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Haha I thought you were taking the ****. Don't worry I found it funny lol Unfortunately I sold out here the same day I bought in - a first for me - due to the reasons I have in a previous post on this bb. So thanks for the 'well done' but, for the mean time, I'm not in here Hope you're doing well (and had a better March than I did) haha!
no of course not..its blue mate so i said well doen. should easily rise now on back of oversold last week..imho
Are you being sarcastic?
well done libero!!!
Libero: Wow!... You didn't need to justify your actions to me but that having been stated I really respect you for that, and indeed the descison you've reached with this one. I was only trying to keep you positive so to speak. I am reasonably new to the Bullitin Board concept and have been seriously trading my pension pot for five years or so. It's a lonely existence but it's very refreshing to be able to communicate with those of a like mind. I have learnt a lot fom the boards and there are some good guys out there who just genuinely want to help. I Still make the usual mistakes : take profits to early and run with losses though on balance pleased thus far with the results. Any way have a great weekend and all the best for Monday, I am sure it will come good for you ! PS Am wondering when the market correction will come and if it's "Sell in May and go Away" ..for a couple of years or so?
George - I know it looks awful but let me explain. CSN has been on the watchlist for a while. They released the FY results this morning and they were surprisingly brilliant and confirmed next to no annuities exposure. I bought within 10 minutes of reading through the report and was surprised to buy at 298 I then realise the reason for the fall - it was because the FCA announced that they had launched an investigation into life insurance policies and "zombie accounts." I didn't properly register it because I didn't have the time to. Instead I did more fundamental analysis and felt increasingly bullish, especially as the share price seemed to be rebounding. This lunch time I decided to properly look into the FCA thing and work out whether it'd effect CSN and concluded it would. I figured it could rise nonetheless because it is so undervalued. It became evident that the FCA investigation & its effect on Chesnera was what was stopping the share from rebounding. I ended up concluding that, whilst the FCA investigation went on the upside was hugely diminished but there was still upside. Considering that SFE is another stock I really like and their results are out on Monday, I decided to shift my money there at a slight loss (due to commission costs) because SFE looks like it has more chance of rising in the immediate term. I haven't ruled out re-investing in CSN but this investigation is clearly haven't a huge effect. CSN are bloody unlucky about the timing because if the investigation announcement came on Monday we'd be trading at 360p + I reckon right now but there you go. I'll continue watching this share but I know the market hates uncertainty so I may wait until the FCA investigation is closed. We'll have to wait and see.
How can you possiby change you views in 2 or 3 hours from being very bullish to bearish....This share went from 297 to 311 only this morning and then you've got the divi yield...Hang on in their and BTW you won't be the only one with "slow burners" in your portfolio
How can you possiby change you views in 2 or 3 hours from being very bullish to bearish....This share went from 297 to 311 only this morning and then you've got the divi yield...Hang on in their and BTW you won't be the only one with "slow burners" in your portfolio
and I think CSN isn't going to move any time fast and I've already got enough undervalued slow burners in my portfolio so I've decided to move my money into something more likely to move upwards soon but I plan on re-investing here in the future. To release such stonkingly good results the same day as the FCA announces their investigation into life insurers is very unlucky. Had that not happened we'd be firmly up but there you go. These things happen. Unfortunately, whilst the annuities change doesn't affect CSN at all, the FCA investigation does because 88% of Chesnera's profits are from the UK and a large chunk of that is from closed life insurance book. Good luck to all here and sincere apologies for my departure.
a while now. Beginning to wonder whether CSN's very impressive results won't result in a higher share price until this bloody FCA investigation is over...
Nice to see Panmure Gordon agree with me here. Their 355p would provide a 18% upside from here, which I think is very conservative. I think we can do far better than that :)
Babbler, I don't know about the EEV to be honest with you but when CSN's financial position is so good, the P/E Ratio is about 7 (compared to the usual 13-14) and the market cap is less than 6 times profits for the last 12 months CSN's share price ought to far exceed 330p, surely?
lowest offer price took out thousands of trailing stops offer 3.04 now buy now if you want bottom price imo
Ditto. I got my half buy in at 298p & I'd be delighted to buy even more at 280-290p if I get so lucky!
Increase of £65.3m in EEV to £376.4m (2012: £311.1m) So slight discount at current price. The close price yesterday was about right imo. However if they continue at this rate next results should surpass this MCAP.
My sentiments exactly Libero. I have made a tactical buy but, with the price falling, held half back ready to buy even lower if it goes that way.
CSN does not do any annuities business. So don't worry about those other participants in the sector. We're not in the same boat.
http://sharecast.com/news/market-overview-insurers-lower-on-fca-reports/21571610.html "0913: Heavy share price falls in the insurance sector are keeping a lid on gains on the FTSE 100 this morning on reports that the Financial Conduct Authority is investigating 30m policies sold by insurers between the 1970s and 2000. Insurance peers Resolution, Legal & General, Aviva, Standard Life, Prudential, Phoenix and Partnership Assurance are all down sharply. The FTSE 100 is up 38 at 6,626." That's the reason for the sector but CSN shouldn't be suffering like this. It's profits have more than tripled for ****s sake! So just ride it out. My buy was a half buy and if it falls lower then I'll buy a half amount again. And if it falls even further I'll break my own rules and buy again. That's how bullish I am about Chesnera :)
These cos. are being well oversold you still cant get your pension pot unless you are over 60 and its under 30000 pound they will come up with some new rules before 2015 when everyone can get at there nest egg this sector must be open to M&A one would think??
The insurance sector is being slaughtered at the moment and therefore CSN has been UNFAIRLY dragged down with it. But who cares? Lets do what Warren Buffett would do and take advantage of this situation and buy
I've watched this for a while because I thought it was fairly cheap before. Now we know they have next to no annuity exposure and their profits have tripled I just had to buy in. They're currently trading at a P/E ratio of jusy 7 when the sector average is 13 or so. This is totally undervalued at present and it was the easiest decision to buy I've ever made.
So why has SP dropped so much? I am adding right now as I hope this will rate even higher later.
What amazing results!! Earnings up by 165% when the consensus prediction was for only 6%!
2013 results tomorrow. tick up on price .dividend maybe11.75p?.
I'm getting there, it looks like Pension funds are 85%+ of the business. Sorry I'm so slow.