Rate my SIPP - ITV high conviction

Cobbler_tone

vacheron said:

MallyGirl said:

artyboy said:

Well I'm normally quite diversified, but I did find myself having about £400k in the single stock of my now ex-employer at one point. Made a very good turn on it. Could have made an even better one if I'd held it until today.

And of course could have lost a fortune if I held it until next week. Maybe. Who knows.

That's sort of the point...

many of my colleagues hold on to all the SAYE shares they have bought over the years. Now that CGT is so low a threshold it is going to cost them a lot to liquidate. The eggs in one basket phrase means I sell as soon as the options mature

I'll second myself as someone guilty of this. 

My last scheme in 2015-2020 upon maturity could have been fully sold 2 days spanning the financial year. Now with the CGT reduction and further gains in the price, it will take me and my wife almost 15 years between us to fully extract the gains using our current full CGT allowances! 

I always read and hear about CGT at my own place. The advice needs to be check your scheme rules and implication of current and future CGT liabilities. The amount of our people who think they have to pay it but don't....in a nutshell, offload them when you leave at the latest.

penners324

Juno_Moneta said:

The main thing that attracts me to ITV is that they have a ‘hidden’ asset “ITV Studios” which is generally thought to have a value on its own of around £3bn and is on the brink of being carved up (eg article today below). 

However the value (market cap) of the entire ITV Group (which owns it) is just £2.9bn currently. So by hidden I mean ‘value not recognised’. 

It reminds me of Wall Street asset stripping!

Well I think it’s worth a punt. Watch this space. 

https://www.broadcastnow.co.uk/broadcast-international/potential-itvs-deal-supported-by-investors-report/5201770.article

For balance - there are plenty of reasons NOT to invest in ITV - eg some think ITV Studios isn’t worth that much. 

And with this position size, £30k up days are as common as £30k down days - so a strong stomach is needed. No share is up, up, up every day.

States on the article the share price has gone from 277p to 77p in 10 years.

If it carries on that trend....

FIREDreamer

penners324 said:

Juno_Moneta said:

The main thing that attracts me to ITV is that they have a ‘hidden’ asset “ITV Studios” which is generally thought to have a value on its own of around £3bn and is on the brink of being carved up (eg article today below). 

However the value (market cap) of the entire ITV Group (which owns it) is just £2.9bn currently. So by hidden I mean ‘value not recognised’. 

It reminds me of Wall Street asset stripping!

Well I think it’s worth a punt. Watch this space. 

https://www.broadcastnow.co.uk/broadcast-international/potential-itvs-deal-supported-by-investors-report/5201770.article

For balance - there are plenty of reasons NOT to invest in ITV - eg some think ITV Studios isn’t worth that much. 

And with this position size, £30k up days are as common as £30k down days - so a strong stomach is needed. No share is up, up, up every day.

States on the article the share price has gone from 277p to 77p in 10 years.

If it carries on that trend....

You notice the difference in Corrie. Hardly anyone in the Rovers now as cast is paid per episode (and are complaining or leaving). The scripts and plots defy credulity. Look at a few years ago and it was packed. In real life, pub footfall hasn’t reduced that much. Emmerdale probably the same but I don’t watch that. The Queen Vic in Eastenders is full probably thanks to taxpayers’ money. ITV doesn’t look on the up to me which is a shame. Dead cat bounce maybe.

Cobbler_tone

FIREDreamer said:

penners324 said:

Juno_Moneta said:

The main thing that attracts me to ITV is that they have a ‘hidden’ asset “ITV Studios” which is generally thought to have a value on its own of around £3bn and is on the brink of being carved up (eg article today below). 

However the value (market cap) of the entire ITV Group (which owns it) is just £2.9bn currently. So by hidden I mean ‘value not recognised’. 

It reminds me of Wall Street asset stripping!

Well I think it’s worth a punt. Watch this space. 

https://www.broadcastnow.co.uk/broadcast-international/potential-itvs-deal-supported-by-investors-report/5201770.article

For balance - there are plenty of reasons NOT to invest in ITV - eg some think ITV Studios isn’t worth that much. 

And with this position size, £30k up days are as common as £30k down days - so a strong stomach is needed. No share is up, up, up every day.

States on the article the share price has gone from 277p to 77p in 10 years.

If it carries on that trend....

You notice the difference in Corrie. 

