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FD
Thanks for raising the specsavers aspect, I was wondering why he was confusing Lime Street & Chatham with 25 Gresham Street, but there again nothing surprises with the posts he makes.
Being a generous person, I've wished he could be likened to a broken clock, which at least is right twice a day, way better than his record. Still at some point he will have his broken clock moment & when that happens he will possibly liken himself to Warren Buffet, or maybe even the man who taught Warren all he knows ?
Meanwhile he struggles to see that one can buy 57% more shares at 28p than at 44p.
Sad really.
Superpuffer
If you are as smart as you imply why were you buying so enthusiastically at 44p when you could have bought 57% more shares now at 28p ?
Sorry but I am a little confused...
@Superpuff (the magic dragon)
"28p share-great value. Happy days!"
Who are you kidding ?
Surely not those poor mortals who took notice of your ceaseless puffing in Jan/Feb this year as a strong buyer at 44p ??
How many more shares these people could have bought at 28p today rather than 44p then on your exhortations.
Is this, like ESKN, an example of your reverse Midas touch ?
As summer is now officially over didn't you mean an autumn roasting ?
Talking of roasting, your good self has been receiving some severe roastings on the ESKN site, I noticed, to such an extent that you had to resort to using your CV due to several posters there being less than complimentary to you.
Calm down dear, please.
All I want on this board (& I suspect many others want) is a sensible discourse as to why the SP has been trashed and what are its chances of recovery.
Taser
I think it is the close they gave them which is making it look much worse than it is, yesterday I averaged by buying some at 332.5, today I can only buy them at 325 so that is 7.5p or just over 2% down in reality.
Superpuffer
I note your regular morning salutations were a tad late today, was that because you were doing your deep breathing exercises before you could raise the normal puff ?
I ask because your regular puffs are becoming shorter by the day, nevertheless a welcome is still a welcome, which I accept with my usual polite grace.
It has traditionally been a high yielder & the family own a substantial % of the stock so they seem keen on decent dividend payouts, often giving a special divi as well every 2 or 3 years, not that I'm expecting a special any time soon though.
Oogle
I totally agree with you re BG trusts, they rode the wave but surf for them is no longer up, so they're beached, but I do think you are rather harsh om MRCH which, after all, has a totally different remit to BG whilst on the crest of the wave.
Merchants has always done what it says on the can, it invests mainly in the UK to give an above average yield (which it has for many years) and to protect capital, which over the last 10 years it has certainly done.
Horses for courses, I am in MRCH and happy to be so, their yield compounded has certainly beaten cash over this QE period which was so favourable for the BG surfers, but as Buffet said, when the tide goes out you see who is not wearing bathing costumes...
But on the other side of the coin another old listed pub in the Wolverhampton area suffered what has been reported as arson a day or two ago which in itself could indicate trade was not as good as super puffer is suggesting.
I prefer not to be a "Mystic Meg" with figures before they are announced but to analyse them when they have been announced.
Freedom
I agree, I've also topped up today but at a little higher than your price, sadly.
I do think that you are being much too harsh on the divi at 4%, the historic is 9.78% by the FT but if each quarterly divi is the same as the recently reduced 3rd interim which is now 2.25p it is not unreasonable to suppose the divi will be 9p for the year which at the current price is a shade over 8% yield.
Morningstar are also forecasting a reduced divi but they are suggesting 9.6p, given the cash JIM are making from their customers non interest bearing accounts they should still have a healthy year coming up with base rate over 5%.
Also worth bearing in mind that it is quite shrewd to show a divi cut/bit of pain when you are being looked at by the FCA.
Taser
I think you hit the nail on the head re illiquidity in the shares, irrespective of whether a company is doing well or not, funds which specialise in small/micro cap stocks need cash to fund redemptions.
You can bet there have been plenty of redemptions since the aim market peaked and there is little choice in what you can sell if WATR, say, is 350p compared to so many other "fallen angels" languishing at just a few pence per share.
The fund manager probably does not want to sell them but has to in order to keep cash liqidity at a reasonable level.
Closed end funds don't have this problem, of course, as the discount to NAV can take the strain.
I have been adding this week down here, as to me it is a tuckaway stock which has a niche market.
Always a chance of a bid too...
Traditionally the SP has always risen after divi payment presumably on reinvestment by some into more shares, but this rise is way more than divi reinvestment might implicate, either they dropped too far too fast (possible) or there is something brewing.
Hopefully, as a holder, the latter...
@shearclass
I agree with your thoughts, the one positive though is they appear to still have plenty of cash, and something we all know but is worth repeating, management do have serious skin in the game.
Being generous one could say that this delayed contracts issue is an unavoidable factor of working entirely for the government or government agencies, just thinking out loud...
I have to say that the statement "doomsters here want everyone to sell so that they can come back at a lower price" is very silly.
Anyone who thinks that the posters on LSE site have sufficient stock holdings to materially affect a stock price which, even at these glum levels, still makes for a market cap of £196 million must be seriously delusional.
The whole point of these boards is to discuss & chew the cud over stocks of mutual interest, but to believe stock prices of this size can be manipulated on here is frankly laughable.
Trent
Good afternoon to you too, all good your end I trust ?
Nothing much to report here, on fanrasy board land, the SP is still in the toilet, basically option money down at these levels.
Still have the same puff puff puffers at every opportunity or even when there is no opportunity, have you missed anything ?
Nah, nothing, nowt at all.