Rinse?
PS Legal and general have a beta of 1.5 over last 5 years.
Which means if the market goes up 10% it goes 15% and vice versa. I bought some in 2018 (at a small loss excluding dividends). I just donāt see it. The sudden increase to 310 (last 12 months) and 320p mid 2019 seem random as does the following fall back (probably profit taking)
Anyway it is definitely in tha value sector so share price should be higherā¦ should be.
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I sold my legal and general for 69% gain bought back next day 15p cheaper. IE sell day before ex dividend buy back on e dividend day.
I set a greedy sell price and set greedy buy back price. BUT i was with Hargreaves Lansdown and still am at the moment. Shifting my general account and isa to freetrade. My sipp is in drawdown so canāt move it annoying. Either way the gain was not that good due to fees.
Advantages the gain comes under capital gains not income tax.
I didnāt buy back the same amount of shares (keeping the difference as a dividends) Instead i bought 4% more shares. I was shifting some of the shares into my isa but not all so ended paying 3 stock broker fees.
No stockbroker fees will make it worth selling my smaller holdings into my isa. Sweet!
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You wouldnāt be able to move any funds to Freetrade (because Freetrade donāt do OEICS etc). Your share fee (in sipp) per annum is capped at Ā£200 and in ISA Ā£45. Other broker fees that you would have incurred would have been buy/sell and if your gain was poor it would imply your holding is very small. All other fees i.e. stamp duty/merger panels levy would also have to be paid with FT.
I love buying L&G on its dips. Iāve bought & sold before (My Bad). Its now in my SIPP & i buy when low & hold.
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I made the same mistake selling all of my National Grid shares for what I thought was a good profit and they then went up by about 20% more! Thankfully price is now so Iāve been able to buy without losing though.
Lesson learned, I only sell batches of shares at a time if the price looks good for any stock now. British American Tobacco was over Ā£36 last week so I sold some but not all.
For those may not have read this
" The UK government has launched a consultation on its plans to radically overhaul the rules governing insurance companies.
HM Treasury is proposing changing the European Unionās Solvency II, which governs the prudential regulation of insurance firms in the UK, as part of its post-Brexit reforms.
In particular, it wants a āsubstantialā reduction in the risk margin for long-term life insurers, thereby releasing capital on insurersā balance sheets, and for firms to have more flexibility to invest in long-term illiquid assets, such as green infrastructure including offshore wind farms.
It is also proposing a āmeaningfulā reduction in the current reporting and administration requirements, and a more sensitive treatment of credit risk in the matching adjustment. The matching adjustment enables insurers to issue long-term life insurance products by matching them against assets with similar characteristics.
John Glen, economic secretary to the Treasury, said: āOur reforms will unlock tens of billions of pounds of investment in the UK economy, spur innovation in the market while protecting policy holders, and will cement the UKās position as a global hub for financial services.ā
The consultation, which will run for 12 weeks, is due to close on 21 July. The Prudential Regulation Authority will publish its own technical consultation later in the year, the government confirmed."
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Iām not sure what I think about this. Feels a bit like it could encourage more reckless behaviour from insurance companies which Iām not all that comfortable about. I guess it comes down to what they define as āsubstantialā & āmeaningfulā.
I do think there are some good points in there as well though.
What are your thoughts on this?
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It does make me think along those lines of rules and regulations possibly heading in a lax direction again. You would like to think lessons were learnt from the past but I should imagine greed has a short memory!
LGEN and PHNX are two core holdings for me so if this comes to fruition it would be beneficial but hopefully it isnāt a double edged sword for the long term.
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My gain was greater than legal and generals dividend. I meant compared to the dividend i made more money selling and buying back and it was a capital gain not a taxable income gain.
My last months fees in Hargreaves Lansdown sipp was Ā£9.83.
I am running it down and moving money into isa. Hargreaves Lansdown isa is .45% upto Ā£45 for shares and exchange trade funds. I donāt own the latter.
For open ended companies it is .45% upto Ā£200,000. Again i donāt own open ended companies. Never have.
I dont have any oeic, why did you say i have?
Shifting to freetrade plus. My gain was greater than the dividend. i meant compared to the dividend.
I didnāt say you did. But I see my sentence is ambiguous and should have used āoneā rather than āyouā.
I made no mistake i sold the day before the dividend and used all the money to buy back all the share plus 4% on exdivided day.
As I think I wrote! Legal and general have a beta of 1.5 over 5 years, which means if the market (I assume just 100 share index) falls 10% then legal and general share price should fall 15%. AND vice versa.
So anyone think of buying now should in theory call the market?
Good look with that!
As there is no stock broker fees on freetrade you couldnāt ask for a better way of buying now and continuing to buy in small increments right through the cycle. As long as you are happy with L&G prospects.
As we have no Idea where the bottom is so go for it.
I bought at 166 and have more than enough L&G I will not be buying more.
I have not made my mind up mainly because I have no idea what the effects would be. I was hoping L&G would give there opinion. The basics are they will have less money doing nothing, less money drag to be precise. That will lead to higher profits in the good times. Its the bad times that might be worrying, i emphasis might.
The government wants them to invest more money in the economy. What are the risks associated with social housing?. Affordable rents are meant to be 20% below the local market. This invariably leads to lower voids so not necessarily 20% less income. Plus the council canāt refuse to pay the rent by saying its to high. Infrastructure is not without some risk. I note the share price did not rise on the news but sometime before they actually finish the review.
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Generally speaking the difference between the highest intra day sell price the day before exdivided and the intra day exdivided day buy price is significantly higher than the dividend. Note intra day price. One share i owned had 47p difference between the two but finished 4p below the previous days finish. The dividend was 18p.
If you own legal and general you need to read this:-
"(Sharecast News) - Legal & General said on Thursday that it has had a good start to 2022, that its operating performance has been in line with expectations and that it expects to deliver double-digit growth in cash and capital generation for the first half.
The company estimated that its solvency coverage ratio as at the end of June was around 215%, up at least 25 percentage points on the year, mainly due to higher interest rates and strong ongoing operational surplus generation, and after paying the 2021 final dividend.
L&G said group cash flows remain strong and return on equity is consistent with its historic performance of around 20%.
Chief executive Sir Nigel Wilson said: "Our year-to-date operating performance is in line with expectations, with cash and capital generation running slightly ahead of our five-year ambition and return on equity at circa 20%.
āThis reflects the strong execution of our stated strategy - which is closely aligned to long-term structural growth drivers such as ageing demographics, investing in the real economy, and addressing climate change - both in the UK and, more recently, in the US.ā
Wilson said L&Gās overall exposure to inflation is minimal and the balance sheet is strong. āThe recent increase in solvency provides further security and optionality,ā he said.
āWe remain confident in Legal & Generalās ability to grow profits sustainably and at attractive returns over the long-term.ā
25 percentage increase in Solvency 2.
Inflation wil have little or no affect on profits. A mere 4% increase in share price. Despite having more than enough i am buying more.
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So in Lehman terms? 
This is good or bad as not great with jargon 
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I read this as good. Despite a positive half-year, share prices havenāt increased as much as they could have due to interest rates and the market being slow.
So I am taking this as āgrab some more for cheap because if things continue as they are and the market lifts, youāll see good returns on divās and sale pricesā
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