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LONG Longships

8.25
0.00 (0.00%)
18 Jul 2025 - Closed
Share Name Share Symbol Market Type Share ISIN Share Description
Longships LSE:LONG London Ordinary Share GB00B2PKZ581 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 8.25 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 8.25 GBX

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Posted at 03/7/2025 18:58 by mpage when the LONG share price was 8.25p.
Yes I agree with all of that. Pension fund managers tend to be more long term backers, less so these days. Momentum is only one of the parts of that matrix. And remember that momentum itself is one of the small number of factors found to have driven share prices, along with size(small), volatility(low)and quality(high). So it is a valid/useful indicator. Isn't that why some people use charts/moving averages, golden/death crosses. Tony Bolton at Fidelity certainly did - as an extra check.

Warren Buffett did all sorts of fast action stuff during his first ten years. Wouldn't even tell his investors what he was buying! Took him many, many years to come around to 'my favourite holding period is forever'.

I always remind myself that she (and all the others) is running a fund and has to 'perform' - it's a relative game for them - benchmark, peers etc. Their job is to grow assets under management by growing the fund thro stockpicking and thus attracting new investors. Whereas chaps like us might be quite satisfied to know what we own, be patient and earn oh say 8%-9% pa on average and enjoy the divi growth. We are probably not going to sack ourselves.

I'm sure they'll be looking at the reasons for PW and the usually outsized scale of the market reaction to the news (e.g. look at Bytes Tech yesterday, or Spire Healthcare after it said employee costs would set it back a year) before deciding what to do. After all, they might go back in again after 12-18 months, so they'll want to keep on top of their companies even if they don't always hold them.

In summary - I wouldn't be too damning about fund managers - they're playing a different game and are constrained by being forever on show (to clients) against their peers day in, day out - not to mention all their colleagues in the office who have the attribution spreadsheets and can see all the trades.

Clients don't understand that a hit rate of six out of ten is actually pretty good for an equity stockpicker. And since it's Wimbledon week I'll just add that players like Federer and Nadal 'only' won around 55% of their second serves - but it was more than enough.
Posted at 03/7/2025 16:42 by mpage when the LONG share price was 8.25p.
FWIW Abby Glennie is using the fancy spreadsheet (the matrix) that the previous manager Harry Nimmo designed and used to mostly good effect. One of the deciding factors in it is share price momentum. TET shares quite clearly lost that after the PW in April, so she cut it.

Unlike individual investors, she is running a large portfolio, has a board to answer to, a career to build and an end of year bonus to earn. It's not that she is a trader but that her interests are differently aligned to ours. Might also be worth reminding ourselves that she is the deputy PM - it might not have been her call. In addition, when the open-ended fund faces redemptions something has to be trimmed/sold. Can't have a long tail of 0.2% holdings.

She'll sometimes say one thing and do another. E.g. saying how BOWL is a great little business with superb management (both seemingly true) while actually trimming her holding as the share price loses - yes you've guessed - momentum.

That said, it's great that these fund managers will talk fairly openly about businesses and their characteristics - there's plenty to learn/cross-reference.

I spent over twenty years working closely with lots of fund managers - only a handful were 'traders'. But as Andy Brough says, "Shares are for buying and selling, not collecting."
Posted at 14/6/2025 12:17 by igoe104
My Long Suffering investment trust, SEIT Now 14% yield, which I held of 6 years and is about 50% down, is IC main tip.

Tip of the week in the IC

Bag a 14% yield with this trust

Investors are being paid to wait for a recovery in sentiment towards this energy efficiency trust

With every single renewable energy infrastructure trust trading well below its net asset value (NAV), pinpointing the best opportunities is tough. The entire sector looks cheap, but it is also facing significant headwinds, and catalysts for a quick recovery are in short supply. However, some of these trusts stand out for their juicy yields and especially disproportionate discounts – and SDCL Efficiency Income (SEIT) is an obvious example.

SDCL Efficiency Income bull points

- Outsized discount to NAV

- Attractive yield

- Diverse portfolio of energy efficiency assets

- Potential for corporate action

Over the past three years, renewable energy trusts have faced a perfect storm. Until the second half of 2022, investors flocked to the sector because it was hard to find equally attractive yields elsewhere. But the rise of interest rates created competition from other income assets, chiefly bonds and cash, which had previously offered much smaller payouts. Meanwhile, discount rates increased, impacting valuations. Share prices started trading below the trusts’ NAV, and have not recovered since, which also means they can’t raise equity to grow or pay off debt.

As at 5 June, the Association of Investment Companies’ renewable energy infrastructure sector was trading on an average discount of 28 per cent, reflecting an imbalance between supply and investors’ demand for this kind of asset. Excluding trusts with less than £200mn in assets, SDCL was the cheapest of the pack by some distance, with a massive discount of 52.1 per cent.

The depressed share price means that the trust currently offers a yield of about 14 per cent. In many cases, investors in the renewable energy infrastructure sector are being paid to wait for either a recovery of the share price or some form of corporate action; with SDCL, the pay on offer is especially handsome.

SDCL is a little different from the average renewable infrastructure trust investing in, for example, wind or solar farms. Instead, it focuses on the theme of energy efficiency, starting from the idea that about two-thirds of the energy we produce gets lost in the processes of generation, transmission and distribution. SDCL invests either in assets that generate energy at the point of use (where it’s needed, so it doesn’t get wasted in transport) or in those that reduce energy demand.
Posted at 22/5/2025 09:04 by cfro
Lovely divi from AV and pleasing to see the share price up and through 600p.