I wouldn't be placing £800k based on what is going on in the Corrie landscape. 

bjorn_toby_wilde

Cobbler_tone said:

FIREDreamer said:

penners324 said:

Juno_Moneta said:

The main thing that attracts me to ITV is that they have a ‘hidden’ asset “ITV Studios” which is generally thought to have a value on its own of around £3bn and is on the brink of being carved up (eg article today below). 

However the value (market cap) of the entire ITV Group (which owns it) is just £2.9bn currently. So by hidden I mean ‘value not recognised’. 

It reminds me of Wall Street asset stripping!

Well I think it’s worth a punt. Watch this space. 

https://www.broadcastnow.co.uk/broadcast-international/potential-itvs-deal-supported-by-investors-report/5201770.article

For balance - there are plenty of reasons NOT to invest in ITV - eg some think ITV Studios isn’t worth that much. 

And with this position size, £30k up days are as common as £30k down days - so a strong stomach is needed. No share is up, up, up every day.

States on the article the share price has gone from 277p to 77p in 10 years.

If it carries on that trend....

You notice the difference in Corrie. 

I wouldn't be placing £800k based on what is going on in the Corrie landscape. 

It’s an interesting secondary indicator of performance. Not sure how somebody like Morningstar would add it to a fact sheet though

FIREDreamer

Cobbler_tone said:

FIREDreamer said:

penners324 said:

Juno_Moneta said:

The main thing that attracts me to ITV is that they have a ‘hidden’ asset “ITV Studios” which is generally thought to have a value on its own of around £3bn and is on the brink of being carved up (eg article today below). 

However the value (market cap) of the entire ITV Group (which owns it) is just £2.9bn currently. So by hidden I mean ‘value not recognised’. 

It reminds me of Wall Street asset stripping!

Well I think it’s worth a punt. Watch this space. 

https://www.broadcastnow.co.uk/broadcast-international/potential-itvs-deal-supported-by-investors-report/5201770.article

For balance - there are plenty of reasons NOT to invest in ITV - eg some think ITV Studios isn’t worth that much. 

And with this position size, £30k up days are as common as £30k down days - so a strong stomach is needed. No share is up, up, up every day.

States on the article the share price has gone from 277p to 77p in 10 years.

If it carries on that trend....

You notice the difference in Corrie. 

I wouldn't be placing £800k based on what is going on in the Corrie landscape. 

It’s just one small piece of the jigsaw. Corrie was a flagship product, now look at it. Then you need to ask yourself what’s going on. It doesn’t look good.

westv

I miss the old regional TV structure. 

FIREDreamer

westv said:

I miss the old regional TV structure. 

ATV had the best ident …

https://www.youtube.com/watch?v=4xnempJ_XqA

Sarahspangles

westv said:

I miss the old regional TV structure. 

I’m familiar with the ITV Leeds building as it’s a couple of doors down from Kirkstall Brewery (good pizza). I’m not sure how much of an asset the ITV building would be. There’s a housing site across the road that seems to be taking forever to get going and plenty of vacant office and retail space due to the Covid shift to home working and home delivery. Emmerdale village might be interesting! 

MeteredOut

Cobbler_tone said:

vacheron said:

MallyGirl said:

artyboy said:

Well I'm normally quite diversified, but I did find myself having about £400k in the single stock of my now ex-employer at one point. Made a very good turn on it. Could have made an even better one if I'd held it until today.

And of course could have lost a fortune if I held it until next week. Maybe. Who knows.

That's sort of the point...

many of my colleagues hold on to all the SAYE shares they have bought over the years. Now that CGT is so low a threshold it is going to cost them a lot to liquidate. The eggs in one basket phrase means I sell as soon as the options mature

I'll second myself as someone guilty of this. 

My last scheme in 2015-2020 upon maturity could have been fully sold 2 days spanning the financial year. Now with the CGT reduction and further gains in the price, it will take me and my wife almost 15 years between us to fully extract the gains using our current full CGT allowances! 

I always read and hear about CGT at my own place. The advice needs to be check your scheme rules and implication of current and future CGT liabilities. The amount of our people who think they have to pay it but don't....in a nutshell, offload them when you leave at the latest.

In my experience, if tax is not due on sale, it will have been "paid" on award/vesting.

I've been in employee share schemes where you were awarded (or had vested) shares, and a % of them were sold at vest/award to cover the tax element, with the remainder going into a employee share account. The value of those sold for tax was then included in the annual P60 for trueing up.