Thanks for the Livermore reference, I found it and reading it now. Just the second chapter alone makes me realize that I've been trading just to trade and not exercising patience to wait for the right trade.
Hi Allerion, thanks for your comments. Certainly I’m neither an expert on capital mkts. nor a novice, but for sure your views are broader and deeper. This bank used to be a conservative and reliable bank but now with this BOD and GB&Co. mmmm. Sometimes I ask myself why not to accept all losses on lyg and change to a new stuff that “could be” also undervalued like c, bac, wfc or….By the way, I’ve downloaded “Reminiscences of a Stock Operator” and starting to read. Glty. Celeste.
Nope IMO, for now a 4.69% dilution to the actual float.
Actual float 63,774.51 millions (63,77 billions) Add 3.14 billions shares, new float 66,91 billion.
Note: this came from the last RI with 2 proposals to raise 21 billion sterling pounds. 1. Equity rising of 13.5 billion with the well know RI. and 2. Exchange offers for 7.5 billion, that convert various debt instruments (bonds) into ECN (Enhanced Capital Notes). Under certain circumstances this ECN will convert into Ordinary shares.
Well, here is the first 1.5 billion of 7.5, remains 6 billion that could be converted into ordinary shares.