Member Info for Fishybilly

Home Reit -the short sellers report by Viceroy

What is TU please? I'm in the same place as Littlebobbybingo. If I buy a share, it goes down, if I sell a share, it goes up .

I bought AEWU and AIRE -nice yields but price down -and this idiot also bought Home Reit but didn't get out at the first sign of trouble.

Https://www.thetimes.co.uk/article/properties-sold-at-a-loss-as-home-reit-struggles-to-repair-finances-s3phhsth2 (paywall) but includes "Home Reit has sold more properties at a steep discount to their purchase price and has warned that it is still collecting only a fraction of rent owed.At a public auction last week, 14 more of Home Reit’s buildings were put up for sale, raising £8.98 million, 51 per cent below the sum the company had paid for them a few years earlier.

Home Reit confirmed that of the rent it had billed for October, only 18 per cent had been paid, despite it having evicted several tenants. October’s rent collection was an improvement, however, on the 3 per cent that Home Reit received in September."

I've done my dough again (JP Morgan Russia now JEMA , US Solar, GRIO, GABI I'm looking at you) -ah well time in the market etc

If you've got the app, you can order from the table. A round in Spoons can be under half the price of a nearby pub -I'm prepared to wait .

Per companies house Joseph Kahan, is an American with a correspondence address at Fairways House, George Street, Prestwich, Manchester, M25 9WS which is a two story office block . The website for Simpac is https://simpact.group/
Why did they get the gig?
I've written off my investment here. Live and learn

From the Times today "The issue goes to the heart of Home Reit’s business model, which looks to have leaked a ton of money, and the board’s hapless stewardship. It says that, via Alvarium, it sources properties from vendors. But it’s yet to explain why buying 34 in Stoke, say, involved them being flipped three times in a day via two special purpose vehicles, with a portfolio the vendor collated for £3.2 million sold to Home Reit for £7.3 million.
Home Reit says vendors “typically provide” tenants with “additional funding, usually representing 12 months of rent”. Also, that a “full refurbishment is carried out, which is paid for by the vendor”. But it also says it “acquires newly refurbished properties”. So which is it? Both Noble Tree and Big Help would deny the vendor has either done the work or left the funding to do it. Where has the money gone? A clue, perhaps: one vendor’s overseas pad."

I sometimes think that if it wasn't for bad luck, I'd have no luck at all . JRS -down 90% , Home REIT -suspended and down. Decided to buy one of Capital Gearing, Personal Assets , Ruffer and this one -ok all next to no yield , unlikely to get rich but unlikely to lose. Picked this one out of the four of course .

Can someone explain this from https://www.thisismoney.co.uk/money/markets/article-11597785/Home-REIT-investment-adviser-sold-Alvarium.html
"Embattled Home REIT owner reshuffles ownership of investment adviser amid short-seller controversy and share trading suspension
The owner of Home REIT’s has sold off the division responsible for managing the property investor's portfolio, distancing itself from the embattled housing provider ahead of a US public listing.
In a stock market statement, Home REIT said Alvarium had entered into an agreement to sell Home REIT Advisors Limited (AHRA) to a newly formed entity owned by its management team 'funded by way of a promissory note'.
The sale also includes terms allowing Alvarium to re-acquire AHRA in the future 'for a purchase price equal to the promissory note outstanding'.
I thought that Home Reit was owned by it's share holders (me included -drat) and not Alvarium . Who owned Home REIT Advisors Ltd? And why sell it

Cristina 78-it never fails to amaze me that a company comes up with fantastic results -and the share price drops -and vice versa . I guess that's why most of us can't make money day trading.

True that they are selling some pubs but they are about to open the Scribbling Mill at the White Rose Shopping Centre outside Leeds and the London and North Western at Birmingham New Street . The've just bought premises for one in Wetherby where they intend to spend £2m doing it up.
The one that gets me is why food comes with a drink. I quite often want a pint then time to consider what I want to eat that day , get the food then maybe have another one afterwards. I don't want a pint sitting on the table when I'm only half way through my first.

Pubs named within https://www.thesun.co.uk/money/19939462/wetherspoons-sells-off-thirty-two-pubs/

Kentb -I look at the share chat re CINE -when it was in the forties it was full of comments like "Just bought at 42p -would be rude not to". It's now down to 18p but still the comments are optimistic.
Noone but noone knows what will happen but whenever I've tried catching a falling knife, it has never ended well. No doubt there is someone out there who has made a fortune by buying falling stocks but I reckon that person is a rare bird.

It's like the myth that they buy beer just about to go out of date .Actual words
Martin said: “I’m very sorry about the situation that’s occurred with our pubs.
“I know that almost all our trade now has gone to supermarkets.“Not only our trade, but the trade from cafes, leisure centres and restaurants.
“So we have had lots of calls from supermarkets – Tesco alone want 20,000 people to join them.
“That’s half the number of people who work in our pubs.
“If I’m honest, I say you can get the furlough payments and stay at home.
“If you’re offered a job at a supermarket, many of you will want to do that.
“If you think it’s a good idea, do it. I can completely understand it.
“If you’ve worked for us before I promise you we will give you first preference if you want to come back.”
Where did he say "Go and work at Tescos"?

If that had been my party of six, five would have eaten at Spoons and NHS doctor would have had the cold shoulder for the rest of the week for snobbery.

I bought at 730 and took a loss last week at 599 . Cursed myself as 599 was the lowest point and watched them go back up to 630. At the moment I'm doing better than if I'd hung on -but in a year's time?

Is 675 a great buying opportunity or a point where you later think "I wish I'd cut my losses at that point"

Well it's a difference of opinion that makes a horse race.
Joke of a CEO . Why ? Is it because he was pro Brexit? As he puts it in the preliminary results for the 26 weeks ended 23.01.22 ""Draconian restrictions, which amount to a lockdown-by-stealth, are, of course, kryptonite for hospitality, travel, leisure and many other businesses. The company is confident of a strong future if restrictions are avoided. The readiness of the leaders of all the UK's main political parties to resort to lockdowns, and extreme restrictions, which were not contemplated in the UK's 2019 plans for pandemics, is the main threat to the future of the hospitality industry, but also to the economy."
In what way is the business badly run? What would you change ?
Making a loss while debt increases. If you aren't allowed to trade or have to trade under heavy restrictions then a loss is almost inevitable. Unless you have free cash, what else can debt do?
Food . Go to any Spoons and see how much they are serving . You might not like it and you might be right from a gourmet point of view but those who buy it know what to expect -and buy it they do.
I know that it has shown little football in the past (the England Denmark Euro 2020 match was permitted for example) - has it definitely been stated they will not show the 2022 world cup?
The results to 23 July 2022 will be very interesting as it cover a period when all restrictions in England had gone and part of the time that restrictions in the other UK companies are gone.

You are right . The share price was around 1500 before hints of trouble ahead surfaced . it plunged to 700 , rose and went down to about 770 in October 2020 then hit a high of 1400 in April 2021 . All this while there were total closures/restrictions. But now that the restrictions have gone in the four nations and other pubs are expensive , the price is falling . Why did the price rise rather than stay flat around the 750 mark?

Same experience as others -every Spoons is rammed but the share price is going down . Why?

Spoons in Garforth rammed midday in midweek and rammed in York on Saturday night .
Two visits isn't the whole country at all hours -but other reports I've seen elsewhere report the same -so why the decline in the price?