Member Info for MattTheBrave

Nope, I'm not an IFA. My clientele are all institutional asset owners.

Thanks for digging that out Victor. Pretty small beer at the moment then? Growth at hose rates will have to continue for a few years before this meaningfully hits bottom line?

Sure, but if you actually want to combat climate change, it would have made more sense to invite the CEOs of the Oil exploration, mining, and utility companies, and give them all a good dressing down! Inviting all the people who already agree with you, and who are less impacted by the issue makes less sense to me.

Good increase in NAV by all accounts. I do wonder when they might start to actually increase the dividend (though note the 7% yield remains extremely attractive!)

Thanks Risk. Well, the one thing about shorters is, they will have to buy back at some point, so we know there's good latent demand for the stock out there at some point!!

I sold out on 28th Sept having only been a holder for a few months. If the bid fails, this could get very interesting, although it does present a huge amount of uncertainty. Essentially the entire Board would need to be replaced which would take time and cost, and leave the firm rudderless for a period. The question then for institutional investors is are they prepared to take the short -term pain and block the deal (remember, many of these guys are remunerated on short term performance) or simply sell out now and chalk it up to experience? Going to be an interesting watch from the side-lines, but I cannot see the point of any PIs staying in the share at the moment. Either the deal goes through at current share price, or it falls after the failed bid with management credibility in tatters.

Ok, so I did bait you, hence angry responses fair enough! Let's move on, and (hopefully) have a more stock specific (indeed, idiosyncratic) discussion.

Risking it- so I know EPRA very well, but they are not the drivers of the NAV calculation - they simply have produced a number of adjustments which they believe produce better reporting standards, eg focus on whether leases are finance leases or not, or whether some of the properties are under construction etc etc. The main driver of the valuation calculation itself is IFRS (International accounting standards basically). They outline 2 main approaches to NAV calcs - Market approach and income approach. In general, most participants use the Income approach unless there is a highly active market for similar properties in same area - this is not the case for Social Housing, so income approach is what is generally used. IFRS define this as: "The fair value of an investment property can be measured using discounted cash flow projections based on reliable estimates of future rental income and expenditure, supported by the terms of the existing lease and other contracts. ".
So, hopefully that's reasonably clear. Not to do with ego, simply experience and knowledge where I happen to have a bit of both.

We now have the man who believes in 'spare money' and doesn't understand words of more than one syllable, joined by the genius who appears to have invested in a REIT but doesn't understand how lease structures feed into NAVs (though he should now because I was kind enough to explain it to him). It's great to have the 'Brain Trust' posting here for our benefit isn't it, LOL.
Not sure what the opposite of MENSA is, but not sure why they decided to make this Board their home........

Great business and share price momentum, and on 2x sales. Feels like this could easily move back to a £1 in short order!

Well, funnily enough Unhooked, I'm not terribly interested in your opinion regarding what is and what isn't 'fatuous' on this Board. However, as we live in a democratic, free-speech democracy, I guess I'll have to live with it, as will you. I would add that insofar as Rooky's post pertains to Bioventix, and his trading experience, I believe it is actually far more relevant to this Board than many other postings here (ironically, including this one, and your last offerings!)

Generally bought in 2016 when it went below £1, and again in 2019 when it dipped down to £1.20 or so, so cap gain of c100% which is nice. Business is fine, but 30x PE leaves little room for disappointment here. I'd give it another look if it fell back below £2. GLA though.

Long time no speak - hope all cavers are safe and well! Certainly looks clean and shiny round here, so well done GS for housekeeping duties!
Realise I've been a bit remiss about responding to posts.
Opt- re your 3 July Post - Firstly, I now use YouHodler for my stable currency positions where they offer 12% on USDC (backed dollar for dollar with reserves) paid weekly into your account on $100k or less. Regarding IG Pro, I think this was possible thanks to my status as an FCA approved individual, and being able to provide proof of a portfolio above £500k invested in relevant securities.

Finally, nice to see Lloyds nearly back at 50, and hence up c40% for the tipster challenge. Should hopefully put me there or thereabouts in the table!

I remain heavily invested in UK financials, but current dilemma is when and if to trade out of Darktrace, my best performing share this year!
GLA!

Oh dear. Did the long word confuse you little man? There , there, don't worry. You go and play with your toys and allow the grown-ups to keep talking.....:-)

I've been lucky (!) enough to have been invested here since 2015 when the stock price was£8, so no danger of me being out of pocket with or without dividends. Soz, I guess this post was also a bit fatuous.....;-)

Arga - when you only produce 12g of antibodies per year, you don't really need more than 12 people! :-)

well I just hope you didn't leave any of that 'spare money' you're so fond of in those shorts before you lit them up....
Too early to put up the bunting just yet. I switched most of my CSH holding into Triple Point on SF's first open letter (which saved me a few bob)and I'm staying that way for now. I believe in the sector longer term as it costs the tax payer half the amount to house the vulnerable this way versus 10 years ago when the NHS was providing the accommodation, hence the treasury is unlikely to change tack. However, I do think there are questions for the CIV directors to answer, so for now, I'm happy to be in the REIT on a 10% discount with no risk versus CIV on on a 17% discount, but with idiosyncratic risk. I'm keeping a close eye on when to switch back though!

Added 40k at 2.45. One to shut away for a few years.

Troponin doubled and already the second largest contributor excluding Vit D. I think this will very quickly replace the revenues NT-proBNP. I also expect Vit D to continue stronger growth this year, whilst currency already looking like a positive contributor. If this moves back towards £30 then I'll be buying more.

Sure thing Icarus. Mine is only based on 34 years of investing in equity debt and credit markets, but I'm sure you know best....:-)

P64 - I don't necessarily agree with Lucy's view on CIV, but I'm afraid what is totally clear, is that she knows way more about investing than you do, Mr 'Spare Money'. Still laughing at that one. Have another go, see if you can top it?!