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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Goldman D GBP | GSDO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 75.625 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 75.625 |
| Top Posts |
|---|
Posted at 19/8/2009 13:05 by gdp2 Better performance, also been reflected in the slow tick up of the share price over the last week |
Posted at 01/1/2009 19:40 by 19joyns59 Agreed, but those who are patient will be rewarded in these names and I'm not sure that the opportunity will remain around for too long. I'm more than happy taking advantage of investors who panic out at irrational prices! Anyone selling now is mad, regardless of whether the funds have failed to deliver on what was promised and even a worse case scenario of a further Madoff or two (highly unlikely in my view) is more than discounted in what are extremely diversified funds. The smaller funds are particularly attractive in this respect as there should be no liquidity issues if their boards ultimately decide that closing them down is the only way to remove the discount. I'm sure shareholder pressure will increasingly force this on them (and I've had experience on this with a number of trusts I've been directly involved with in the past), especially once vulture funds start to take an interest in this sector, which they will inevitably do. These funds are a six to twelve months opportunity in my opinion, so I don't think that you'll go far wrong buying them now. Both TRMA and GSDO have bounced 10%+ since I bought into them last week. I expect a lot more and will be buying more over the next few weeks as I struggle to see such compelling risk / reward investment opportunities elsewhere in the current market. |
Posted at 21/12/2008 16:40 by 19joyns59 Agreed, but I've started buying a basket of these names (TIC,TRMA,GSDO). My rationale is that the discount narrowing that we will ultimately see will more than offset any NAV drawdown that occurs (what probability is there of them falling another 20%? I think it is extremely low given the risk aversion that has been sweeping through the sector), which makes these an extremely compelling investment against any risk-free asset in the market i.e. cash / govt bonds, over the next 6 - 12 months. My timing might not be perfect, but irrational selling by other investors should be taken advantage of, particularly in thin markets around Christmas. The arrival of a further "Madoff" discount has moved these from attractive to compelling. I've held back on this sector for long enough and no-one else seems prepared to commit (again like certain "high quality / low risk" split caps in 2002. Another closed-end fund you should look at is IPE. You will be able to get out of this at NAV by May 09 as this fund will not get a renewal vote, given the terrible performance that it has delivered when it was supposed to be an absolute return fund. 20%ish in equities and the rest in credit, so a good "risk asset" recovery play with little 6 months downside given the 15%+ NAV discount and likely closing of the fund. |
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