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and then sold at a £1 according to his blog - if that can be believed
I believe he bought back in at 82p?
The directors buy of 373,245 shares @ £1 must be seen as a significant vote of confidence from someone most informed as to the future of this high margin business. NT no doubt kicking himself for not believing in the company's potential.
Happened with a few stocks today. Sharp drops out of nowhere...
What was that all about? Took advantage though. Hopefully there was no reason for it except MM games.
Thanks for your insight CM. Interesting times at the moment!! Markets in freefall. Odd day of recovery but then heavy selling again. Should have listened to my head about a month ago, telling me to run healthy profits and cut any laggards, before a potential fall oct/nov. Didn't expect the fall to be this bad however... Good luck in your investments. I'm staying on sidelines for now. PHTM had good results yesterday. Up 14%!!
I think the hardest thing in investing is undoubtably selling. Buying is easy by comparison because we can always find some reason, however far fetched to buy. When it comes to selling it seems we can always find some reason for holding, however far fetched. Guess that is our emotions kicking in. I have tried to keep a distance from my investments more this last 6 months or so rather than constantly viewing them which is so tiring. I thought RBGP would be low risk and kept holding when I really should have kept to a stop loss realising I could always buy back in if I felt I had made a mistake. The mistake was to keep holding. Today the share price has risen, of course, a couple of days after I sold out. That of course is one of the reasons why we continue to hold, fearing that if we sell that will be the time the share price will rise!.
I am hoping the general market will hold up until at least the end of the year. I have a relatively small private pension kicking in at the begining of next year. What I will receive is very much dependent on how the maket is performing. There are wider worries about not only Brexit but also what the popularist Italian government is proposing, ie increasing its' debt to way above what the EU permits, with-holding its' financial contributions etc. The Italian govvernment wants the EU to bail it out of current financial difficulties but the EU is against that because for one thing it would possibly lead to other countries trying the same trick.
Regarding OPM and its' great results and consequent share price reversal - nothing new there. I have experienced that many a time with my holdings. Perhaps the market was expecting more and/or there has been profit taking. Such is the stock market.
Regards
CM
One of the hardest things in investing, knowing when to buy/sell. I am not invested here but is on my watchlist. Was bullish but after events these past few weeks clearly sentiment is stacked firmly against for now. Whereas KEYS sp has rocketed past week or so. Off topic, OPM had fantastic final results, and sp has done nothing but decline since. The vagaries of the stock market!!
Wise move it seems. I have been making my usual mistake of balancing one stocks negative movement against anothers positive movement to justify holding, believing that there is little reason for the degree of the fall and there should be a bottom at any moment, only to see the fall continue. By now I really should have learnt not to do that; it rarely works out.
I should have sold out and looked to re-invest if things turn, not hold. Now all I can get is a trifle of 86p. My fault. Cut my losses I guess.
No response to my email; if they received it.
Re Naked Trader, I expected him to exit near his stop loss. He must have read something into the rns I/we haven't/didn't.
GLA
CM
Naked Trader bought at 115p and exited at 106p. Before stop loss at 96p was hit. Wise move...
Thanks for that threeput.
I emailed the company on Friday about the divident mentioned in the admission doc but haven't had a reply yet.
Perhaps grasping at straws, but I see no institutional selling at present. However it isn't their money invested more their reputation and the ask price is back to what it was at the placing/admission. Additionally the market is not good generally at present with many shares down and across sectors despite what the FTSE100 is showing.
Significant Shareholders:
So far as the Company is aware, apart from directors, the following persons are interested in 3% or more of the Company’s issued share capital.
Name No. of Ordinary Shares held Percentage of issued share capital
Ian Rosenblatt 16,911,214 21.1%
Miton Asset Management Ltd 12,630,000 19.8%
Fidelity Investments Inc. 5,260,000 6.2%
Blackrock Inc. 4,800,000 6.0%
Schroders plc 4,210,000 5.3%
Marlborough FundManagement Ltd 3,000,000 3.75%
Last updated:
17 Sept 2018
I continue to hold......at present. With the shares being illiquid selling can be difficult.
Regards and good luck
CM
I limit sold at 95p this morning, it didnt seem to be recovering much and as you say there is no catalyst for any rise atm, I just felt it would drift again after those results and a better price might represent itself at some point. Sold just in time by the look of it
......still holding here?.
