Member Info for salmac

I took a £500 punt on this cat pish back in September 2021 after listening to a UK Investor Magazine podcast where this bloke called Alan Green was touting it talking about all kinds of things the company was doing and the most laughable part is when he coolly says “haha to coin a phrase this company has struck gold”. I thought I’ll give it a go but yes lesson learnt don’t take advice off people who know what they are talking about.

If anyone wants a giggle this was the original podcast

https://ukinvestormagazine.co.uk/entain-uk-buy-outs-and-mineral-company-selection-with-alan-green/

Starts around 14min

Yes, on your comment about the BOD the issue here and why this has become a potential target is due to the unfortunate passing of John Barton, the chairman who would have had the knowledge to scrutinize any takeover. Now there is an interim Chairman who may not have the experience or even the incentive to be very concerned about what is offered. But as people have also mentioned Ted has a heavily invested group of institutional’s who id like to think will not allow a poor offer. Will be an interesting few weeks - I believe sycamore have until mid April to officially make an offer.

This timing of this news today could not have been any worse! It has been completely overshadowed by what has happened in Ukraine. Hopefully the market will recognise the progress soon after. GLA

*The rumour is VF Corp are looking at TED...£3.50*

I heard Tesla are looking to buy for £7.00 a share

Investors Chronicle wrote an article a week ago highlighting the failed testing on the body armor.. was this not mentioned in any updates? Seems odd

https://www.investorschronicle.co.uk/ideas/2021/11/04/avon-protection-s-rebirth-has-been-a-painful-one/

Really disappointing update today. I could have wrote it. Seemed to have glossed over a lot of important fragments. Good to hear that the business expects maintaining its high margins… but a little more detail would have been nice. Also looked like a bit of a copy and paste job from previous updates on the matter of record low interest rates.. but made no mention to the likely rise soon. A little bit more insight into their expectations for this would have also helped.

I don’t think this Kallu fella comes on here as a paid deramper. Although this site can occasionally be a good source of conversation and knowledge surrounding markets I think people risk giving it too much credit in its capability of being able to impact share prices movements in the way we see. I’ve been professionally managing money for the past 6 years and only discovered LSE earlier this year during the wild (and profitable) ride of Amigo. So to pay someone to try and deramp or whatever to me just seems to be a waste of money.
I think what it is is people like Kallu have made investments in competing industries or companies and so as a form of confirmation bias they use the downfall of their own competitors and cherry pick bits of research or will go out of their way in incredible depth to do whatever it takes to support their own decisions, without much rationality. It’s just a known psychology of people who are uneasy in the investment world. People love to be able to say “I told you so”. It makes them feel like they are the smartest in the room. It probably helps him sleep at night and so we should just let these people who are new to the game enjoy their newfound intelligence. Bless him.
On Boohoo the business, I would echo some of the few diamonds in the rough on this board (as in actual investors not speculators) in that Boohoo is still in a great position with a promising outlook. I am really not concerned that overall profit is going to be 0.5% below previous expectations. It’s a growing business with strong long term prospects. If people are concerned with the recent market price movements it’s worth noting that historically some of the best performing enterprise's over long time horizons have had the most volatile price movements across short time periods, especially these types of well known company’s as it attracts a lot of noise and activity. Just continue to enjoy the actual business and trade updates and forget about everything else.

Hi Kallu, it’s nice to see you clearly have a passion for your own investment in ABF. But I’m just a bit confused as to why you need to consistently vomit out your own perception and ideas between Boohoo and Primark. If you were coming from an educational point of view, fair enough. But you seem to be sat here continuously with this sort of “I told you so attitude”. Why do you care? It sounds to me as if you are not of the stable investor mind you're portraying and have to justify you’re own investments and safeguard your mental state by unloading about Boohoo. If you are confident with your position in Primark then best of luck.. goodbye?

I do find it comical how these businesses in the short term can never do right for Mr. Market. Today there is a focus on a drop in profits, which is perfectly reasonable considering current trading conditions and Boohoos continued investment in its operations. But this has been taken negatively. And yet, if profits were up in today’s update but revenues were down, I’m sure this would also be perceived as wrong. Maybe it’s just something we have to put up with being British and the doom and gloom culture we all love

Since their most recent update, none of the fundamentals have changed. And from that update they were very good. There is minimal debt, they have a very healthy current ratio with high cash reserves that should allow them to weather the decline in business that is likely to occur from the drama in China. However during the pandemic Ferrexpo were able to easily pivot business to Asia when Europe was struggling. My hope is that this can be reversed as from what’s going on there is likely going to be a huge contraction in demand from China, which I think made up around 40% of business in their last update. But overall, I believe this is still a very good pick in the long term

Hopin, what negativity are you seeing.

Totally agree with this, it's why Amigo initially became a fantastic opportunity for small investors who do not have to abide by internal compliances, expose themselves to certain market cap sizes or certain risk etc. People just need to relax and stop hanging onto every little bit of news that comes out between now and the 19th. Whilst I feel it is likely the SOA is going to go ahead, based on the outcome we received this week and inspite of the FBA shenannigans, there is still an element of unpredictability, but if you are committed and believe Amigo is destine to continue as a business then just keep the faith and most importantly don't let these planks who have recently come on try and sway your opinion.

Agreed. I’m actually sat here laughing at the panic. It just amazes me how bipolar people are. But I suppose that’s why these boards exist

Typical example today of why the majority of people should not get into the markets. They simply can’t handle being involved in any Rocky territory at all and just expect the price to rocket everyday without any patience. I would have thought everyone who has put money into Amigo and comments on here is there for the long run and therefore know that fundamentally this is a good investment and would actually be able to take positivity from the RNS today. But no, people don’t think they just immediately panic and start throwing out how they were manipulated by rampers and sell out. Then will be back in a few months depressed that they didn’t hold on. If you can’t handle it just leave the game along or just turn your phone off for the day.

Who is Wolfgang Grabher

Dylann, I don't think it will be right or necessary to pay out any dividends in the short term to us. The key for us is to get back to lending and good levels of profitability. Don't forget if the SOA goes ahead, part of the condition is apportioning a % of profits to claimants. If Amigo can do that whilst enusring it maintains it's historical high level of liquidity that will be much more valuable.

That was at CryptoChris btw.

This sounds so bitter. Regardless of how much money is invovled you can still be down to earth.

If customers are using Trustpilot to sway the vote then we should too. Not from a shareholder perspective but I feel somebody needs to address the fact that if Amigo follows the same fate as QQ, Wonga, TMS and falls into administration then these customers are going to be worse off. So I really don't understand what they are trying to achieve here. The situation is also quite frustrating to read, again not speaking as a shareholder but why on earth people are allowed to complain because they cannot repay a loan is just crazy to me. I feel there is a warped culture in this country that gets a kick out of bringing down a company, it's like a "mini triumph" to be apart of bringing an institution down.

If you look back at her previously articles regarding the money shop it shows how contradictory she is. TMS tried to setup a similar scheme as Amigo but went into administration prior to setting it up and now because of that claimants are struggling to recoup compensation. She mentions all this in her waffling “look at me, I’m retired and right blogs all day” smug tone and yet she is now saying that it is advantageous for Amigo to follow the same faint. If you read up the history of wonga/quickquid/themoneyshop these all went into admin and the customers did not receive their expected redress payments. There is so much historical evidence to support the need to keep amigo above water. From all perspectives: it’s industry/the economy as a whole/it’s customers and it’s supportive shareholders.