Member Info for Jatw

Really very good.
Sales up, margin up.
Three small acquisitions.....I think there will be many up for sale as owners retire or look to combine with others having gone through the pandemic on their own

The trading update should confirm strong Covid catch up and more cost controls (closure of smaller practices)....offset by additional cost pressures.
CVSG has survived and is on a good course, tomorrow will help consolidate recent gains. I can see further progress in the SP but maybe 2021 rather than now.

I would take Mng and LGEN over ASL all the time.
The additional heft of the insurance balance sheet should make them less volatile.

I have all three, But only have my demutualisation holding in ASL and have not added.

I find it hard to separate MNG and LGEN, they are both good value high yield stocks with clear strategies for their businesses. Hence I am glad to add to both regularly.

Has to be good for green power initiatives and cos like SMS?

Pru is barely British these days, it is now reporting and paying in USD. BOD is so diverse it is not British either.
Asia continues to have a lot of country players in insurance....lots of Western companies have subscale JVs and most banks have an investments r asset management arm. There will be plenty of consolidation available before the mega mergers try to navigate the regulators....
A big national Chinese player would have a shot at Pru but AIA probably would not due to too many countries where they are both in the top 5.

My guess is Pru and others will do bolt on deals And some divestments where they are subscale. The big players will leave each other alone for many years to come.

According to the targets for 2020 there are still some important events due this year

Surufatinib start of the rolling submission of the US NDA.
Savolitinib strategy (in particular savoir RCC has been flagged as a development)

And not in HCMs control the approval of the surufatinib NDA for ep -NETs

Three weeks, three announcements would be nice.

We all seem to have forgotten that the story of the last few years is AZ building a set of blockbuster new drugs....these are delivering in ?? s.

AZ was not a major vaccine player and it may become one now for free (govt funded).

The oncology portfolio is the core value driver.....this is now majorly oversold.

Well done T42...And I agree with much of your analysis.....I think this will head upwards as the targets are landed.......management has a well funded business to run. It was doing better itself and has benefitted from changing consumer behaviours in the pandemic....many of those habits will remain. I think there is limited mileage in trying to grow brands that have been languishing without innovation in their delivery and extending usage.
Also the cross selling to consumers is limited given they are B2B not D2C.....they can link sales and promotions within their distribution chain but that usually costs money.....again innovation will be key..to get the retailers to stock the product..

Possible....if they get approved by 31/12/20....CH said that was a prerequisite under current NRDL processes.

The WHO was only expecting 50% effective from initial vaccines.....70% is historically v good.

90%+ was unheard of.....but we all want the best we can get.

Given the logistical difficulties of the Pfizer biontech and lack of Moderna version this is going to be the main UK jab and for much of the world given the price differential.

Apparently preemption rights are back on from 1 December where >20% of shares are being offered.
Will this apply to VLG? They need to clarify.

There is an article on the FT, the gist is the IVC business was marketed at an enterprise value of €3bn Last year and nothing has changed so how can this be worth £10bn....it implied this float is an overpriced private equity offering to avoid.
That said it makes CVSG something of a Relative bargain.

Likely to be a trading update with the AGM on Thursday.
Hopefully a bit more upbeat...the last few have been Ambiguously cautious and spooked the market....they should have a better idea of the way forward

The recovery has been welcome........another factor appears to be HK which I thought was going to explode again when the opposition politicians resigned....but the basic law now seems entrenched and the population suppressed.
It will be interesting to see how Pru goes about the Jackson disposal. While it would be good to get a buyer for the whole and make a clean exit that may not happen......they have indicated a series of partial sales and perhaps a distribution of shares to Pru shareholders (not keen on that route). No update expected until March and the FY results.
I then wonder how they will use the proceeds? Reduce debt? Buy African businesses? Buy out CITIC?

Pre-Covid, the expectation was for increasing dividends based on the capital generation plan and global expansion of asset management activities. Management has reiterated the capital plan, but it would be understandable if it were under some stress at the moment.
I would expect management to try to keep the dividend, but not increase it.
There are no scheduled updates before the YE results in mid March.
The share price has for some reason been more volatile than most to UK macro economic developments....so if you think the UK economics are looking up this could be a buy, if brexit goes badly or unemployment rises more than expected this could suffer disproportionately.

It is a buy for me into the low 200s. Beyond that we have to see how 2021 shapes up.

Raising 40% of your market value in one day is impressive.....this perhaps explains the gyrations in the Sp this week.

Cash is king....and the cash strapped have need of money.....trust the BOD to spend it wisely and not overpay to give the Shareholders improved returns......

The company should now be worth 130m and be more resilient if a little less exciting.
I expect them to land the acquisitions in Q1 and have a major trading update with the H1 results next year.
Still a buy for me

Glad to note today’s relative calm....and a price above 100 becoming established.

A brexit deal and positive update will sustain this.
Judging management by how they collect their debts and invest the profits being made in further growth.

Gains this week......in danger of a full blown rerating....
If the momentum continues into a trend it is
Time to add....

Your report back will be of interest to us all Davey.

What I found interesting about the Trinity update was the amount of dilution in issuing $100m at market price is only 1%. Previous NASDAQ issues have been at a significant discount. We can expect the second GA investment and maybe another new deal Or two to get to cash flow neutral in 2024.....not much dilution to come and lots of value to be released by the pipeline.....should be good for shareholders which is why GA and CPP are climbing aboard.

Let’s start with surufatinib approval at the end of November or early December.

It looked good at the time but not to BOD.
We will not know how close an offer came to be made.....if one had been tabled the BOD would have had to consider it.

850 might be a winning number now.......or Iovance may get their act together early next year....and add 50% (this was a recent broker forecast ha ha).