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I really can not understand why anyone would bother to write such drivel as Porsche has when invested in this share. If he doesn't believe in it then why invest in it? If he's not invested then why bother to search out random forums to spout bile?
PHNX is a good company. It's just gone ex dividend with the corresponding drop in the SP along with a change in accounting procedure allowing Walter Mittys to attack the share.
It would be a joke except for the abuse and bile.
Nicknaim,
Indeed. PHNX and LGEN are in the same group of companies yet PHNX is the one getting hit. Maybe there are chinks in their amour with the new accountancy procedures that can be manipulated by shorters but it would seem many companies use the same procedures. I can only see this attack ending shortly as common sense returns. Many do reinvest their dividends and it will probably be at a good price. I see no reason for future dividends to be cut and so the % annual return will only increase.
If what Toff says is true then he's probably a very disgruntled investor who got in at 623p and is just releasing his bile on a forum.
Nicknaim,
The proof is in the share dropping. Why would the share of a perfectly good company drop so harshly? It's not the individuals working alone who come onto forums. It's the individuals working for the investment management companies, with their financial clout and expertise, that collectively push the SP down.
The direct question. Might work. But why would anyone be bothered to come on here and inform us all that this is going down unless that is what they want? Shorters achieve their target by the share dropping. Some of them scare people by frightening them into selling. Toff's long post will do that to some. Some will also sell thinking they can come back in at a cheaper price. Amounts to the same thing. Companies and employees of those companies get damaged by shorters.
So Toff and others appear again when the SP drops again and insult our intelligence for investing in such a share.
I've been questioned as to why they are shorters. Why else would anyone come on to a forum to ridicule the investment that others may wish to make? Personally I don't bother with shares I'm not involved with. So they are involved and wish to abuse us all of our investment.
If they think PNX is a 'dog' (or worse) they should really try many AIM shares. PHNX is a sensible, stable company with a good financial position. It's just the change in the accountancy system being latched onto with a Standard Life pensioner's accountant husband criticising the system when the experts chose to use it. So some investors panic, sell shares and the SP drops fulfilling the shorters wish. As soon as this rises again they will disappear again.
Shorters see weakness in the share because of the accountancy changes, latch onto that with doom laden predictions and the unwary sell in a panic.
The company can afford the dividend and is predicting a 5% increase next year. That would be 27.3p pay out twice a year. 54.6p annually. Buying in now locks in a 12% annual return. Where else can you get that income return?
The Times article has one concerned person who appears to be an accountant and husband of a Standard Life pension owner who doesn't like the new accountancy system. We're supposed to accept that as evidence that it's no good? Major companies like Phoenix use such a system with their high powered experts and we are supposed to accept the view of a disgruntled Standard Life pensioner?
Quote from Toff in reply to me:
"I predict Phoenix will continue to plunge tomorrow.
When a stock goes ex dividend, especially an Uber dog like this one, it continues to drift for days afterwards.
Listen and learn so next time you won’t make the same mistake."
At best extreme arrogance. At worst a shorter being condescending and abusive in an attempt to persuade others to sell to fulfill their aim of dropping the SP substantially.
Shorting would seem to be a legitimate activity. However the crass antics they deploy make it into the worst type as they try to get you to sell at a loss to achieve their target of buying back borrowed shares at a cheaper price to make a profit.