The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
http://www.investegate.co.uk/Article.aspx?id=201005210701083119M Profit of £36.0 million versus 2009 first half loss of £30.9 million. Net Asset Value increases to £7.36 per share from £6.89. Continued steady progress in construction with first residential buildings completed at Hiranandani Palace Gardens Chennai township.
thanks for that. Your research is a credit to you. This may indeed have bottomed but we'll have to see.
It does seem like a huge package (missus!) and we should see some recovery this week, but I'm still not convinced. I see URU is down 64%. I think I'll buy some - maybe get a dividend! LOL IQE up a penny as well! Sorry folks; that's me finished with non-EML talk now.
It's not really related to EML so apologies to all but it's the weekend and syntaxity did ask. Although short term, it's impossible to tell what the FTSE will do (a bounce after the horrendous last week is possible) but more medium to long term, I'm starting to get very bearish. And I think it's all down to Greece and the wider Euro question. I don't want to sound all UKIP'y but a journalist from the NY Times on Bloomberg put it perfectly last night. To be brief, he said that Greece now has to reduce spending and put up taxes. This will prevent it from growing its economy. The only way to grow is to let its currency fall to make its goods (or tourism, I suppose) more competitive. In the euro, it can't do that so, effectively, it's trading internationally as if it was Germany! Surely that can't last. Surely, sooner or later, the Greeks will be begging to leave the euro. I could go on for ages but I'm worried about euro fears sparking a Lehmans style sell off. I sold about a fifth of my stocks ealy last week and now I wish I'd sold a few more. Although most of my companies are either gold stocks or "couldn't possibly go any lower" (he said, hopefully). I thought long and hard about selling IQE; a share we're both in - although I think you wisely sold around 20p. I'm in since 5p without top slicing and now I've grown very attached to it. Big mistake. So, in conclusion; not sure yet, but maybe it's starting all over again
I really hate to say this and I would wait for a second opinion (although Syntaxity has already given his) but I would cut my losses if I were you. If you invested on the ex-divi day hoping for the payout, well then, you miscalculated, made a boo-boo, and hopefully, are the wiser for it. As you say, you're a bit of a rookie (aren't we all?) I sold at 3p but intend to reinvest after 30 days (to take advantage of the CGT write-off) when I think (IMHO) the price will be under 1.87p. With markets going the way they are at the moment, could be a lot lower. Even then, it'll be a long term investment.
Just come back to work to realise that, with all this nonsense, I got mixed up in my dates. (i do know how this works, even though I look like a div at the moment!). Yet again, syntaxity is correct. The day it goes ex-divi is the the day the divi will no longer be paid, s you had to be on the register at close of business on the 27th. Well obviously really. Apart from my little mix-up, you guys didn't think that would be able to buy a share at 3p and automatically get a dividend of 7.13p did you? In what universe? And as syntaxity says, that's why the Sp plummeted. Sincerest apologies to all - especially those who thought better of me!
banxi - if you held on the 28th at the close of business, you'll still get the divi Illhavesome - the divi didn't come from "extra funds". They sold assets (which are obviously included in the SP) and they decided to take the proceeds from the sale off the balance sheet and give them to us. So syntaxity is correct when he says that, in theory, we should be at 1.87p. However, even at 9p (I.87p now) that wasn't taking into account the full NAV. But EML has historically never been anywhere near its full NAV. This is why I sold yesterday, in the hope, that in 30 days' time I can buy back in with the divi i receive on the 18th. I'm confident that my plan will work because EML has always been a share for the patient. GLA
many thanks for that mate.
The relevant dates are at the bottom of the RNS. http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10435110
No it's gonna drop to 1.5p or thereabouts but even then it'll still be undervalued. But go on the EML page on iii.co.uk and read the last three pages or so - since the announcement - all your questions will be answered I intend to be more EML with the bulk of the money but D and M don't seem to be in a hurry so don't expect fireworks soon.
thanks and good luck with angm and hrco (especially since I'm in both those as well!)
well, if I'm in it's thanks to your tip...which I sat on for a fair while looking for a good entry point, which I then got after the placement drop. CHL had a good day today as well (another of your old tips from a fair way back). Have you any thoughts on a similar company KLG? GedW has just recommended it and, although it does look oversold, the techs aren't everything. I'm currently reading up on it. Sorry to all for the off-topic question. A coal producer in Indonesia could be further removed from PIM!
from all those exclamation marks, I take it you haven't bought back in yet.
good find, thanks (good call on VLE as well)
... any ideas? The technicals looked a little oversold, but not conclusive (IMHO)
Agreed, it's a very large spread but it's not too dis-similar from its spread before the big fall when it was 26-29p. True this is an even bigger percentage and will deter buyers (like me at the time) but maybe it's par for the course. I wouldn't expect too much excitement here for the foreseeable. A long-termer, but a good one
well someone just bought 40,000 and 200,000 at 11.46. You're just not trying hard enough! LOL