Athelney Share Discussion Threads

[soundsplausible] 05/7/2014 09:17

New to this investment trust and yesterday was looking to buy into it. I got a shock when I saw a 50p spread between buy and sell prices. Is this a common feature of this share?

[smithie6] 04/6/2014 12:26

250p share price and 226p NAV

Looks like insanity

[topvest] 20/5/2014 16:37

That's not what I heard.

[mw8156] 20/5/2014 10:41

think Robin writes it and Hugo Deschampsneufs signs it?

[topvest] 17/5/2014 16:33

Hugo writes the commentary as far as I'm aware.

[mw8156] 17/5/2014 14:21

see athelney got some coverage in the Independent today in the Derek Pain column who states that Hugo Deschampneufs writes the commentary though I suspect it is Robin Boyle.

[topvest] 27/2/2014 20:43

Smithie 6 - odd that you are selling the benefits of WSE on this thread, whilst slagging it off on the WSE thread...make your mind-up!

[mw8156] 26/2/2014 22:10

looks OK but at my age looking for IHT free investments!

[smithie6] 26/2/2014 19:46

No interest in Western selection ?

at large discount to NAV

58p to buy on limit trade and 93p NAV

interim results out today

[smithie6] 13/2/2014 13:09

mw8156

Athelney is priced very close to its NAV
whereas Western is 58p to buy and NAV is now around 107p , including 10p for Hartim which is valued around 0p in accounts since valued on 50% of shareholder assets as reported in Hartim accounts, rather than say 10 x PAT. (WESP on ISDX.com market)

[mw8156] 02/1/2014 23:09

This has been on a bit of a roll of late with good stockpicking but probably fully priced now and it's getting harder and harder to find small cap bargains so he's been investing in insurance cos Amlin, Catlin, Lancs as well as property SREI, SLI, Picton, Redefine.
A pretty good investment co but the only drawbacks are that the costs of running the co in relation to the assets are very high, the shares are very illiquid and the investing presently relies on one individual who though v experienced and crafty at finding obscure undervalued stocks eg Goodwin@180p, mountview,camellia@1200p might be getting near retirement age, possibly.

[smithie6] 02/1/2014 14:55

"disappointing investing in some of the 'value traps' you mention above"

'value traps'.....now that's an interesting subject....(something I try to avoid, although like most people, once in a value trap it can take some motivation in order to leave !)

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Athelney now trading I think around the NAV

have any Athelney shareholders looked at other similar investments to see if trading at a large discount to NAV and perhaps worth moving across ?

WESP (Western Selection on ISDX) perhaps ?..at a large discount at present...and pays around 4% divi which looks very safe

[topvest] 19/12/2013 13:02

Blimey. A little buy and these go flying. I've already got enough. It's not a bad investment company for it's size. Happy to hold, but don't want lots more.

[plasybryn] 19/12/2013 11:43

Under the radar.
Massive spread

[mw8156] 20/3/2012 22:27

Agree
Think they are chasing yield too much; understandable as it is eligible for ISAs now but this has resulted in sale of some good companies eg Fenner, Nichols, part sale of Goodwin and others and disappointing investing in some of the 'value traps' you mention above

[topvest] 17/3/2012 16:48

Not a great performance by Robin over the last year or so. Buying and selling HMV, presumably at a very large loss was a very poor decision. Robin has a good record, but buying something like this which was quite clearly in terminal decline (and still is!) necessitates a bit of a re-think. This was not the only dog purchased, with Wincanton another disaster area. Best to avoid companies with 1. No revenue growth; 2. High debt; and 3. Large pension deficits is always a bit of a golden rule in small cap investing. Robin has a reasonable record, but would have thought he might have learnt this by now. Anyway, lets hope things improve in 2012.
Not sure why he sold J Smart & Co either given the massive discount versus book value and a steady dividend.

[topvest] 27/3/2010 17:27

Quite an interesting placing of c10% of the enlarged capital to Hyperion Asset Management.

They seem to have protected their position with the right to buy another 20% from Robin Boyle, if he wishes to sell at some point in the future. Not very well explained, but I suspect this is a way of ensuring the Hyperion don't get diluted.

Overall, it's good news. Should improve their firepower and no real dilution from the issue.

[topvest] 09/10/2009 21:34

Discount is higher than it has been for a while.

[investinggarden] 19/8/2009 10:14

Assets bounce at Athelney

[topvest] 09/6/2009 21:12

NAV now 103.7p. Nice!

[topvest] 09/5/2009 08:37

Nice bounce and nice dividend in the last week or two.

[westcoastrich] 07/5/2009 09:28

come on my prettys

[gumarabic] 05/5/2009 21:24

yes the goof follows me around, he knows i like good stuff thats why

[dalstal] 05/5/2009 13:16

whiterussian - whats the deal with gumarabic? not a single thread that the pair of you arnt in together?

[whiterussians] 05/5/2009 11:51

when this goes....!!!