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In every market crash, Warren Buffett bought and reaped the rewards. I will do the same and hope you do also CM. The next AUM update will again show an increase...the divi will increase again next end of year and this is one hell of a company with great management.
You should do what you feel you should do Investinvalue. I do understand what you are saying but regarding macro events we will have to agree to disagree. How long it will take to correct the macro events remain to be seen.
I wish you well and good luck
CM
Ignore macro events! The great Warren Buffett has said done and proved markets wrong tme after time. I am not in love with any of my investments but the numbers are goo and this is a value investors dream. Great value and I will continue to buy both because the numbers are good and so are the management. The recent share cancellation is also positive. I believe once the macro events have corrected...MGR will rise and the with AUMs continuing to increase...this is a strong buy IMHO.
Kind Regards
It's up to you totally what you do Investinvalue and I am certainly not giving or intending to give any advice. However, be it MGR or any other share, selling and taking a loss, small or otherwise, can be far better than holding and seeing the loss become significantly greater. Too often we can as investors get blind to our holdings and "fall in love with them", not looking outside the box to see whether there are better investments out there at the time. When we finally come to "divorce" our holdings it can be mighty expensive.
A vast majority of my holdings over the last 2 years or so are now trading below what I sold at, whether it was at a profit or a loss. In other words, had I held onto them I would be FAR worse off than having cut my losses or taken my profits when I did.
Part of investing is recognising that at times we will make a loss. Most investors lose money on the stock market for the very reason that they will not take a loss and admit they made a mistake. I believe that if I sell and it was a mistake then I can always re-invest even if it is at a higher price than hold blindly and see the mistake was not selling.
"Looking to buy all the way down!"; what?, even if the share price should drop to sub 40p, 30p or whatever?. Seen/read it so many times on the boards, it RARELY works.
I am not disputing MGR is a good company but the market generally, on a macro scale, is dire at present. I have seen a bear market in the somewhat distant past and know what caos it can cause. This time, if it is a bear market, may be far worse because so many investors have had no experience of the drip, drip, drip erosion of the value of their holdings and will hold on the bitter end. BUT, again, I say, I may be wrong, I hope I am.
Good luck Investinvalue, whatever you do.
Regards
CM
Why would I sell? If you sell you make a loss. I'm looking to average down. Long term hold here . Good company, numbers look good and good divi. I'm buying all the way down!
At what point do you stop hoping for a further fall in share price?. If you want/expect the share price to fall then why don't you sell your present holdings and buy them back and more at a cheaper price?. Sorry. But I find your view utterly bonkers!. Here I am thinking a RISING share price was a good thing. Had I kept my holding and added more on the way down, "averaging down" I would be sitting on a very large and increasing loss, not the decent profit made exiting at 72p.
Folk are so use to a bull market for so long many have never experienced a bear market, which MGRand very many other good company share prices are now experiencing. Lower highs followed by lower lows.
Good luck to all
CM
WELCOME BACK SKID. I'm holding on for longer. Great divi at 48p per share. No brainer. Hoping for another drop so I can get my average right down. What did you make of the recent RNS?
I have traded in the past giving me 10k of shares now effectively at zero cost. This is a class company with a lot of cash on the balance sheet throwing out a good dividend. At this price back in this morning with a 15k buy. Will hold to 60p.
Sorry I couldn't be the bringer of the optimism you probably wanted. I was stating things as I saw them and after todays' fall on the DOW, remain of that opinion. The rally on Wall Street yesterday after Trumps words regarding China and tariffs and his optimism has soon waned. That is not a good sign. The market is looking for good news to be able to rally on the back of but just can't keep its' enthusiasm. The days of a rising market regardless seems to have passed. Many shares are showing lower highs followed by lower lows, especially looking at the last few months, regardless of results and prospects and looks like it is market general. This is the total reverse of what happens in a bull market. If this was/is a correction then in my opinion (only) it would be short lived and maybe harsh followed by a recovery, not the continued drip (and more).
Investinvalue - I would very much like to have your optimism. I truly hope all turns good.
For my circumstances, a private pension maturing at the start of January, I need the market to hold up as best it can for the next month since some of the pension fund is dependant on it. A Santa rally would be most welcome.
Good luck all
Regards
CM
Many thanks CHEQUEMATE and good luck to you.
If we see a decent AUM rise in the next update SP should see a decent rise from these low levels.
Yes. In rising markets companies like MGR tend to do very well but when there is a down turn in the markets they can suffer. I mentioned in my last post that "this could be but not necessarily is the start of a market correction..........it may just be a very short term market shake." MGR has lost almost 20% of its' value since then. Although there has been some relief today for the markets I feel that this may just be a relief rally and short lived and that there is likely to be more downside yet.
