Your questions answered Vol 2 - IM Private Clients
Discussion
Simpo Two said:
This 'Coops' has a new account. Clearly an imposter!
Still the same crayon eating Coops Gallons Per Mile said:
Hi Steve, it's just a S&S ISA, not a pension. Do beneficiaries even need to be declared for an ISA? I'm pretty sure I did with mine, but I may be wrong!
As it's just 'savings', name your beneficiaries in your Will.
I've asked the questions and I'll come back to you ASAP.
KR
Coops
Gallons Per Mile said:
Hi Steve, it's just a S&S ISA, not a pension. Do beneficiaries even need to be declared for an ISA? I'm pretty sure I did with mine, but I may be wrong!
Hi GPMThere is no option for beneficiaries for an ISA or GIA.
A Pension is established under a trust so by using a named discretionary beneficiary the proceeds of a pension can be passed on in death with no IHT liability. This only applies to a pension.
ISA's and GIA's are held in the individuals name so form part of the estate on death and cannot have beneficiaries attached.
A surviving spouse can inherit the ISA allowance of their spouse using the Additional Permitted Subscription Allowance. (APS)
Hope this helps
Cheers
Nik
A quick note on Taiwan Semiconductor (TSM) which is not a holding within IM Portfolio's however they just released their recent quarterly results and provided guidance for the next quarter. We do hold companies who utilise their products, so it provides some insight into demand and the state of their market and prospects.
TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
5G phone chips also received a mention-demand has not fallen off which shows the 5G upgrade super cycle is still in full flow-this bodes well for Apple (TSM's biggest customer). I expect the Iphone 14(due sept 22) to be the biggest selling Iphone, ever due to the pent up demand from China lock downs.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
5G phone chips also received a mention-demand has not fallen off which shows the 5G upgrade super cycle is still in full flow-this bodes well for Apple (TSM's biggest customer). I expect the Iphone 14(due sept 22) to be the biggest selling Iphone, ever due to the pent up demand from China lock downs.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
Edited by AdamIM on Thursday 14th July 10:05
AdamIM said:
A quick note on Taiwan Semiconductor (TSM) which is not a holding within IM Portfolio's however they just released their recent quarterly results and provided guidance for the next quarter. We do hold companies who utilise their products, so it provides some insight into demand and the state of their market and prospects.
TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
isnt Taiwan in the sphere that China wants to welcomed back with gusto to their bosom in the near future?TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
superlightr said:
isnt Taiwan in the sphere that China wants to welcomed back with gusto to their bosom in the near future?
and how I pray that I get some dream before that happens and I am completely out of the market. Out of the market not into cash ...... but good that I and mine need to live and stay warm . Anyway, back to the assumptions of normal world madness as of today .
superlightr said:
AdamIM said:
A quick note on Taiwan Semiconductor (TSM) which is not a holding within IM Portfolio's however they just released their recent quarterly results and provided guidance for the next quarter. We do hold companies who utilise their products, so it provides some insight into demand and the state of their market and prospects.
TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
isnt Taiwan in the sphere that China wants to welcomed back with gusto to their bosom in the near future?TSM proved the naysayers wrong and reported an excellent quarter, beating expectations on the top and bottom lines. Guidance is for a record Q3 driven by chips for HPC and AI.
High Performance Computing (Cloud native) and AI are two material segments dominated by Nvidia (PHT)along with AWS (Amazon)(PHE) and Azure (MSFT)(PHT) as end users.
I thought it was worth mentioning that whilst the wider economy appears uncertain, there are sectors which will perform despite macro headwinds. There are very good reasons why demand remains intact and is even accelerating. Scalable cloud whether that be SAAS (software as a service), AI or HPC drives efficiency, which has never been more critical in fighting cost inflation.
1. China consume 60% of global semi production. Who will operate the facilities? It's not as simple as coming in and pushing a button. China have tried and failed to produce chips anywhere close to TSM or Samsung sophistication (at scale)
2. It has been suggested that in the unlikely event of an invasion, TSM would destroy their foundries. What then?
3. TSM manufacture classified chips for the UK/US government. They have vowed not to allow anything to compromise their tech. I would speculate that they have some contingencies.
The bottom line, if China made a bold move it would be self inflicted destruction of their own economy as they would have little to produce and even less to sell(sanctions etc). You have to remember that the CCP holds onto power by treading a fine line between totalitarianism and keeping their people happy through increased prosperity. You need growth and investment for that.
I believe the China Taiwan issue is more political posturing-a show of power to the wider populace within China and a show of strength to the West. It gives them bargaining chips.
I don't worry about nukes in the same way. If we did, we would end up living in a bunker
Intelligent Money said:
Hi GPM
There is no option for beneficiaries for an ISA or GIA.
