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In this whole farce there is only one thing I am sure of and that is the leadership of HUM are a bunch of clowns. From one slip up to the next. Board needs to take control and replace. The level of value destruction is criminal. Problem is really no serious institutional shareholders left. Total joke of a company.
the issue is that 0.61% of a big number is a big number. $10.7mm paid for such **** poor performance in 2023. they should receive no more than the cheapest fee of the cheapest tracker etfs ie circa ~0.01% as their team not only added zero value they actually lost us a lot of money relative to a tracker.
i cannot be in london on that date but i am hoping someone is going to properly roast nick train. he has become a multi-millionaire while trotting out excuses year after year for underperformance. if you ever listen to his update videos he literally talks to the listener as if they are in the special needs class in junior school.
"iven the growing number of activists looking at closed-end funds in the uk and us, i am hoping someone comes in to shake up the cozy relationship between lindsell train and frostrow capital. fees keep rolling in regardless of performance, which has been nothing short of appalling in these last few years. the strategy continues to fail, and while part of it is obviously due to the mandate of investing in uk companies/uk market, with the agm coming up in a few weeks, i hope some folks start to light a fire under the ****s of the board and pm team.
arby
As part of the US Debt Ceiling negotiations Sen. Manchin of WV has seemingly gotten the green light for the Mountain Valley Pipeline project. https://www.mountainvalleypipeline.info/
Any ideas if DEC might be a beneficiary of these recent development?
Bloomberg Quick Take Video.... https://twitter.com/bponsot/status/1447892627127476225?s=20
Pleased I had my stop losses in place which took me out of 50% of position at 117. Just bought back in at 1.00 which I am happy about although may well head lower.
Its unclear from the article and company press release if the journalists believe these are bad actors. For sure Rusty et al are 'oil men' and looking to make money on other peoples trash. As they say this side of the pond "where theres muck theres brass".
I have been following this story for a while and slowly accumulating. I think that DEC is probably the best place for these old wells to land and the type of scrutiny which holds the fires to the feet of operators in the oil and gas space is a good thing for investors. I for one want to see renewables replace these old last century relics but in the meantime at least to me it makes sense to not be adding new (fracked) wells and to be getting as much energy out of these old wells as we can to help bridge us to the future.
Currently Avon is my very worst performer in my SIPP down 52%. Always cut my losers but there was something about this one. Never understood why the company does not as a minimum dual list in the US and likely even better just relocate listing to NYSE or NASDAQ. London in 2021 is a poor market for a company like this likely this would provide a positive boost. I am looking at holding this long term as from what I see / hear in the US the company is very highly regarded and they are likely to see some decent growth in their govt contracts in the next few years. '
But interested to hear from folks who are cutting their losses and running.
I am sitting on some substantial gains on my BHP holdings. If the delisting goes ahead will I be a forced seller and have to close out my position. My broker does not support Aussie markets. I am sure that all those holdings in SIPPs will also be forced to sell??
Thanks
Arb
Not quite sure what Rusty is alluding to here in relation to "the challenging lending environment". Maybe its only in sub-investment grade debt in O&G companies but the last thing this environment can be called is challenging when it comes to financing...!
Commenting on the enlarged Credit Facility, CEO Rusty Hutson, Jr. said:
"I would like to express my gratitude to our banking group for their continued support of Diversified's ambitious growth vision. We are very pleased with the significant increase to our Credit Facility amidst a challenging lending environment, and believe it reflects the enlarged bank syndicate's affirmation of the quality and strong free cash generation of our legacy and recently acquired assets. We are thrilled to welcome several leading financial institutions to the family of world-class banks participating in our facility, and we look forward to further advancing our lending relationships as we capitalize on the many consolidation and growth opportunities in the market and that others present to us."
I have been reflecting on the SG results and given the huge bubble in almost every single collectables market, from comic books to collectable watches its amazing how Stamps and Coins seem to be the only items not to join the party. The fractional ownership model seems unlikely to pay off unless people see strong growth opportunities. They would have been better off piloting this on a platform like Rally rather than seeking to develop their own.
I continue to hold but now see this as a coin flip that they either get shut down or sold off at an even lower fire sale price and the holders of the common get pretty much wiped out...
One of the lessons I learnt from the MLP meltdown a few years back was just how impenetrable the sectors financial reporting was and that I should have taken this as a red flag. I can think of no other industry / sector whose financial reporting is harder to analyze. Lots of data and almost no real information. I listened into the call and my takeaways were that their cost of debt was higher than I imagined. I am sure the concern here is the debt load and Nat Gas being at the high of the channel which has been in place for the last decade. It might blast through the upper band here but equally it has not previously and may well start a long grind back down.
I also though the CEO talking about ESG in terms of adding diversity to the board and their local community work is kind of missing the point and disingenuous. Its the "E" people are concerned about and no reference was made to that.
I am long and adding but I have to say there are a number of red flags here which I am watching carefully.
One of the most interesting things I have seen in recent months is SG looking at enabling payment with Crypto. I read this in relation to the magenta stamp but has anyone seen any other mention of this in terms of mainstream purchases either in store or in auction. I think this would be a masterstroke given mature crypto owners understanding of unique attributes of alternative assets / property.
Sorry to reignite this "yawn" subject but anyone any experience of how this should be taxed if held in a US taxable brokerage account. I am a US tax resident and should have done more research on the tax aspect of holding this before buying but spent my time reviewing cash slows not tax international tax treaties. Any help much welcomed?
Principal is going in a very diversified set of assets. 80% in Equities with about half in the US, and the other half split between UK, China and Japan (nothing in EU other than VW). The other 20% mainly in crypto, with 25% in Bitcoin 25% in Eth and the other half sitting in various DeFi tokens with Polkadot being the largest of the other tokens. Lastly a very small residual amount left in Gold and Silver. I think I will move this to other hard assets. The area which intrigues me most is farmland which currently I hold via some US holdings such as LAND but I do see options for direct investment in yielding farms as interesting.
I was pretty bullish on the company but have gone cold after seeing just how hot almost every other part of the collectible markets has become. The fact that products like RallyRd and others which have helped boost the collectibles market have entirely overlooked stamps / coins is either a big opportunity or yet another miss for the stamp/coin community. I think likely the latter. I halved my position on one of the daily spikes and took out my principal and am only letting my profits now run on this one.
I think it is interesting that the professional grading and encapsulation of stamps has not caught on in the same way as other items (comics, cards etc) which make these much more fungible and tradeable as investible assets. Relevance is obviously a big part of it but coins seem to be in slightly better shape than stamps. But likely a lot of this could come down to marketing and the need for someone to be the accessible face of stamp collecting to energize the space. Without this unlikely to deliver the gains people wish for as the "hobby" is unlikely to catch fire again without the investment component leading the way.
What I find perplexing is how all things collectable (had assets): comic books, baseball cards, pokemon cards, etc etc are at crazy highs.
Folks who provide professional grading services like https://www.collectiblesgroup.com/ have huge backlogs and cannot hire staff fast enough and yet stamps/coins have really gone nowhere. I am bullish on the collectibles space and hope the contagion spreads but so far little sign unless I am missing something.