Member Info for CaneToad

One more comment regarding the 'incredible 10% dividend' here is that with a 10% bid/ask spread (Bid: 180/Ask: 200), *you can expect to take a full year* to earn back your capital loss... Why is anybody going to be tempted by that? It's a ridiculous situation.

Looks like bigger punters are coming in - Brilliant run-up so far.

"It’s now yielding 10%! Even if we all agree that the directors are selfish with terrible PR, this isn’t looking expensive."

I absolutely agree that it is very cheap and that it has an attractive dividend. The problem is that 'on-the-nose' shares like this, with 'on-the-nose' directors, can drift much lower on investor sentiment alone. With such illiquidity (wide bid/ask spread) and blatant disregard for other investors, I'm not yet attracted to buying any more as the capital loss in just a few bad days could wipe out any gain from the dividend.

I might be attracted back if I see them investing a big chunk of the profits into something tangible, that allows a reliable NAV re-evaluation, rather than gifting themselves the money straight out of my pocket as they've done in the past. A reasonable step would be for them to get some broker coverage, but it seems they just don't care about attracting new investors at the moment - why would they, when they're so busy milking the existing ones for everything they're worth?

A freight train maybe? That IC article is clueless. This is a problem at the biggest operator, but half of the SOHO operators have been deemed 'non-compliant' by the regulator and I expect it's similar at CSH. The shi*t has only started to hit the fan, with problems now gradually surfacing and operators facing financial problems which are reminiscent of HOME.

If I remember correctly, the valuer will write down NAV losses by 34.5% for each operator that leaves them in the lurch. I'm watching to see how it develops first. Good companies do not delay accounts by 6m - it's a clear sign of stress.

June 2018: 'Heller junior was paid just under £900,000 last year – nearly 10 per cent of the firm’s entire £11 million stock market value. If Apple boss Tim Cook was paid the same proportion of the US company’s value, he would pocket about $90 billion a year.

At Bisichi’s annual meeting on Wednesday, investors accounting for nearly 30 per cent of the shares voted against the pay report.'

Why would be now be different? I fume at how these crooks have nicked my money, but nothing was done last time and I very much doubt anything will happen this time.

BUYER BEWARE, there are rampers here, that I suspect are not completely independent...

"I can see a mass independent shareholder revolt coming to Bisichi."

Don't expect much action there... It's going to be like a far t in the wind.

As I tried to explain some time back, yes, the company makes a lot of money, but investors will not see any of it and that's all that matters. Investors are just a pain for this company as the Directors run it as a personal piggy bank.

Momentum has definitely improved for this share, with positive 1m Relative Strength. That alone should see some technical traders coming in soon.

HMI is basically a family-sized business, run out of a shed. Perhaps worth a half million or so and should not be a listed company.

"Dundas- next year
Disko - next year"

That has been the position here for as long as I can remember... The rating in Stockopedia: 'Sucker Stock' says it all.

Regarding the comments on the 'rental income increasing': that will not be the case if Auckland encounters financial problems - which is now a distinct possibility, given that they are 6m behind in submitting their financial results.

"The regulator added that Auckland has not demonstrated that it is appropriately managing actual or potential conflicts of interest, while failing to submit its statutory accounts, which are now more than six months overdue. "

I am also a bit annoyed about the timing of the announcement. SOHO maneged to get theirs out by 8am. Releasing it at the time they did is usually done by companies wishing to conceal something. In my experience, it usually results in another drop the following day.

@wishIhadnt: Rather than give advice to other investors (which is illegal), perhaps you should offer something useful, such as the nature of the relationship between Civitas and the CIC?

https://www.investmentweek.co.uk/news/4112517/civitas-reits-largest-tenant-enforcement-action-regulator

Excerpt:
=======
According to Companies House, Auckland's principal shareholder is The Social Housing Family CIC - the community interest company set up by Civitas, of which Auckland became the first member.

Civitas' website states that the CIC is "operationally independent" with a stated aim to "enable housing associations holding Civitas leases to increase skills and experience and to provide funding if required to promote enhanced performance".
=======

I am concerned that Auckland are responsible for 15.9% of the rent roll and the opacity of their relationship with Civitas.

"Very few American companies pay a meaningful dividend."

Have you heard of a BDC? Almost all of those pay north of 10%.

"It will be fun to see the reaction when the results are published. What is the lowest PE ratio anyone has ever come across?"

Probably nothing at all... Low PE means nothing... have a listen to the Leter Lynch story about Kaiser. The only cases of ultra low PEs I've come across in the London markets have all ended in the bankruptcy or stagnating share prices.

It remains to be seen whether or not any of the cash will ever flow back to investors.

There was a time that Ince was the largest listed law firm, so I think it should be positive for Knights in terms of clients. Anyway, the technicals for this stock have improved substantially over the past couple of weeks. Maybe it's finally on the rise again? there's no corresponding increase in volume, but hey, maybe the selling has at least slowed for a while.

Solid momentum building on top of potential buyout interest with a potential 20-30% uplift if it goes ahead? And 10% divi from a solid company anyway if it doesn't happen. Nice situation.

There could be some value in the shipping work - I just hope that DB doesn't run up more debt to salvage that lost ship.

It's a dud strategy; he's operating on pure *hope*:

"It is to be hoped that the Government will ensure that the fiscal terms applying in the UK North Sea make the UK competitive for future energy investment."

Labour are going to screw him and the investors.