Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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booooom lol
not a single trade in 2013...let's see whether we can establish some weird record
but still uneasy
a painful toe
not accumulating here!
yet - early days but a few hardy souls buying modestly Well done Jolly regretful
If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long- term performance of the business may be terrible. I call this the "cigar butt" approach to investing. A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the "bargain purchase" will make that puff all profit.
At 15:50 the shares, down four pence, had hit a low for the year of 32.5p.
Computer hardware supplier Northamber's share price decline shows no sign of abating following a disappointing trading statement for the first quarter on Wedesday. The company warned that.turnover in the first quarter was "marginally lower" than for the final quarter of the previous financial year, which was "a reflection of the contraction in our sector, the summer months and the Olympics." "With contraction in volumes, our ability to earn retrospective volume rebates was significantly affected and reduced overall margins. This resulted in first quarter margins almost one percentage point lower when compared with the prior year as a whole." Alarmingly, it concluded: "Our economy and our sector are in a state of flux and it is difficult to report any accurate assessment of the short term future. We can but maintain efforts to concentrate on delivering profitable revenue, alongside our well-repeated mantra of controlling costs whilst taking whatever opportunities that emerge." For those value orientated investors who collect cigar butts, there was some more positive news as it revealed that its net asset value a share at 85p was only slightly lower than at the end of June (85.7p a share).
Warren Buffett: How To Make 50% A Year In Micro Cap Stocks (extract from Gurufocus) Here’s Walter Schloss on Ben Graham: “When Ben was operating in the 1930s and 1940s, there were a lot of companies selling below their net working capital. Ben liked these stocks because they were obviously selling for less than they were worth but in most cases, one couldn’t get control of them and so, since they weren’t very profitable, no one wanted them. Most of the companies were controlled by the founders or their relatives and since the 30s was a poor period for business, the stocks remained depressed. What would bring about a change? 1. If the largest controlling stockholder died, the estate may want to sell control. 2. If business got better, then the company would make money.” Notice Walter doesn’t say anything about liquidation. This is a common myth about Ben Graham and net/nets. Ben Graham did not buy net/nets because he thought they would liquidate. Ben Graham bought net/nets because he knew the businesses were selling for less than they were worth. This is obvious with a private business. If you put your private business up for sale, there will be no discussion of prices below the net current assets of the business. Private businesses are not bought and sold below their net current assets. So why should pieces of public businesses be bought and sold below their net current assets? We can take this analogy further by looking at lenders. For over 2,000 years, it’s been pretty easy to borrow against net current assets. The character of the business owner and the quality and future prospects of the business itself have mattered very little to lenders who knew their loans were covered by cash, receivables, and inventories free of other obligations. If buyers are willing to pay more than net current assets for almost any business regardless of its quality, and bankers are willing to lend up to net current assets for almost any business regardless of its quality, why shouldn’t investors buy pieces of every business selling below its net current assets? Mostly, they do. Very, very few businesses sell for less than their net current assets. Almost all net/nets are micro caps. Some people assume that means that there’s something peculiar about net/nets. They’ve got it backwards. There’s something peculiar about micro caps. Small stocks tend to be undervalued more often than large stocks.
Computer hardware supplier Northamber's share price decline shows no sign of abating following a disappointing trading statement for the first quarter on Wedesday. The company warned that.turnover in the first quarter was "marginally lower" than for the final quarter of the previous financial year, which was "a reflection of the contraction in our sector, the summer months and the Olympics." "With contraction in volumes, our ability to earn retrospective volume rebates was significantly affected and reduced overall margins. This resulted in first quarter margins almost one percentage point lower when compared with the prior year as a whole." Alarmingly, it concluded: "Our economy and our sector are in a state of flux and it is difficult to report any accurate assessment of the short term future. We can but maintain efforts to concentrate on delivering profitable revenue, alongside our well-repeated mantra of controlling costs whilst taking whatever opportunities that emerge." For those value orientated investors who collect cigar butts, there was some more positive news as it revealed that its net asset value a share at 85p was only slightly lower than at the end of June (85.7p a share).
I punted 2.2k @ 35p, and have (buyer's regret) now started to get a little nervous about the quality of receivables ("debtors drift" in today's IMS woke me up and cash at only just over £1m - ouch) Thoughts (not necessarily reassuring) welcome Not so Jolly
Northamber swings into the red Date: Friday 26 Aug 2011 LONDON (ShareCast) - Computer hardware supplier Northamber moved into an annual loss as it battles against slowing sales and endemic price erosion. The Surrey-based firm reported a full year pre-tax loss of £106,000, the first full year loss in 18 years, compared with last year's £258,000 pre-tax profit. Northamber also reported a £7.4m or 5.8% drop in sales to £121.1m after a decline both in volume product sales since last January alongside the extreme price erosion driven by supply/demand excesses. Sales in its final quarter fell 10% from the previous quarter, during which the group posted a small like-for-like increase in turnover. Looking ahead the group noted concern about the potential impact of the downturn on the UK economy and its effects on its industry in particular. "Market events and our experience during this last year lead to the simple conclusion that it would not be sensible to offer any optimism for the near to medium future," it said in company statement. "We will continue, as we always have done, to be vigilant, cautious and ever mindful of optimising our opportunities whilst keeping close control of our operations and costs," A reduced final dividend of 1p has been offered, down from 2p last year.
http://www.investegate.co.uk/Article.aspx?id=201108260700090794N
With what looks to be circa 46p in cash + recent buy back of shares for cancellation + ex-divi date of 3 March 2010, this is a great time to buy in my opinion.
Can anyone please tell me why the big rise yesterday?