I try to get a sell price for my 2600 holdings but can't get anything more than 93p for selling 100 or 90p for selling 1000. Can't get a buy price because I haven't enough funds in my non ISA account. No good trying to sell 100 shares at a time when looking at commission charges. Not desperate to sell, but never like looking to hold for long term in any investment.
Shares are very illiquid here; no demand for the shares one way nor the other.
Could do with some positive news to drive the share price, but can't see that happening in the short term.
GLA
CM
Figures given in yesterdays rns were only for an 8 week period. Nothing astonishing, nothing particularly bad. Brexit worries/concerns obviously weighed on the market and was probably the main reason for the fall. It seems most companies share price is pushed down on results day unless the phrase "beyond market expectations" is used.
In the first rns released by the company on the first day of admission to the market the following was stated:
·    It is the Board's intention to commence the payment of dividends following Admission. The Board would expect the Company to pay out at least 60 per cent. of retained earnings in any financial year by way of dividend.
·    It is currently intended that a first dividend will be proposed in respect of the period from May to September 2018 before the end of 2018. The Board expects to pursue a progressive dividend policy over time.
Nothing was mentioned about a dividend in yesterdays rns - I wonder if the market was expecting something?.
The current market price would appear to be around what was the initial price to market back in May. Look at in that way things don't look so disasterous.
I would be interested to know Robbie Burns, the Naked Trader, take is on things. I continue to hold, having bought in initially at around 109p and topped up at around 119p. The rise to 140p or so may have been over enthusiasm.
Having been away for 2 weeks and having absolutely no news about anything whatsoever, I have no idea what the market generally was doing during that time. Not a lot it seems, at least not positively for me.
A longer term hold I feel.
Also, this is a very illiquid share. There can be a lot of movement on very little volume.
GLA
CM
Red, I sold my holding this morning as well. Had bought in early June so took a hit like you but decided limited future here. gla
Thats the end of that then..stopped out by my stop loss. I wish i stuck to my normal rule of selling if a director leaves for "personal reasons" I Should have sold weeks ago.. I took a risk and failed,hey ho.. Good luck to all who are in this , this will never be a burford, They dont have the staff or experience (as stated in the lower bottom half of results) Will put the remaining money back into Burford Rosenblatt need to keep buying up firms and growing.. maybe in a few years it will be worth something This is still its first set of accounts so there no measurement to go against
MM Games pushing this down, surely, hoping people will misinterpret the results?
somebody has forsaken a pint to invest in this company.....
In the same boat.
There are obviously some concerns - high P/E and FD departure mainly, but the latter could be down to any number of genuinely person reasons (or maybe Nicky is a nightmare which isn't ALWAYS a bad thing). But until we see some early revenue figures, I'm not selling a bean. I'm fortunate that my entry point was 'only' 111p.
Just have to look at Burford to see what's possible with patience here.
most small investors are abandoning this share recently so how to explain the 1.3m shares bought in 3 tranches yesterday ? I was planning on selling ahead of the results later this month but maybe I will now just hang on to see if anything is happening. gla
Some pretty big buys around 12.45 today. Wonder if it will lead to a holding rns tomorrow.
Glad to see some decent recovery; better than what has happened to another one of my holdings!. Would have been better to have invested here. That's investing for you I guess.
GLA
CM
Tend to agree with you. Personal reasons could mean a number of things from family matters to ill health (and doesn't want that disclosed) to being a naughty boy, although the latter would generally be with immediate effect, which would not be good. Who knows?. The market doesn't like FDs leaving though. Disappointing reaction all the same.
The company has stated it intend paying a dividend so I would hope results will be good. Not expecting much of a divi early days.
GLA
CM
All a bit of a mystery. It could genuinely be personal reasons - family etc, but he agreed to stick around until he'd worked on the update due in a few weeks or something. The person he's replaced with his more important than the fact he's left really.
The update will speak for itself, so I'm not too concerned about it at this stage.
Has spooked a number of pi's. So near their first update, why now? - as a holder I am considerably down and was hoping the September update would kickstart the share price.
Market doesn't seem to like these board changes that have been happening.