Member Info for Dartron

Be interesting to see where this is mid January, Remember Edison said it was cheap at 102 pence. You can access the research above in the research tab. Fwd PE of 5.6 and a 20% FCF yield (At 102p).

Think the update was better than adequate. Increase in AUM. Low net outflows. I think this is because they offer:

Continued flows into Fixed Income and ex-UK funds.

Fixed income should do well over the intermediate. Ex UK, depends on the S&P.

Cash only down by 2M. Gross profit and margin down a bit, but still made a profit. Not going to dig in this any further. Bit complicated with all the management fees etc. But you can see the market likes it. At 60p its still a 10% yield.

For a non executive director, who might only be on the periphery of the business 20k is fine.

Did you see that post on ADxxx where someone worked out for every share TIG buys how many it increases Kestrels holding. CBA to check the maths but he said every 15 shares the company buys in has the same effect on the %age held by Kestrel as Kestrel itself buying 4 shares.

NAV 20.14p, bringing forward the wind down vote, TBA.

In case you missed it.. See RNS

acquisition of the Champneys Beauty School, part of the Champneys Tring Spa Resort in Wigginton

At first I though the Sharecast article was poor, as it didnt really say that they would not make a bid. However I now see the official statement from Narayana. Also worth noting that there is a 29% holder here, so if they were not in agreement this would not have happened. Most people hold this stock as they think it will get taken out at some point. But for now we have to wait a bit longer.

In response to recent media speculation, Narayana Health confirms that it does not intend to make an offer for Spire. This is a statement to which Rule 2.8 of the Code applies.

CC&L Investment Management Ltd. is one of the largest independently owned investment management firms in Canada with $72 billion in assets under management. They employ quantative strategies, which are based on computer models and may be completely impersonal to the company. I think this is a Macro call, from reading their web site. These guys like O&G stocks to go short on, but the others probably have more obvious bad news (Dec, Energean). I dont really follow O&G, I have little sector knowledge. I just felt SQZ offered a decent recovery play, and I still do.

Incidentally, I heard Paull HIll talk about Trump introducing 25% tariff on Canada imports. That would include oil. How would that affect SQZ? I think it would lower oil prices?

Looks like GLG have smashed down Spire, so it now offers a decent entry at 225p. But remember it is only a rumour. I got burnt on the AMS takeover rumour, GLG also did a similar trick there. This one sounds a little more substantial, since they have named the purchaser.

TIG looking good. If the seller is cleared, then next week should get a good rise. 3rd green day on lower volume - I like that.

Ahh, I see GLG have fired up the trading algo.

Berenberg's top picks for 2025 are B&M, Card Factory, Curry's, Dunelm, JD Sports and Warpaint, stocks which the broker said offer growth, yield or value - or a combination of all three.

@Harry - The news is showing in the news tab on this site - take over.

GLG are also 0.5% short. They will need to start buying here to return the stock pronto.

Also we have on average £200k worth of buy back per day.

Lots to like here, might get a surge later this afternoon.

The CEO Justin Ash purchased after results at 236.5 in September, so this is still cheap. The stock was £2.50 before the short sell, so an offer should be well above that IO.

Hi LW, I too am happy to hold this. For one, it is not a stock I look at often. I did sell a few some time ago, but I sold on the way up - cant remember the details, but for similar reasons I was saying to Zed. This is a SetsQX stock - market makers. That makes it much harder to sell well on the way down.

You could follow Polar capital and Liontrust et al, if you want to get ahead of the curve. The CEO (O'shea) has a healthy stake here, so his interests are aligned with ours. I think PMI see themselves as acquirers, which is a slight concern. I do not want them to buy up more fund managers. I would rather they focus on this being an income stock rather than growth. I found this very interesting interview with Mike, which is worth a read. He has been a public company and a private company twice according to him. He does talk about publics markets being good for valuing the company, so since this is breaking down he might be up for a take private. I would guess he is close to wanting to retire, which I always factor in to these things.

https://www.squaremileresearch.com/Portals/0/Talking-With/Mike%20OShea/TalkingWith_MikeO'Shea.pdf

Sentiment is not looking good for 2025 from what Im hearing on financial media, so it might be another year of contraction here. I can handle that if we get 6p per anum and they just keep going. His last statement sets the tone for next week:

"Net flows for September were negative and we also saw a meaningful redemption from one of the UK focussed investment trusts we manage, bringing the total outflow for the quarter to £133 million. This is disappointing after the stronger inflows seen over the summer. It is to be hoped that once the full impact of the budget, particularly on capital gains and pensions, is known, then investor confidence will return."

SPI and AT. also breaking out today (shorts closing) Good day for me!!

AT. Has risen from the lows and is at the 50 day moving average now. The stock is up 6.8% on the week.

Yesterday we had a significant director purchase - Bill Shannon, Independent Chairman and Non-Executive Director, purchased 13,000 ordinary shares.

Further more there is a short of 0.81 to be bought back by GLG. I think this explains the buying recently.

Great time to get on board, still cheap according to Abrdn's Abby Glennie.

https://youtu.be/G45rtMJNmP4?t=1541

Chart for anyone who does not have trading view:

https://x.com/DartronTrading/status/1862195303895413238

Im on X if you want to chat more. https://x.com/DartronTrading

I wont clog up the board about Ecel. I mentioned it more about the tail winds it has rather than head winds. The trimming comment is to help you, that was a great achiever going from 50p. Try listening to some fund manger interviews, on the money mangement side. You should keep the holding at say 40% of pf as it increases, so you have cash to seed into something else for example.

Still short at 0.9% thats fairly large. See if it sells off now its gone ex dividend. The activist investors are right IMO. From what I gather Yougov have just ignored this request.

"Show me one index in the UK or the US that hasn't gone up if you held it for 10 years". - AIM

Interesting posts Zed. Hope it works out for you. One persons approach may not fit another's. I agree about getting a proper valuation for my holdings, but I do not wish to sit and wait for value to out. While you wait, there is risk and opportunity cost. I am amazed that out of the investment universe CARD is the basket to put a lot of your eggs in! When I said I bought back the other company.. it was Eurocel. (another window company!). Those guys have way more pricing power and diversity, and should benefit from house building if it happens. Stock has strong momentum, is doing buy backs, good contender to get taken private. I don't go big on anything. I have about 30 investments at any time in my pension (40 if I count the spread bet and ISA). This allows me more room for manoeuvring. I think Card will be ok, and echo LW's last post. You know what your doing, but try not to let those profits get away. Be more flexible to trimming your holding. Card is being shorted, by very smart people.