The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Historic low was around 12p in Nov08, 8 months later the SP had quadrupled! ;)
Big week coming up here, are we set for another pounding or is the SP going to stabilise round the mid-teens? All very reminicent of late 08 with general market sentiment, furnace closures and a huge drop in price. I guess one question to ask is are we in a better position now than two years ago. Its a hard one to call, I seem to remember we had both furnaces shut last time round and prices were rock bottom. Things have improved but two years on with our stockpiles eroded and cash frittered away we seem to be in a precarious position to say the least. We haven't dropped a third in a fortnight for nothing!! as always with IFL the news is factored in before we can react, Price of FECR, more furnace issues, placing to raise cash? it should all become apparent in the next few days or so. One things for sure I felt like selling up in 08 as I feel like selling up now. I felt quesy at the though of topping up in 08 like I feel queasy at the thought of topping up now. Deja vous but the big difference is Im hoping Iv got the patience and the guts I was lacking 2 years ago to see me through it. (pity I don't have the cash I had 2 years ago :) Big test of faith for all long termers over the coming months, still Its easier the second time around don't they say?! :)
Nerchance! As Mark Lawrenson would say!
Final word goes to the unlikely poster boy for the Wet tanker market..... Mr Eddie Grant everyone! ;) http://www.youtube.com/watch?v=C4JHG2rECZo&feature=related
Just hit a 7 year low here, and according to Mr Troeim we're in for 5 years of PAIN! “We have just started on a down-cycle that will be brutal.” Nice one Tor! best to keep positive eh?! Looks like Im in for the long haul, and it ****ing will be seeing as they're cutting tanker speeds to reduce costs. Oh well, Im off for a lie down below deck, see you in 2017! http://www.businessweek.com/news/2011-05-24/shipping-in-brutal-five-year-slump-frontline-s-troeim-says.html
Eddies feeling seasick! http://www.iii.co.uk/investment/detail/?display=news&code=cotn:FRO.L&action=article&articleid=8248410 Results out next Weds
Well, looks like I got that one wrong, not so exciting owning a £13.50 share, Id top up if I wasn't so skint! Hit it Mr Grant! www.youtube.com/watch?v=lcM3r1vUDxg&feature=related
www.iii.co.uk/investment/detail?code=cotn:HCL.L&display=news&it=le Looking good, divi of over 7%. Get yourself on the register! :)
What a day!!! Thought SLV was the rock in my portfolio until I realised we've not relisted yet, and a ****ing good job too. Looks like the BOD have played a blinder well done lads! Hopefully things will have blown over (radioactive materiels excluded) by the time we're back trading. If not we'll be staring at an instant drop to 30p no doubt :(
Trading has resumed! Pity, don't wat to see this tank back to 10p :(
Up and running on HSBC under new ticker, live price 13/13.5 but not sure any trades are going through as my 14p BUY has not been filled. Expecting some mm games taking advantage of the confusion this morning. No SRX board yet, Il leave the honours to you Corbs ;)
Iv got some actual work to attend to, there goes my place in history :)
Still trading under TXR on HSBC, put a buy in for 14p. Market sceptical about the new ticker, knew it should have been SIR :)
Nah, I was just going to make some inane comment then years later when we're down to $1 Billion resources and the SP's over a fiver Il look like some great mystical oracle from the past,, or more likely a twat
Catchy ! :) Wheres the new BB? I want to be the first poster and become 'the father of the board' :D
Thank you Pala! :)
On the contrary, my faith never waivered for a second :D Wish I could claim the millions but Im happy with my lot here and Il leave you stalwarts to savour the moment :) The alarm is set :)
for shrew read chancing!
And there I was getting exciting about the new ticker :D Topped up last week at 9p as well the shrew lucky f***** that I am ! Hoping for a little pointy blue arrow for tomoz, Heaven knows my PF need one
Ahoy you scurvy landlubbers, anyone still onboard the good ship HCL? Got some stormy weather on the horizon but I for one have decided to batten down the hatches and hold course. Dispensing of the nautical chatter, we're having it a bit rough at the moment. Down around 20% in a month, for a reason check the BDI which is currently plumbing the depths of late 08' when the index fell of a cliff. Also I think we might have an II seller in Juiptar AM taking a reduced stake. Still, Im always hearing that shipping is cyclical, so as the SP retreats maybe the best thing to do is hold our nerve and look to accumulate. Afterall we were trading well below NAV at 80p, and much of the poor outlook for 2011 should be factored in. Im a weak buyer at these prices on HCL and GPRT. Weak, literally as Iv got next to no cash left anyway. GL and hopefully we'll come out at the other side smiling :) :)