What do you want from this club?

Discussion of the proposed Cashback Investment Club

Moderator: CIC officers

Which statement most closely matches the investment approach you want our club to take?

Poll ended at Tue Mar 27 2018 12:00pm

Cautious: We should invest in relatively safe, established companies. I am happy to limit the potential gains we might make and do not want to take high risks
2
25%
Adventurous: I am investing with funds that I can afford to lose and am happy to invest in high risk companies to have a chance of achieving high returns
6
75%
 
Total votes: 8

richard@imutual
Posts: 6163
Joined: Wed Jun 23 2010 10:19am
Sharing: 2stars.png
Has thanked: 1880 times
Been thanked: 4097 times
Contact:

What do you want from this club?

Post by richard@imutual » Tue Mar 20 2018 11:00am

The discussion and vote on my proposal seems to have concluded inconclusively :(

From the comments made, it struck me that at least part of the reason for a lack of consensus is that members have different starting points for what they want from the club and, in particular, their attitude to risk possibly differs quite markedly from my own

I want to find out whether this is true or not and would be grateful if all members could vote on the poll in this thread. I'm sure we could all debate the wording, but I do think the result will be illuminating

My own position is that I want the club to err on the side of "adventurous"; (note: this is different from my personal investing philosophy). I have no interest in limiting ourselves to well-researched FTSE 100 companies; I think we've already demonstrated our inability to "beat the market" in that sector, and the potential gains are modest. I don't see that as offering anything interesting that would justify the time I spend on this, and in this scenario we may as well just stick the funds in a tracker and forget about them

But I appreciate that others may take a different view. Perhaps there is even an argument for creating a second fund, to allow people to choose between two different philosophies

Feel free to use this topic to elaborate on your views
Thanked by: blythburgh, garindan

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: What do you want from this club?

Post by blythburgh » Tue Mar 20 2018 11:04am

Sounds like an excellent poll.
Thanked by: kevinchess1, garindan
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

BeautifulSunshine
Posts: 26721
Joined: Tue Sep 14 2010 8:23pm
Location: [The Finest City in the World: London]
Has thanked: 192 times
Been thanked: 3686 times
Contact:

Re: What do you want from this club?

Post by BeautifulSunshine » Tue Mar 20 2018 11:15am

richard@imutual wrote:But I appreciate that others may take a different view. Perhaps there is even an argument for creating a second fund, to allow people to choose between two different philosophies
A second fund would allow all members to get what they want from the imutual Cashback Investment Club.
Thanked by: kevinchess1
[imutual Cashback Investment Club]

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: What do you want from this club?

Post by blythburgh » Tue Mar 20 2018 11:28am

If there is a second fund then the members should be able to put tick which fund they want the money to go into each time they add to club funds.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

garindan
Posts: 980
Joined: Wed Jun 30 2010 3:20pm
Location: Midlands
Has thanked: 486 times
Been thanked: 632 times
Contact:

Re: What do you want from this club?

Post by garindan » Tue Mar 20 2018 12:13pm

It's an interesting poll to see the results from, when they are in.

The reason the club was set-up as it was initially was to try and ensure we didn't invest in too "feisty-looking" shares, so as to limit the chances of making a loss and make modest profit that might appeal to the imutual membership. Clearly, as much as that was "working" for the first few years the paper profit was only ~6% a year, which is not overly exciting even if it was inflation beating at the time. We still weren't attracting many new members. Then we have had Carillion problem and other shares gradually decline in value against the run of the FTSE100/FTSE250 during the same period and are sorrily down considerably at the present, on paper. These kind of shares shouldn't bounce up and down too much, though we have seen they do, so we have either been unlucky or chosen the wrong shares in the first place.....

So, if we don't have the above expectation/restriction any longer we can look much more flexibly at how to run the club.

We have mooted the idea of a second fund in the past but there was never enough support for it, so the idea was shelved. I've liked the idea of a second fund but the impression I've had is members didn't want to risk their money sufficiently to decide in favour of it.

I have created a new proposal, which we can discuss the merits of or not, in this thread - if the poll goes the way Rich would prefer it to... :o
Thanked by: Beachboy
Chairman: iMutual's Cashback Investment Club (CIC) - contact me about joining!
Visit the Cashback Investment Club forum to find out more.

Beachboy
Posts: 1265
Joined: Tue Jun 29 2010 9:53pm
Has thanked: 1452 times
Been thanked: 1612 times
Contact:

Re: What do you want from this club?

Post by Beachboy » Tue Mar 20 2018 3:48pm

I have voted Adventurous but in truth would probably like elements of both, be it two pots in the same club or two in different clubs.

