Member Info for Jatw

CBB I will be sitting on my hands too and hoping there will be a bounce.
When I first bought CLIN I also bought Dechra (dph). I put about the same money into each about 1600. CLIn is now worth 1200, DPH is 3400. It was DPH that looked expensive at the time, but it has been proven better quality, the difference may also be partly down to AIM vs the Main Board.
AIM is def more volatile so I am hopeful of being able to get out of Clin with a profit (as I could have done earlier this year).
£8 anyone?

And Octopus investments is in with a new 5% disclosable position.

A4007035.....if the answer to your questions is yes, then the SP should take care of itself (high). Clearly the market is taking a different view at the moment.....while the market can be wrong it represents a lot of competing views.....unfortunately the company is heavily dependent on others (Eg Iovance) to deliver and they have not /are delayed.
Clin made a big investment in Proleukin using debt. There is a Growing risk this does not pay off. Clin will need to show its efforts to rejuvenate the drug is working.

This doe not immediately impact HCM other than indicating that CKHH is open to M&A where it creates value.
CKHH has agreed to merge its 40% holding in Husky Energy a Canadian oil company with a local competitor. CKHH has a15% stake in the combined entity.
CH mentioned there will be globally significant pharma companies emerging from PRC. Don’t be surprised if CKHH agrees a merger of HCM with another Chinese company at some point.

My employer has used MIND for several years.....they purvey a high energy format training for some fairly standard behavioural theory.
They contract a lot of self employed life coaches to deliver the training to Try to solve first world large organisation Issues.
The pandemic will affect them but provides opportunitie S to sell more to existing clients who are worried about motivating and managing remote workforces and to protect the mental health Of employees. This type of business has historically been a partnership...so the plc route may be tricky for them.
Mr Black is charismatic, as are many of his staff and contractors.....the star talent may take an increasing share of the revenue making this a difficult one for shareholders to own and get growth.

Negative interest rates will hurt all types of financials. MNG still has 30bn of annuity liabilities.....these increase with negative rates....if t has to find investments for many billions of new money it will pay more and lower returns....amc income may be compressed as it will not be value for money.
All round a bad idea.

Just doing enough to stay in the 250/350.

Berenberg target 1180.
Seems the Americans have been persuaded to pay handsomely.
(Happy to have been proven wrong)

Say book value is 200p, currently trading at 25%
Your major resistance level of 72p is still only 36%.
However can’t see this price to book level recovering until Covid 19 is declared beaten by many vaccines and it is clear where the losses lie.
Just has published a lot of credit data and is also exposed to the very long term value of UK housing. Neither appears to pose a problem at the moment.....but there appears to be a lack of appetite from investors.
Interestingly Rothesay shareholders recentLy went from three to two at a decent valuation......I wonder if that was applied here what the implied value would be?

Thanks for the invite Davey......between us we had atleast 3 questions. I asked about products going straight to NRDL and the changes in shareholder.
News was that they are going to build their own sales infrastructure in US
And looking at an Asian listing HK or Shanghai soon.
Was there anything else?
BTW do you hold either of the Loncar etfS?

Distribution is going to be key for HCM as it commercialises product.
I wonder if they can renegotiate terms for Savolitinib and put it through the fresh oncology sales team.

Thanks Davey....I have registered and will (work depending) try to listen in.
Interested to hear what he has to say when unconstrained by the corporate presentation.
Listening for insights on
Working with partners
Creating distribution and commercialising in home and overseas markets
Dealing with different regulatory regimes

I had hoped the anniversary would be marked by a rousing trading update.

Missed an opportunity to talk about their first year achievements.

I know this is no consolation, but LGEN and AV have fared far worse (-23 and -31% respectively on the same basis.
Interestingly SLA -6% and QLT +3% have done better.....both have sold their heritage books (as did LGEN) and are operating significant share buy backs.......which look to be supporting their SP....if conditions continue as they are then there is a likely fall coming when the buy back ends and little upside recovery which will no doubt go to the larger losers.

https://twitter.com/hchimed/status/1318852803826118657?s=21

Shows further opportunities for surufatinib are emerging.

Should have looked more closely at the selling shareholder.

BGF are the second largest shareholder per the VLG website, they have sold 3% of the company (about a third of their holding) in October. Looks like sensible portfolio management taking some profit.....let’s see if the selling continues.

A positive move towards commercialisation.....6m to fill the position then 3-6months for launch somewhere.....China first with the current NDA.....this person will be targeting US and EUrope.
AZ is established in China, it is a pity the upgraded HCM sales team may not be involved....though there must be an angle if HCM reaches parts AZ cannot easily reach.

The value of properties to LGEN depends on whether they are in a company backed fund (Eg their rentals back annuities) or whether they are in a policyholder fund in which case LGEN is only exposed to a declining AMC a on a lower AUM.
Their build to rent portfolio may take a hit, but they can increase the social element and have the govt pay the bills to partly mitigate.
They have So many large illiquid assets and each one needs to be assessed individually the valuation and audit fees are going up.

Since demerger Pru has lost slightly more shareholder value than MNG.
HK troubles
Pandemic
US issues
Can’t be brexit?

Using the following method
(Current SP + dividends)/ opening price on 21/10/19
Pru $ dividends converted at £=$1.30

I have MNG slightly ahead with a loss of 13% against a Pru loss of 16%. Still a few hours to go. Alternative methods will give a different % loss (but I doubt a different result unless dividend reinvestment has a significant gain or loss)

Would any lurking long term holders/watchers like to give their thoughts on why the SP has been heading south since results that on first reading were pretty good. The company is debt free, presumable has a large unrealised gain in its meter business and is set to grow dividends for the next 4 years.
I Expected more and am considering buying in at current levels.