Dev.Secs. Share Discussion Threads

[skyship] 08/10/2014 16:07

Welcome to two savvy investors.

They were offered at 185p for a time - a 31.2% discount to the end 02/14 EPRA NAV of 269p!

[tiltonboy] 08/10/2014 15:46

I like discount plays, so decided to join you.

[cwa1] 08/10/2014 14:54

Afternoon All

Just joined you here after being out of these for quite some time. Good fortune all.

[jl9] 08/10/2014 12:58

Marx doesn't 'do' shareholder value. Everybody's Got to Learn Sometime...pom, pom, pom.

[stupidboypike] 08/10/2014 12:00

wow, haven't seen a move of that size in quite a while of watching this share. Let's hope that is not bad news leaking. I've got a large (for me) holding here.

Best regards SBP

[citymohawk] 07/10/2014 17:46

This is interesting. I can't find my history on the major shareholders but I'm certain it wasn't as much as 52%. That means 5 out of the 15 Institutional holders own 52% and the other 10 (Institution + Private) own the remaining 27%.

We have a larger free float out there compared to a few weeks ago, but a larger number of holders.

I'm off to check what I find with the current major holders. If I find nothing untoward, then todays price seems even more absurd then I initially thought.

[jl9] 03/10/2014 02:30

Let's quit pretending and start a new life together.

Roll on results...at least we're due a new muppet show.

[citymohawk] 01/10/2014 19:34

JL9

It's me who shouldn't rise to it. Sometimes, I just can't help myself and I apologise. I am easily irritated when people whinge without a basis. The management are responsible for the NAV and the market is responsible for the price. You have been crying about the share-price for some time now and there has never been a factual basis. I don't think its fair for another shareholder to be exposed to your rant if there is no basis. To consistently say "DSC is falling.... I see 170p etc" with no basis, is ludicrous regardless of whether it falls as per your expectations. I swear I don't mind if you expose a business inefficiency but a whinge is not a reason.

Yes DSC has performed badly relative to competitors etc, but if you know this then why are you here? Surely you have a business case for investing in DSC? Has that changed? I sold out on frustration a while back and very glad that I did. However, I have never doubted the business hence why I came back in. I am also unhappy with the price, but I can't recall whinging about it.

Likewise I hope you don't take offence. I am totally independent of peoples opinions of me and you will certainly not be the first person to think of me as an arrogant idiot. ;)

[sjc] 01/10/2014 10:42

Time to turn imo.
free stock charts from uk.advfn.com Stochastic looks to indicate +ve imminent.

[jl9] 01/10/2014 10:22

CM

Sometimes it helps to stand back a bit.

One piece of advice I try to follow is: Never argue with an idiot. Unfortunately it’s much easier said than done, not least because idiots don’t go around wearing labels and mostly only emerge gradually.

Fundamentally speaking, do I think you’re an idiot? No. However, your habit of misconstruing me for the purposes of argument tells me you’re in the grip of some irrational influence that may turn you into one. And on this basis I must decline any further discussion with you regarding discounts.

I hope you don’t take offence at this and I remain interested in your generally very intelligent and informative postings.

[sjc] 30/9/2014 15:50

194 target holding, poss base of saucer/bowl imo.

[tobias] 30/9/2014 14:36

i still think undervauled will buy back in glad to have left with soras

[skyship] 30/9/2014 13:03

tobias - don't be swept along and misled by JL's nihilist and misguided rants. Of course Aberdeen knew what they were doing when they took the large part of Quantum's stake; they were already large holders. Their mistake perhaps was leaving Quantum holding a c3m share rump!

Roll on the Interims - that will answer the concerns many currently seem to hold.

[tobias] 30/9/2014 12:54

did aberdeen not send anyone to check out this stock before buyiny 19%

[jl9] 30/9/2014 11:59

CM!!!

I thought if I manned up you'd be seeking treatment.

I jest of course. Thanks for the input. Will digest and reply asap.

