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underdog wrote:So what would happen if we had a "flash crash" like in the US and we had set a loss and the share auto-sold only to recover within minutes?
http://www.theguardian.com/business/201 ... on-hearing
Agree entirelyWilliam Joseph wrote:No I do not understand. No point in having a profit and loss position if you then vote to ignore it. A poll takes a minimum of one week to conclude. The whole idea of deciding in advance is to speed things up and avoid the need for a vote.
The "royal we" in this case were the majority of members because of the factors set outkevinchess1 wrote:But then we(the royal we) decided to ignore it
This is the gamble with shares though and you could be absolutely correct. Whilst you may not see anything others have expressed they do see possibilities. It may drop again and it may not. It may sit on a level for a while. We don't know though and will not know who is "right" until the scenario plays out.kevinchess1 wrote:it's ALL right posters saying 'yeah but it's made it all back.' But I see nothing to convince me it will carry on gaining and it might easily drop again and never recover
Indeed this is could be true but we could say that about most of our shares but picking these other shares is not easy. There have been no solid recommendations made as to an alternative. The point it that Sainsbury is currently our second best share, according to statistics, and we keep picking on it rather than looking at the bigger picture. Both GSK and UU have been 12% down at points but there were no such calls to sell these and we are actually down overall, after dividends with both. Sainsbury was only down around the 20% mark for a few days maximum, the rest of the time it has been around the 12% down mark fluctuating up and down some percentage points either side but overall is actually UP at the moment.kevinchess1 wrote:Also if we had sold we might well have put our money into a far more profitable share and actually be a lot better of
I largely agree with this and was planning on posting similar myself. A few comments/observations that are related to this include:garindan wrote:I completely respect your views Kevin but you are painting a rather distorted picture of this
The "royal we" in this case were the majority of members because of the factors set outkevinchess1 wrote:But then we(the royal we) decided to ignore it
This is the gamble with shares though and you could be absolutely correct. Whilst you may not see anything others have expressed they do see possibilities. It may drop again and it may not. It may sit on a level for a while. We don't know though and will not know who is "right" until the scenario plays out.kevinchess1 wrote:it's ALL right posters saying 'yeah but it's made it all back.' But I see nothing to convince me it will carry on gaining and it might easily drop again and never recover
Indeed this is could be true but we could say that about most of our shares but picking these other shares is not easy. There have been no solid recommendations made as to an alternative. The point it that Sainsbury is currently our second best share, according to statistics, and we keep picking on it rather than looking at the bigger picture. Both GSK and UU have been 12% down at points but there were no such calls to sell these and we are actually down overall, after dividends with both. Sainsbury was only down around the 20% mark for a few days maximum, the rest of the time it has been around the 12% down mark fluctuating up and down some percentage points either side but overall is actually UP at the moment.kevinchess1 wrote:Also if we had sold we might well have put our money into a far more profitable share and actually be a lot better of
As chairman I do need to make decisions and they are not always going to be to the liking of all members. I understand this. What you should also consider, if you think I am being bias with things here, are the following facts:
- a number of members supported putting to a poll the temporary removal of the stop/sell so that's what we did
- no members supported putting in place my suggested -2% selling of Sainsbury shares more recently so no poll
- no members supported putting in place your suggested immediate selling of Sainsbury shares, again more recently, so no poll
As a club we need to be constantly re-assessing our plans for each share as the environment changes. What we decide now might need re-assessing in a week, few months or a year down the line. The thing is we need to be flexible and proactive to react.
I chopped the rest of the above - but a well formulated reply - thanksBeachboy wrote:* garindan one thing you highlighted that particularly stuck out for me was the comment regarding members not supporting certain recommendations, which raised a really important issue for me. I think there might be a need to somehow distinguish between what are general comments/discussion and firm recommendations (or other areas that require action or decisons etc), because despite reading the all CIC forum posts with interest I did not realise that there was a firm recommendation that required me to take any action. If I had understood that to be the case I would have definitely supported at least putting the selling of Sainsbury’s to a vote.
He did not even need that. He was the only candidate. A surplus job in my opinion at this stage of our existence.kevinchess1 wrote:Why 2 seconders? Underdog nomination for secretary only got 1.
I think it is always a good idea to have at least two other supporters, otherwise it is a case of "me and him" think this is a good idea so let's have a vote. That could meant we'll have more votes proposed than needed.kevinchess1 wrote:Why 2 seconders? Underdog nomination for secretary only got 1.
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