||EPS - Basic
||Market Cap (m)
|Construction & Materials
Carillion Share Discussion Threads
Showing 4076 to 4099 of 4100 messages
|Hopefully a bottom and not a plateau before another move down.|
|Only 350p. They would snap it up with a pe under 12 at that price. It just shows how cheap this compay is !!!|
|It's what is called "fake news".|
|Any evidence for that or is it just wishful thinking ?|
|Overseas predator target, potential bidder to pay over 350p. Dyor as usual|
|I subscribe to the IC and it is a very good magazine. You have to ignore the tips though as they are just froth no different from the racing tips. The strength is actually the amount of information in each issue, they have very good coverage of company results and investment trusts for example. Also their economics and longer term macro coverage I find very useful.|
|IC has multiple articles each issue, written by correspondents who can only give superficial attention to detail. Their job is to fill up column inches and get the punters interested enough to buy the next issue.|
|Once attended a company lunch with a chap who became Lex editor-in-chief. He asked next to no questions at all, I had to drive the entire meeting to keep it going. Never wanted to look at Lex again, which probably has a maximum contributor age of 26!
Another ex-Lex editor, Hugo Dixon, spearheading the campaign to stop Brexit. Zzzz..|
|IC. just another opinion, you makes ur own in this world, it offers a contrarian view, about it, never taken any of it literally, the Lex column in the FT. About as good and honest an opinion you will get these days!|
|Bearbull isn't the column it used too be. The current Bearbull isn't the best there has ever been to say the very least. I can't fathom some of the reasoning or the choice of stocks. It's a column of waffle.
Whilst I'm on the subject, IC columnist John Rosier isn't the greatest stock picker either. His real life portfolio is an eclectic collection of odds and ends. No wonder he had a poor 2016.
Rant over. I still find IC useful as a weekly digest of stock market matters.|
|A sure sign it's set to rise then!!|
|FWIW Mr Bearbull (Investors Chronicle) has finally called time on his CLLN holding in his income portfolio...
"With that in mind, my first task of 2017 has been to sell the portfolio's holding in construction-services group Carillion (CLLN) - see Bearbull 7 October 2016. The share price - at 237p - is below its stop-loss level and the disposal frees up some capital to go searching for something new in these inflated markets."
The link to his 7 October 2016 article referred to above is HTTP://www.investorschronicle.co.uk/2016/10/04/comment/mr-bearbull/putting-the-bludgeon-in-rZWGLNp4K9EHtHOSaGNzzI/article.html|
|I feel great about this share as it give me small profit for my small holding at the moment. I believe it will give me more profit in due course together with handsome dividend payouts down the line.|
|I was just thinking this was a mature polite debate.....|
|Yeah, it's boring|
|Comments on my above post will be welcomed.|
|Convertible bond provides the investors an income by paying them interest. Buying a convertible bond similar to buying a bond with a call option. MRW as an issuer who sells the bonds to raise money with an interest offer to the buyers (the part of bond) and an option to convert the bond for shares in an agreed price at the maturity of the bonds (the part of call option)If the bond holder decided to convert the bonds to shares eventually. The issuer issues more shares or gets shares from the reserve. The bond holders get their shares and the issuer has its debt erased. Happy partners!I believe the shorting operation will be familiar to all the investors on the discussion board. So, no further explanation will be provided.|
|Lord Gnome - you are right, if the shorters and the holders of the convertibles are not the same institutions, the operation is not called convertible arbitrage.|
|But if the shorters and the holders of the convertibles are not the same institutions, it isn't happening. There is no convertible arbitrage.|
|Therefore, nobody should try to label Convertible Arbitrary as a guaranteed winning strategy in investment.|
|Convertible arbitrage involves the simultaneous purchase of convertible bond and the short selling of the same issuer's shares, MRW is the issuer in our case. As I said there is no guaranteed winning formulae in investment or, in fact, in anything in our life. In early 2005 many convertible arbitrageurs suffered losses when the credit of General Motor was downgraded at the same time Kirk Kerkorian was making an offer for GM's stock. Since most arbitrageurs were long GM debt and short the equity, they were hurt on both sides. Going back a lot further, many such "arbs" sustained big losses in the so-called "crash of '87"Some of the risks are listed on the page 6 of the document posted by M4tinu HTTp://www.aima.org/filemanager/root/site_assets/canada/publications/strategy_paper_-_convertible_arbitrage_english_.pdf The risks mentioned are extracted as follows:"The following are the key risk factors of a convertible arbitrage strategy: 1. Credit: The majority of CBs are below investment grade or not rated, so there is significant default risk. Much of this risk is hedged via short stock positions, but managers with a relatively low hedge ratio may need to hedge credit risk using credit default swaps (CDSs). 2. Interest Rate: Longer maturity CBs are sensitive to interest rates, and while short stocks are a natural hedge, lower hedge ratios may require additional protection. 3. Call: CBs are often bought at premium prices, so call risk generally guarantees a loss on the position as the bond will be called at par. Call risk may diminish as interest rates rise. (Bond indentures typically include protection against other company-specific events, such as mergers and dividend increases.) 4. Manager: Managers may incorrectly value a CB and/or short an incorrect amount of stock. If valuations are wrong and/or credit risk increases, the bond floor could be reduced or eliminated. (Note: Manager risk also includes the firm's operational risk.) 6 Ibid, Page 23. Convertible Arbitrage Strategy Paper © 2006 AIMA Canada 5. Leverage: Borrowed funds magnify returns from the generally stable relationship between the long bond and the short stock. However, borrowed funds also magnify the risk of losses. 6. Liquidity and Execution: The manager's ability to enter/exit a position with minimal market impact directly affects profitability. 7. Stock Loan: An effective hedge depends on how reliably and cost-effectively shares can be borrowed and sold short. A prime broker well suited to the manager's particular market helps to ensure sound trade execution and secure stock loan. 8. Counterparty: Using a large and well-capitalized prime broker assists in minimizing counterparty risk. 9. Basis Risk: Since hedge funds are thought to hold more than 60% of the outstanding convertible bonds in the U.S., there is a potential lack of liquidity in down markets. Hence, there is a risk that all CB prices may depreciate together regardless of the underlying CB valuations. "|
We are talking at slightly crossed purposes. Yes, I agree the shorters have made money. I was actually referring to the company itself which I still belive could have a good future for its shareholders.|
|I suppose the question is: when will the shorters take their profit? Sometime before Dec 2019 :)|