Chesnara Share Discussion Threads

[webclick99] 03/3/2016 08:57

I think this is the link. Investigation against several Life companies. Countrywide being owned by Chesnara


This will take some time I suspect

[webclick99] 03/3/2016 08:48

Anyone understand this morning's RNS just issued. Related to CSN specifically or a wider market investigation?

[sogoesit] 20/2/2016 04:34

Eastbourne ("very frustrating to hold").... not at all. For me it's a quasi-bond.
If it's a reasonable size in a portfolio you'd be amazed at the stabilising effect it has, especially in falling markets, on overall volatility.
Held, and accumulated, since 2008.

[jonwig] 17/2/2016 18:46

Well done CWA!

FY results scheduled for 30 March.

[cwa1] 17/2/2016 18:30

Evening jonwig

I put an order on the book today for a few and got partially filled through a(non robot!)AT, so happy to pick up a few but not as many as I was looking for. Hopefully get a few more over the coming days. Good fortune to all.

[eastbourne1982] 17/2/2016 17:34

Look at the one year chart, been zig zagging for ages, great trading share, must be a very frustrating long term hold, I've no position however I'd be tempted to trade it again from around £3.15, done it several times during the last few months.

[thuja2] 17/2/2016 17:29

Any ideas why it is all over the place

[hieronymous1] 14/1/2016 20:30

Per Sharescope, it is 0.32

[jonwig] 14/1/2016 20:30

According to Digital Look, it's 0.4, which looks about right.

[pvb] 14/1/2016 20:20

It's N/A on Yahoo! Finance. :-)

[fangorn2] 14/1/2016 20:17

@PVB,

What's "Chesnara's" beta?

[pvb] 14/1/2016 19:58

Why does this share seem to move in the opposite direction to market moves?

I am begining to wonder if I should buy more as a hedge against the market. I bet if I did the relationship would break down. :-(

[deadly] 08/1/2016 14:30

Sharp pop today to 352p. Someone's keen.

[deadly] 08/12/2015 16:44

Sharp rise at the end, against the dire market.

[bscuit] 06/12/2015 11:13

Thanks, I guess I subliminally knew the basics, but suspect market short-termism will impact the share price immediately but it will recover in the longer term.

[jonwig] 06/12/2015 06:23

Bscuit - but if you don't ask ... !!

Life insurers are affected by interest rate rises. They hold a lot of fixed interest, so the value of these falls; on the other hand, as the holdings mature they can re-invest for a higher return.
Also, future cashflows are calculated using a discount rate. If this rises, future returns fall.

It's a bit complicated, but the net effect is only serious if interest rate rises are savage. Fortunately this isn't very likely.

[bscuit] 05/12/2015 21:19

Thanks.....crawling back into hole. Presumably PHNX vulnerable to base rate rise?

[jonwig] 05/12/2015 16:31

I think CSN is quite committed to its "live" Swedish subsidiary (Movestic, as was). A merger with PHNX would probably mean selling that.

As Ch20 says, corporate models ...

PHNX loaded with debt, CSN very little.
CSN a standard Solvency 2 model, PHNX an individual one.
CSN trading at a small premium to EEV, PHNX a big discount: PHNX shareholders would be diluted by any acquisition unless it was discounted.

[chairman20] 05/12/2015 15:19

Bscuit totally different corporate models
I would have thought

[bscuit] 05/12/2015 15:18

IC mentions PHNX and CSN in the same note in an article on Merger Masters. We hold both in different portfolios. Similar models....cost savings?

[jonwig] 04/12/2015 07:38

No, I've heard of it though.

Local library has copies so will get one. Thanks.

[pvb] 03/12/2015 21:10

Read 'Flash Boys', by Michael Lewis?

[jonwig] 03/12/2015 14:24

There was a flurry of AT bot trades here in Oct, Nov. Price volatility very worrying.
The other day I had a definitive answer to what's going on, from a senior stockbroker at a social do.

It's a hedge fund working arbitrage trades between a dark pool and the LSE. The latter are small size of numerous fills in the order book whilst the former could be a very large trade.
There is little chance of a PI taking advantage, because either he can't get a quote from a MM close to the AT trades (MMs often retire from the contest by widening their spread) or, most important, because the PI can see only one side of the operation: the LSE trades data.

I understand there's a lot of this going on. Grin and bear it.

[deadly] 19/11/2015 12:35

Solid statement today: re Movestic:

Recruitment to our sales team together with a gradual improvement in the relative attractiveness of Unit Linked contracts compared to traditional contracts, means we are expecting the improvements seen during Q3 to continue into the final quarter