[citymohawk] 30/9/2014 11:39

JL9 please... please. I'm begging you. Yield is subjective... 3% could be large or small. Let me help you... I can help you I promise. This self flagellation is not helping you nor the rest of the readers here.

You are hell bent on the fact that discount to NAV has never closed and for whatever reason you think it never will. We have been here before arguing in daffodil fields about why/how discounts close, but you were having none of it. I agree with you my love, the discount has always been at a historic discrepancy. However, I fail to understand why you are not acknowledging the key drivers for a possible "new market price". DSC has never had such a consistent top line. On the current margins this means we have never had such cash. Cash, as you know leads to acquisition, buy backs or divi policy change. Given the consistency in margins we will see more cash and more growth. Whilst you are right, the discount has never closed - this is the first time we have consistent signs of the rubber band about to snap back up into the correct price.

Today you can buy DSC for a discount to NAV, NTAV, A DISCOUNT TO Director Buys in the last two months (who incidentally like the yield)!!! and more importantly a discount to cash flow yield. Whilst I am mostly holding cash too and agree that this is not the environment to be investing; DSC still offers what is required from an investor. However, in the next announcement (someone remind me of the dates plz?) I would expect nothing less then growth in cash, investments, valuations and a record top line. I will also be unforgiving to any bs. I consider myself to be a big shareholder in DSC and consistently remodel in case I have missed something. Yes, I am concerned with the current price - it'd be a lie not to be, but I do have a justification for it in my head. However, I also believe there is a difference between a rookie and an investor or balls of bread and balls of steel. When the portfolio is red, we do see the bread-bins come out.

London markets are under pricing pressure due to stagnation, interest rates are hinted to rise, people are consolidating out because of uncertainty.

Mrs just returned from hair cut now so must dash.... always interesting listening to your views my love. All in jest ... :)

[jl9] 30/9/2014 09:43

Your remarks fly in the face of the facts. The yield isn't attractive and the discount will do you no good unless it closes - which it won't for the reasons I've given.

[boystown] 30/9/2014 09:11

The greater fool theory patently does not apply here. At the price I bought (198p) I'm getting close to a 3% yield at a 27% discount whilst people who have demonstrated their expertise make wise decisions to make the assets grow more quickly than the market.

'e basta'

[jl9] 30/9/2014 09:03

elmfield

Its interesting you should mention profit warnings. Yes, there are plenty of those around taking down companies in an otherwise quite resilient market. What we're seeing from DSC is a 'slow motion' profits warning. This is all symptomatic of the stock-picking market we are in. With every passing day its becoming clearer that DSC are unable to deliver positive shareholder returns across a cycle. DSC as a stock therefore is completely dependent on its 'greater fool' attractions. The problem is that investors are wising up.

[elmfield] 29/9/2014 21:28

Skyship,
I am worried by the various profit warnings out and about,
I think it is the start of the truth about where Q.E is
going to take us, I don't like what I see!
It takes nerve to cash up but I sleep easy, exposure through absolute return funds, and a few other long term holds.

[skyship] 29/9/2014 18:16

elmfield - well done for having delayed your re-entry. Surprised that Quantum should still be selling down at this level; but not concerned as the 269p NAV is likely to be left well behind when we see next month's Interims.

In the meantime, happy to have had the chance to buy back into LSR today. Both have been great winners over the past 18months and both will be again...

[jl9] 29/9/2014 18:13

I think we'll see trading in the 170s ahead of the results, then a smart recovery into 190s, then further steady decline around a stagnant NAV. This market is unmasking DSC.

[elmfield] 29/9/2014 18:05

I will wait on the sidelines, not convinced.
Last time I bought these was a lot lower than this and not that long ago.
No rush in these markets, cash is the new cool.

[cockneyrebel] 29/9/2014 17:51

A lot of support areas around here on the chart imo.

CR

[sjc] 29/9/2014 16:57

Nice gap down and closed @ 195.Stick or bust.
free stock charts from uk.advfn.com