On the other hand...19 Mar 2014 14:34
I’m new to this forum so unsure of etiquette (sure if I overstep the mark someone will enlighten me).
As a small shareholder I wonder am I looking at the same company that some of the regular posters on here appear to see?
I see a company that in the face of challenges in the marketplace, domestic and global, have continued to drive turnover and profits upwards, have continued to increase dividends to shareholders, and appear to be pretty nimble when it comes to spotting opportunities and then grabbing them. Sure, like any large company, Hargreaves has faced disappointments and setbacks: show me a large ‘traditional industry’ enterprise that hasn’t and I’ll invest in them tomorrow, thanks! I like it that the current Hargreaves management team always have something up their sleeves; they see potential and then they don’t fanny about. They see a profit to be turned and go for it – you only have to look at what they’ve done in Scotland. So what if, here and now, in March 2014 those new Scottish interests haven’t yet made spectacular returns. Magical instant profit is not the name of this particular game; there’s potential there and it’ll come good in time. Didn’t Hargreaves do a large fundraise last year, a war-chest set up so they could strike at opportunities quickly? Would they/could they have raised that £40m+ if investors doubted their ability to deliver? None of us, surely, invest for pure sentimental value! I know I don’t....
I can’t help thinking that some on this forum (and I’m looking at you Goldcoaster) have somewhere down the line got a little bit burned (maybe selling and buying at the wrong time and not watching the wider market as well as you could have done?). I’m assuming, of course, Goldcoaster, that you ARE a shareholder? Or do just have too much time on your hands?
And MrsMoneybags: You’ve been ‘chastened’ by your experience with companies that Hargreaves has bought into? I can understand you being a sceptic; I’ll bet we’ve all been ‘chastened’ somewhere down the line, but I like to see Hargreaves having the confidence to spot HOW and WHY others made mistakes – and then go in with a plan not to repeat history, but to create some new history.
Sorry to bang on at such length, but I’ve gone from being a curious and passive onlooker to the point where I had to have my two penn’orth...Keep the faith