Member Info for lordloadsoflolly

cm22 - I fundamentally disagree that "It doesn't make any difference to the value whether it is on the balance sheet or whether those holdings have been sold off and distributed to share holders". It makes EVERY difference to investor sentiment (and their pockets - bird in the hand & all that). Which is largely why the share price is where it is. Investors have - for now at least - largely lost faith in TEK.

Livingstone77 - agreed. Clifford's presentation was like TekCapital for Dummies. Any serious existing investor knew it all already. So who was Clifford trying to pitch to? The elephant in the room remains "Why has TEK's share price decoupled so spectacularly from the sum-of-its-parts NAV?" I've no doubt one or more investors asked this very question. You could almost hear Clifford reading it in the eerily long silences between his answers, then saying to himself, "Move on, nothing to see here". There was also little clarification on the company's timeframe for any special divis. I appreciate they have to be careful to avoid any market-sensitive comments. But fobbing us off endlessly with "when the time's right" & "patience is required" type answers ain't gonna cut it for ever. I'm prepared to stick with my existing holdings for now (despite them being heavily underwater). But I won't be investing any further here. Too much jam tomorrow still, when - with two IPOs already complete - it should have already started "showing us the money".

Andrew7 - I've given up listening to SOH's podcasts, as his optimistic forecasts never came to anything. In terms of latest results, they should be significantly better than H1. But this may already be factored into the SP (unless investors are adopting a wait & see approach with the results, given past disappointments).

DorsetLSE - I know you admire Terry Smith, but his main fund (Fundsmith Equity) underperformed its benchmark in 2021, 2022 & YTD. So he's not infallible (just like any other fund manager!) Your argument about buybacks is flawed IMHO, as you don't have a control group to know what would have happened to a company's share price without the buybacks. Just because a company's share price (where they've done buybacks) has barely changed, doesn't mean the SP wouldn't have sunk further without the buybacks.

LWHL - not sure I agree with your lifestyle director comment. Simply because of the amount SOH invested here. He still has plenty of skin in the game, so you'd have thought he had a huge vested interest in making things work. Though some of his recent decisions (& the seeming rotating door of senior staff) certainly suggest he's lost the plot - for now at least.

Also worth remembering there's a small annual yield to factor in, though admittedly not a game changer in itself.

The pandemic was definitely an aberration for SMT. But if you google its long term share price graph & study price movements over random 5 year periods, it generally does OK. There will always be exceptions & its performance has sometimes been quite pedestrian - even over 5 year spans. But it's rarely been a disaster, providing you can hold long enough. Does that make me your "long term speech guy", CaptainPicard (even though SMT is quite clearly marketed by BG as a longer term investment)?!

11% up or down - all in a day's work for IMM currently, such is its share price volatility. Also, small movements in pence look bigger when your share price is this low in the first place.

LWHL - quite. And why penny-pinch with an AQSE listing, if you intend migrating to AIM within 18 months anyhow? As the graph below shows, that just caused an unnecessary share price crash that's unlikely to be recovered any time soon: hTTps://www.hl.co.uk/shares/shares-search-results/p/probiotix-health-plc-ord-gbp0.05

CaptainPicard - not really, as this just shows what's happened in the recent past. On that basis, you'd never reckon a share on the slide was going to recover any time soon. Yet some do (though I'm not saying SMT will - more that nobody knows!)

Speculating about whether the price "will be 6xx before 8xx" is utterly pointless IMHO. Even more so when it's not backed up with any sound reasoning. NO-ONE knows what future price movements will be - short, medium or long term. If they did, they wouldn't be here in the first place.

Thanks laallee. You too! OIT & PSH are both near 5 year highs, so personally I'd be reluctant to add right now. But I'm unfamiliar with either and have got it wrong many times before, so I'll just wish you luck.

Whatever the hours, the results have been poor.

Admittedly though, PSH has way outshone SMT over the past 18 months - & indeed the past 5 years.

laallee - true, though PSH has hardly earned its eye-watering fee recently. Rewind to Oct 2021 and its price then was pretty much the same as today. So worse than sticking your money in a bulding society, even after the dividend yield.

Shortly after SOH tells us all he'd been overstretched and was now correcting this, he resumes the OptiBiotix Ltd CEO role. So he'll now be overstretched again. Frankly, senior resignations aren't of concern to me, when sales have been so dismal under their tenure. It's the sales themselves (or lack thereof) that's concerning.

To answer Divihunter112, SMT's current higher-than-average NAV discount is probably down to the out of favour sectors in which it's heavily invested. And the high proportion of unquoted listings - which despite frequent revaluation, some investors will be more wary of in a bear/recessionary market.

DorsetLSE - yes, it can be too easy to read the wrong thing into a high NAV discount. Sometimes, when a fund is in temporarily "unloved" sectors, the discount will narrow again once the sector regains favour. Your linked article forecasts this happening with SMT (though of course, nobody knows for sure). In other cases, a high discount is symptomatic of a fund that's simply had its day and will never regain its former glory. So long term past performance is always worth analysing. Then exercise caution and gut instinct in the hope you'll avoid any long term lemons.

MaverickD - whether or not you're "getting in at very good levels here" is anyone's guess. It's been said many times before with IMM, only for the share price to drop even further. So just saying I wouldn't bank on it.

Only time will tell whether that was Wise, Karl von.