Blue Planet Investment Share Discussion Threads

[carterit] 14/10/2007 01:11

Wouldn't disagree on the timing,and the upside is going to be limited if the markets keep going up (with so much in cash and hedged),however as mentioned before,i think we may still have a sting in the tail over the next few months - and in terms of discount to nav (and limited downside in the event of another fall),there aren't many investment trusts on a higher discount.

Its size and current lack of gearing still give it the potential to recover pretty quickly in a more predictable market....and its performance over the last 3 years has still been pretty impressive according to trustnet,so i'm certainly prepared to wait to see what happens over the medium term.

[woracle] 13/10/2007 20:41

"They predicted the fall in share prices earlier this year,and ungeared.Where they went wrong was to go back into the market too soon."

I think you are being a tad generous to Murrays' timing of the markets. Yes he was predicting a major correction and he went heavily into cash too early and the market carried on to new highs are which point he rejoined the party near the top. Once he was back to fully invested, the market corrected...

Bit of a disaster timing wise his year...

[carterit] 13/10/2007 19:54

Considring the % in cash and liquid accounts + the hedging,the discount to nav by itself (and even more so with BPW) is attracative.

They predicted the fall in share prices earlier this year,and ungeared.Where they went wrong was to go back into the market too soon.

Can't help feeling that with the financial crises we encountered recently isn't yet fully over - and as such it seems crazy that so many markets are back up to record levels.

I fear that reality may kick in shortly and we may have another fall back within the next few months (although hopefully not as severe as the one just gone).

So am happy at the moment that any further downside will be limited and may just provide even better buying opportunities.

When the future looks a little bit more predictable,then i still think this (and BPW even more so) have the potential to bounce back just as quick.

Any share price appreciation + narrowing of the discount to nav (don't forget BPW even went +ve by some 15% earlier in the year) can lead to rapid increases - so am happy to hold (both) at present.

[malcolmmm] 12/10/2007 23:36

these have risen about 40p in eight years yet they get all these awards....good trading share but not one to keep over the long term perhaps

[malcolmmm] 05/10/2007 17:25

Perhaps Murray's personal hefty stake in the fund clouds his view and he is become over cautious, I still think discount to net asset value should be narrower because of this.

[jimbox1] 05/10/2007 09:46

Woracle, thanks, I stand corrected. This used to be a good fund, but seems to have gone off the rails recently.

[woracle] 05/10/2007 08:35

Not true..the hedge fund is still about 13% as of last week and more in the other funds. Hes creaming it in double fees ;)

[jimbox1] 05/10/2007 07:53

It's a relief that the in-house hedge fund no longer features in the reported portfolio, but Murray's touch on market timing seems to have deserted him. If I wanted to be in cash, BLP wouldn't be my ideal choice. I'm out.

[malcolmmm] 03/10/2007 11:42

Don't you think that the share price should reflect the fact that these are no longer geared and that a quite a high percentage is held in cash funds, ie- the net asset value is £1.74

[woracle] 31/7/2007 12:31

It just means they can be overtaken if price is right. Stating the obvious, but but we all known consolidation in financial services industry in Europe is ongoing right now. Thats one good plus for investing in financials.

[jhan66] 31/7/2007 12:16

just noticed this. Don't know what to make of it but I believe ERSTE is one of BLP's biggest holdings.

Raiffeisen Bank Erste Bank has 'black book' to fend off hostile bid; but safe days over - CEO

VIENNA (Thomson Financial) - The chief executive of Erste Bank AG Andreas
Treichl said the bank has had a contingency plan since 2002 of what to do in the
case of an unfriendly takeover attempt.
"We have a black book and we know what we would have to do if an offer were
to come," Trelchl told journalists at a press conference in Vienna today.
"The safe days are over and the climate (in Central and Eastern Europe) will
become rougher," said Treichl, as fewer and fewer interesting banks are left on
the market to buy.
Treichl said core shareholders are vital as they present some "protection"
against unwanted approaches, but said if a predator bank really wanted to, it
would succeed.
"Even Raiffeisen could be taken over, it all depends on the price," he said.

[woracle] 28/7/2007 10:10

You gotta laugh really. Sods law, Murray goes all long, gears up, and is bullish and the markets start tanking. Owner or no owner, hes got egg on his face this year for sure with 2 bad timing decisions which has really affected performance. His luck has run out it seems.

[foster] 25/7/2007 15:44

Kenneth Murray is beneficial owner of 3,966,818 shares representing 23.93% in the Company. That's about £6.7m in BLP. And then there's about another £5m in BPW. Can't blame him for being a bit cautious sometimes.

[jimbox1] 18/7/2007 14:34

Woracle, I agree that the hedge fund investment is most unsatisfactory. This incestuous behaviour has not worked in favour of BLP investors. In fact, quite the reverse.

[woracle] 12/7/2007 21:27

Murray is all long again..spent all the cash and is gearing up now. Didnt take him long to go 100% bullish after all that fanfare about a correction ! But still unhappy he holds 13% in his hedge fund. I mean, its 12% down for the year and what the heck is it hedging anymore..nothing ! But Ken still collects fat fees in his hedge fund... so on principle I am staying out for now..

[goldlocks] 16/6/2007 12:25

I don't understand why Murray is concerned so much about US when he's not interested in investing in the US at all.

The RTX (russian stocks index)was 2744 on January the 1st and is 2591 today. On the way there was a small rally from March (RTX 2400) to April (RTX 2700). But market timing is not about moving in and out of stocks every couple of months, but being on the right side when the big movements take place.

Valuations of Russian stocks became attractive again. So far his timing was not that bad.

[woracle] 11/6/2007 19:56

Amusing..he started buying back in last month because his concerns about US economy abated to some degree. But last week market gets more concerns about the US economy..and theres a hiccup in the markets.. I bet he started buying back cause he missed the run from March to April and was looking like a real muppet ! Now he's started buying back, we will probably get the real correction once hes geared up again in October... Duh ! Market timing...mugs game.

[goldlocks] 10/6/2007 17:08

Woracle, I partly agree. Ken Murray is moving money in and partially back out of the hedge fund for no other obvious reasons than taking the fees.
But I also noticed that Kenneth Murray is increasing his holdings in BLP as well as in BPW. So he must consider the shares as cheap.

I do not expect a recession in US like KM does, but I think we must be alert for a correction. Especially the Financials sector is hit hard by raising intrest rates. Therefore I'm happy that I can buy BLP and its cash at a 25% discount. Hope he wont't screw things up by getting back into the market just before the next correction.

[jimbox1] 06/6/2007 09:20

Woracle, I entirely agree. If I want to be in cash, I can sell my shares. I bought BLP because I wanted exposure to European banks. BLP could at least use some cash to buy in shares to eliminate the discount or dividend the cash out to the shareholders.

[dwsmithdhf] 05/6/2007 08:06

woracle, You may be right in what you say, but having said that these shares must be considered as very cheap. If you strip out the cash element the investments are at a discount of 35%.

[malcolmmm] 11/4/2007 20:31

not a boring share, are they

[malcolmmm] 10/4/2007 12:09

yes you were right, so far anyway, jhan66, it's usually a good time to buy a geared quality share like these when a few sales and general apprehenshion depress the price....never know though

[jhan66] 05/4/2007 20:52

£2.089 nav. think that makes my £1.67 cost price pretty safe

[jhan66] 04/4/2007 11:02

I thought so. but maybe I was too hasty yesterday.
Hopefully the NAV will get released soon. If it holds up aboove £2 we're back to a big discount