Establishment Investment Share Discussion Threads

[hyper al] 03/6/2010 08:58

Mattjos

Well done with this one, just wish I had picked it up.

[celeritas] 03/6/2010 08:21

Another Chinese stock disappears from Aim, just why are Chinese stocks treated so badly, the anomaly is eventually spotted it just takes time.
Think i'll split the gain between WCC and pmhl.

[explorer88] 03/6/2010 08:16

Well done all ! :-)

[mallorca 90] 03/6/2010 08:09

Well done mattjos. Excellent call.

[glasshalfull] 03/6/2010 07:59

Smashing news for holders of ETC.
Well done mattjos et all.

Regards,
GHF

[masurenguy] 03/6/2010 07:57

Well done mattjos - it's good to see someones patience and tenacity rewarded !

Edit:

[davydoo] 03/6/2010 07:25

Personally i'll be looking at other chinese opportunities having had success with ACHL and now ETC. Im already in GNG, and also have been looking at CFC and SORB.

[ericardlussa] 03/6/2010 00:24

question: RE-INVESTING ETC PROFITS...
where are Kuoni shares traded? I know they are Swiss . Travel and Leisure good place to be as recession eventually recedes and the Icelandic dust settles. IMHO./DYOR

[davydoo] 02/6/2010 22:03

I agree its a bargain, as happy as I am to triple my money, a £40m valuation is still low when you consider the position they had and the potential kuoni now have.

My only problem is its all in my SIPP, ahh well in 22 years time I can raise a glass. cheers.

[ash999] 02/6/2010 21:35

thank you mattjos

[pearcy2] 02/6/2010 21:33

congrats Mattjos, great call.

[mattjos] 02/6/2010 21:22

parrot & sick i think for some Davy but the announcement says it all. Well doen to us and any others here before today
ETC has been grossly undervalued by AIM for so long .. the potential is huge and Kuoni clearly see that potential. ETC's figures came in pretty much where i'd forecast and show the business is on the cusp of great things, Unsuprisingly the CEO was a little guarded in his emails to me.
Kuoni must be delighted with the forced sell in December that they seized upon & put them in this position .... can't see any counter offers coming in unfortunately as Kuoni have such a large shareholding already. Looks like Job Done & i think Kuoni have picked up an absolute bargain at the price.
One more Chinese Aim stock departs the myopic & xenophobic uk investor base .. our choices get fewer and fewer every month virtually

[davydoo] 02/6/2010 21:18

ONE HUNDRED AND FIFTEEN PEEEEEEEEEEEEEE WEEEEEEEEEEEEEEEEEEEE

I need to read it in detail, but this looks pretty good. Well done Mattjos, those buys we picked up in the low 30s have done well for us.

[mattjos] 02/6/2010 12:15

some continued buying pressure today. stock looks like it wants to be at 40, imo.
Hasn't yet flushed out any sellers

[mattjos] 02/6/2010 08:54

interesting given the general market

[mattjos] 24/5/2010 17:09

the last rns seems to have put ETC on the scope of a few others, imo. happy to wait for the time being

[mattjos] 12/5/2010 12:19

interesting tiny little tick up here today. doesn't take much but the spread is a big deterrent on many days on first inspection but you can buy well within the spread on a fill order

[davydoo] 30/4/2010 18:26

What else are you currently holding/looking at Mattjos?

[mattjos] 30/4/2010 18:18

Davy .. pretty much my thoughts. They are now beginning to demonstrate results from their cost control efforts & the turnover is not to be sniffed at. A strengthening Yuan will support overseas travel by the chinese. This is no WCC type share. It'll be slow progress but i believe ETC is getting its act together & the profits will come. back end of May will be interesting time here

[davydoo] 30/4/2010 18:07

I actually sold half my holding coming up to the results, i got 38.5p and 38p. I figured I was overexposed to a potentially volatile event, thinking theyd either be poor in which case I wanted to bank some profits, or very good and in which case I still had a holding that would have benefited.

In the event I think they were ok, and I actually was able to buy some back at 34p on results day.

I was pleased to see the sale of the grandbuy stake, which had no relevance to the business, but i hope it was done for good reasons, and not just to flatter the annual profits with the gain (what an enormous gain though) which some people may not realise, especially when looking back in future years.

The fraud isnt huge, but it is worrying, however i actually see it as one of the risks of investing in the chinese market, so it doesnt change my overall plans of holding a range of china exposed stocks.

The current year figures look good, they have lots of cash, and Kuoni as a major shareholder who are still underwater on their investment. Overall im happy to keep holding.

[mattjos] 30/4/2010 17:22

profit, so to speak

[davydoo] 29/4/2010 22:31

what do you mean using the markets money?

[mattjos] 29/4/2010 19:34

i seem a lone voice still. Fair enough. At least the quality of the posts are more reasoned than on the PMHL thread today, so i am thankful for that to the contributors.
I'm still interested in clarification on a few points here, which will take more time to emerge so, since i am using the market's money here at present, i will wait and see for a while yet

[glasshalfull] 29/4/2010 18:30

Wish you luck with this Mattjos.

I posted my concerns way back - if you trawl back through the thread - and a cursory scan indicates that my views (unfortunately) had foundation. I'm with GI and explorer on ETC. Always tipped to produce fantastic growth and profits but never reaching the mark.

A £600k provision for fraud. The text indicates poor financial controls and that would be enough to have me scurrying for the exit.

On the plus side gross margins improving and as GI pointed out, the on-line growth looks good. However, I will never be a buyer of ETC now and have removed it from my watchlist.

Hope I'm proven wrong and you make a packet.

Regards,
GHF

[greek islander] 29/4/2010 11:47

For a company in a sector with such huge potential they continue to seriously disappoint and are clearly going nowhere. I am very keen to find a Chinese company in the travel sector anyone have any ideas?
I get the impression that we are dealing with naive inexperienced management here with little clear direction. My own feeling is that if I was a CEO of a travel company based in China, I would come in and buy the ETC online operation which seems to have the best prospects but the rest are clearly too inefficient to ever make much headway. Frankly barring a takeover I would get out of this now and quickly. Very pleased that I did that some months ago - it is proving one of my better decisions!