Marston's Share Discussion Threads

[cc2014] 02/8/2018 11:33

I subscribe to the so many under-priced shares as well.

FTSE is full of large companies with foreign earnings, which given state of cable makes them look attractive. Many oil but HSBA as well.

If you believe Brexit gets sorted cable will move, dollar earnings will stay the same but FTSE will fall. So, I'm avoiding those having sold out all my oil far too early about a year ago.

I have lots of UK focused stocks and these are just falling and falling until the dividend yield is getting crazy. I appreciate bond yields are going up so this makes high yielding shares look less attractive but the balance is too far out.

However, with savings rates at an all time low, less and less money pours into the stock market (pensions aside) so it's all a matter of demand and supply I guess.

I consider a 8% yield pretty fantastic but clearly if no-one wants to buy as they would rather spend their money on a house, a car or living in the moment and don't have money left over to invest in a simple savings account never mind the stock market that's where we are.

All the speculative money is going into crypto and P2P lending. Until that changes I'll be collecting stocks such as MARS and reinvesting dividends... Maybe I'm old fashioned...

[pj fozzie] 02/8/2018 11:18

Careful,

You write "I never remember seeing so many underpriced shares." - and I've seen similar sentiments expressed elsewhere. Yet the FTSE is in kissing distance of all time highs and other pundits are predicting the market is overheated and we're due another crash (trade wars/brexit/blah blah/etc).

How do you reconcile those two opposing views?

Cheers,
PJ

[poolies3] 02/8/2018 10:29

Love this share
Any good news is totally ignored
But when Mab come out with a dodgy update mark Mars down again Crazy

[llef] 02/8/2018 08:42

MABs results implied good beer sales, but poorer food sales.
In some ways, that's better for MARS, as at least MARS has a brewing arm?

[cc2014] 02/8/2018 08:29

Well I am a little surprised at just how low this has gone. 92p wow. My average is 99p although on some on if I've had some dividends. Not my best trade but I've got far worse.

I think it's less to do with MARS itself but the market overall. After all if you can get a 5.7% yield on AV. then it's reasonable to argue that a premium over this would be required on MARS.

Interesting times. I consider the market has gone irrational but I've held that view for some time. Will we all look back in a years time and wish we'd loaded up at the opportunity of a lifetime or will we be sitting looking at even higher dividend yields.

MAB's results were pretty uninspiring.

[the deacon] 02/8/2018 08:19

Being dragged down by MAB's less than impressive update

[rcturner2] 02/8/2018 08:17

Careful, you need to work out why the market doesn't like this. Your views on the nav have no bearing on the share price.

[my retirement fund] 01/8/2018 22:43

A few PIs faces burning here lately and its not the summer sunshine either !

[spacecake] 01/8/2018 18:32

EI, the mortgage advisor had a duty to ask me if I wanted a fixed rate mortgage !

[essentialinvestor] 01/8/2018 17:26

Luckily they were only 15% for a few hrs Tuesday afternoon from memory,
first cut was next day on the ERM exit, however the huge economic damage was already done.

[spacecake] 01/8/2018 17:09

My first mortgage was 3.5 X max back in 1991, interest rates 15%.

It will all end horribly, it always does.

[jeffian] 01/8/2018 16:33

Mind you, PUB used to claim that their NAV was over 350p/share......just before they accepted a recommended bid from Heineken for 180p!

[jeffian] 01/8/2018 16:29

"careful1 Aug '18 - 15:40 - 2827 of 2832
0 0 0
This is today valued at about 60% of net assets"


See #2761 above.


If that's your criteria, you should be hoovering up EIG where the shares stand at 47% of NAV.

[gerdmuller] 01/8/2018 16:16

Not followed these for long so I don't know what you total return on dividends would be, but I would bet it's far higher than if you had left the money in a building society. So not all negative.

Also interesting perspective on housing market value. Just looked at the ONS report and in 1997 the figure was just 3.5 times.

Of course interest rates were a lot higher then.

So many people are probably seeing property as a 'risk free' investment for their pension and not bothering with shares. Those sorts of figures though would make a large rise in interest rates political suicide.

BofE is totally independent so it can never happen! Or could it!

[careful] 01/8/2018 16:10

so you received dividends of about 40p, and sold one third at 70p per share profit.
that seem not too bad, and the share price could improve going forward.
you did much better than risk free deposits.

have we become too greedy?
5-6% p.a.is realistic.

[skinny] 01/8/2018 16:01

As I've mentioned before, I bought these in December 2011 @93.47 at what I thought then was a too low price - I didn't expect to see them back here after 7 years.

Obviously I've had the dividends and sold a third @164.28p along the way - but even so.

[careful] 01/8/2018 15:53

The trouble is that shares are long term investments.
Despite short term market volatility, high frequency day traders, these are businesses.
Well run businesses will do well in the long term, but it takes time.


We all check them very day.
But we should buy then forget for a few years.
Take the dividends.

[janekane] 01/8/2018 15:43

I never invested here to have to wait 10 years and how long will it take to get my huge % loss back
This company is a disgrace and needs to change the business model and its perpetrators

[careful] 01/8/2018 15:40

This is today valued at about 60% of net assets and 60% of annual turnover.
A ridiculous valuation.

[careful] 01/8/2018 15:37

I never remember seeing so many underpriced shares.
Relative to residential property (where average houses now cost about 7 times average earnings) shares are excellent value.

Marstons are priced to fail, as are many others.
There is risk in any share purchase, (and property), but the cult of equity is clearly dead.
No one is interested in buying because they fear risk, so shares are cheap.

If Marston do reasonably well over the next 10 years we could make huge % gains.

[123trev] 01/8/2018 12:25

This is just relentless and the reason you should never try and catch a falling knife even if it’s in super slow motion.

[quady] 31/7/2018 18:21

Take it you guys have sold out and are awaiting 70-80p then?

Rock on for being to buy into a 10%+ yielder.