The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I was on a Fastjet flight recently to nowhere and I thought the food was strange. It looked appealing, it smelt good. When I stuck my knife and fork into it, something odd happened. I couldn’t get it into my mouth. Chunks of it kept falling off and I ended up putting an empty fork into my mouth.
Some might be worried about the rate of aquisitions here. They seem to be buying anything that moves. If it pans out in the end, all's good. Keep an eye on the number of new shares issued.
It's always the worst shares that are talked about the most. I don't know how many comments have been posted on this site but it must run into millions. Every Tom Dick's Hairy putting their two penny worth in, all the way down the ladder Tom, the ramper, Dick, the deramper and Hairy, the clueless idiot whose left wondering where the other two have gone.
IThis is called squeezing the pips There is no juice left. in the orange but for the liittle there is in the pips. People trying to offload at anything above zero.
Well said JT16. The only saving grace most of the rampers possessed was that weren't too offensive. Some were even amusing, more so now that the share Price is near a penny. I've read some awful comments on various boards, many of them amounting to threats.
Not surprising really when you consider some people jumped on board in the early thirties. They could sell down a lot lower and still be in the money.And once it has got as low as they think it is going to go, and the company has not been adverslely affected, they will pile back in. With the profit. Remember the old maxim about the market: It is not return on capital you be worried about, but the return of your capital. If you are gambling your winnings, you can not lose.
I think it's more hasta luego, or au revoir. I expect to see the name resurface in time, but I suppose for the original private investors it is goodbye to any their money. Anyone buying this now who doesn't want to buy the whole company, well the name really, Is more risk on than I am. Oh well, that's the topsy turvy world of the private investor for you. I hope many in here have covered their losses with some good ones, otherwise for them it's more turvy than topsy.
If an African airline, Mumbo Air or Ganga International , had proposed the idea to operate flights between Edinburgh and London, would they have been given clearance? I doubt it. But a small foreign airline was given permission to fly around Africa, for a while. Then, when the money invested drained out into the pockets of the people it was intended for anyway and people started to grumble it wasn’t African enough, they ditched the BOAC, silk scarf and goggle wearing pilot for someone more African or at least less foreign. But money still seemed to slip through the cracks. Where has it gone?
I can not believe the guy is that thick. If he is, he is the most fortunate idiot I've ever read about. If the cleaning lady you mentioned had been appointed CEO would the result have been any worse? I doubt it because she couldn't have made it worse.
If I was starting an airline in Africa , I might consider employing the present Fastjet management based on their knowledge of the airline industry ; as baggage handlers mainly with perhaps one or two of the more intelligent ones on the check in desk.
I am not so sure that the execution of the business plan was the problem. The plan itself was the problem. Anyway, another lesson learnt by those caught up in this adventure. Today, as share ownership is being aggressively promoted in the media, people new to this área would be well advised to study the Fastjet case. There are many more disasters, wipeouts, of course, but few that signal so clearly over quite a long time that something was very wrong. I know people might say that I am talking from a point of hindsight but I never bought any. I've bought duds, for sure, everyone has. I got out of some in time, and others took my money down the sinkhole with them. I also know I am writing this on a discussion board, but my advice is don't pay too much attention to what you read on these fórums about the merits of a particular share or get caught up in group euphoria and start running downhill after a share. Thanks to all ifor the humourous exchanges and I am sad about Fstjet.
Let us pray
The buy and sell indicators mean nothing. I think Fastjet will survive, it has for years against all the odds but only with huge injections of capital, thanks to the shareholders, some of whom of late with an eye on buying the company. It needs to be scaled down further and start to look more closely at the environment in which it operates. It started with big planes. The Easyjet of Africa idea based in Gatwick, south east England. The idea was that thousands of Tanzanians would be jetting around Africa, rather than travel by bus. Share price 40 pounds. That did not work out too well. Then there was a rethink. Smaller planes, suited to land at the airports they wanted to fly into was suggested and taken up. That was a shrewd decision. A very clever one, made by people drawing astronomical salaries. But, whilst that addressed the problem , it didn’t solve it. Share price 7 pence today. As many managers of Fastjet, and other small African airlines have said in the past, it is very difficult for an airline to make money in this part of the world. What they didn’t say is that it is not so difficult to make money being a director of one.
Hi Mulder. Large trades such as the one above was first signalled as a buy. Then it was signalled as a sell by the people at Henderson. They reduced their exposure by about 20%. What I’m trying to say is that these discussion boards are full of over optimistic or over pessimistic opinions based on someone’s interpretation of whether someone bought the stock or sold it. Of course, someone bought it and someone sold it, that is there for all to see. Now, whether the market makers took the sellers stock on board themselves, or paired it off with a buyer, we don’t know. The only buy and sell indicators we should be interested in are our own.
I don't think people should be too concerned as to whether trades are buys or sells. Most sites do not specify.
Surely Fastjet will receive some money from the parts so it is not all that bad. Or even build a plane out of them like the film 'The flight of the Phoenix.
I sold half my modest holding today. If a new bid comes in, I've still got a foot in the door, if the original bid falls through I might buy some more. Quite a refreshing experience for me to sell some shares at a modest gain. Most of the time I am underwater, sort of amphibean.
1.4 p is a little pessimistic. I do not think they will drop to that.
amongst yourselves. Some people have paid dearly for being invested in this company. Some have made money from taking short positions. Some have made money by writing things about the company and some have made money by ‘working’ for the company. It’s time to reflect on why you invested in the first place and why, in some cases, you continued to buy as the price fell. That in itself is not always a bad thing to do but, with hindsight in this case, was disastrous. A lesson to not do it again and not to take any notice of what people say on share discussion boards. I have lost on shares, it is an occupational hazard. It is how you mentally deal with it that is important. I write off any dip into the market as soon as I buy. That is how I deal with it.
Start with a billion and set up an African airline. It's an old joke but is it really a joke? Mind you, the main people involved in this have not lost a penny. I will say one thing for Fastjet, the fact they are still in business is astounding.. I reckon someone will buy them