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Thoughts on the recent announcements from Carnival plc and BT Group

Tom was absolutely correct in yesterday’s Bearcast to observe that the news late Wednesday/early Thursday that Carnival plc (CCL) “has priced its previously announced underwritten public offering of 102,139,621 shares of common stock of the Company at a public offering price of $9.95 per share”, was not the greatest. Somehow the shares are still up in July…but we will not mention the year-to-date or last three-year performance.

EPIC CCL
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They may have risen, but Carnival shares are still down 50% YTD!

How is your portfolio year-to-date?  It has not been the easiest six months, but I've seen worse. Carnival plc (CCL) - my smallest personal portfolio holding at, fortunately, way below 1% - has also been my most disastrous.  Perhaps, one day I will make it onto a cruise ship, but as a shareholding, I remain at a material loss.  What did it say in the quarterlies, and what shall I do about my small position?

EPIC CCL
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The wild post COVID-19 world of Kingfisher and Carnival

It is probably a good thing that I don’t own any shares in Kingfisher (KGF). I certainly have in the past but - as I noted back in November - “Kingfisher is in a much better position than a few years back, but you don’t need to aggressively buy back in…But I am not ignoring it either…Screwfix spin-off before 2025?”. Back then the share price was above 320p and now it is below 280p.

EPIC CCL
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Changes evolving at Carnival and Currys

As if we did not know it, the investment world is clearly evolving. Whilst the Bank of England flirted with an even bigger than expected interest rate rise than what was expected, the big surprise came from the boring old European Central Bank. I know it did not change its multi-year turning Japanese negative interest rate policy, but even it admitted it might too raise interest rates by the end of this year. Essentially for the hundredth time this year, every investor is being told it is not as easy a world as global markets have seen since the 2009 mega international bailouts. Pick your stocks carefully…which brings me onto my current most unsuccessful share Carnival Cruise Line (CCL)...

EPIC CCL
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It could Soon Be Carnival Time again as the Cruise Ship Line Steers Back on Course

Hello Share Swallowers. You wouldn't catch me on a pleasure cruise. Too many people. However, there’s no doubting their popularity. And if it wasn't for the virus getting an early cruise ship footing, they would be even more popular. But the plague could soon be on the way out. And then that big cruise operation Carnival (CCL) should be steaming ahead again.

EPIC CCL
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Me and Carnival plc (‘Do I feel lucky? Well, do ya, punk?’)

It has been a funny last 13 months, but fortunately the financial markets have been the last of my challenges. Obviously I am still not the next Peter Lynch, but I keep on learning (something) even if it was a quarter of a century ago now that I first rocked up in the City. And whilst I could ramble on at length about a few winners this year, one of the more dull stocks has been Carnival (CCL) which I am currently up on 0.25% year-to-date.

EPIC CCL
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Madness and excitement at Carnival Cruises

As I noted last month here, I do own some shares in Carnival Corporation (CCL) on the basis that (1) I was too optimistic in early 2020 thinking about Covid-19 only being focused on China but; (2) I did double up my holding a couple of months later on the basis that the owner of the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises, Seabourn, Costa Cruises, AIDA Cruises and Cunard was going to be loved by a growing number of (rich and ageing) holidaymakers around the world.  Obviously I would not ever go myself...but as discussed about multiple other sectors and stocks, this has never been a reason for me not to invest (after all, inherently I am personally unbelievably boring in any case).  

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