|Up another 67p on the month and great to see its driven largely by valuation gains. GLA?|
|hpcg - your right - unless I watch daily & esp weekly risers every single day I find it hard to track/catch them all tho!
SS - yes that approach has livened this sector up - have a few FPEO & BPM - looking at HGT
Tks for thread - didn't know about that one! Bookmarked|
|LM - as a sector Private Equity has been a top-class peformer this year; and recently boosted by the unsolicited offer arriving for SVG Capital (SVI).
If you haven't shared in that success, then please don't be a late entrant to FPEO. They are way ahead of the curve on an 8% discount, though likely to be in the 12%/13% range upon current NAV status post the GBP collapse.
Peers are in the 18%-28% range - ie, far better value elsewhere in the sector.
Follow the PE thread for the runners and riders and posts on valuation anomalies:
|I think it got a mention on your thread LM, in discussion about large discounts.|
|for some reason this kept missing my screens - lovely brexit breakout :)
FPEO also interesting in the private equity space
|PINR climbed a quid yesterday, although remain £2 behind PIN. At some stage that discount will close right up.|
|Share price certainly not taken a summer hols, as the offer hits £15 today.
|I've sent it to you Sky|
|Quite a leap for PIN. Do you have the amended values for a few others?|
|Stifel have issued a note about PE funds generally today and have increased their fair value on all of them: for PIN it has risen from 1410 to 1590.|
|These went a tad too far when hitting 1440/50 as the NAV discount dropped to 23% - overbought versus peers. Still look rather rarefied on a 25% discount; however as a long-term hold who could ever criticise PIN.
Well perhaps me for one as I believe they should be paying a dividend...|
|I topped up today. Have this one in the "buy and forget" draw.|
|I added more today, mostly PINR. It is liquid enough at market size. I'm happy for them to use their excess distributions to buy back at such a large discount as well. This is as good an exchange rate hedge for those with a GBP basis as anything, and it looks like low oil prices are here for a while to come yet which is stimulative.|
|Here you go:
|NAV = 1873.6|
|Damanko, you can still post, whatever your share ownership position. This board doesn't suffer from poster overload!
Personally, i'm happy to continue to hold PIN, it being a more conservatively and shrewdly run vehicle than was the case in 2008. And my skill set doesn't include market timing, unfortunately.
The June nav is the y/e one, hence the longer than usual wait i suspect.
For those happy to be locked in for long periods, note that PINR is on a bigger than usual discount to PIN.|
|Damanko - sorry to read you may be leaving us for a while. I daresay all of us who have invested through the Market crashes of 1974/5 & 2008/9, will from time to time worry that the Great Bear will go on the rampage again. We've also had flash crashes on occasions in between those savage Bear Markets.
Both short-term corrections & Bear Markets will inevitably hit again; but surely impossible to predict just when. But Damanko is of course quite right, when they do hit the tide goes out for all stocks regardless of Fundamentals.
With global QE & absurdly low interest rates, it's a difficult time for those like me needing to make money for their drawdown pensions!|
|Hi MF. Last post (honestly). See edited header re NAV etc ...
When I started this thread I was working in Libya, for a seismic company engaged by oil majors, the company was earning many hundreds of thousand dollars each week, employing hundreds of people. In 2011 all the vehicles were appropriated by one side or another, the compound was subsequently bombed out of existence. The company no longer exists. The country is now a failed state. Funny old world we live in.
Moving on, and regarding your latest comment, a friend of mine (France based, though British) now holds 5% of his portfolio in gold, and 5% in silver. He's not usually the brightest button on a jacket, but what he's done has given me pause for thought.
If and when the sheep start their jump, and PIN (as it did in 2008/9) falls with them, I just may dip my toe in again. We'll see ...
|Good luck to you damanko. I must say, I have no idea what the future holds, but I have about 10% in gold stocks, which is a pretty hefty insurance. PIN is fantastically well diversified, but as you say, if the market falls off a cliff, it takes everything with it.On another matter, where is this months NAV? It should show a big currency uplift but is running late!|
|Last post (without the bugle).
I sold my remaining holding in PIN recently, so 27 years since I bought the share when it was called GT Ventures, at a little south of 90 pence. That's what I call a long term holding.
Personal reasons of course, I don't really need the money but it'll go into the bank, making nought point whatever we are rewarded with these days for being prudent. I have a feeling that when the Brexit nonsense dust settles, a cliff may suddenly appear on the stock exchange, and as we saw in 2008/9, all stocks suffer, whatever their merits or strengths are perceived to be, company & business wise. When one sheep jumps off a cliff ... you know the rest.
Good luck to all holders and traders in PIN, particularly SKYSHIP, rambutan2 and mad foetus, I wish you all the best, having enjoyed your posts and your opinions over the years. We may not always have shared the same opinion, but we always agreed to disagree, a crucial thing amongst adults.
Go well all of you, and I trust your investment in PIN is - over the years, as successful as mine has been.
|Good strategy IMO. I've done the same with PEY and SEP recently.
In the PE space I topped up my LMS yesterday after reading the AGM statement. They are already at £15m cash - so halfway toward the amount needed for their next Tender. Also they sold down 42% of their remaining Weatherford stake. NAV discount at 28.4% - for a liquidating trust that has to be attractive.|
|I just sold the trading top up for 1298 - still have my main holding but nice to scalp a couple of grand. I am doing this more and more - finding things I want to hold for the long term but trading them round the edges.|
|Pantheon International Plc ("PIP") announces an unaudited net asset value ("NAV") per share at 30(th) April 2016 of 1,730.6p, a decrease of 16.4p (0.9%) from the NAV per share as at 31(st) March 2016. Investment income (0.4p) and share buybacks (14.9p, 0.9%) were offset by valuation losses (-0.8p, -0.1%), foreign exchange movements (-28.7p, -1.6%) and expenses and taxes* (-2.2p, -0.1%).
Well, share buybacks added over 14p as nw calculated. Forex against us this month - I'm not bothered about that, you win some and lose some. Everything else de minimums.|