Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Being too hasty and without my coffee I bought shares in my first IT. But I forgot to check the premium. According to the FT this is about 29%. Should I be worried?
Did make the point about the NAV long ago but historically this is near bottom at 20% premium and what would price be if the core company was sold off ?? \therefore think it is safe to buy again - but the damage caused by the HL. and WPCT fiascos and now the BUR short may mean it's a long time before it goes silly again - if ever. JMHO
£1,057.5497 per Ordinary share ON THE 20TH AUG
heading towards a 20% premium, Why pay £1300 for something worth £1057 ?
The shares need at least a 100 for 1 re-rating, at £1300 each they put smaller investors off , when they were were about £2000 we got out. Think the NAV is at a premium of about 10% So why pay more for shares than they are worth. If confidence disappears the NAV could drop to a 10% discount, giving you a 20% loss.
I bought too soon. Down 20%.
Hopefully it rises now.
The only nav I can find under fundamentals is 89 in April. I hate to say it as I have always been a fan of nick train but he is showing signs of Neil Woodford syndrome. I bought one share at 1500 and sold it at almost 2000. Only £500 but I lost my bottle. A large premium means a minimum risk of that premium. Cannot see any reason to reinvest at these levels. Plenty of investment trusts conservatively managed at a discount, Dunedin net is winding up but good value, also Oakley capital.
What is the NAV on this? This is really one to drip-feed because even at 30% more than NAV there is downside.
The standard behaviour would the SP follows close to the NAV, so £1100, £1200 at a push?
The dividend is about a month away, and under 2% at these prices.
LTI doesn't appear to have a standard behaviour.
I wonder what a fair price is here? I just bought in as a punt but I have no idea
I got in a bit early on the way down at 1,476 and on the bounce at 1,430, would have been nicer to get them at 1,201 though :(
Me too. 11 units, Thursday. Wish I'd got more :-)
I did last week. 41 units.
Me too
Now that the SP is close to the NAV, I'll buy some. :)
Hello,
I am a Lindsell Train Global Equity holder and the performance is more than good.
40% ROI for 20 months is something which I could not complain about.
I do agree H/L made a big mess referring Woodford fund up to the last moment.
I found Nick Train's comment very sensible.
All IMHO
The commentary included a view that HL might have been a little too eager to protect their already bruised reputation.
Train says "So we consider on an ongoing basis the possibility that the investment decision to invest in Hargreaves Lansdown, that Mike [Lindsell] and I first took as long ago as 2007, could lead to such a conflict. [But] we do not believe there is a conflict, because we cannot conceive how our investment in Hargreaves Lansdown's shares could influence that company’s investment experts to recommend purchasing or selling our funds to its customers. Is it really credible that Lindsell Train would openly pursue a business strategy that relied on us using our clients’ savings to try to persuade a reputable counterparty to recommend our funds against its better judgement? No. We made the investment precisely because we admire the integrity, independence of thought and investment acumen of the professionals who work there. But in the current environment we can understand why questions might be asked.”
https://www.investorschronicle.co.uk/funds-etfs/2019/07/10/hargreaves-drops-lindsell-train-from-favourites-as-nick-train-adds-to-holding/
Looking at their NAV performance over time this looks like a decent time to consider investing. HL could resubmit LTI although I expect them to remain entrenched in their position, but either way as long as the fund keeps performing the NAV could catch up with the SP reasonably quickly and narrow the 30% gap.....if it narrows.
Anything that is trading over NAV needs to do so for a good reason. Clearly 80% over NAV is a nonsense. Train was warning people at much lower levels. Why pay £1.80 for a loaf worth £1? Daftness ..and now the bubble has popped.
I would only consider getting back in at 10 to +25% to NAV. I was lucky I sold as soon as someone explained the odd NAV situation.
Yes, you'd lose 5% on the spread before you even start. Then you;d be buying something at a price well over the underlying NAV.
Looks like the Nick Train bubble is leaking gas.
Alas; ~ the current 5.2% spread less so for short term holders!
Dropping closer to the NAV, which makes it an attractive proposition.
Tempted to buy. See if there is another drop. :)
I might buy one of these just for a 1 code lol.
Agree. Premium as low at is has been for some time. Have bought at 1580 and now at 1485. been waiting for 6 months to get back n after selling last November.