The reason I voted Adventurous was firstly because of the description attached stating 'can afford to lose funds', because whilst I don't want to lose I can afford to do that with what I have put in and am prepared to take a bit of risk of them. To be fair I really hope that everyone who is a member of the CIC can afford to lose the funds and is not reliant on them. Also I do think some of our investments have been a bit dull - I cannot for the life of me remember how we got to the point we invested in Greene King, let alone twice! However I am as guilty as anyone for letting that happen. Therefore a bit more excitement would not go a miss. That said having investment in a few solid long term established FTSE 100 would also interest me.

garindan
Posts: 980
Joined: Wed Jun 30 2010 3:20pm
Location: Midlands
Has thanked: 486 times
Been thanked: 632 times
Contact:

Re: What do you want from this club?

Post by garindan » Thu Apr 05 2018 2:29pm

So my view on this poll result is we are no nearer to making a clear cut decision on how to proceed. I think perhaps the two polls run recently have been too polarised in one or another direction, enough so that members are not in favour of moving too far in one direction.

I think there is some middle ground that I hope will enable more of a compromise, at least for an agreed period of time to see where things go. I feel we should look more towards something along the lines of what I proposed here, but with some tweaks to get as near a match to things all members want as possible.

At the moment I don't feel we are unable to get much done, as we couldn't even agree to put Greene King up for a vote to sell or keep, without complicating things, leaving us with a further 5% decline in price in the meantime. I'd like us to proceed forward sooner rather than later and I will look to putting together another proposal once I have had time to look more carefully at our holdings, members views and wait for Rich to return from his holiday!

In the meantime it would be really helpful if any further thoughts or suggestions are made by members or others so I can try and take as much into account as possible.

Thanks :thumbup:
Thanked by: blythburgh
Chairman: iMutual's Cashback Investment Club (CIC) - contact me about joining!
Visit the Cashback Investment Club forum to find out more.

kevinchess1
Posts: 23770
Joined: Mon Jun 28 2010 11:02pm
Location: Miles away from the sea
Has thanked: 12599 times
Been thanked: 17167 times
Contact:

Re: What do you want from this club?

Post by kevinchess1 » Thu Apr 05 2018 11:56pm

garindan wrote: At the moment I don't feel we are unable to get much done, as we couldn't even agree to put Greene King up for a vote to sell or keep, without complicating things, leaving us with a further 5% decline in price in the meantime.
Not sure that's right
No one posted in that thread to hold on to it
But no one posted a proposition to sell it either
So, here goes

'I propose we take a Sell or Hold vote on Greene King'

I need two members to support this proposal
Thanked by: blythburgh
Politically incorrect since 69

parchedpeas
Posts: 410
Joined: Tue Jun 29 2010 1:34pm
Has thanked: 200 times
Been thanked: 460 times
Contact:

Re: What do you want from this club?

Post by parchedpeas » Fri Apr 06 2018 3:04am

kevinchess1 wrote:
garindan wrote: At the moment I don't feel we are unable to get much done, as we couldn't even agree to put Greene King up for a vote to sell or keep, without complicating things, leaving us with a further 5% decline in price in the meantime.
Not sure that's right
No one posted in that thread to hold on to it
But no one posted a proposition to sell it either
So, here goes

'I propose we take a Sell or Hold vote on Greene King'

I need two members to support this proposal
Shares in Greene King were a 'buy' for Questor in the Sunday Telegraph, down 11% since the paper recommended at early December that they should be sold. Shares in the pub company are down as many investors think it will be dragged down by a £2.3bn gross debt pile that dates back three years to the £774m acquisition of the Spirit Pub Company, while the industry faces a consumer slowdown, rising business rates, minimum wage pressures, and commodity and utility costs.

On the other side of the coin, the City sees the group's dividend, yielding 7%, as safe and while there are a tough few years ahead, shares trading at eight times next year's earnings, makes the shares attractive. Management boasted a record Christmas in the managed pub estate, though heavy snowy weighed on the wider numbers, with the division's sales down 1.4% in the first 37 weeks of the financial year. Cost cutting amid the downturn in casual dining has seen the Fayre & Square food brand scrapped and a sale of its Loch Fyne seafood chain.
I thought we had this one as a divi stock?

We need to make our minds up what we're about before we throw out the baby with the bathwater. I've got no real confidence in the share price for GNK, but they've paid divi's out for years.

https://www.greeneking.co.uk/investor-c ... eene-king/

I'm not saying HOLD is right, by all means let's see what other think (that's a second, I suppose) but I'm not keen on flogging everything off before we've worked out what on earth we're doing.
Thanked by: blythburgh, kevinchess1

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: What do you want from this club?

Post by blythburgh » Fri Apr 06 2018 8:37am

If you want the divi I would sell Greene King and buy the Bristol and West things I suggested here: viewtopic.php?f=23&t=82273&hilit=bristol+and+west

Guaranteed money twice a year and little chance of losing much money if sold.

But not a member so up to those who are to decide what to buy and sell of course
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

Post Reply

Who is online

Users browsing this forum: No registered users and 8 guests