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Just keep faith in the buy to sell ratio. This has gone down daily yet more buys than sells each time. Just the MMs being manipulative little ball bags. The buy to sell ratio has to have an affect soon surely. Tempted to log out for a week!
"Let’s get back to seeing GGP benefit from GDXJ inclusion and just overall - hopefully we can be united in that!!"
LOL, agreed. Would still encourage you to read the GDXJ rules, because there's likely another big buy coming in December and you'll want to understand what's happening.
Final comment from me TMT - my opinion is that no one sets up a tracker fund or any type of fund just for the sheer hell of it - they seek to lure investors in to ultimately make money for the investors and themselves (no such thing as a “free lunch”). That is all I was trying to say - I didn’t need an insult for it - end of. Let’s get back to seeing GGP benefit from GDXJ inclusion and just overall - hopefully we can be united in that!!
Don’t worry about it
That 33 million pound buy are only 8 million down in a week!!
Chill
50moz not a ramp, give it a rest
Hi Spy, Harry Dent in one of his latest blogs stated that his wave cycles should give a 50% reduction in price from the last peak before entering the last bull run, while James Rickard stated he believes the gold run has already started for 3000 usd and if gold standard is introduced then to 14000 usd or more depending on the debt.
I think the IMF are manipulating the POG as the SDR appears to be following the SDR within a band of +/- 3 % and they can do that as they have 3000 tons locked away, so with the banks and IMF gold is held back, Last time gold was really manipulated for the banks was Gordon Browns bottom when he sold to the bans to get them out of their shorts, thats my reading anyway. Gold standard will be Trumps while digital SDR will be Bidens depending who gets in. For me GGP is the best vault in the world they cant steel it and for me i think there is at least 50 million oz down there, above not a ramp as i have enough shares to last many life times as it is at the moment. Onward the gold diggers. Ciao DM
would be hard to believe any member of that fund would want to sell within 1 week of admittance. they must be well aware of external market forces and will not make rash decisions after such a short time. downside for gold could be around 1780, but nothing stopping it sliding to 1400's
its all guesswork.
do we have strong SP support over 21p is more important
@redirons
Have you gone to the GDXJ site and read the criteria they set and publish for all the world to see?
If not, you have nothing coherent to say on the matter. You can't change the facts of what they really do just because it is different from what you think they should do.
They are not trying to make money, they are trying to track an index. If the index goes up, the ETF goes up. If it goes down, the ETF goes down. They are not "trying to make gains on their buys." They are simply trying to match the index.
They were not "invented to make money." They were invented so that those who wanted to invest in a pool of gold juniors without having to pay high management fees could do so. The tracker does not charge high enough fees for them to be doing what you suggest. It's designed to mindlessly follow an index, and the index is designed to mindlessly follow rules for what companies are included and what companies aren't, and how much they are included.
That is why we knew GGP would be included, because it is simply based on published rules. That is why we knew how much weighting GGP should have and why Hydro could call them out when they got it wrong. It's not handled by investment professionals, it's handled by low cost clerks.
I understand why you are saying what you are saying but it is wrong. It is all there in writing on the GDXJ website and the MVIS website. So to GDXJ, see what they say about tracking the MVIS index, go to the MVIS website and read their index guide.
TMT - tell anyone they are talking nonsense and they will be aggrieved!! I know the difference between a managed fund and a tracker but the point that you and Holla seemed to want to overlook is why were trackers invented if not to make money. They will have set criteria to follow the specific type of investment they want to (and it will do so rather cold and clinically) but not without the raison d’etre of making money by tracking specified investments that meets its criteria. Jeez I wouldn’t have to explain myself if you hadn’t decided to bring insults into play!!
@redirons, it really doesn't matter what you do and don't believe. The rules are clearly stated on their website and they follow them. The criteria exists, it is clear to read if you would bother. It is simply weighting as determined by the index. It's too bad you feel aggrieved but I did read your post and it is simply wrong, and this one is, too. If you want someone to have any confidence in what you say go actually read the criteria that is clearly written on their website.
If it were a managed fund you would be right. It isn't, it's a pure tracker, and pure trackers simply do not work the way you described.
I am here because of GGP and no one or any institution, especially one that did not understand the concept of Nominee companies versus institutional holders.
They took some shares of the table, great, but thats it and nothing much else so let’s move on and be happy we have consolidated in the 20s until hopefully the real news that matters is positive
My point TMT had you taken the time to read my post properly is that criteria does exist, and likely in order for them to make gains on their buys. In my opinion Holla had seemed to suggest that their buys were cold and clinical and seemingly without a care on whether they make gains - I cannot believe that to be the case and hence believe that their initial criteria setting seeks to achieve that. Before you accuse me of talking nonsense please read things properly...assuming you are able to!!
"ETF’s surely have a veto option." Pure trackers don't. Read the rules.
"Hollamatronic - it’s clear you believe what you write is true but aren’t you overlooking the criteria for the purchase? "
Holla is right. The criteria is very clear on the GDXJ website. Do some research and quit talking nonsense.
So all those ETFs that get told what to buy by addition or exclusion from an index decide when they buy or sell? Nonsense. If they held shares that lost a fortune in the crash that got booted from the index they sold at a loss. A tracker has to buy the dogs and the winners and buy and sell at rebalances. This etf is no different. Their weighting said buy 120m shares they had to buy 120m shares. End of. Mvis tells them to sell tomorrow they sell. Same with any share they bought for the tracking of the index. It is a shame people can't contemplate vaneck aren't making the decision what to add or when and making it out vaneck have done mega research and buying in to hold for a long time - someone even said until dividends start paying. Rubbish. It is nice addition but complete nonsense they have done groundbreaking research and decided to buy ggp as they see it as a share to make them a fortune for a long time... Mvis decided to add it a tracker at 0.66% weighting they have to buy it. Same way a ftse 250 has to buy the dogs kicked out of the FTSE 100 whether they want it or not. Believe what you like but vaneck run an etf tracker not a carefully selected batch of stocks they have chosen themselves for a fund.
Now onwards with more drilling news.
That's because EM is a fruit loop!
Buffett says
Many investors lack this self-control. They get disheartened by losses and therefore sell when stocks are unusually cheap
Hollamatronic - it’s clear you believe what you write is true but aren’t you overlooking the criteria for the purchase? Surely Vaneck choose very carefully the criteria they apply in buying and selling any share so that it more often than not gains money for the ETF? Nobody just gives money away and they are surely in business to make money - so it is not quite as cold and clinical as you allude? I wouldn’t spend £122m not knowing whether it will make money, would you?
So they don't care if they make money or not, some people talk total crap.
Yes because they had to buy. They didn't sit down and decide ggp was a good investment they were forced to buy the amount by mvis adding it to the index. They will sell it at whatever price on the day they are told to or buy more on a day they are told to. Etf make money from fees and they no more look to every single constituent making money than an owner of a ftse 100 or 250 etf expects. Wish people would stop making out some institution carefully did research and picked ggp out as a winning prospect to make them money! They didn't. I worked out they paid an average of £3.03 for hochschild shares which it hasn't been in about three years... The fact they paid something doesn't mean they're happy or that it was a price the share has to stay at.
Now we will get back up there with more news in the next few weeks but I don't think vaneck are sitting there watching the stock or care.
These daily drops do suck a little but remind yourself, a large institution was happy to invest tens of millions and pay 27p for the pleasure, their stance will not have changed in a week and neither should ours