Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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yes but where are markets heading now? I suspect will drift now for a bit before making minds up.
good call re support at £5 it seems
& like the look of your portfolio (none of which I have considered!) - best of luck with it With my Eeyore vision (obviously confirmed by weak week), mid caps are in the 4th Ring of the Inferno because so many have been puffed up by the bond bubble Really good to connect with a serious (minded) investor ATB Jolly chuffed
I think £5 pretty robust support, but if it rushes through it at any stage I'm out. I think you're right on property and better than gold IMO as less likely to yo-yo back down if and when things pick up. My jewels at the moment are QFI and CYAN - sitting on a decent profit with both but sticking with them as further news could be transformational for both. I also like the look of QPP. I have a few other eco-ish ones like OPE, APC, AFC and PIM but small amounts in each. TBH I'm not sure any mid-cap shares seem to be going anywhere at the moment - seem better to trade than hold to me.
with £5 (in weak market conditions) - doubt it will be the last (like a seedy Friday night at a nightclub)
decision time
I am aiming to get 50%+ of my equity in Jewels but there are tricky to find (and, when I sell a little of some like RGS over the past week or so, I just make it harder)
is from years of casual accumulation Because I am an Eyeore, and just this side of a survivalist, I see property in similar ways to how gold bugs see gold: real, tangible, not subject to general banking collapse and other happy thoughts. I do not really care if the property market falls 10, 20 or even 30% because I am not selling. I have, though, toyed with selling my principal residence (in C. London) if it reaches £2000/sq foot any time soon!
Mine's not great either. I think I have too many jewels and must pawn some. Trading pot seems only way to make money at moment and even that's tricky.
I have no sense of timing ...just when something cannot go on, it must stop ..some time I would still worry about corporate bonds because credit quality would deteriorate in general govn bond buyers' strike as global economy would stall (or worse) The only rationale imo for holding nominal bonds is really protection against prolonged deflation - and I just don't see that happening in the way that Japan has (and US/UK in previous eras frequently) experienced the disease
A blue day - just ... So you think bond market about to break then? Government bonds I can see, but why corporate? The latter will only break, surely, when everyone piles back into equities (no sign of that soon)? Until then they're the safest inflation beating return. And if you are prepared to lock in until the end and you choose a company not likely to go bust (eg Stobart?) then no problem? Of course if inflation flies up and interests rates with it you'd kick yourself but can't see that happening for a while myself. What's your property investment out of interest? And what % of your equities 10% is trading pot and what % jewels?
I've bored my bb-mates to tears on the GBO bb about the general markets recently - so, if you have insomnia, you could check out my waffle/drivel over there Basically, I am an Eyeore: bond bubble-->over-priced risk assets-->over-weight cash (well, 60 -70% property / 20% cash / 10% bonds / less than 10% equity - the bonds are a db pension, so cannot sell!) &, in response to what I see as inflated pricing of risk assets (&, in particular, an insane focus on dividend yield for large caps), my cunning plan is (i) cash/quick trading plus (ii) holding what I comically call my mid/micro cap "Jewels" (yes, cue laughter, that would include...SDL at £x.xx price tbd) Jolly (happy if the market quickly goes down 20%+)
Markets have caught cold at the moment. You sitting tight or selling up (what's your strategy generally with holdings during downturn periods?)? I have moved stop loss down on this to around 486 since this seems to be general markets movement.
good sign - but really clutching now
My enthusiasm for SDL is based on its low multiple(s) for a well placed, growing tech play. I have been trundling through the market (techs here and Nasdaq), and the EV/EBITDA multiple make little sense unless you don't believe SDL is a high growth tech - unless you see SDL as either (i) an altogether more pedestrian play that should be rated at EV/EBITDA of 7-9, say OR (ii) even worse, in decline (but that seems unlikely) I guess the analysts at Investec (have you seen the report that triggered this downturn?) are saying something like (i) - that the multiples for SDL should not be so high if growth is dependant on services (because less scalable) Have you any thoughts/views, Eco? Maybe your stop loss is the way to go after all..
Obviously some big II sellers still offloading. Not panicking yet, but I'm more or less back to square one. I think the IMS language stuff you quote is the attraction here - in particular the Asian growth potential.
Extract from IMS: "Most of the growth continued to come predominantly from language services, whilst technology revenues continue to be suppressed." & extract from Interims "Language Services(contributing £75.2million or 56% of group revenue and £14.2 million or 69% of PBTA) (2011: contributing £66.0 million or 59% of group revenue and £12.0 million or 64% of PBTA) Headline revenue grew impressively by 14% in the first half of 2012, with negligible currency effects. We experienced very strong new win momentum, particularly in the USA. New wins in the period included MAN Diesel, Maersk, Jyske Bank, Bazaarvoice, Samsung Mobile, Tourism Australia and Yamaha Motor Europe. We are pleased with the development of our Asian business where our client base grew significantly, and as a result we further expanded our infrastructure in Japan, China, Korea and Singapore to match increasing demand. We also expanded our centres in Poland and India which are driving efficiencies across the Language Services business. Our opportunity pipeline remains strong." Still reckon market has over-reacted to slowdown in relatively minor part of SDL's growth story - but DYOR and this is not investment advice
Are you feeling brave? Or are you twitching? I am still keen to top up at £4.50 or so - wish me luck...
Yes, good to see. I'm in that funny position of being pretty happy whether sp goes up or down in the short term, so very relaxed. Have a great w/e
Very chunky post-close buy well above the ask ...
That's a big one, well spotted! interesting to see what tomorrow brings
where did that come from? Mkt cap is only £400m. Tidy (even though not rns triggering)
I'm not in big here either so not sure top-slice (or even half slice) really produces much. I guess if and when it gets to 600 I'll decide whether to let the whole lot run or sell out. Agree re. management - hopefully that may now change given recent RNS. I dipped my toe into VLX today too - nice big gap on the charts there ... I think the Apple effect overdone as % of profits, but we'll see.
Well, I have grown fond of sdl over the past few weeks of looking/thinking. I like the relatively low multiples, the attractive and growing markets and (with less confidence) its management, so I will be holding part of my v modest 300 shares for a while but at +/-600p (if it bounces quickly) it might be a tempting to pocket a quick 10% gain on say 125 shares The trouble is i have so few shares it is all a bit marginal (I had hoped to load up at +/-£4.50)
Yes sleeping easier now. What do you reckon a good target is here? I'm hoping 600.