood.  Perhaps someone can explain. 

Today's Times reports that Asda's pre-tax losses in the year to December were £989,000,000.

Now if I looked at my bank statement one morning and I found that I was 989 very big ones in the red, I'd kind of worry.  Might even have to think about selling the second Roll-Royce.

But Asda?  They just go on piling high the Wotsits and Percy Pigs, with chairman Allan Leighton blithely saying, "We're eternally confident that we're on the right track."  (The word "eternally" is a massive giveaway, incidentally.  It gives off the smell of desperation.)

Anyway, how can big companies go on losing shed-loads of money in this way with no apparent consequences?  Why doesn't the Captain Mainwaring figure in their lives pay them a visit to say, "Steady on. You're living in the realms of fantasy."

Have to say I didn't even know that Walmart had sold Asda.

Always seems strange to me that a company or investor of some kind can borrow money to buy another company and then weigh them down with the debt, as I recall as an individual i'm not able to borrow money to invest in stocks or shares on the basis they may go down etc 

[PilotMan]

I'm thinking of offering the Issas, TDR Capital and Walmart (who I see still own 10%) a quid for Asda.  They might bite my hand off.

You will also need deep pockets in order to keep paying the bills each week.

[coachman]

Also this. So buy a company, but then transfer the debt to that company 

Hidden Image/Members Only

yea seems wrong, but goes on all the time and is especially popular with american hedge funds, Private equity firms. you offer to buy Home Bargains for 2bn,then approach Barclays and convince them to lend you 1,999,999,900 to buy home bargains and tell em to put the charge on Home bargains balance sheet! 

[RandomGuy99]

BBC News - The people living hyper frugally so they can retire early - BBC News
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BBC News - Why Gen Z are planning for life without a state pension - BBC News
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[Blackpool Rock]

BBC News - The people living hyper frugally so they can retire early - BBC News
External Link/Members Only

BBC News - Why Gen Z are planning for life without a state pension - BBC News
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Yep I used the FIRE principle, it worked for me 

[Norwichwood]

I wanted FIRE at 16 - but at 34 I had nothing - no job, g/f or money, again! (hit the skids as I turned 30 as well). I went back to live with my mother for 18 months - took a job - started a side Hussle - did UPW committed to mastery - got myself up to £20k and a small pension - went to Norwich again - 2 long jobs - now at 54 can retire. As Charlie Minger says - the first $100k is the hardest - but you got to do it. I now have a snowball which makes more than my job (which is generous) and income needs

Thinking of starting a new side hustle. Which is what that couple did in the link - showing others how to get to FIRE.

[Vice Admiral]

According to today’s Times:

More than 170 years after Halifax was founded during the Industrial Revolution, the banking name is set to disappear from British high streets.

Lloyds Banking Group confirmed on Wednesday that Lloyds would become the group’s main brand and that all Halifax branches would be renamed next year.

Lloyds’ decision has been called “bitterly disappointing” by Kate Dearden, the Labour MP for Halifax. The local Labour group said it was “deeply disappointed”, adding: “The Halifax name is more than a banking brand — it is part of our town’s identity and heritage, recognised across the UK and beyond.”

I sympathise with Kate and the people of Halifax, although sadly the decision probably has a certain inevitability about it.  But don’t you just hate the disingenuous window-dressing?

Jas Singh, chief executive for consumer relationships at Lloyds, says: “As Halifax changes to Lloyds, our Halifax customers will keep everything they know and love today — the same fantastic app design, the same friendly faces in our branches — even the same sort code and account number.”

Now look here, Jas.  No-one “loves” their sort code and their account number.  The only thing they might conceivably “love” about the Halifax (in a small way) is the name and the logo.  And they are disappearing.

[Vice Admiral]

[Same post.  I don't know how it managed to post itself twice, but I've deleted the second iteration!]

[sonic999]

Anyone close to retirement age wondering where to put their money to ensure a decent monthly payout? Iv'e go a reasonable pot in ISAs, And currently getting a monthly payout from a pension I took out, I have one I am currently paying into as still work full time, Not asking for actual advice but just a general question as to what others are doing, Got about 140 grand in savings which is only paying around 4% on ISAs my pension pot is around 7.5% on the investment but reluctant to put my money into it. 62years old and wanting to pack in the shite job I have and relax.

[Mi-Go]

If you can, then transfer your ISA to a fixed term ISA.  May pay out more in interest and protect you in case interest rates fall in the next few years.

[Blackpool Rock]

https://www.ukpunting.com/index.php?topic=397904.0

[RandomGuy99]

If you can, then transfer your ISA to a fixed term ISA.  May pay out more in interest and protect you in case interest rates fall in the next few years.

A fixed cash ISA would give you 4% pa fixed for the 5 years.

[PepeMAGA]

Anyone close to retirement age wondering where to put their money to ensure a decent monthly payout? Iv'e go a reasonable pot in ISAs, And currently getting a monthly payout from a pension I took out, I have one I am currently paying into as still work full time, Not asking for actual advice but just a general question as to what others are doing, Got about 140 grand in savings which is only paying around 4% on ISAs my pension pot is around 7.5% on the investment but reluctant to put my money into it. 62years old and wanting to pack in the shite job I have and relax.

It depends how much risk you are willing to accept and what you would like to get out of it

[Squire Haggard]

Anyone close to retirement age wondering where to put their money to ensure a decent monthly payout? Iv'e go a reasonable pot in ISAs, And currently getting a monthly payout from a pension I took out, I have one I am currently paying into as still work full time, Not asking for actual advice but just a general question as to what others are doing, Got about 140 grand in savings which is only paying around 4% on ISAs my pension pot is around 7.5% on the investment but reluctant to put my money into it. 62years old and wanting to pack in the shite job I have and relax.

