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This show was dire......a combination of timing, events, weather, covid and whatever else acted against it ever being a success......
The footfall throughout was almost non existent ...though one or two dealers did reasonably well, most did not.
I would guess that most dealers, especially those who paid for "status stands" did not even cover their costs.
It does not bode well for the future of shows such as Stampex, of which there are strong rumours that it will be a once a year event.
All very sad.......the dynamics of philately have changed, these International Shows will never be what they once were.
Here’s my feedback from the show as a comparison:
It wasn’t that busy, especially when compared to the opening Saturday
I only saw one family at the show today and that was Mr Delcampe’s
Chinese tourists have been greatly increased like pearls said, having spoken to them most are buying because they want a souvenir from a British tradition, most are buying FDCs of any Royal stamp and British cultural stamps like Harry Potter etc
Some dealers I’ve spoken have struggled at the show compared to shows before, but it is important to remember this is not organised by the PTS nor does it have anything to do with Stampex, it’s an FIP show with more international dealers and more international visitors
Busy day so far at the Exhibition and the SG stand seems to be busy enough. Clearly a lot of trade going on between the dealers which I realised in earlier Shows / Exhibitions was probably the main reason for holding them. Still, a lot of ordinary people strolling around including some families. Also, quite a number of Chinese visitors.
It does not look to me like anyone at the show is having a poor show, Carp - the dealers I have spoken to report decent business here? Will be having a chat with SG staff soon
"excellent purchase" LOL keeping telling your self that, 420 wasn't it? What's DARK today? Haven't you been calling HBR "hopeless" and didn't you tell us we'd never see lows beaten again at SGI?
Hahaha it's a kiss of death when you take a holding and encourage others buy..."strong buy"
Please let us know if you've got any more tips. Being short against them is profiltabe. Well it was with Debenhams anyway. ;)
Anyone thinking of going, be aware that the Exhibits section apparently closed at 12.00 today (Friday), and that the Exhibits are closed all day tomorrow (26th), so presumably only the dealers' stands to see now ?
Devon - you shoudl have bought DARK, an excellent purchase as was Harbour Energy.
As regards the exhibition, I am going to comment on it but I am going there on Saturday so you'll have to wait for my comments.
"Pearls usually goes and reports back great news but nothing this time....lol"
Aha, I think Pearls has given up on "share of the year" and is now fighting a rear guard action on DARK, another 25% loser....
I'm going to have to short Pearls next recommendation. Instant 25% profit! :)
My own guess is that the Show has suffered particularly from the postponement through Covid and the new date in February.
There is still some concern (perhaps mainly from the older folk like me, who form a lot of the more serious philatelists?) about Covid risks on transport, and in busy places like the show.
And London in February is not the best time for weather to plan a visit.....we have always had a week or ten days as tourists in London around the Show every time since 1970, but have given it a miss this time, we were even put off from a day trip from here in Shropshire with the bad weather and transport issues.
Finally, the publicity this time seems to have been very limited, in previous times there seems to have been an atmosphere of expectation generated with Royal Mail (and other Posta Authorities) issuing special stamps and publications, and articles in the philatelic and general press.
Not quite a typical day though!
Feedback from dealers at the Show is that it has been in the main...dire.
Pearls usually goes and reports back great news but nothing this time....lol
So we've reached the 2,2 of my 1,8-2,2 prediction. Given the state of the world, still best avoided.
Next question: how long to 1,8p?
Trade sale @ 2.0537 today. Not looking any better.
Trade sale @ 2.11 this morning. Not looking good.
LOL, no I'm just willing to do research. The Glassdoor comments I've mentioned before.
It sound like you are aware of some of the views of past employees. Generally very negative from what I remember.
LOL "explains my comments" well it would have saved you a lot of money. Like Debenhams. Did I also work there? :)
Sounds to me like you're ex SGI staff, Devon. It would explain a lot of your comments.
Just don't ask them about Glassdoor, terrible comments about working at SGI on the site.
I see DTY is down nearly 10% today, looks like the market has noticed the digital strategy has more holes than swiss cheese...SGI down 10% next?
If the staff had any idea of how to move the share price shouldn't they be buying? Bt no one is buying, it's just been sellers all week.
Still it could be worse, they could be way down on DARK ;)
Is on from tomorrow until 28th February at the Business Design Centre in London.
An excellent opportunity to meet up with SG staff and ask them what they're going to do to increase the share price!
