Tullett Prebon Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9394642
My main reason is that it seems to have gone ex growth. Voice related revenues are flat.

Bad points are reduced EPS, especially when the so called exceptionals are removed, no settlement of either of the legal disputes (see the warning at the end of the annual report), very poor profitability in the USA, and finally no diversification, unlike ICAP.

A good point is the cost cutting, but wages per head are still rising.

This is a well run, high margin, business, but it needs growth. I won't buy back in until I see how growth will come back. It needs a good new CEO. By Greyinvestor ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9394642&action=detail Wed, 07 Mar 2012 06:03:00 GMT Greyinvestor tag:iii.co.uk,2003:tst.9388993 http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9388993&action=detail Tue, 06 Mar 2012 10:05:00 GMT Brown Bull tag:iii.co.uk,2003:tst.9387750 Newspaper Briefing Broker Views
http://bit.ly/zYjUIY By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9387750&action=detail Tue, 06 Mar 2012 07:28:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9385609 5 March 2012 | 12:45pm
Singer Capital Markets initiates buy on Tullett Prebon, target price 410p.
http://bit.ly/y4nsma By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9385609&action=detail Mon, 05 Mar 2012 15:22:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9261578 TOBY GREEN WEDNESDAY 08 FEBRUARY 2012
http://ind.pn/xU5L81 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9261578&action=detail Wed, 08 Feb 2012 06:06:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9236691 Investors heartened by PMI figures from across the globe, but eurozone crisis still hovers in background
Posted by
Nick Fletcher
Wednesday 1 February
http://bit.ly/A3xSBx By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9236691&action=detail Wed, 01 Feb 2012 18:20:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9209869 January 25, 2012, 3:12 PM EST
http://buswk.co/y2cXyd By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9209869&action=detail Wed, 25 Jan 2012 21:21:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9203202 The top seven stocks for 2012
Farah Khalique
24 Jan 2012
http://bit.ly/yeeoh3 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9203202&action=detail Tue, 24 Jan 2012 14:26:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9137933 09 January 2012
Tullett Prebon has had a mixed time, and it won't get any easier anytime soon
http://bit.ly/zdKOCp By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9137933&action=detail Mon, 09 Jan 2012 17:29:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9128652
There was a write up on TLPR in The Times today, but it didn't mention this issue. However the writer seemed to have similar views to mine. By Greyinvestor ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9128652&action=detail Fri, 06 Jan 2012 14:38:00 GMT Greyinvestor tag:iii.co.uk,2003:tst.9127572 http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9127572&action=detail Fri, 06 Jan 2012 11:31:00 GMT onethreefive seven tag:iii.co.uk,2003:tst.9124610
If the outcome of arbitration is OK, the results should come in a little below expectations, but not drastically so. But if the outcome is negative, the results could be a good bit below expectations. I suspect that a negative outcome is possible, and this would hit the short term results.

I remain a serious 'holder', but I do believe that the legal costs incurred by TLPR are on the high side. By Greyinvestor ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9124610&action=detail Thu, 05 Jan 2012 16:01:00 GMT Greyinvestor tag:iii.co.uk,2003:tst.9102602
The word on the street is that all the IDBs are suffering because of lower trading volumes, and that TLPR is watching every penny. Nevertheless I believe that at this price TLPR is good value, and will top up again if the market dips after the new year.

The litigation is still a big fly in the ointment, but I'm sure that the ever pugilistic Terry Smith will keep punching until the end. I'm a fan; you need to be tough in the IDB market....

My best guess is that it is going to be incredibly tough for anyone in securities trading of any type, because shrinking investment banks mean less business. But it may also be a good time to buy up weaker players. By Greyinvestor ]]> http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9102602&action=detail Sat, 24 Dec 2011 10:52:00 GMT Greyinvestor tag:iii.co.uk,2003:tst.9046951 http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9046951&action=detail Thu, 08 Dec 2011 15:46:00 GMT onethreefive seven tag:iii.co.uk,2003:tst.9045677 http://www.iii.co.uk/investment/detail?code=cotn:TLPR.L&display=discussion&id=9045677&action=detail Thu, 08 Dec 2011 11:58:00 GMT Brown Bull