Downing Strategic Micro-... Share Discussion Threads

[spectoacc] 03/1/2020 13:35

Still buyers, and a 3rd MM back? Treating that as a good sign :)

Still think it may pop to NAV again before long, got to be soaking up the many sellers. 4p spread is still daft. 77.999p to buy today.

[spectoacc] 02/1/2020 14:18

Still decent buyers, still below NAV - c.5p in the case of the bid price. Not ruling out it popping at some point.

[spectoacc] 30/12/2019 13:07

78.2p NAV, been doing quite well.

Lots of Telegraph buys so has to be a big sell yet to be reported - SCAP drops the bid again at the merest provocation.

[spectoacc] 30/12/2019 08:43

5p spread. Telegraph readers have to pay near current NAV, holders lucky to get 72.5p.

[spectoacc] 27/12/2019 09:03

Lightened a few at c.75p, hopefully going to kick on above that when more retired army personnel have finished reading their paper.

[spectoacc] 27/12/2019 08:26

Thanks for the nod, wonder if this will run on for a few days. Reluctant to sell below NAV (76.6p last reported) but like to sell into tips.

[red ninja] 26/12/2019 13:47

Yes thanks, yet more proof that Questor in the Dailey Telegraph loves DSM.

[robow] 26/12/2019 13:44

thanks carcosa

[carcosa] 26/12/2019 10:14

Your Xmas tip:

[robow] 11/12/2019 15:32

I do hope so!

[spectoacc] 11/12/2019 15:26

Corpse twitching again, a few decent buys, NAV c.76p, I fancy a "2020 tip" from someone over Xmas.

[red ninja] 03/12/2019 05:34

Hargreaves Services had a good result on the sale of Hemerdon Tungsten mine yesterday should add a little to NAV.

[spectoacc] 21/11/2019 12:21

Oh - or is the RNS just a reference to Premier & Miton having merged? Isn't at all clear.

[red ninja] 21/11/2019 12:11

The buying is an encouraging sign, but on the other hand someone had to sell.

In the Iterims I believe they state that the portfolio is 65% undervalued so maybe it is worth sticking with DSM.

[spectoacc] 21/11/2019 09:34

Premier Miton popped up with 11% - who did they buy from I wonder? Bought on the 15th (last Fri). 6m shares.

[spectoacc] 15/11/2019 16:30

Convinced myself to top up a few. They're only so far away from the next Real Good Foods fiasco, but Volex is shaping to be a genuine winner. If the NAV can get back to say 80p, that discount should come in a bit.

[spectoacc] 15/11/2019 14:57

Reluctant to suggest DSM as a long, but the NAV today (for yesterday) shows 74p, presumably reflecting the Volex rise. Must be the largest discount it's ever traded at, c.15%?

[spectoacc] 14/11/2019 12:11

The tick up was a little strange before, but agreed - not seen anything to justify this fall. Is a 62p offer price vs a 72p NAV justified on DSM? Probably. But it's historically a high discount.

[strollingmolby] 14/11/2019 10:38

Strange move down today given Volex's surge recently and strong results today. Maybe a forced or clumsy seller in the market...

[spectoacc] 07/11/2019 08:25

I spy a twitch.

[spectoacc] 24/10/2019 16:21

A tick-up in the NAV, share price following.

[red ninja] 19/10/2019 14:31

I see your point on a NAV basis.

DSM holds stakes mostly of less than 10% of companies equity and only 4 greater than around 10% in the 11 - 17% range.

DSM has cash in the company and other Downing funds that have been investing in DSM so do not see it having to make distressed sales.

Its performace is deplorable especially in Redhall and Real Good Food.

However, it also has winners in Adept and Volex.

Even Real Good Food looks like it may be a medium to long term winner.

Still deplorable performance, but I don't think it in the same boat as WPCT and maybe even in time it will prove a winner for investors, although it looks like there may be global recession to get through before that becomes clear.

[spectoacc] 19/10/2019 14:10

DSM - 100p to 69.84p (NAV)
WPCT - 100p to 63.47p (NAV)

In "Investors money" terms, that stacks up. But not in share price terms, hence my point about not being comparable.

The "worse" refers to timescale - WPCT's had longer to lose more money. Mind you, until a matter of weeks ago, the Not Asset Value at WPCT was higher.

Yes - WPCT is going much, much lower IMO, nearer to 0p than 20p. But can you imagine selling any of DSM's holdings in size, despite them being listed?

[red ninja] 19/10/2019 14:02

DSM has lost around 31% of investor money.

WPCT has lost around 67% of investors money, but based on a unquoteds that could be more so do not see the comparable argument.