Devon, control yourself when you meet them.
If memory serves me well, they injected DTY & SGI assets into Castelnau Group (CGL), does this apparent concern they are going to /may breach the convenants on the B class debt instrument suggest the overall digital strategy isn't performing? From memory again, there was a larger RE positioning of DTY equity, presumably to offset the inherent risks is the burial game, falling expenditure, demographics . Now they are concerned about forward going business performance? There was me thinking Castelnau was going to play a part in offsetting that?
Another red flag for SGI?
Castelnau's performance has been less than stella YTD return 1.92%, with trading in the shares scant, barely enough to justify a listing. Besides the obvious benefits of fees and uploading.
Trading Update & Consent solicitation period - 10:30:06 17 Feb 2022 - DTY News article | London Stock Exchange
For the year ended 31 December 2021, the Board expects underlying operating profit to be c.£54.7 million (2020 restated(1): £60.3 million).
Whilst the Group's financial performance has delivered headroom in relation to financial covenants throughout the last 12 months, given the distorting impact of the pandemic on the timing of deaths, there remains significant uncertainty around the UK death rate in the near term. Therefore, the Board has taken the prudent decision to seek a temporary waiver of the above mentioned financial covenant on a precautionary basis in relation to Dignity Finance's debt obligations.
- more pressure on SGI to perform! If the rest of portfolio it having a tough time, is there's a risk they'll cut their loses here?
I year performance of SGI -22.44%
I don't think I've seen a buy in weeks. No one wants "share of the year...."
SGI faces "stiff" competition as OnlyFans discuss issuing their own NFT's....NSFW NFT's LOL
My knowledge of NFT's is very elementary, but I noticed a line in the Reuters report "We realized that a lot of it is just money chasing money."
Putting it simply, when we invest in shares, we obviously hope that the value will increase over time and that, in the meantime, we may also secure an income as dividends. Our decision to invest is made after our research on the company its management and its business, now and future prospects, with the share value supported by the net assets and , usually, a fluid market giving regular valuations. Even buying an actual rare stamp or coin gives a knowledgeable investor or collector a tangible object which he can enjoy, and which should retain a basic value, supported by catalogues, dealers' price lists or~auction results.
OTOH, there is no open market for NFT's, or the support of underlieing assets or income. It seems that the best an investor in an NFT might hope for is that someone (equally naive or gullible?) is going to appear to pay him more for his second-hand share? Definitely money chasing money ?
I agree Carpe, both about the uncertainty and impact of extraordinary injections of public capital into private assets. A bubble that could suck in the unwary. I remember 1999/2000!
It would be very unfortunate to find you'd coughed up, say 8 million, to ride the deflated bubble and then find your principal assets is worth much less than you bought if for. It's must surely stretch the credibility of the parent owner and make it's shareholders ask "why are you wasting time on this tiny back water company?" - a moment of pain for SGI's retail holders.
You have hit the nail on the head Devon. Pearly would argue its not about numbers of fractions sold, but the associated publicity, however they have only managed to sell fractions to 1400 collectors/investors out of a global collecting population of 50 million. That would indicate little appetite for fractions, plus it puts off the very wealthy from owning such things. The NFT marketplace will be cited in a decade as a bubble which occurs when there are gigantic disbursements of cash by central governments. Somehow much of it finds its way into nonsense.
NFT marketplace shuts, citing 'rampant' fakes, plagiarism problem
LONDON, Feb 11 (Reuters) - The platform which sold an NFT of Jack Dorsey's first tweet for $2.9 million has halted transactions because people were selling tokens of content that did not belong to them, its founder said, calling this a "fundamental problem" in the fast-growing digital assets market.
https://www.reuters.com/business/finance/nft-marketplace-shuts-citing-rampant-fakes-plagiarism-problem-2022-02-11/
- I think serious consideration needs to be given to the impact on the original assets. Ol' Magenta was falling value before this, could the whole process of "fractions" make it fall deeper and faster? Has exclusive is it now? What's the impact on SGI's if that's the case? More write downs? If this bubble burst faster and harder, what for poor SGI then?
No problem Huhu. There's a large number of red flags with SGI. It's better to be aware of them.
I think you, and you friends, are very brave for having so much money invested in something so speculative. Red flags shouldn't stop anyone investing, but ignoring them can lead to a loss of capital.
You can now expect a bullish post from Pearls saying this will double or treble in value LOL