The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Morning all,
It's very easy to labour your negative views on any stock especially when a SP falls after a long awaited update like the RNS. I appreciate that many investor run on the thin line of greed vs fear but to be honest that shouldn't come into trading. If only it were that easy tho. Being right is a gamble that we all play with any stock purchase and if you believe this is wrong then you haven't read the rules to this process properly.
Todays RNS was both good and bad, progress is being made and the company are engaging first and foremost with the regulators. If you want a quick return and hope to buy today and sell tomorrow at a profit then may luck be on your side. There are still enormous hurdles to overcome here for the board to return this company to a viable long term business.
Could this go bust, sure obviously. Could this recover, of course given the right steps.
The steps being taken I believe are prudent and acceptable given the current circumstances, not to mention the current worldwide problems. Delaying lending until next year in favour of focussing on the complaints ongoing is the right step. Continuing on collections right now rather than issuing more lending is also the right step. Lending right now to people who could easily find themselves redundant in the next few weeks is the wrong step.
There is no doubt that vultures will be circling around Amigo and just waiting to gather up the scraps if this all goes wrong, but if it doesn't they'll move on to the next ailing financial business.
I am invested here and I will continue to hold my position (which yes I added to this morning) until such times as I deem it fit to move on. Every post will have an affect on the readers who are invested or potentially thinking about investing here and to be honest its not a soap box so feel free to express your views and argue with each other but don't expect everyone to agree with you. Its the SP you buy and sell at that will make you happy or wiser.
IMHO I see this stock ranging between 3-9p in the next few months and if lending starts again and the regulators are satisfied this will move higher.
Just my two cents, be nice to each other people....its just money.
MIC seem to be buying considerably despite the decline over the last while, I am a holder here so obviously I want a positive outcome...this could end up with be either JB wanting to take it private and fighting the FOS or Amigo wanting to sell off the "Loan Book" to other interested parties...but I wonder could MIC and JB and GC be in the market for a combined offer? Given their combined market share would that make a takeover possible?
Granted there are other hedge funds in play but none are more interested than MIC who have taken their position in this since the decline started. Negative comments seem to rattle this stock severely whereas massive buys don't seem to raise the share price. There is defiantly something in play here....time will tell what way it goes.
If it is Benamor I suspect that we might wait a while more for the offer, wonder how it would look if he quit today and then purchased it all tomorrow.....think that might raise some questions
Interesting to see GC buying 3mil plus shares yesterday.....
Anyone know why there are so many late trades here, I expect to see a few after market close but last few day there have been many even up to 6pm?