Member Info for devonplay

"Provided there not intent on blocking the vote to buy it
out of administration !"
That was the first thing that jumped to my mind, a la Debenhams, if they are a major stakeholder they might be able to put a deal together first and work with AA post Admin. I dounbt if they want to be long term providers of capital to a mine that requires billions, they might be able to manage the equivilent of "flipping' it out of Admin.

You have to admire the irony and absurdity of it..
All this time ****ging off short hedge funds, but now seeing a hedge fund as the last great hope....
This is the stuff that keeps me interested as a private shareholder.
The winning is good, but the insight into the human psyche is even more valuable.
Any concern that AA are sharks, might evaporate quickly :)

"AA would let SXX go into administration"
Why? It could just end up in a "pre-pack sale", there's always that risk.

You can often form an opinion by looking at the Results of General Meetings. If there's a vey large % of all available shares cast ,as votes ,then it's a very high percentage of institutional investors, private investors just don't vote that often.

"Simply Wall Street"
I'd take them with a pinch of salt, but I haven't been able to find a published register except theres.
Anyone know of one?

hedge funds own 5.1% of Sirius Minerals.
If it is, then they'll get 75% easily I would guess.

Is this correct? Source: Yahoo Finance/Simple Wall Street october 2019

Baltic Dry Continues Epic Plunge As IMF Slashes Global GDP Forecast
https://www.zerohedge.com/markets/baltic-dry-continues-epic-plunge-imf-slashes-global-gdp-forecast
Don't think I'd be buying AA at the moment...

"There won't be a meeting."
There might be a creditor's meeting end of March....

Dr Beatrice Lafon appointed to parent company board

https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3690371&lang=en-GB&companycode=uk-deb&v=

"Facing insolvency the 75% vote is waived I believe."
That's my understanding, it makes sense if you think about. As a company moves closer to insolvency the Director's responsibilities move towards protecting crediors and avoiding knowling trading an insolvent company.
In those circumstances, they can use their judgment to avoid the posibilty that shareholders push them into not protecting creditors and trading with being solvent.
As the last indication from the company suggested cash would be exhausted by 31st March and you are required to give 28 days notice of calling an EGM, you can see why the rights can be/might be waived by the Directors.
They will also know that personal responsibility shifts in the last days of a company's existence. There key duty is to maximise the potential to pay back creditors and avoid taking on the personal risk of trading in an insolvent manner.
Holding out for a "no vote" may not be possible if my understanding of the situations is correct of the legislation and cash burn. Organising an EGM as the Administrator pulls into the car park ain't going to protector creditors....

"opinion is largely mis-placed given that a respected ftse100 company in AAL have now themselves indicated that by large their is no issue?"
If you can get the security of a knock down price....

I went short on the equity of Debenhams, then put the proceeds in the WiseAlpha Debenham bond notes.
I should be getting another interest payment in the next few days. Yield 12%, Yield to Maturity, just over 50%.

I believe at the moment WiseAlpha have a couple of resource bonds available on the site, oilers, miners and green energy.
You can participate in a bond note for £100 (or Euros) and it gives a perspective on the way buyers, usually banks at c£100k/$200k per tranche, see commercial businesses.

Unit 3, 32 lesson might be useful for some..
"How do investors assess the quality of a company and its commercial viability? What industry dynamics should be considered?"
https://learn.wisealpha.com/courses/unit-3
I hold a numer of corporate bond notes via the platform.

IBAB it is really worth understanding the bond market. I quoted James Carville on this board a while ago who said "if there was re-incarnation I'd like to come back as the bond market - you can intimidate everybody" and its true, the price of a company's bonds tell you more about it's prospects than the SP - though to be fair the SP is also a very good guide - if only more would take note!
If you want to learn more I recommend this as a starter
https://www.pimco.co.uk/en-gb/resources/education/everything-you-need-to-know-about-bonds/

have fun!!

Free Bond Acadamy: https://learn.wisealpha.com/

91 modules and they are all free.

No trading update so far in January, but the income payment is seemingly being made on the debt.
I expect to have funds in the next few days.

Federal Reserve officials are considering lending cash directly to hedge funds through clearinghouses to ease stress in the repo market. But that could be a tough sell for policy makers.
WSJ reporting

"I chanced circa 1% on this, and sold the following day."
I sometimes push the boat out and go 2% ...maybe build upto 5% over a few years, once they've grown the eps and div on a regular basis. :)
Unless it's debt, then I run lots of positions, just over 55 last time I bothered to count..I working that towards 60 high yielders.
More than happy at 12% a year, that'll make you rich before you know if you can compound it and don't loose capital along the way.
It's not the winning that matters, but avoiding the losers.

"He sat and watched and waited, and as far as I'm aware at least bought in at approx 4 and is either still holding or sold at 5.5 ish."
And I bet he didn't "go all in"....who does.