Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Share price right now £5.81. Asset value right now £6.81. ,!!!!!
PHI is being added to the FTSE 250 listing this Friday in place of Biffa which is being taken over.
Any thoughts on the sudden surge in price?
They have to be - especially with a growth fund. Added today even later in the cycle than my previous purchase a 100p cheaper!! I should sit on my hands longer!!
Manager is very bullish on Far East and his fund
Bit later in the cycle so seems a sensible option for me to buy in yesterday. After FEET debacle perhaps this may be a better home for some of the funds.
Got back in at 718 (NAV discount just over 2%). I will continue to keep an eye on the discount. Will buy more if the discount increases significantly (to exceed 5%).
Bingo!! Now trading at a discount, at last (of around 2%). I will be getting back in soon.
Premium now down to 3%. I will be watching this very closely from now on.
Premium is relaxing now, down to around 6%. It is getting close to where I will be looking to get back in.
Call me old-fashioned (you would not be the first) but a premium of over 10% does not make sense to me. I see this as an anomalous situation which some might characterise as the result of "irrational exuberance".
Agreed, though it's only in the last 4-5 years that PHI's share price has done very much. And really only since March 2020 that it got rocket boosters. Always worth bearing this in mind, as stellar outperformance (like the move from around £2.50 to £9.25 over the past 18 months) won't last forever. I'm not saying this isn't a good IT to own. Just that it'll probably come back down to earth eventually, so I'd advocate slight caution at current levels. Same goes for SMT, which I also hold, and has also had a stellar run recently.
Developed nations are, I suggest, resigned to the need to live with Covid 19 for a few more years.
Pacific Rim is the major influence that is growing in response to the re-opening of the major economic areas, N America, Europe and Far East. I am expecting continued interest in this IT. Trading at a premium to NAV is really an endorsement in the managers to grow the trust and reward shareholders through their skilled stock picking approach, though it would be nice if the NAV caught up with the market cap to narrow the premium.
Once again, I am concerned by the premium (8.2%) here . Although the shares have usually traded on a premium over the past 18 months, the current premium does not makes sense to me. Once again, I have sold all mine. I expect to be able to buy again at a better price, probably in the short term.
The short term trend reflects the actions that the Chinese Govt are enaction on business. It might go on for a few more years, but the mkt have taken thisinto account to have marked the shares down.
When the Stock Market has a sale, most run for the door. I am on the prowl for bargains.
Just bought back in at 793. Will buy more if price weakens further.
I am concerned by the premium (7.8%) on this one . Although the shares have usually traded on a premium over the past 12 months, the current premium is at the top end of what makes sense to me. I have sold all mine on the basis that I expect to be able to buy again at a better price, probably in the short term.
Nice to see the SP going in the right direction now!
Over the last 10 years the share price has traded at a discount to the underlying assets (NAV) by between 8% and 12%. However, the exponential growth since March 2020 has seen the NAV discount all but evaporate so I am expecting a little more weakness in the share price but with a strengthening in the NAV.
I'm happy to wait for the historic balance to be restored or at least see the SP trading above the 50 day mark before making any decision to adjust my holding.
Rise was because the DOW breached a new high, soothing words from poker faced central bankers to dampen bond yields. Money has to be made somewhere and it all comes down to the management of risk.
So, while it is relatively easy to manage an investment pot of say £1m to have a consistent return of 6%-8% capital growth and 1.5% income by spending one day each month reviewing the portfolio and perhaps executing 2 bargains each month. If the same approach were taken with a portfolio of say £5bn, politics, economics, weather, war and seemingly irrelevent news can and does have effect.
It is easy to shift a single £50,000 holding, but if the holding is notifiable (3% or greater) there is the potential for disruption. A good example was investors running for the hills when Mr Woodfords flagship funds began failing. At first could replace funds through new investor contribution. When those dried up, so the poor performing holdings began to be sold off. These sell offs caused further weakness that accellerated share price falls. Falls, reduced the NAV of assets to cause further worry...... Investors left and called their money in so greater and more substantial sales of the realisable assets were necessary and the spiral continued.
We have seen something similar. Realisation that when each huge slug of cash introduced it will ensure that workers remain employed and taxes are generated to allow a country to function. Coupled with interest rates that are negligible and all is good. When there is no margin to reduce interest rates and the amount being chucked at the problem, two things happen. First that it dawns that the money needs to be repaid and second that the shortest way to repay it is through the erosion of capital.... ie, inflation.
Inflation means that wages and thus costs, rise and margins shrink. Equities thus have increased risk but bonds provide safety
After a shaky frightening drop. Delighted to see this take off today.
I bought in again at 780 and saw a significant loss in days.
Hope this rise is sustained, not sure wasnt was driving this today ?
Well, I console myself that as I have been trying to build my portfolio since 1979 when I graduated, I have probably seen the full gamut of catastrophe and exuberance. Investors have much to look forward to as the immediate future becomes clearer.
Let's start with the $1.9tn relief package that has been approved in USA. Putting that in perspective it is like a single money injection equivalent to $2,000 for every minute in 2,000 years. Next, corporate America is no longer in an earnings recession, then we have China that this week published its 5 year plan and forecast 6% economic growth for this year. Add to this that 20% US and UK have been vaccinated against Covid19 and about 12% for Europe. All are starting to find their feet again to begin the rebuild of economies.
Economies deliberately sacrificed to prevent deaths was a new one on me and it is clear to me that most governments had poor management at the outset, panicked as matters worsened but were always focussed for managing matters at the point of inflection. That point was found in November with the announcement of viable vaccine, and started to kick in once the vaccination program began to be rolled out.
This is most definitely the point (IMO) to be fully invested. The vaccination program that began 2 months ago has provided protection for 20% of the most vulnerable (in the UK) and by the end of March, I warrant that this will rise to be 20% fully protected and 35% UK partial protection.
The Pacific region has populace that is far more compliant of rules than the developed West and that is why their economies are recovering faster. But they are not yet vaccinated in substantive numbers and it is that which is perhaps suppressing growth.
I remain bullish and anticipate adding to my holding during this month as I re-invest dividends that are starting to again appear on my account. Please do not attribute any credence to my posts as I do not hold licence to provide investment advice. Simply these are the musings of an old bloke from a troglodyte perspective
I bought in December & was up 30% as quickly & recently as last month. Pretty much all of those gains have now been wiped-out. Figure I might as well let it ride, as the WEF tells us "by 2030 you'll own nothing & like it".
This is pretty rough. It's been a downwards trend ever since I invested a week ago (sorry!). Anyone got a price for averaging down?
Well, things are al looking a little bleak at the moment, aren't they? Americans don't give a hoot about having a liar as a President for 4 years yet get hot under the collar when yields rise a paltry 0.25% (or whatever it was) from an unprecedented low because there is the glimmer of inflation.
China is forecasting growth of more than 6%, USA has drawn a line under corporate earnings recession, UK has vaccinated about 25% population, America 20% and Europe is beginning to catch up albeit from a late start. I remain bullish despite having had an atrocious few days with my portfolio taking a caning.