The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
If you can get me an entry level stainless steel Daytona at Michael Spiers for RRP then I'll happily give you a £5k finders fee. I love my watches so I have some knowledge on the subject. Wouldn't profess to be an expert but I know enough to say there's still a huge demand for Rolex. As long as WOSG have a distribution agreement in place with Rolex this is massively oversold. At this SP WOSG is a takeover target.
You asked and that's my opinion.
404x
Rolex, Omega and the like don't have a direct consumer sales channel they use retailers. In the UK WOSG front both Omega and Rolex stores. We've recently had a massive Omega store open here in Liverpool One shopping centre. It's owned and run by WOSG
Waiting lists for lots of Rolex models (Daytonas, GMt's Subs etc) are still huge and there's people on the waiting lists been there for years. As soon as a watch comes into the store it's sold the same day after a few phone calls. Im on the list at 3 different stores for models and I haven't had a call in over 12 months. Rolex have recently ramped up production and they still can't satisfy demand. Dont believe me? Have a look on Chrono24 or other used watch websites to see how much the above second hand models sell for ABOVE the rrp. People pay thousands over RRP just to get their hands on one.
December was a washout across the UK for retail not just WOSG the data this morning confirmed it. Yesterday's sell off was a massive over reaction.
IMHO
I wouldn't be buying in today. all I'm seeing is red across the board and negative news across all fronts. Can't see the USA being any different when they open.
Just my honest opinion.
Thanks Smooth, I think you're right this has got a long way to go. I just had too much skin in the game to risk losing all that profit tomorrow morning if the results don't quite match up to market expectations.
Good luck mate.
Holden, great call for 95p by 4pm you were spot on.
Now we've closed I just want to wish you all the very best of luck for tomorrow. Jumbo, Smooth and all the other regular posters I really hope they smash the results and you get your just rewards. Amazing recovery today after yesterday. So much so I sold just before the close for 95.59p. I'd been in for the past few months since the low 50's with a large holding (large for me anyway) of well over 100,000 shares so I've bailed out and took my largest profit from a single trade to date. For me it was just too much of a risk holding going into tomorrow. Anyway, I'll be keeping an eye on results and as I say I sincerely hope you all have a great day tomorrow and shorters burn!
Cheers guys
It's far from being already priced in this has got a long way to run yet. If you disagree and you're happy with your profit then cash out but I think you'll be kicking yourself this time next week. Good luck whatever you decide.