Titon Share Discussion Threads

[red army] 01/6/2015 19:14

The board are too conservative for that.

[rainmaker] 01/6/2015 18:51

Guys is anyone going to be writing to the Company suggesting a(badly needed) share buyback?Ok, we shouldn't need to but I feel we have to.


tia

[red army] 30/5/2015 15:49

120p my target as well.
Hoping for a pullback to 75p to buy another chunk.

[rainmaker] 30/5/2015 15:15

You're welcome, SHAL. I can't believe that like previous years,Titon will become moribund and do absolutely nothing for the next six months until the next set of results. If I were coming to this share for the first time, I would have no hesitation in buying plenty at current levels as we're still trading at net working capital but the share price should, with the Company making and expected to continue to make a return over and above its cost of capital, be at a premium to tangible net asset value of 100p.I have no doubt the Company's strong performance will continue(the normally very reserved, non committal and conservative CEO said recently that he is optimistic that profits at South Korean, the Company biggest profit generator, will increase this year)and even though I'm sitting on substantial profits here, as always,I refuse to average up even though I believe we'll reach at least 120p before the year end. Even a modest buyback by the Company would not only make absolute economic sense but send a clear and unequivocal message to the Market and have a dramatic effort on the share price. Last July, the Company bought back 50,000 shares for cancellation.

DYOR, AIMHO

regards

[sirhedgealot] 30/5/2015 08:37

Agreed. We should take the conversation there. Thank you for responding in length. The two buys that went through yesterday, I was unable to match those bids in quantity of shares even though I bid before them. Hopefully some will become available.

[sirhedgealot] 28/5/2015 09:25

Incidentally, nothing available here at this time.

[sirhedgealot] 27/5/2015 14:36

RMKR. So you can pretty much Authenticate that's his actually day of birth as the has been some conjecture regarding the actual day. I know where he's buried , common knowledge but have never been to the area when visiting america. I think it was saddening that his last partnership was formed under unsatisfactory circumstances. It didn't perform.What great futures we could have had if we had attended his classes all those years ago.!!Truly a wonderful man.

[sirhedgealot] 27/5/2015 14:29

RMKR. That is a nice find. I'm glad we've all had so much fun out of this. Regards.

[sirhedgealot] 27/5/2015 14:27

Sleepy, that would be very kind of you!. I like to share these things with other value investors so they can enjoy the idea of it as well. It means more to me than money, it's my life.I regret I was going to phone Irvin Kahn's office and ask very politely for an autograph as I knew his time was drawing near. I almost bought one for sale but it was snapped up just before he passed. There's some chap in America who owns almost everything worth collecting but he won't sell anything. Phil Fishers came up for £10,000. It was just too much.My favourite operator is Charlie Munger....reading his stuff improved my will to live haha!

[rainmaker] 27/5/2015 14:22

SHAL,Interesting.In the true spirit of BG when he was told he wouldn't do him any good to investigate a Company's assets, I actually purchased a copy of Ben Graham's birth certificate because us Value Investors like to deal in facts not conjecture. I've just seen you post 494, I wasn't aware that he lived in Brighton.

regards

[sleepy] 27/5/2015 14:07

Sir - am very impressed. I have one of your missing autographs. At over twice your age perhaps I should leave it to you in my will!

[sirhedgealot] 27/5/2015 14:02

I have photos to authenticate these things. I sometimes speak to Guy Spier and once spoke with Buffetts granddaughter. Maybe we can be friends. I admire your passion for Ben Grahams work.

[rainmaker] 27/5/2015 14:00

RA, I've no doubt that it is perfectly achievable in the next six months or so. the reason I mentioned 100p is of a point of reference as Titon's NTAV and since the Company is comfortably making a return over and above its cost of capital then we should be trading at a premium to that level.

regards

[sirhedgealot] 27/5/2015 14:00

He was born 1894. I was born 1984. Its been a strange life.

[sirhedgealot] 27/5/2015 13:59

Rainmaker. I am one of the U.K.s leading collectors of Ben Graham books and rare materials. I have two signed books, paperwork, original photographs. :)I also own every edition of security analysis and almost owned a 1st edition , 1st printing of the 1930s security analysis. I have signed autographs of every value investor of fame except Buffet, Irving Kahn and Phil Fisher.I am thirty years old, I was born in Brighton and lived on the same road as Ben Graham did when I was two years old. In his autobiography he swam in the same section of the sea as I did when I was a young boy. I've been to his old house, the old church his family went to.

[red army] 27/5/2015 13:30

My initial target 120p

[rainmaker] 27/5/2015 13:15

Great thinking, Junior and we're still on an incredibly low rating by any measure be it price /earnings, price/sales, price/ntav etc,etc

regards

[rainmaker] 27/5/2015 13:12

SHAL,Ben Graham was a brilliant man, no question. He brought clarity and insight to a Stockmarket that had hitherto been dominated by insider trading,rampant speculation and illegal share price manipulation.Furthermore his teachings and principles of sound operation are more relevant and important now then they have ever been Did you realise that he's actually British?He was born at 87 Aberdeen Road, Islington, London N5 on 11 May 1894.

If you really understand Ben Graham, IMHO you'll never have to make difficult decisions and everything in your stockmarket investing will flow naturally and smoothly, although not always to plan but you should never have those enormously difficult gut wrenching decisions to make.

regards

[junior21] 27/5/2015 13:05

Well I became a shareholder yesterday, albeit in a minor way.

I would have preferred to have bought nearer 60p or 70p, but have taken the view that I paid what was the going rate 15 months ago and the company has progressed since then.

[sirhedgealot] 27/5/2015 10:48

I can tell your a Ben Graham fan Rainmaker :). Hopefully these guys are far from being another mallet with the Korean income.

[rainmaker] 22/5/2015 14:58

Well good luck.............but don't miss the boat, we're already on an abysmally low rating and its v difficult to see it getting any cheaper.It won't take much buying to take us to £1 perhaps we'll get another Company share buyback. Remember the directors have substantial shareholdings here, the current CEO has circa 10% and the previous one and founder, some 29%.Share buybacks at current levels are a complete no brainer and should be expected (in fact last July the Company did exactly that)since at a stroke, they will boost EPS, TNAV and cut the bill for the dividend as well as sending "The Market" a straightforward and unequivocal vote of confidence that even it can understand

regards

[sirhedgealot] 22/5/2015 14:24

Still waiting for entry.

[rainmaker] 22/5/2015 13:04

I'm sure there's a great opportunity at current levels, at the current offer price of 80p,we're trading at just over 7 and half times the last twelve month's earnings and the Company are "optimistic" that both profits and sales will increase in South Korea, their most profitable region with the introduction of a new low cost ventilation product.Overall sales increased 15% and the interim dividend has been increased by 25%, the 1.25p dividend goes ex on 29/5/2015. I'm sitting very comfortably with my holdings and I believe the market will wake up to a substantial undervaluation here.Pinch me I'm dreaming.

AIMHO, DYOR

regards

[sonofbanjosinger] 19/5/2015 16:57

I know it been tipped in some of tip sheets somewhere, not sure of which ones though.