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OliG, thanks; all agreed. It is my understanding that current discount situation is an aberration which will disappear in the short term (in a few months). I too have topped up several times under similar circumstances. Let's hope the IT performance picks up too?
This discount to NAV happens to IT's and in particular to ATT. The market is often imperfect in the short term and this presents opportunities. In the last 18 months I have bought AAT several times when there has been a substantial discount and then sold when it has closed. The discount generally appears when there has been a drop in the nasdaq. Now is a great time to buy and I have added more to my position. I suspect within the next 3 - 6 months the discount will have narrowed to less than 1%. I'm in no rush as over the long run this IT does very well.
At yesterday's NAV of 287.43p the current buying price of 270p is a discount of more than 6%. A discount of this order of magnitude has persisted for a month now. What is going on here? As pointed out by tony_currie on May 10, this is very unusual for this IT. The 12 month average discount is close to zero (0.17%).
Difficult to work out the nav my guess it's nearer 10% I was in at the top and it lost 20% in a short period of time
With the 10:1 split complete the new asset value is 288p - current share price is 266p so looking at over 5% discount on NAV. This is a real rarity for this trust.
LSE still haven't adjusted HGT's share price since May 2019 after a 10:1 split so not much hope for ATT.
My account looks f#@#@
Agreed, ******** hopeless service
ii is showing me as 100% down! Useless
A J Bell haven't updated investors holdings either! it's not like they don't get plenty of notice - pretty poor show really.
Given that these share splits happen all the time, you'd think LSE would have developed their software to cope.
The share split in the ratio 10 : 1 is effective today
I notice that the gap between the NAV and the Trust appears to be widening. At the beginning of January, at the point when the shares were at an all time high, they were at a premium to the NAV before falling back considerably to a very wide discount at the beginning of March.
According to the latest RNS, the NAV is 3059 which is slightly higher than is typical for this trust. The correction is either for the NAV to fall or the share price for the trust will rise. I am assuming the latter.
Sadly, there is no “rule” for when the best time to buy occurs. We can, though, look at a mix of fundamentals and technicals to mitigate risk, ali1947fish. FWIW, I began to drip money back into ATT on Thursday.
Taking fundamentals first. ATT is an investment trust and is permitted to use gearing to borrow against assets. Assets of publicly quoted companies are known and have valuation and thus under pin the valuation for the trust, the NAV. When the NAV is greater than the valuation for the trust it is said to be trading at a discount. This might reflect the poor management or that the trust is out of favour. When the valuation of the trust is greater than the assets within, it trades at a premium. Again likely to reflct the ability of the management to grow the trust or the sectors that are held.
Where there is a larger discount or smaller premium than is usual, that is a good signal from the fundamental perspective. From the technical perspective, and not one that I use very often, it is simply that behaviours are repeated. If it looks looks as if there is a sine wave pattern, then draw imaginary parallel lines and it provides broad entry and exit points. Similarly, if the SP seems to be is a general trend up or down, there is no reason why you should not make money by combining it with another holding that has a mirror of the same pattern. So technicals help in timing your entry or exit.
Lastly, of course, there are the intangible aspects to owning shares as an investor. Market sentiment, geo political stability, holiday times, fine weather, all have a bearing on prices and dy to day moods. We can use this to advantage, announcement of the first viable vaccine was a good example when it lifted World sentiment. We know there is a shortage of computer chips, we know that data theft brings media frenzy and we know that computing hardware gets old very quickly whereas machine learning and artificial intelligence is just starting its ascendency.
In short, I don’t know if it was a great time to sell when I did at the time and I am not sure that now is the right time to begin to add now. But profits can only be taken when a holding is sold. I declared when the bulk of my holding was sold and the price continued to rise. There was something left for that buyer of my shares.
The mantra of “time in the market is better than trying to time the market” works for me.
majority buys on the 26march here but no one commenting-the sp has fallen quite a lot- when is it time to add? from anyone with insight
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Just had a notification of an All Time High. What is that all about?? I got stopped out of this today. Infact I have been stopped out of three shares today. Absolute nightmare.
CME is listed on the NASDAQ. It is a derivatives exchange.
SONG is an investment trust recurring revenues from bands, producers and those in the music industry.
tempus tipped att as abuy- what holding is CME is song one stock or a trust?
Decision made - I have today sold most of my holding in ATT but am keeping 500 shares - I am sure there is a little more growth in the share price but the proceeds have found a new home. The bulk has been invested in CME and the remainder in SONG.
The holding in CME is to compliment my holding in Deutsche Bourse which has done very well over the last year.
Hopefully the $1.9 tn package unveiled by President-Elect Biden will be welcomed I have increased my appetite to risk in the main because all the major economies are going to have a wall of money pumped in to ensure survival. This coupled with the beginning of world rollout of vaccine has all the hallmarks of a substantial uplift in markets for the next 12-18 months.
The share chart remains intact, but my concern is not that the trend will fail, but that the chart direction for ATT has been consequential on the stellar performance of Tesla. Each month, the company provides breakdown of portfolio holdings and some valuations seem a little frothy.
I am wrestling to make decision. Top slice to remove capital and allow profits to run, do nothing in expectation that trend will continue or sell and bank all profits. Past years, I have added to my holding in ATT but 2021 has the hallmarks of being a little different and although technology will continue to be as essential as say BP or Shell to a portfolio in the 1970's for 40 years, my hunch is that green energy is going to be the driver for the world post covid.
Not in a hurry to decide, I might add as covid is nothing like under control, but the intention is preparing portfolio for inevitable direction that will profit some sectors over others.
How's being out of the market with ATT playing out? ATT continue its trend finding new trends in tech and continuing to rise. Now vaccine news is known it's hard to tell where the next downturn will happen.
I continue to buy and will add on the dips.
Yes, it really is an excellent fund isn't it. Served me well since I invested here.
thank you.
from BullionVault.
https://www.bullionvault.com/gold-news/insider-dealings-100320191