There is very little if any good news around generally; rising interest rates in the U.S (watch out for any announcement from the Fed on Wednesday of future guidance), falling oil prices (seen previously as good but no longer for the U.S), trade war/import taxes between the U.S and China, Brexit, Italian budget concerns, etc.
Whereas I was of the opinion that the market may be in correction mode, I am now more bearish. There may be a "Santa Rally" over the next month. Come next year though things may get a lot tougher...........or not of course since I am no expert and am only giving my opinion.
From the RNS of 10 October, AUM under management it was stated:
"It is encouraging to report that the Group has continued to see positive net inflows across a wide range of strategies and good long-term performance. The Group achieved the 9th largest net retail sales in the UK in the second quarter of 2018, as noted in the Pridham Report.
After a number of years where markets have risen strongly, several major markets have seen declines in 2018. Despite this background, Miton has achieved strong flows and with our range of genuinely active funds and strong distribution, we are well-placed for an environment where returns on all asset classes may be challenged by the end of quantitative easing and rising interest rates."
As previously stated, I am now out of the market but sitting on the sidelines watching. My circumstances have changed and so I am in no rush to re-enter just yet.
The very best of luck for those of you invested here and elsewhere.
Regards
CM
Why the SP has fallen back so much here?
Any guesstimates for the next AUM figure and where the SP could be after the update? It should be another massive increase and I am hoping for around 90p plus and hold at that level.
MGR is reported on in todays Stockopedia, plus more general information which is interesting reading. Graham Neary makes some very relevant points.
https://www.stockopedia.com/content/small-cap-value-report-wed-10-oct-2018-market-volatility-cake-sos-wgb-mgr-vtu-bowl-406124/
This could be, not necessarily is, the start of a market correction, looking across the whole market and at the DOW Jones today (currently down over 800 points, 3%+). It may just be a very short term market shake.
I no longer have any share holdings, having sold out of my last holding yesterday. My circumstances have changed and I don't want to be in a position of seeing my capital reduce further than it has over the last month and more. Previously I have never been able to stay out of the market completely for any time more than a month; this time I will be more cautious and await developments.
Very good luck to all here and all of your holdings.
Regards
CM
"Should be" may be right, "is" is what it is. The market isn't interested in what we think should be the proper price. I understand your reasoning but in the past that reasoning has led me to hold a share for too long and see a profit disappear and lead to a loss. Not recommending nor advising any action, that has to be down to each individual according to their circumstances.
I contemplated re-investing this morning on the back of the rns re AuM but held off. I don't like the present market so have taken a position in SUK2 which is an ETF. I haven't the time to go into what SUK2 is right now, bar say it is a little risky, it tends to go up when the market is going down (and vice versa). It isn't a share but acts like one and there are no market makers to get involved. Again NOT advice nor recommendation.
Good luck
CM
Are incredible.
Higher than PAM and chasing IPX.
MGR share price is way undervalued and fundamentals are strong.
SP should be around the 85p mark at the very least and must have a rerate soon.
Highlights
· 30 September 2018 closing AuM of £4,868 million (30 September 2017: £3,532 million) (+38%)
· Total net inflows of £927 million in the Period (nine months to 30 September 2017: £312 million) (+198%)
· Average AuM for the Period was £4,320 million (nine months to 30 September 2017: £3,252 million) (+33%)
Having seen so many of my shares fall from a good profit into a loss recently, I have reluctantly sold my holding late today watching the share price fall back. I decided to take a good profit of over 40%. If it proves to be a mistake, then I can always re-invest which I would rather do than realise the mistake was not selling and then selling at a lower price, seeing a loss getting steadily bigger. Selling is always the difficult part to investing.
The general market is not good at present and should there be a fall then it is likely to affect most if not all shares.
I will keep a close eye on MGR. Didn't like selling.
Regards and good luck
CM
This could have a serious affect on markets.
https://www.cnbc.com/2018/10/05/italy-government-announces-brave-and-responsible-budget-2019plan.html
Reducing my porfolio, but at present, as at 10.00 I still hold here and in just one other share.
Regards
CM
Todays views from stockopedia may be of some interest:
https://www.stockopedia.com/content/small-cap-value-report-mon-24-sep-2018-duke-mgr-xlm-xpd-401164/?page=1#comments
Regards
CM
i mean interim dividend , sorry about that.
MGR does pay a dividend
very strong results , i thought MGR would start paying dividend , maybe next year.
we will see what Monday brings.