Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Hi TLWilliams,
Thanks & you're welcome. That's why many of are are here. To continue learning (me too!), share in discussions & try to help others as we can.
Genuinely hope that you & all of us see higher targets of at least over 200 in a fairly reasonable time. IMO, certainly doable once more uncertainty has been clarified, especially about dividends over a longer-term & the Liberty Deal. But being realistic, if we got there by early 2020, I'd probably take that. - Regards.
That is: "overall it adds a useful tool for professionals". - Cheers.
TLWilliams,
Some large funds hold both long & short positions in same stocks. They add a lower level of shorts on any good rise to hedge their far bigger longs. Occasionally this is preferred method for professionals rather than selling off their longs on mixed data, rumours of sharp divi-cuts, concerns over rising debt, etc.
If major fears later subside, they'll close shorts, further boosting SP.
Shorting has pros & cons, but overall it adds a useful tool for pros. As you'll appreciate, individual shorters via SBs have no effect on SPs whatsoever. - GL.
Will mention for transparency's sake that I just closed 1 VOD long today at 145.72 for useful 12+ pts. Buy as posted here was 133.48.
Reasons: booking leveraged gains never a bad idea. Especially after recent good rise since 131.36 lows on 4th March & volume recently getting lower.
I’ve 5 leveraged positions left here & shares at 175+ & 198+. No doubt in my mind that this will be much higher again. I've enough exposure left for better recovery & collecting plenty more yield until then. Will re-add if retrace seen. - GLA.
Will be interesting to see if they increase shorts later & what affect it has on SP. Certainly huge positions as confirmed by short tracker. - GLA.
https://www.shorttracker.co.uk/company/GB00BH4HKS39/
Longish,
Thanks. Yes, former CEO sold around those levels. I'm just extremely cautious the higher we go, mindful of a recent recovery to a short-lived 170+ by December, followed by weeks are hard selling down to 131+.
No advice intended to others, but it's why I shall book some profits well before my higher-priced buys. That way, heads or tails, one still wins something for having taken at least some profit off the table. - GL.
Before today resistance going back a few weeks was 142+. Today's 143.56 close breaks that. Also VG volume again. Over 145m v average of just over 73m. Looks good. However, with holding longs from 133.48 to well over 200 (shares at 175 & 198), I shall look to book some gains at some point... just in case. - GLA.
Bar a recent VOD long at 133.44 posted here days ago, all my other VOD positions are from 175+ & higher. Including shares. If we see 180+, I'm reducing even some shares at gain. No question of it. The prospect of seeing well over 200 later won't stop me. I really want to build a far bigger cash position before the next GE... if I get the chance. - GL.
Gejgaboy,
No meaningful impact. It isn't a standard share buyback of existing shares. VOD often issues mandatory convertible bonds to raise funds without raising banking debt. These have a maturity date, after which when they become shares in the open market. To avoid dilution, VOD does a buyback. These particular bonds were issued in 2016.
Soon VOD will be issuing yet more convertible bonds with maturity dates in March 2021 & 2022 to raise funds for the $22 billion Liberty Deal. Note that, VOD has a long history of offering bonds to raise cash. - GL. Catch all later.
Info,
You're welcome. That's what the best BBs are partly for: to help others when we can. Those UTs at 4.35 tend to confuse almost everyone when new to this game. Moreover, all of us are learning all of the time to some degree. Perhaps that process never stops in this game. - Cheers.
Hi Info,
If it was 4.35 pm, it's always an uncrossing trade. Meaningless. UTs always a mix of buys & sells which go into a 5 minutes auction after market hours as orders are matched up. Sometimes they're stated as buys, other times as sells. But they're always a mix of both. - GL.
Longish,
I agree. Much of the FTSE down. Brexit & tonight's vote, which could be very close, also a factor. My point to others stands. We need to look beyond early intraday SP moves to have a better picture of where we're going longer-term, mindful that we saw resistance at circa 142+ in February. Until we break past that level, caution is advised. - GL.
Nothing goes up or down in a straight line for long. IAs you know, even TA isn't a 100% reliable science. There'll also be traders profit-taking from those who bought recently. Besides which, VOD was down intraday a while yesterday. Little point assuming anything just now with just 32 mins since markets opened. - GLA.
Dan,
Indeed thanks to Longish.
Re your 22.21 post: Indeed, that tends to be so. Especially if we see successive falls on much lower volume compared to the daily average. Low volume during a fall in SP suggests that the end of the sell-off may be very near & that most holders are staying put. It's usually a fairly bullish signal. - GL.
Over 196M behind today's rise to close 138.96, according to Investing.com. Daily average for VOD about 68M. That suggests some major buying going on. - GLA.
"Jack, I am intrigued by your deleted post, When did you post it,& what was it about?"
==============================================
Dan,
Sorry for delay as overlooked at the time due to other distractions & trades. Basically, it was about why markets often get spooked about high debt & why certain highly successful investors who've written books on investing, always avoid stocks with very high debt. Hence my query to LSE.
However, I replicated the gist of my deleted comment in another post soon after early on Friday morning, including naming said investors. - GL.
Dan,
I agree. In the context of markets & much of life, only hindsight is ever easy. So keeping an open mind & having some doubt seems a healthy thing.
But a great song by Cohen, as is Hallelujah, et al. I know his music very well. I have all 14 Cohen studio albums. He wrote timeless songs until the very end, dying aged 82 in 2016. I still miss waiting for his new releases, as I do with Lou Reed. Both extraordinary talents & I suspect we'll never see their like again.
I think this update from VOD yesterday is helping SP buck most of today's falls across the FTSE. Hope we can keep them. - GL.
https://5g.co.uk/vodafone/
Longish,
Indeed. Another classic. But now that I've "Been Down So Long", I just want to "Break on Through (to the other side)".
If you love The Doors, try to get the 40th Anniversary remasters done by Bruce Botnick & the remaining Doors. Highly recommended. Awesome & an improvement even on the original vinyls! - GL.
Dan,
I can't imagine who "desperate Dan" could be? ;o) But I can certainly relate to the "desperate" bit. Especially when we hit 131.36 a few days ago. The darker music of Leonard Cohen & Joy Division barely did it justice. It felt more like that song by the brilliant The Doors, "The End".
Indeed, we can only hope a bottom was reached & the only way is up, be it with inevitable blips. I'd only be seriously concerned if we were still in the low 130s just before May's results. Then anything unexpectedly bad could send us well below 130. So the higher we are by next results, the bigger the cushion for any further disappointments. - GL.
Richard,
Fair enough points re AIM. But all low-volume AIM stocks are more prone to various forms of manipulation & that works in BOTH directions. All stocks, including FTSE blue chip, occasionally get overbought & oversold on fickle sentiment. But, IMO, anything that detracts from maintaining overall balance across markets seems a negative.
How many bought stocks like this at circa 170+ back in 2017 & held on because others convinced them it was going to go much higher? For those trapped near those tops, hedging via shorts may have allowed them to avoid taking horrendous losses.
I'd be more concerned about high-frequency algorithms which can exacerbate volatility. Most trades today are "algo" driven with minimal human interaction. Including with AIM stocks. - GL.