Member Info for MattTheBrave

Had been thinking that I simply imagined that opening price this morning till I read this Board - certainly got the old heart pumping!! Do we know if any real volume transacted at that level?

Well gg, that all seems a bit convoluted to me. I still believe that the revenue performance and the ARPU at CMC and IG
has done far better over the past 12 months and is significantly more stable than Plus - likely to be a result of more exposure to 'professional' investors versus Plus. That being said, Plus's rating looks cheaper, so perhaps this is all reflected in prices already.

Well you're going to have clear a few things up for up for me then. Firstly, I don't actually know what those numbers are - Difference? ratio? One is income, one is revenue? Please explain. Secondly, your figures imply you know what CMC's revenue was in the 3 months to 31 March 2021, but these haven't been released to my knowledge - the pre-release from from them towards end March only covered net operating income, not revenues.

Not fully comparable I agree, but the size of the difference is extreme in my view even taking that into account.. I also looked at IG's revenues for the following quarter in 2020 which does include March and it's only about £30mn above what IG managed in the quarter to end Feb just gone. On that basis, I think it's entirely possible that IG will match last years Q4 revenue (which includes March 2020). I believe this is a substantially better result than Plus, though I acknowledge it is also on a lower rating than IGG.

Thanks Surp. I don't really subscribe to the notion that one manager buying a chunk of stock should strengthen my resolve. Every buyer has a seller, so their 5% accumulation means that other investors owning 5% previously felt it was over-valued. Your argument only holds true if you actually know the team/manager at Polar Capital and rate them highly?

I'm not convinced that these are good figures at all when looking at equivalent quarter last year - Revs down 36%, ebitda down 47%, ARPU down 54%. IG Group over similar period (3 months to end Feb) showed revenues up 65% with ARPU flat, and CMC trading is even stronger. It looks to me like Plus500 has managed to attract some interest from short term investors with nothing else to do under lockdown who are not following through now that volatility has eased. IG client base looks much higher quality to me.

Prog - your post makes good sense, right up to the point that you reveal that IG is the only individual stock you have, and it's 20% of the entire portfolio. So 80% of the portfolio is spread over hundreds of companies, and then 20% in 1 company. That's not what I would consider to be a sensible risk management approach, but each to their own!

Surp, and scoob - guess you guys have kept this board going for quite a period now. I've been in this stock since mid 2014, buying a chunk in the 160 - 190 range. I started cutting above £5 in 2018, and bought them back in 2019 in the low 2's. Unfortunately, didn't sell when they went above £5 the second time! What level of EPS are you guys expecting this year and next? I'm thinking 20p this year rising to c 28p in 2022 - puts it on 13x next years earnings which feels reasonable value, though perhaps not dirt cheap?

Ha - yep, sorry bud, just couldn't resist. It is ironic that your Insignia appears to have two insignias! :-))
Anyway, Re M&G, a good shout. Crazy for a non cap intensive business like this to be on such a low PE. and whilst the Asset management business has had it's issues, the steady stream of income as it runs off the insurance book will underpin the divvy for many years. If they turn the asset management business around, the I don't see why this can't double pretty easily from here.

I'm thinking the badge might not be the only design fault on the Vaux/Opel Insignia. I mean, just look at it.....;-))

hmmmm - approaching £19. In the words of The Clash, Do I stay , or do I go........?

Panda - be careful or you're going to sound like a rather desperate ramper/stale bull. Yes FCF is higher, but the debt is as well - about 4x higher. Plenty of risks still with this Company. I still think it's a good risk-adjusted opportunity, but if you believe there's no risk here, I would disagree.

Wild Task? Not sure I'd like to party with you mate...! :-)
On a serious note, I think UK financials are one of the most underrated sectors in the world. I own L&G, Aviva, M&G, Lloyds and Barclays. I also now own a raft of UK REITs, and Investment Trusts (largely focused on renewables). Yields of over 5% , and in some cases 20% discount to NAVs. Been hugely out of favour for years, but I'm betting these things are about to turn!!

....however, you are correct in saying that it is the renewables fund which has purchased the Glencarby assets. I have holdings in both funds - Greencoat is clearly the best manager in this space with all the experience, contacts, and reputation to build the best quality portfolio in the sector. Even better, you get a very healthy dividend to boot!

Greencoat is a renewables investment manager who manages a number of funds, including the UK Wind Fund, and the Renewables Fund. So they are separate pools of assets managed by the same Fund Manager.

bummer......:-(

Yep. £4.5bn mkt cap would be required which equates to sp of c£11.25. Now that would get things moving nicely!!

...the stock back above £9. Hopefully this time we can now start to test new highs, and move towards a double digit (in £s) sp!

Didn't hold up did it. Guess it'll have to do it the old fashioned way - you know earnings and dividend growth - ;-)

Stock gapped down from £10 to £4. No reason it can't do something similar on the way up.....