George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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sold 500 @354
£2-3 zone v tempting
poor and now quick succession: Italy ref plus austrian plus french plus dutch plus german elections ..pol risk higher than any time since 1941
haps
pole
.
nowhere
@446...470/480 in old money (given 40p+ div).. hold 2000 free carry; tp £5+
given 80% of product exported
but no longer so enthusiastic ahead of referendum and with better bargains elsewhere ..back to 1000 free carry
and with euro strengthening, I expect £5 to be comfortably scaled...in time lol
Truck recovery boosts Castings 13 November 2015 http://www.investorschronicle.co.uk/shares/news-and-analysis/e80b9754-89f0-11e5-9f8c-a8d619fa707c Recovering European truck sales and value-added services made up for the losses incurred as a result of cheaper steel
great stock ...thank The Infinite Nothing for solid stocks like this and DWHA...in a miasma of madness.... with chinese horrors, gbo and plenty more in the cesspit ...Just good
.
Sounds good, well done. US auto sales exceeding expectations, which is promising. Reluctant to add currently due to wider wobbles however.
Hey Rhaegar, Good to hear from you. Yeah good thinking re: diversification. I need more of it in my portfolio IMO. I have enough small caps and tiddlers, and now I feel I need some FTSE 250 / FTSE 100 stocks ...but haven't yet taken a fancy to anything. Think I'd like the dust to settle a bit before I invest elsewhere, but the Lloyd's of London insurance companies such as BEZ are high up the list. RSA is potentially a contender too, now that Zurich has changed their mind about taking them over. Ah you're the same as me from the sounds of it. My portfolio consists mostly of holdings so small I can't trade in and out like Jolly does. Things are going excellent, thanks. I'm in the midst of a career move from being a retail (client-facing) insurance broker to a wholesale insurance broker, where I shall be involved in the placing of risks into Lloyd’s / the London Market – and that’s not an easy move to make. Furthermore the money is good, partially because I negotiated with them for a higher salary than they originally offered me. Little did they know I would have accepted the first offer but I felt I had to ask for more after giving them my spiel about what a good negotiator I am!! I had forgotten about GAH but yes I’m delighted to see that their share price has fallen 80%+. And my dad will be too, when I tell him! VBR, Libero
diversification, autocorrect again
Nice work on the calculations. It's a diversity holding for me - an asset backed play on EU manufacturing and UK/EU industry more generally. Not super cheap, but hopefully a margin of safety limiting the downside. It's only about 10% of my portfolio, which is a small amount in real terms. If/when I have bigger holdings I might trade in and out more like Grandmaster J Hope all good in insurance, life etc. I'm sure you and your dad are happy with GAH'S demise!
for insurance
can
not that you could tell from trades lol
endless changing of bid/off disguising flat line
showing some legs
the ebit yield is good but not the best around.... ...it is exposed to some nasty downside if the eurozone (essentially Germany) goes T*ts up, but I am happy running that risk for the ok but not sensational yield ...and happier still to buy more as long as the sp doesn't surge (or plunge cos of terrible news) ...steady as she goes (fingers crossed)
Jolly and Rhaegar, Good to see you both. I’ve enjoyed both of your posts and have spent some time looking into CGS, which I know has been a LT favourite of yours Jolly. Basically it looks as though things are recovering nicely from the wobble announced in August 2014. The management say as such, and broker forecasts are for 37-38p, Jolly expects EBIT to rise to £20m / 36p EPS ish. However I feel as though I need to work out how much European exposure they have (I’m thinking of how much they might be affected by changes in the GBP/EUR exchange rate) before I can come to proper conclusion. I feel the need to check because it’s the sort of thing I can imagine brokers forgetting to factor in etc and – MORE IMPORTANTLY – the recent AGM statement avoided making any comparisons to last year. This makes me wonder whether a lot of the gains that have been made in terms of the recovery will be partially undone/countered by the strengthening pound against the euro. Having said all of that, I feel as though the lowest the EPS for 2015/16 year will be circa 34p. And – due to the sheer quality of the balance sheet – I think this business ought to be rated at a PER of 14 (despite being mature etc). This would give us a low target of 476p. Using brokers’ targets as high as 38p EPS that would give us a target of 530p on the upper end of the scale. However Jolly is right in saying that if this was a FTSE 350/250 company you could expect a higher rating than the upper target I’ve mentioned, and 600p would seem plausible. Additionally Paul Scott reckons there’s a £60m surplus net value on the balance sheet, equating to 138p a share. However he then brought this back a bit by saying that this cannot be fully factored in unless the mgmt use the money to make one or two acquistions. He feels like an acquisition or two would really unlock the value in this share, but feels as though the management are perhaps too cautious. (he also feels the constant cautiousness of the management, whilst making them admirably honest, could be suppressing the share price somewhat). Therefore, despite my reservations on the exchange rate thing, I think the short term worst case scenario is a ~15% rise, and the short term best case scenario is 26% rise. Whilst the long-er term best scenario is something more like a 40% gain, if not more. TLDR: 420p is a really good price to buy in, so I might be joining you shortly. VBR Dan