Member Info for unhooked

11.45p to sell? That is another all-time low. It's quite incredible how the share price of this trust has fallen on a constant & consistent basis for the entire time since its creation. We're talking 9 years! I doubt any other trust on the UK market could match it. Sure, some trusts have imploded quickly but the unremitting slow-burn decline of this one is, as I say, unique. My original investment is worth a pittance now, and I'm not going to sell. I plan to see this one through to the bitter end, probably a wind-up, it's gonna be an education!

It's a little unfair calling Train "a serial underperformer". No doubt his idiosyncratic approach is out of sync with current markets but LTHs in his investments have been well rewarded. However, he certainly isn't an activist investor (mores the pity), so while he may 'politely engage' with management, we can't rely on Train providing a catalyst by means of some sort of 'corporate agitation'... unfortunately... it's just not his style. On the other hand, I don't think he'll sell BRBY either, his way is almost always to stick it out.

I'm not invested with him (although I used to be), but I do like Train. I enjoy his writing and I find him engaging and honest in interviews. I once remember him being questioned about BRBY some time before its recent problems and in that interview he strongly hinted that if he wasn't tied to a UK mandate he might have preferred LVMH, but that within UK markets, BRBY was the only sensible way to play the 'luxury' theme . A compromised choice perhaps?

Meanwhile, sp has broken below £7...

finsbury growth & income trust manager nick train argued burberry’s recently appointed ceo joshua schulman and his fellow executives need to consider how to unlock the brand’s potential in the face of its declining share price.

his comments came after the luxury fashion group replaced its former ceo jonathan akeroyd on monday (15 july) and issued a fresh profit warning.

the news led to a 20% slump in burberry's share price, which has continued to fall as markets opened today. according to data from marketwatch, the firm's shares are down almost 4% so far.

train has been a long-term investor in burberry via finsbury growth & income, and has repeatedly backed the company despite its declining share price damaging the trust's own performance.

since the beginning of july, three firms have publicly taken a short position on burberry, according to the financial conduction authority: marshall wace llp (2.6%), ahl partners (0.7%), and millennium international management (1%).

in the trust's latest monthly update, train said that while he agrees with burberry's new ceo that the company is an "extraordinary luxury brand, *****essentially british, equal parts heritage and innovation [...] it is clear he and his fellow executives need to rethink how to fulfil the brand's potential".

he said finsbury growth & income is continuing to engage with the fashion house's executives and the board "at what is an important juncture for the business".

Wow, he only bought this morning... they didn't hang around around in publishing that RNS !

As stated, "720p is far too cheap and nowhere near reflects fair value". Chairman's buy confirms it.

If the US economy is turning downwards that will only hasten drops in the interest rate and drops in the interest rate will only make it cheaper for PE outfits to finance buyouts of companies like BRBY. One way or another, 720p is far too cheap and nowhere near reflects fair value imo.

Share price reaction says more convincing needs to be done. It's a tough gig here in pioneering biotech world!

Vox Market's Paul Hill, a long-term bull, compares Verici to Bioventix (one of the most profitable companies on AIM) this morning.... well, I'm in Bioventix and you really need the rosiest of rose-tinted spectacles to see that comparison!

The worst thing is they now seem to be at a loss as to the right strategy to monetise the brand going forward. Previously it was all about taking the brand upmarket with firmer pricing and eliminating the discounted lines. That hasn't worked, either because it was the wrong strategy or was poorly executed. Today they tell us they want to expand their product range to include "a broader everyday luxury offer". So, does that mean we're back to the discounting and the taking of the brand downmarket?

Hindsight's a wonderful thing but should've seen the red flag when Burberry lost their chief designer Riccardo Tisci a couple of years ago. They have lost their way. We need better leadership than this revolving door of management and designers.

Monsieur Bernard Arnault, please buy us!

Hidden value *extremely* well hidden?

Thought I'd check in for the latest Boohoo gossip, because it's so hard to contain my excitement. Must say it's been a great investment this one - breathless performance - I can barely keep up!

That's quite a radical decision. While unusual, it's by no means unheard of that fatalities occur at mines. Indeed, I'm pretty sure that Atlantic RNS'd another one a year or two back. It does happen.

As suggested by others, management will take this seriously because they take a modern, ESG-compliant approach - they would not have obtained local institutional support if that wasn't the case. Not a day to sell for me.

AUM down 6.8% in the quarter. That's a fairly hefty (and unexpected, at least to me) reduction.

Nonetheless, I remain confident that this nicely differentiated asset manager will recover in the medium term. Additionally, I rate Ian Simm highly and he has plenty of skin in the game. As such, I've been happy to take the opportunity this morning to average down. Be amazed if this hasn't recovered substantially within 2 years. In the meantime, a secure 7% yield looks A-OK to me.

Of course, v unfortunate. Share price suffering this morning...

Thanks for posting the (truncated) article - we didn't get the end unfortunately.

Anyway, not sure any of it adds up to 'a stonking sell now'. It was a stonking sell at £20, no doubt.

P.S. I also like that the CEO voluntarily forwent a £2.6m bonus recently. Good governance - on the AIM market they'd pocket that.

* I didn't wish it, but I fell for it.

Problem is, this is a cigar-butt company. Dirt cheap and dirt cheap for a reason: an indebted, low-quality business operating under razor-thin margins. In other words, a value trap.

I understand all this now. Sadly, back in the day wish I fell for their so-called 'turnaround plan'.

For 18 months the sp has been around the 34p mark.

The opportunity cost of holding onto these non-dividend paying shares is something that's becoming increasingly hard to ignore...

Frustratingly, the Alliance Pharma news only caused a temporary spike.

So bl**dy hard to catch a breeze on the AIM market...

Richard Staveley putting himself on every outlet. This time we get an explanation as to why they were recently buying shares and then suddenly started trimming (says they got cold feet and felt overexposed).

https://www.youtube.com/watch?v=UPfCJ_v51Jo

Https://www.youtube.com/watch?v=UPfCJ_v51Jo