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TDH

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Super Contributor
Funny how the big volume spike comes the day before the sens!
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19 REPLIES 19
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Super Contributor
Seems to have given cco a little boost as well.
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Regular Contributor
Yup. One for the long haul this. Sometime they'll need to do something about the tradability - the stock is very illiquid.
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Super Contributor
Still significant volumes going through...
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Super Contributor
Been there bought this sold it and no regrets. "Private companies" are not my bag. If you are talking long haul you must be talking decades - at the moment you cannot buy a single garage of Kensington High street for the money this lot controls. Not "investment grade "to my mind.
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Super Contributor
Sang this song from down low, sweet chariot. Still like it for a host of reasons. This is not a simple single residential unit... it is a financial leverage story. It has the lawyers (incl. Wiese,) accountants and property managers you cannot afford if you look to assemble your own little property portfolio in the UK. I like quasi-private stories. Got in low and will hold and hold and hold.
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Super Contributor
I fully agree with you. Well thought out answer.
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Super Contributor
Firstly the financial leverage story it seems is risky and secondly its peanuts in value and thirdly why would I want to assemble a "property portfolio"(sic) based on Moorgate in the UK - I would much prefer to do that exercise in an under run market : continental Europe - France and Germany RPL springs to mind? Pick people who do what it says on the tin. not dabblers in this and that - financial services??? I have seen headless chickens with more ascertainable focus than this lot.
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Super Contributor
BUT Moorgate buys underperforming assets not "over run?" properties. The retail assets are being sold down to focus on financial assets. Property and money lending are - and always have been - joined at the hip. So your focus comment is a touch unfounded at best. The main shareholder is interesting and I hardly think he will sully his name here. Of course leverage carries risk - hence the slew of measures such as ROE, ROI, IRR ... to measure this aspect. Investment is all about leverage - or you would put your money in the bank. Europe is a mess... socialism, hyped up tax regimes, Russian gas reliance - no thanks... this is the very reason that the UK property market has run so hard. Nobody is saying that you should use this as the lynchpin in your portfolio; take what you are comfortable with. I took 200 000 at R6ish I am happy to hold.
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Super Contributor
This is my last holding through PSG. Held from R8.00. Had been thinking of selling to cash out with PSG. You have given me good reasons to revisit my decision. Mmm thanks for your comments on this Thresh. BOE comments on UK interest rates have spooked the UK property market?
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Super Contributor
BUT if local UK rates go up - the Pound will fly and you will benefit from the Rand conversion rate. If rates go up in general, - the markets will come off but the Rand looks to be teetering on the edge here; so again currency protection... you pick your poison, I guess... but this one comes with the antidote attached!
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Super Contributor
Moorgate buys second tier properties and that is enough reason to avoid them in a market which is not cheap. Secondly to say that "Europe is a mess" and then justify that with a list of ism's is simply not in point ( even if it were true which it clearly is not).Germany and France and Holland offer excellent property opp's. As to reputational damage? This is such a small cheese business for the main shareholder that I have no doubt if it all fell down he would walk away without so much as a second thought or the slightest of tarnishes on his impeccable suit.
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Super Contributor
Did you lose much on this one partridge?
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Super Contributor
His name would be bandied about, don't you worry. In any case - he owns most of this thing - so it is more about him protecting his money. French money is pushing English property prices. There was a programme on Bloomberg that asserted that London has more ultra wealthy French than Paris. All fleeing the 75% income AND capital gains tax rate. The Euro has moved into a negative rate scenario - so tell me how this is evidence of the underlying strength in these economies. "This" England has been around for centuries (Cromwell pretty much). Most European countries have been reinvented in the last 70 years and again in the last 20 (enter the Euro.) I fancy my chances with the tried and tested. Holland is another story again - but a tiny financial market compared to England.
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Super Contributor
BTW Russian gas and tax do not end in "-ism" So only socialism then. One "ism" does not a "list" make.
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Super Contributor
You guys are too analytical. On this day two years ago it closed at 620. Now it's at 1524 and still heading in the right direction. What more do you want?
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Super Contributor
Klapka's question deserves an answer - NO I did not lose money but I did not make money - a small trading cost loss - I saw what the route was and got off that " pound saver" bus.
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Super Contributor
Partridge - the risk here is that Mr. Wiese decides to shake out the minorities when he sees too much value in the company going forward. He already controls 85% of the company so it should be fairly easy to take it private. At that stage you can rub my face in your "I don't like private companies" comment. The again - he might pump it and use it to grow his overseas portfolio before moving (selling) his shares into investment houses to increase "liquidity" (yeah, that old game.) Or he might just pay minorities a fat premium to go away if things are looking rosy. Time will tell...
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Super Contributor
Or use rights issues to dilute the stubborn minorities into oblivion.
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Super Contributor
Or use rights issues to dilute the stubborn minorities into oblivion.
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