Member Info for schwee

Is Venkat the one and the same who was a fine spinner for India!

It looks as though investors in the know got up at dawn today to swoop. Happy days.

Offer for Noront upped today, but RNS does not state how much it is going to cost us owners of BHP. As usual, BOD views shareholders as a nuisance.

The reason there is such a large discount to NAV is coz there is too much debt and that when it comes to renewing will be costly to reflect the risk. Buybacks just exacerbate this exposure. Only hope is for the Ziffs to take Town legally private, rather than the current position of being private in all but name.

Costs are too high in relation to its AUM.

Almost totally devoted to units. Only cryptic minimal messages about Revenues, margins, profitability and cash. Not worth the paper it is printed on.

The update today mentions nothing about trading i.e. revenues, margins, profitability, cash. But only funds under management which in isolation is pointless.

Coz there are several lenders, and they all want to be at the top of the pecking order.

RNS as it is obligated to be was available on the London Stock Exchange's website at 7.00 a.m. I would say very encouraging, but as always I disagree with share buybacks. Shows a lack of ambition.

They bang on about ESG and how they have exited tobacco and some energy companies. But then there are exceptions to the rule: other energy companies, alcohol. Bah Humbug.

Card are talking about sales in 2026, not profit or ROCE. So who knows whether £600m of sales is good or bad.

Looks like management hubris to me. Just concentrate on the here and now is my advice,

Change of name, change of management, plus ca change mais etc etc.

In making their forecasts, the teenage scribblers must be making assumptions about future oil and gas prices. They have no idea what these will be in an hour's time, let alone next year and further. All hocus pocus ramping.

Discount is because their costs and dividend payments exceed their income. Hence they are gradually shrinking. This was occurring pre covid, so until they can demonstrate in cash terms that they are growing, the discount will probably persist.

Because of BHP's over reliance on its iron ore trade with China, disposing of its oil business is very poor management judgement. I accept the environmental arguments, but these are not altered by a change of ownership.

Fast growing company changing hands at just 10x earnings. Plus stuffed with cash and rightly very wary of dealing with China no doubt because of IP protection.

However Woodside are only looking into an LSE listing. Do not hold your breath. As BHP want to sell these assets, they should only do so for cash, or alternatively just run them down on a care and maintenance strategy.

The common pattern across these companies inc Costain is that they are mature businesses which are putting in a lot of effort for not much return and hoping something will turn up. Inflation?

And the predators are now circling.

Another loss. Basket case.