Please show me where you think I claimed that they were.
I will then show you where you said that they could not be variable returns.
Please show me where you think I claimed that they were.
I will then show you where you said that they could not be variable returns.
In what way - did they perhaps breach the Ts&Cs of the agreements?
Did they do something not covered in the small print?
Were they mis-sold?
I realised that you did not know what you were talking about and wanted to help in your education.
Indeed they should
Well perhaps to save us all reading it - what do you think they did that was "unfair" or "illegal"?
I am sorry to put it bluntly: you took a financial gamble - and the gamble failed.
Is that reasonable?
Yes - but is it not true that some PIBS are sold as fixed interest rate - and some are sold as variable interest rate (without the current trade value entering in to things)
Preference shares are always fixed dividend, not 100% sure about PIBs.
You said: "Holders receive variable dividends linked to the profits of the bank. "
I then said: "I don't know the details of the Co-op bonds, but I doubt that the dividends are variable in that way. However, they can probably be stopped if the bank is doing badly - that's the whole point for the bank of issuing these instruments. "
You then got all huffy and threw your toys out of the pram. :)
Of course, on your main point, you are right. PIBS are a risky investment, and investors shouldn't complain if they lose out.
I still have about 15% of my capital left :-) That is more that I can say about shares I bought in a couple of other companies. With one of them ROK new business was coming in and the bullish directors were buying shares and pushing the price up after the departure of the financial director. My investment lasted all of three weeks.
Good man - interesting.
Cheers.
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