A Pension is established under a trust so by using a named discretionary beneficiary the proceeds of a pension can be passed on in death with no IHT liability. This only applies to a pension.
ISA's and GIA's are held in the individuals name so form part of the estate on death and cannot have beneficiaries attached.
A surviving spouse can inherit the ISA allowance of their spouse using the Additional Permitted Subscription Allowance. (APS)
Hope this helps
Cheers
Nik
Hi Nik, that's great, I've let my mum know. I think I must have confused my workplace pension with my ISA when thinking about beneficiaries and my mum picked up on this, thinking that she needed to name beneficiaries for her ISA.There is no option for beneficiaries for an ISA or GIA.
A Pension is established under a trust so by using a named discretionary beneficiary the proceeds of a pension can be passed on in death with no IHT liability. This only applies to a pension.
ISA's and GIA's are held in the individuals name so form part of the estate on death and cannot have beneficiaries attached.
A surviving spouse can inherit the ISA allowance of their spouse using the Additional Permitted Subscription Allowance. (APS)
Hope this helps
Cheers
Nik
Cheers!
And in other affirmation news
'Facebook parent Meta has reportedly said it needs to increase its fleet of datacenter GPUs fivefold to help it compete against short-form video app and perennial security concern TikTok' sourced 30 June from an internet memo from Zuckerberg
Meta buy all of their processors from Nvidia. They use them for Machine Learning, a category of AI. More specifically 'recommender systems' which are trained to predict what a user is interested in.
For some context. a 5X increase in GPU's would be something like USD5B spend.
Recommender systems are becoming ubiquitous across the digital economy (it's everywhere from online shopping to search to content/media). The global market, being less than $2B annually in 2020 is growing at a cumulative growth rate of 40% and is expected to reach almost $20B annually by 2028.
Nvidia Merlin is the fastest commercially available recommender framework
'Facebook parent Meta has reportedly said it needs to increase its fleet of datacenter GPUs fivefold to help it compete against short-form video app and perennial security concern TikTok' sourced 30 June from an internet memo from Zuckerberg
Meta buy all of their processors from Nvidia. They use them for Machine Learning, a category of AI. More specifically 'recommender systems' which are trained to predict what a user is interested in.
For some context. a 5X increase in GPU's would be something like USD5B spend.
Recommender systems are becoming ubiquitous across the digital economy (it's everywhere from online shopping to search to content/media). The global market, being less than $2B annually in 2020 is growing at a cumulative growth rate of 40% and is expected to reach almost $20B annually by 2028.
Nvidia Merlin is the fastest commercially available recommender framework
United Health (UNH), a PHE holding, reported Q2 results just now and as expected they executed very well. Adjusted EPS $5.57 (beat by 0.37) on revenue of $80.3B (beat by 0.62B).
The company increased its full year net earnings outlook to $21.40 to $21.90 per share vs. $21.68 consensus, from prior outlook of $21.20-$21.70.
UNH saw double digit growth across both core divisions, Optum and United Health.
This represents the 18th consecutive quarter of earnings beats and is a testament to the quality of management who are growing their business even in times of otherwise contraction. UNH is a core holding within PH Equity, acquired in March 2022 and has performed very well, being + > 21% (including dividends).
The conference call will be later today and i'll update with anything interesting.
The company increased its full year net earnings outlook to $21.40 to $21.90 per share vs. $21.68 consensus, from prior outlook of $21.20-$21.70.
UNH saw double digit growth across both core divisions, Optum and United Health.
This represents the 18th consecutive quarter of earnings beats and is a testament to the quality of management who are growing their business even in times of otherwise contraction. UNH is a core holding within PH Equity, acquired in March 2022 and has performed very well, being + > 21% (including dividends).
The conference call will be later today and i'll update with anything interesting.
Edited by AdamIM on Friday 15th July 15:26
anonymous said:
[redacted]
Hello mateNo, it's almost like they can't get rid of me!
Sun tan is coming along nicely. Health is really recovering back to normal now, even though there are constantly people here over summer so little relaxation and recuperation is getting done.
Here is Nik, showing his most professional face...
And Coops celebrating getting his crayons back...
And me getting some family time with Mrs PH and Little Miss PH...
If anyone is coming to the Algarve over summer, just let me know (and I'll buggerr off!)
Cheers
Julian
Defcon5 said:
Vilamoura? My wife has family in Sao bras, nice part of the world.
If you have ever had any maintenance done on your boat in the marina it may well have been her uncle that did it
Then I know where I can find the git now!!! If you have ever had any maintenance done on your boat in the marina it may well have been her uncle that did it
Mind you, he had his work cut out for him after Coops and the 'accident'...
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