Member Info for MattTheBrave

Disagree - great company, undervalued share price having been sold down like most domestic UK stocks to well below fair value. I expect the stock to go above £3 this year baring an overall market meltdown.

Dave - IMV the whole industry is undervalued, which is why I also own CMC, the second best player (again IMV). I also believe that IG should be at a premium given it's size and market positioning.

Read your own (excellent) post on Dec 15th re rationale. If you think it's cheap, you should buy it. If you're worried about interim vol, then do it in tranches to average in. Simply waiting for share price strength mean you're necessarily getting in at a higher price than you need to, and doesn't mean there won't be further falls.

Don't you just love the posters who decry the share price one day, and then, following an almost immediate sharp rise, astonishingly bought at those lower levels!! Who's going to bet that on a down day, DF has suddenly sold higher up. You're fooling no-one DF you moron.

You crowed a bit too soon didn't you DF......;-)

Recent volatility in UK stocks, particularly midcaps, has seen a lot of retail investors taking money out, forcing the fund managers to sell at whatever price they can. I suspect we will see some RNS's in the coming days which will show some of the bigger holders being forced sellers. I note that Artemis have actually been increasing their holding. above 5%. Not sure exactly which manager at Artemis this is, but if it's Derek Stuart, this would be a very positive development.

Absolutely incredible - complete defiance of the laws of physics!
I would rate Avanti's chances of recovery from here to be a similarly improbable (or perhaps even slightly less likely) feat...;-))

...but still way undervalued. I'm still a buyer

I believe that they are forced to buy back consistently. Remember, the Company are (obviously) insiders, and hence any hint of 'trading' is likely to be viewed with suspicion by the regulator.

No RNS, so he can't have been a large holder? Most retail funds have seen huge redemptions ahead of BREXIT and with recent market vol, and hence have been forced sellers of stocks, even ones they like. I wouldn't add too much weight to one fund managers' actions. If you liked it below £5, but don't like it at £3.30, that seems like an odd investment approach? You need to be brave to make real money in these markets, and that means buying good businesses when the market sentiment is poor.

I almost miss the sad and deluded poster that was Sister8 - Board very quiet now, and her posts did make me laugh. Oh well, just have to find solace in a rising share price....;-))

Company confirms double digit growth for the year, and the stock falls 11%??!! I've added to my position today, and will continue to do so on any further falls.

I think that using the phrase 'paying dividends' when discussing AVN is ironic in the extreme.....;-))

Thanks Dave - in truth I would be more cynical here, and say that management like buybacks because it tends to increase EPS, which most of them are measured and paid against, as opposed to dividends. However, given that I also would prefer to see my returns through share price appreciation rather than dividend growth, I am aligned with their position and hence very happy to support. ERR simply compares the Return on actual equity (in Balance sheet) versus the return on the markets view on equity (ie market cap). In effect, I think it's saying do buy backs when the stock is at a discount to book value, and stop when it's the same?

Couple of things Dubs - Strangely, I am aware of the tax free structures you mention but (and I don't mean to boast) I have also used my full allowance for the last 15 years or so, but still have the majority of my investments out side of these structures. Secondly, I don't doubt your last sentence, but in all honesty, retail investors are by in large poorly informed and extremely naïve. Having been a professional investor for much of my career, I feel my handle on this issue is better. Perhaps you might explain in detail why you think share buybacks are a bad idea for a company whose return on equity exceeds cash interest rates.

Brad
(10×25) =250
(10×75)-50)÷100) = 7
250+7=257
:-)

Have you actually read the whole RNS Jimini. Given that this was following compassionate leave, I think we can take it that this is something genuinely out of management control. Stock price today show's other agree.

Sorry, but that's not debt to net worth, but debt to Capital (where capital = debt plus equity(net worth). If we assume that the current market cap is equal to the Firm's net worth (which is reasonable as that is what the market is telling you), then the Deb to Equity is nearer 1,000%. How do you like them apples...?

You never know Task, perhaps your pick will become a penny share during the year....;-))

mmm - I am quietly nervous!! ;-)