I reckon the share price could rise to 700p and this would still be a good buy with a dividend yield at that price of over 5% and rising each year by at least that amount..
Posted at 14/5/2025 10:46 by igoe104
Yeah it must be. I well out of that one, after years of the share price being down..
Posted at 08/5/2025 12:50 by igoe104
I had to laugh when Rich Edwards said the fund only sold at £2 25 because it believed the share price would drop lower. Some of These fund managers are totally useless..
Posted at 02/5/2025 13:55 by igoe104
Big swing in my portfolio from 5% down to 5% up now.

FNX and CNC two others that have moved up alot in the past couple of weeks..


One share frustrating me is smurfit westrock. CEO has given himself a massive pay rise yet he still sold loads of shares and the share price has fallen 30% on the year...
Posted at 17/4/2025 16:21 by igoe104
Portfolio update.

Just sold out of SHED, This afternoon as the share price went over takeover price, thats been offered. (Over 0.5p)

Plus part of deal was having some LondonMetric shares which I didn't want, so would have to sell..

New Purchase LGEN, just in time for the dividend, straight (swap in value..)
Posted at 18/3/2025 11:25 by cfro
Orange futures are talked about a lot in Treatts annual report but i don't think they are in JDW's annual report lol..

Currently a large part of TETs profits come from citrus and with orange prices down it wouldn't surprise me if their next statement was a bit softer..

If so i can see the share price falling a bit more but i have a huge amount of confidence in the new CEO and the FD is very impressive.

For me the share price is now in top-up territory and i am planning on doing just that when funds allow..

I think as investors we do need to be prepared for every eventuality. These markets are so unpredictable.
Who would have thought that supermarket investors would suffer through price wars for instance. Even the defence stocks are warning now because of slower orders..
Posted at 19/2/2025 16:59 by pinemartin9
I posted this on the ITV thread, but given the nature of the investors on here it may be of interest:


I've been playing around with ChatGPT. In case it's any good for others on here here's a neat template for asking it to work out CAGR with time weighted dividends:

Compute the CAGR with time-weighted dividends for:
Stock Name & Ticker: ITV (ITV.L)

Purchase Details:
01/09/22: 100 shares @ 62.77p
13/09/23: 100 shares @ 72.22p
16/01/24: 100 shares @ 59.75p
Current Share Price: 75p

Dividend Payments:
28/11/22: 1.7p per share for 100 shares
25/05/23: 3.3p per share for 100 shares
28/11/23: 1.7p per share for 200 shares
23/05/24: 3.3p per share for 300 shares
26/11/24: 1.7p per share for 300 shares
Final Date for CAGR Calculation: 26/11/24


* Position sizes changed for calculation and public sharing. Just substitute the ticker, dates, dividends etc and hey presto. There may be other software or platforms that calculate this automatically for you, but mine don't! Mine comes out at at Time-Weighted CAGR with Dividends of 16.4%. I'm off to apply this to a few other stocks I own. Do people on here tend to look at CAGR or total returns out of interest?


When it comes to evaluating stock investments, the choice between CAGR (Compound Annual Growth Rate) with time-weighted dividends and absolute % returns depends on the specific perspective you're interested in and the nature of your investment strategy. Here's a breakdown to help decide which approach is best for you:

1. CAGR with Time-Weighted Dividends:
Best for evaluating long-term growth:
CAGR is ideal for measuring the annualized growth rate of your investment over time, especially when you want to account for the effect of reinvested dividends and other factors that influence returns over multiple periods.
Accounts for compounding:
This method reflects how your investment grows over time, considering both capital appreciation (share price increases) and dividends (assuming they're reinvested).
Ideal for long-term investors:
If you're holding shares for a long period (years or decades) and reinvesting dividends, CAGR helps you measure the real growth rate of your portfolio.
Time-weighted:
Time-weighting ensures that the growth rate reflects how much time capital is actually invested, which is important when you make additional investments at different times. This makes it more suitable for analyzing ongoing investments.
Use CAGR when:

You want to understand the consistent annual growth of your investment.
You’ve made multiple purchases at different times.
You are factoring in reinvested dividends.
You want a compounded annual return that reflects your growth rate over time.
2. Absolute % Returns:
Best for shorter-term or simple evaluation:
Absolute returns are straightforward and give you a simple snapshot of how much your investment has gained or lost in total, from the point of purchase to the current date. This method is useful for shorter-term investors who are focused on actual returns rather than compounding effects.
Doesn't account for compounding:
Unlike CAGR, absolute returns don't take into account the time over which the investment has occurred. If you’re interested in the total profit from an investment (without annualizing), this is the more direct method.
Ideal for quick evaluations:
If you’re trying to assess the performance of your portfolio in a more direct way (for example, over the last few months or a single year), absolute returns are easier to grasp and can be more informative for that shorter time horizon.
Use Absolute % Returns when:

You’re focused on the total profit over a given period.
You are not reinvesting dividends or want a simple return figure.
You're interested in seeing how much you gained or lost without considering the impact of time.
Key Considerations:
CAGR with Time-Weighted Dividends will give you a more accurate and meaningful picture of long-term performance, especially if dividends are reinvested, as it accounts for compounding.
Absolute % Returns are better for a simple, one-time assessment of how much you've gained or lost since buying shares, without considering reinvestment or the time value of money.
Which Should You Use?
Long-Term Perspective: If you plan on holding stocks for the long term and reinvesting dividends, CAGR with time-weighted dividends is definitely the better measure because it reflects the real growth rate of your investment.
Short-Term or Quick Evaluation: If you're assessing the current performance of your stock in the short-term or want a straightforward measure of how much you've gained or lost, absolute returns might be the better option.
In general, for serious, long-term investment analysis, CAGR (with dividends reinvested) is considered the best way to evaluate your return because it provides a more complete and accurate picture of your stock's true growth over time.
Longships share price data is direct from the London Stock Exchange

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