I find this site very useful for ISAS, bonds, and the rest. 4.6% for a one year ISA or 4.9% for a one year bond with Marcus. Got one with them already, bought about 6 months ago at a lesser rate.

External Link/Members Only

More long winded but usually shows the same accounts.
External Link/Members Only

[Blackpool Rock]

Program on C4 tonight at 9pm called "How to get filthy rich"

Now I don't really expect to glean much useful info from it however it might be an interesting watch 

[PilotMan]

Program on C4 tonight at 9pm called "How to get filthy rich"

Now I don't really expect to glean much useful info from it however it might be an interesting watch 

I think the title was total click bait.

It's Gary Stevenson promoting his "opinion" that the rich should have a super tax on them so that the less well off can have it by way of reduced tax on their wages. He's trying to make a comparison with how taxation was 100 years ago,  when the working class paid less tax, and wealthy people paid more.

Gary doesn't seem to realise that unlike 100 years ago, wealth doesn't necessarily stay close to where it originated from, it's mobile and liquid.

He reminds me of a typical conspiracy theorist, no matter the overwhelming evidence, I'll twist and turn things to make my story credible (to the gullible at least).

[Blackpool Rock]

I think the title was total click bait.

It's Gary Stevenson promoting his "opinion" that the rich should have a super tax on them so that the less well off can have it by way of reduced tax on their wages. He's trying to make a comparison with how taxation was 100 years ago,  when the working class paid less tax, and wealthy people paid more.

Gary doesn't seem to realise that unlike 100 years ago, wealth doesn't necessarily stay close to where it originated from, it's mobile and liquid.

He reminds me of a typical conspiracy theorist, no matter the overwhelming evidence, I'll twist and turn things to make my story credible (to the gullible at least).

Presumably you watched it as I did and yes the title was 100% click bait, basically an hour and a half of my life that I won't get back 

My assumption (from the title) was that the program would be about how to make money as in whether to start a business in XYZ or invest in property or stocks etc but it became clear after 20 or 30 minutes that this wasn't going to be the case and he was just pushing a wealth tax for the super rich

I'm not really in favour of a wealth tax itself and as others on the program said I don't think he's thought through the full effect of what may happen if it's introduced.
I do however think that everyone should pay their fair share of tax so the 1st thing to do would probably be to get the super rich and multinationals to actually pay what they should

[PilotMan]

Presumably you watched it as I did and yes the title was 100% click bait, basically an hour and a half of my life that I won't get back 

Once I started watching, I didn't like his general attitude to a super wealth tax. However, I wanted to watch it so that I at least gave took the time to try to understand his ideas and consider them.

I did feel that his supporting arguments were quite weak, using outdated historical contexts and trying to pull on our heart strings with his personal anecdotes about his parents and grandparents.

In fairness to him, he did introduce others who had the totally opposite opinion, which added balance. But he seemed to think that rich people won't leave the UK if they're hit with an unexpected tax bill. There are only a small number (600 - 700k) of "liquid" millionaires in the UK. The vast majority have their Millionaire status tied up in their main dwelling. He is proposing taxing the rich, irrespective of how their wealth is constructed. And I make him right, those people won't leave, because they are tied down to a house / home where they have roots and they most likely won't have enough liquid funds or a way of making an income if they leave the country.

We already have a mansion tax, and that applies to someone with a house worth more than £2M, even if you are mortgaged to the hilt with low net assets. So it's true, the vast majority of paper millionaires just can't pack up and leave the country.

However, the very rich with lots of liquid assets are leaving as they see the writing on the wall. They're going to places like the UAE, Switzerland, Cyprus and Italy.

I do however think that everyone should pay their fair share of tax so the 1st thing to do would probably be to get the super rich and multinationals to actually pay what they should

I agree.

However, I find it distasteful the notion held by many, that by default the rich are greedy and unwilling to pay their fair share.

We need the rich to invest in the UK economy and infrastructure, after all, the root of where tax money comes from all starts with businesses. That said, we do need to look at the tax system and how individuals are able to extract profits from a business and pay very little tax.

[Norwichwood]

"and how individuals are able to extract profits from a business and pay very little tax" - how do they do that? There are legit ways like salary sacrifice - but what are they doing wrong?

And this game (escorts and massage extras) - is a cash business - do you think many of them are declaring the money?

[PilotMan]

"and how individuals are able to extract profits from a business and pay very little tax" - how do they do that? There are legit ways like salary sacrifice - but what are they doing wrong?

They are doing nothing wrong, mitigating tax is why you pay accountants.

A Director wouldn't use salary sacrifice, that's more for employees. There are much better alternative methods for Director owners.

Outside of that, I'll give you one method - a holding company.

[Mr Garmin]

They are doing nothing wrong, mitigating tax is why you pay accountants.

A Director wouldn't use salary sacrifice, that's more for employees. There are much better alternative methods for Director owners.

Outside of that, I'll give you one method - a holding company.

I suggested on the Seeking thread that there will be more than one company director that will have his SB on the payroll as a 'cleaner' or similar.  The obvious advantage of this is that she gets paid out of untaxed income even if the employer has to pay her NI.  Another even better method is for her to give him an invoice for cleaning the office once a week and that's the end of it. 

[RandomGuy99]

Well done the Dells

BBC News - Dell family to seed Trump accounts for kids with $250
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