Edinburgh Investment Share Discussion Threads

[essentialinvestor] 08/8/2019 10:14

harewood1 - account created 8 August 2019.

[harewood1] 08/8/2019 09:44

Not so sure about Barnett - I think he is being chased by Hedge Funds. It would be a bad move to sell out now for short term gain - he is waiting for the Brexit bounce. UK shares are cheaper than for decades

[harewood1] 08/8/2019 09:43

Not so sure about Barnett - I think he is being chased by Hedge Funds. It would be a bad move to sell out now for short term gain - he is waiting for the Brexit bounce. UK shares are cheaper than for decades

[cynicalsteve] 07/8/2019 23:08

I reluctantly agree, Barnett has to go, the bigger than expected fall (3.9%) in the share price is a sign that investors confidence in the manager has gone. Why does an Equity Income Trust hold 3.7% in a low yielding AIM stock anyway? I used to think AIM was the Wild West of investing but I was wrong, they had Sheriffs in the West! The dream outcome would be hiring Lindsell Train to mirror their Global Equity Fund, the discount to NAV goes to zero, performance should improve. Will it happen? Probably not!

[topvest] 07/8/2019 21:48

Yes, unfortunately this looks like the end for the investment manager here. The Board will now be forced to take action. It's been a very poor performance. There was no excuse for not top-slicing significantly the Burford holding at anywhere between £10 and £20. I sold all of mine below £10 after having purchased at £1.50 or something. Obviously, I sold out prematurely but I was never convinced it should have been valued as a trading company as opposed to an investment company. The book value is only £5 or something like that. I thought Mark was a value investor? Unfortunately there are too many similarities with Woodford, albeit the latter is far far worse.

[contrarian joe] 07/8/2019 15:58

Agree 8w,inv trust board should of taken action some time ago,get the feeling they haven't got the stomach.

[8w] 07/8/2019 15:42

If the Board isn't considering Manager change they are asleep at the wheel.
It is not just a question of poor performance. As of today Muddy Waters are implying manipulation of Burford share price. If proven reputational damage is major.

[andyj] 07/8/2019 15:09

Well done Mark Barnett, thank you for looking after our money.

[essentialinvestor] 07/8/2019 12:04

Discount to NAV is around 11/12% ? - would not touch it at this point.

A 17-18% discount (if that were to happen) might, only might be worth a look.

Look through their portfolio, does it shout quality?, Not to me.

[ec2] 07/8/2019 12:01

50% fall in Burford Capital this morning knocks 2% off EDIN's NAV.

[andyj] 07/8/2019 11:13

Burford Capital adding some more damage today, but with it now at such lows, I am buying in with a long term view.

[essentialinvestor] 06/8/2019 12:32

Bloody hell!.

[andyj] 05/8/2019 12:17

Just a whisker above the price they were in 1998, a staggering 21 years ago when Michael Owen scored that goal against Argentina.

[essentialinvestor] 25/6/2019 23:23

Of that list only Roche is what I would term defensive, appreciate others
will see it very differently. Tobacco for decades was defensive, but no longer.
You could make a case that BATS and IMB having both sold off so aggressively
have been partially de-risked in the process.

[gilesy] 25/6/2019 20:55

10 of the top 20 holdings are 'defensive' namely

BAT Altria Imperial Novartis Derwent Roche Tesco BT
New River Drax

I am hoping of course they get out of tobacco but sensibly i.e when the share prices are more favourable (if that ever happens !)
my favourite investment trusts are MNL and BRWM but EDIN should at least provide a reliable dividend

[contrarian joe] 25/6/2019 16:27

It's been a great performance for Invesco!!.

[hugepants] 25/6/2019 16:03

Is this trust managed by the same shower that are running PLI? What an awful performance bearing in mind the FTSE is within about 6% of its record high.

[essentialinvestor] 25/6/2019 11:36

When you say..defensive bias..

What parts of this portfolio you view as defensive?.

[gilesy] 25/6/2019 11:03

bought in at 5.70 for the defensive bias of the portfolio plus good yield
i agree the recent performance has been awful though

[contrarian joe] 24/6/2019 15:03

Latest nav,has moved up a few pence from last week.





Edinburgh Investment Share News (EDIN)

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Share Name
Share Symbol
Market
Type
Share ISIN
Share Description
Edinburgh Investment Trust Plc
LSE:EDIN
London
Ordinary Share
GB0003052338
ORD 25P

Price Change
% Change
Share Price
Bid Price
Offer Price
High Price
Low Price
Open Price
Shares Traded
Last Trade

-8.00p
-1.38%
571.00p
570.00p
572.00p
580.00p
569.00p
578.00p
478,942
14:35:57
Industry Sector
Turnover (m)
Profit (m)
EPS - Basic
PE Ratio
Market Cap (m)
Equity Investment Instruments
62.9
57.3
28.7
19.9
-
Print
Alert

Edinburgh Inv. Trust Net Asset Value(s)
24/06/2019 11:05am
UK Regulatory (RNS & others)


TIDMEDIN

The Edinburgh Investment Trust Plc (EDIN)

As at close of business on 21-June-2019

NAV per Ordinary share (unaudited) with Debt at Par

EXCLUDING undistributed current year revenue 667.24p

INCLUDING current year revenue 675.71p

NAV per Ordinary share (unaudited) with Debt at Fair Value

EXCLUDING undistributed current year revenue 657.37p

INCLUDING current year revenue 665.84p

LEI: 549300HV0VXCRONER808

[essentialinvestor] 24/6/2019 14:48

One of the big mistakes Mike is making is on tobacco,
which he describes as one of the 'pillars' of the portfolio.

He's referenced the recent sell of in tobacco stocks as being similar
to 2000. There are very big differences. Firstly, BATS and IMB have taken on
huge debt, so gearing is very different. The sector is increasingly
disrupted by new technology in the form of vape.
There are hundreds of sellers of cheap generic vape kits and liquids,
big tobacco no longer have the monopoly. You don't need to be a tobacco company
to produce these. And the internet provides a means of rapid distribution.
20 years ago the tobacco companies largely controlled distribution channels.

[contrarian joe] 24/6/2019 14:45

Wishful thinking EI,yes larger than average volume support at 569 going back to 2013.Discount around 14%, I wonder if the trust board are considering changing Invesco!!.