Fisher (james) & Sons Share Discussion Threads

[medieval blacksmith] 27/10/2021 13:06

bouleversee

"My late husband and I started investing in FSJ getting on for 25 years ago and have also gifted/funded shares in FSJ for our children and grandchildren over the years and they had done very well for us till the new board took over, so recent drops in share price amount to a huge loss for my family"

I'm sorry to hear about that. I wish I could advise you as to what to do but your knowledge here will be much better than mine.

[medieval blacksmith] 27/10/2021 13:02

They are not alone in bad reporting. I have been looking at Chemring as a potential investment. They bought a company recently and stated "The consideration will be satisfied by a payment in cash on completion, funded from Chemring's existing bank facilities, and a deferred consideration payable in Chemring 1p ordinary shares in two tranches on the second and third anniversary of completion."

No price of company and no information on the tranche transactions!

I mean, come on! Terrible.

[roddiemac2] 27/10/2021 12:55

Medievil Blacksmith

You make some good points. We need more information . Statements like " The group is continuing to advance at a apace the divestment of non core businesses and assets" Are far too vague. I will attempt to get some answers from the BOD .

[terminator101] 27/10/2021 12:02

If that twit medieval blacksmith is here you are all doomed When will people learn that its normal for 3 x massive red says after a big profit warning

[bouleversee] 27/10/2021 11:59

Medieval Blacksmith -

I could have written your post myself; it expressed my sentiments exactly, including about the gut feeling. My late husband and I started investing in FSJ getting on for 25 years ago and have also gifted/funded shares in FSJ for our children and grandchildren over the years and they had done very well for us till the new board took over, so recent drops in share price amount to a huge loss for my family.

I thought it was a very badly written report (do they not have a financial PRO?) and was lacking in the respects you have mentioned and could only have resulted in the effect it has had, which as you say arouses suspicions. I wasn't able to watch the presentation (is it still accessible?)but I think it was favourably received by some long term holders. I don't think it was very long ago so surely these problems must have been known at the time. There are a lot of questions to answer. I wonder what the institutional holders are going to do about it. I'd also like to know whether the previous directors and any Fisher members retain holdings. Anyone know? Have the new directors received any LTIP benefits so far? Unfortunately, I have other urgent matters to deal with so can't spend time probing further at the moment but I am hopping mad at the turn of events.

I am also cross with myself for making the mistake of falling in love with my best performing shares instead of taking profits before they disappear.

Edit: I see someone answered my question re family holders. Thanks for that. I hope they are giving the management a hard time.

[dev80] 27/10/2021 11:52

Yeah buy why worry when you can rinse shareholders

[tabhair] 27/10/2021 11:45

Surely this is trading at too steep a discount now?

I am not saying a heavily discounted rights issue is completely off the cards, but surely it doesn't seem likely. The company has a long history of having a stable share count, the estate of the founding family still holds 22% and won't want to put more money in, the underlying business is still profitable, there are parts of the business that could be potentially sold if the worst came to it. The company has several levers to pull before it needs to consider a rights issue that no one wants.

I think the company can trade through the current issues and they can probably get back to trading at their historical 10% operating margin. If they can do £500m revenue for 2022, you put a 10x multiple on that, you get to a share price that's about 150% of the current value.

[dev80] 27/10/2021 11:42

Cashed out lol. Got a feeling this dropping under 4

[hamhamham1] 27/10/2021 11:10

437.50p is down exactly 50% from close of a month ago today (875p on 27th Sept).
Possible base area? (Fibonacci and all that), my last post on the matter, watching intra day share prices is not a great use of time IMO.

[xxxxxy] 27/10/2021 10:38

Bigger spread to consider.

[ebomber] 27/10/2021 10:34

Target price 400p to 405p before I buy in.

[hamhamham1] 27/10/2021 10:30

450p was only 4 or 5% over 430p, like I say I can never call the bottom, not that I am saying we are at the bottom, just at around price where I bought in.

[xxxxxy] 27/10/2021 10:13

Perhaps 430 would be wiser.

[hamhamham1] 27/10/2021 10:06

Once I buy I switch off watching the share price, I monitor it for an entry level, then once in watching by the hour doesn't help grow the price, am invested coz I think it will recover.
It's at a level for me where I am happy with the risk/reward and aim to keep for a few years.
Good luck all :)

Obviously I still look at it as part of my overall portfolio value, but tend to have a weekly look at that as hourly/daily moves across a group of shares will always show moments when some shine and some don't.
Long term game for me, 3-5 years holding across the portfolio is my target, then have a look at it then.
Recessions come say every 7 or 8 years on average?

[hamhamham1] 27/10/2021 09:46

I can never call the bottom. I don't have those powers :)

[xxxxxy] 27/10/2021 09:28

Itchy and Nervy

[xxxxxy] 27/10/2021 09:26

Maybe 435 ish.?

[hamhamham1] 27/10/2021 09:09

Bought in at 450p.
Tuck away for a couple of years.
Time will tell ;)

[salpara111] 27/10/2021 08:41

I guess the market is spooked by the idea of a distressed fundraising at a heavy discount.

[elsa7878] 27/10/2021 08:36

Debt = market cap soon.....not a good place to be.....can't see how they can avoid a placing. Business sales / divestments will take months and their debt review is at year end.

[pugugly] 27/10/2021 08:33

And the fall continues Now 442/449p - Any gambler guess where and when the falling knife stops?