Member Info for rob229

Nice to see a couple of good-sized buys this morning. The number 29 is a lucky number for me. I am thinking we will see a close there on some day this week. Good luck to all IPP holders. We are going places.

Good day on 30.10.2013 The market is endorsing your analysis, which I very much enjoyed reading. I wondered whether one can with reasonable confidence accord similar multiples to companies which are quoted on different exchanges, e.g. London and NY. (I acknowledge that the market should accord similar multiples to such companies.) Anyway, AVAP is moving up, and I am delighted. For the reason that I already have a full position, I did not buy more AVAP shares after you posted your thoughts; maybe I should have done so. My Dillistone is behaving nicely too. I realize that you said that you are not strongly inclined to purchase shares in the software sector. Chacun a son gout, monsieur. I will look for some others. I realize that neither TLDH nor PLE is a balance sheet story. Each is a "go-go" share, and I think you may prefer to stay faraway. FCCN (named French Connection) is a balance sheet story, but I for one lean away from the fashion industry. Too fickle. If the shares trade down into the 35p range, I may be tempted. Maybe you could find out whether the label French Connection is regaining favor with young people in London. If so, I would like the story better. Wishing good luck to you and to all.

Good day to Camellia plc shareholders: I am a new holder, but I have watched the shares for a long time. I did not think I would find an attractive entry level. I think I found one within the past week or two. Nice to have observed a little buying @ 8549p this morning. rob229

Hello Mr Shan, I like the personality of the IPP share, discreet and resolutely focused on profit.

(I avoid the word old. Over here, we tell ourselves that we are as young as we feel.) Anyway, I am quite sure I crunched the numbers on my own before the 30 June '13 figures came out, and I found a good amount of under-valuation. The "Fundamentals" page on this site reports tangible equity @ 1.98 USD per share, based on the 30 June '13 figures. The British pound has firmed within the past few months from ~1.50 to ~1.60, but even at a 1.60 conversion, 1.98 USD very amply support the 100p offer price in my opinion. When you say you were using depreciated figures, maybe you mean as to the fleet of AVAP aircraft. (Not sure, just wondering.) Would be happy to read your further thoughts. I don't know if software companies are of any interest to you. They always look expensive to the experienced investors, but DSG seems reasonably priced when one considers that it is a software company. I missed the dividend to which shareholders in the beginning of last week were entitled, but I bought anyway. I think that DSG describes itself as having the highest-yielding software share quoted on the LSE. That tells me that DSG is shareholder-friendly. The trend with regard to revenues and earnings looks favorable to me.

I see that, if one posts a reply, the reply message is a little harder to see. Not so much point in writing if the intended addressee is going to have difficulty seeing my message. I did read the link to Wikipedia which you kindly posted, and yes, it informs one of a corporate history of accomplishment at ETO. I was interested in your remark that you think British investors are a superlative lot. (My phrase, paraphrasing yours.) I think you may be correct. I remember as a young American visitor to London (long before the days of the internet) I entered on a couple of occasions a public library in the City that contained hundreds of file drawers full of annual and interim reports from quoted companies. I remember seeing people of all ages reading the reports, taking notes and photocopying pages. I suppose it was called City Business Library or something like that. Maybe it is still there, or maybe it has been rendered obsolete by the internet. I think I found the Library after starting my day at the Museum in the Barbican where I learned inter alia about the great fire that had occurred in London perhaps 350 years ago. I do think that the Library of which I speak is or was just a short walk from the Barbican. So I am not inclined to disagree with you that British people are excellent investors. On that note, maybe you would care to mention other London-quoted shares that you follow. I am always on the look-out. I did not look yet this morning at DSG, but I have looked at it for a few days, and the trend feels promising to me. I also think PLE is interesting (though it may have a go-go feel that you do not favor). Lastly this morning (afternoon in England), I will mention a little co. that I found a few weeks ago by myself, symbol IPP; its equity market cap is roughly one times trailing revenues, and the businesses in which the company operates feel attractive to me. I am not a day trader. I prefer to see myself as a prudent speculator. My sense of courtesy tells me that it is not proper to expect a kind suggestion from an intelligent individual such as you without offering a couple of honest suggestions first. I am sure you understand that independent study is warranted before taking a position in any companies that I have mentioned. I am for real, but I may not always see the future as well as I would like to see it. A good October is wished to all. rob229

A pleasure to read your post this afternoon. I am not a gracefully aging stockbroker, but I am a gracefully aging lawyer. The market has been my hobby since I was in university. I have had the pleasure of knowing a few shrewd stockbrokers over the years, and I tried to learn how to spot opportunities away from the crowd. Your agreement with me on the merits of AVAP makes me feel better. I am not too sure how I found this company. I might have spotted the modest PE in the abbreviated column of the AIM list that appears in the New York edition of the Financial Times. Sometimes, that is a way for me to start my shopping list. Another company that might interest you is BPM. I would be pleased to know what you think. Do you invest only in shares quoted in London? Generally, I stay away from small-cap mining shares. I am not keen on the speculative fervor that those companies seem to attract. I had some shares of African Minerals (AMI) but I got out well before the recent good news.

I will join Chan in my posting my appreciation to doze for the 25.09.2013 post with attachment. In my opinion, abundant good news is in the attachment. Unless the markets worldwide grow unsettled by reason of the disagreeable political battles in the US regarding budgets, I am seeing a good week ahead for ETO. Good luck to all. rob229

This Avation plc shareholder from across the pond remains surprised to see that interest in this fine company remains somewhat limited. Where else might one find, whether in London or elsewhere, a modest PE, year-over-year revenue growth, significant holdings by the directorate, a corporate buy-back and shares quoted below tangible book value? If I am missing something, I hope someone will tell me what that might be. The reelection victory on this day by Angela Merkel should be favorable for markets generally too. Good luck to all in the coming week.

I am writing from the US. With respect to the metric of equity market cap to annual revenues, I may not know quite so much as others on this Board about companies quoted in London; but IPP reported revenues for the year ending 30 June '13 slightly above 8 million GBP while the equity market cap is essentially the same, 8 million GBP. When we're looking at a company that is enjoying revenue growth and a nice gross margin, I think this metric has applicability both in London and in NY. I would welcome responsive thoughts of others. I realize that enterprise value to revenues is a metric preferred by some investors; but in an era of low rates, I think it makes at least as much sense to look at the metric of equity market cap to annual revenues. Good luck to all.

If one takes the time to crunch the numbers in the report for the year ended 30 June 2013, Avation shares look attractively priced. The chairman, Mr. Chatfield, reports having made a large purchase @70 pence on (as I recall) 27 August 2013, i.e. following the release of the earnings news. Even at the higher level to which the shares have migrated, I see upside. One is paying up, but the shares are worth more than before the posting of the twelve-month figures. One caution . . . when you crunch the numbers, I would respectfully remind those here that Avation has made a change in its reporting currency. The report is now in US dollars. Still, I see opportunity. I don't think the goal which motivated Mr. Chatfield's purchase on 27 August was to make 8p per share. By the way, I am writing from the US. I do not know whether there is a rule on the LSE which precludes the directors from engaging in short-term trading, but I suspect that there is a rule to that effect. If someone here knows, I would be pleased to learn (even if I am wrong!). Good luck to all.