Member Info for Mr.Flibbles

I was not aware of this. As a new shareholder we should contact the BOD to see how the company and us can do to help the people in Madagascar. There is an element of moral duty and I don't feel comfortable accumulating if we don't.

@ShareInvestment we posted at the same time. There could still be an IPO seller who is up double-digit percentages in the background? This is what I suspect. As PI's the rest of us will just continue to buy as PI's we can't influence a big seller.

Second, tranch just added bringing up my allocation to 0.8% which is quite large for me. There is no news due so I expect more falls. If you need the money please do sell :-)

Growth has been out of favour all year and GROW's share price had to cool off before we can move again.

I don't give strong buys willy nilly. PIN is probably the best value listed private equity buy at today's price. PIN continue to buy quality companies with the like of HG and Apax but all at 25% discount much wiser discount than both HG and Apax have.

Some level of discount is to be expected based on historic. But if the NAV growth continues to be positive then that would be good enough and the discount closing would be a bonus. I think 15% discount is about right.

Every huge buy has a huge sell.

THG that makes up <8% of CHRY and also now WISE had a smaller fall. The high overblown negative publicity THG are getting have killed the reputation and bullishness in UK IPOs and CHRY.

It could take months to sort out THG shenanigans.

But we do have Klarna, Graphcore, Starling Bank and the rest...but now at a cost.

Historically there is a seasonal decline in November followed by a strong rally also in November. Inflation is tricky to forecast as the long term trend is always down, UK inflation maybe longer than US inflation.

I had to reduce GROW some time ago as the NAV reached new premiums but I am happy to buy later this month with an order set to buy at my estimated NAV and a smaller buy at lunch today.

Targets for buying private equity are GROW, CHRY, OCI and in the public listed space always ATT and EWI.

Despite the fall from THG listing making up 8% of CHRY this should be trading at a discount to the next reported NAV presuming more deals had been done?

Forecasts are 1 year upside scenarios. Downside not mentioned.

Does anyone have a link to the report?

Not just a wide discount but strong EPS growing technology companies. Sadly very under the radar but I strongly believe there will more interested investors.

UK markets are very today (Monday) with all my resource plays (and others) all up. I question the decline here as someone with a large amount of ash wanting out. So I have added.

This will help institutions take note and definitely some good press. £100m market cap will increase to £250m, lets hope they can do this quickly.

Bought in small:

1. They have stopped the silly shorting
2. Discount seems undervalued based on the quality holding
3. Reduced big-cap china

Their social media Twitter feed is generally embarrassing and shows them up as the charlatan's they probably are. Personally wish I had their job, must be great getting paid for underperformance. The latest one has a video on why investing in China is great yet MNL don't invest in Chinese mid or smaller companies instead of the uber risky mega caps. But the thing is the discount is getting to the same level as the Chinese holdings so on balance MNL has significant upside when the sector and large caps re-bound like they are at the moment.

NAV came close enough to your estimate. Feel there is much more in the tank to come out. 6-8 percent premium justified imho.

Posting this info second hand to Steph about 10 months late as I did not understand it myself but knew P/E ratios listed are not truthfull for any trust or fund:

The portfolio P/E is the harmonic mean of the individual stocks' P/Es, not the simple average.
- The portfolio earnings yield (the inverse of its P/E ratio) IS the simple average of the constituent stocks' earnings yields.
- The correctly-calculated portfolio P/E will never exceed the simple average P/E of the constituent stocks.
- Low P/E stocks influence the portfolio's overall P/E ratio more than high P/E stocks.

To illustrate the last point, an equal-weight portfolio consisting of a 10 P/E stock and a 190 P/E stock has a simple average of (10 + 190) / 2, suggesting a P/E of 100, but the correct P/E is actually 19.

Doesn't help with the limitations of P/E as a measure, but corrected some of my thinking about portfolio and fund-level P/E.

Try the ticker GROW to buy shares in Draper Esprit.

Any chemists using anything similar?

GAP on such thinly-traded stocks should really be avoided.

It is very clear to me who the seller is. It has to be AIMtoDeath because all 3 of his shares HZM, SAV and ACP have fallen together by the same amount while the rest of the market has risen. And he has not posted here in a while. :-)

My light-hearted point is that the fall is still sub-sector specific with companies with similar characteristics moving together and is not a result of inside information.