Member Info for chpmpg

Interestingly a 20% discount equal to writing down the holding in Lindsell train Limited to zero. Think the rest of the assets could be readily sold on liquidation. Its a very concentrated portfolio where too many of the holdings have had a pretty poor last five years. But might be getting time to jump on. Diageo and co might have hit the bottom now.

Holdings (in Jan):

Lindsell Train Limited 19.8

WS Lindsell Train North American Eq Acc 13.4

London Stock Exchange Group PLC 12.1

Nintendo Co Ltd 11.6

RELX PLC 6.0

Unilever PLC 5.6

Diageo PLC 4.6

AG Barr PLC 4.3

Mondelez International Inc Class A 3.4

Thermo Fisher Scientific Inc 3.3

I think 1/3 of the trust being the LT business itself and one of it's funds is what puts most off... Otherwise I see your logic.

I'm curious to know what it is that Relx think they have that is so valuable now.

Sure, 10-15-20 years ago having all the worlds legal case law and articles scanned, catalogued and searchable would have been a major plus. But they don't own the rights to the underlying information.. only their own system of data storage / data base / front end search - set up? That surely must be worth less and less as time goes on..?

Courts are publishing electronically like everyone else now. Must not be expensive to scrape this publicly available digital info anymore? Sure, to get it all in some useable form might take some effort... but the moat for Relx must be getting shallower by the day?

Thoughts?

I wasn't following the sale too closely. I didn't realise there would be a UK share listing... was expecting to see dollars and US listing. I should really read the info next time.

Curious. Those are very specific predictions? 38% fall for wizz, 27 for Easyjet and 25 for Ryanair?

From current SP? So you expect around £6.50 for Wizz? A crude P/E around 4?

Interested to know why? The bad news seems to be out there and heavily factored in. The engine problems have been dire but are known and slowly getting sorted... Company seems profitable still. So what are you expecting to come out that would cause a further 40% drop from here?

Still curious though. I agree that it looks like the market does not believe a deal would happen. But the very fact there was an all cash offer suggests at least one knowledgeable company considers the value here is compelling. Not sure why that hasn't raised more interest...