Marwyn Value Investors Share Discussion Threads

[skyship] 21/3/2020 17:47

I think I'm right to say that they are now trading at a discount to cash in the B/s.

[essentialinvestor] 20/3/2020 15:24

Hp, just wondering how frequently some of the unquoted private equity book
is updated on valuation, if that is just on funding rounds?, there could
be sizeable drops to come?, Dependent on wider markets etc.

[hugepants] 20/3/2020 15:19

yep there may be some doubt as to accuracy of the NAV. However I take some comfort from the fact the share price didn't even get this low during the financial crisis.

MVI is another one where the NAV has held up well although there's a good reason for that! More by luck than judgement Id suggest.

[essentialinvestor] 20/3/2020 13:07

It's Gavin btw. Just wonder about some of what they hold?.
An increasing amount of the book is unquoated, the market may want to ascribe
a higher % discount during this extremely high volitility environment?.


Also disappointing to see none of the BOD buying, or the Manger,
even at these levels?.

Have it on a watchlist.

[hugepants] 20/3/2020 12:52

EE, yes still holding adig. The NAV has been very resilient considering so Id hope the share price will recover.

[essentialinvestor] 19/3/2020 13:42

Hp, I'd you are around, any thoughts on ADIG?.
Not holding atm.

[essentialinvestor] 13/3/2020 11:04

Hi Jack, many thanks. I've bought a lot of PRU, may be rash.
If it keeps falling it may bring me out in a rash!.

[cousin jack] 13/3/2020 11:02

Hi EI. A couple on my watch list may be of interest. Firstly ASLI. Down 7.5% on last month. Yield s 5.7% and with a discount to NAV of 5.3% (normally at premium to NAV). Of course NAV figure may be a bit unreliable at present. However I can't think European warehouses will be much affected by Covid in the medium term - maybe the opposite in fact- so this seems a good solid share for an income portfolio, although maybe you are looking for something with greater recovery potential ? I'm also looking to invest in infrastructure as I think many governments will be ramping up spending on projects in coming months as a stimulus. SEQI is the one I'm considering as I like the geographical spread. It's a 5.8% yield and currently at a 10 year low. I've not bought either share yet but may start gradually accumulating on a future red day. Good luck.

[essentialinvestor] 13/3/2020 08:18

If anyone has some current stock ideas, would be interested to hear, thanks.

[essentialinvestor] 28/2/2020 12:43

Well when I posted ...I've been way too cautious on markets since early June
being heavily in cash - that was accurate!. What a difference a few weeks makes, eh.

[essentialinvestor] 21/2/2020 12:23

I sold yesterday at 11.40, had wanted 11.50 as mentioned,
and bought back this morning under NAV. Under NAV on LTI,
who would have thought that 6 months ago!. It's a very small position.

I'm hoping some continued market volatility may throw up some opportunities,
have been too cautious on markets since last June.

[spectoacc] 18/2/2020 06:55

Thanks @EI, too kind. Best of luck with LTI, certainly a better bet than bloody MVI :)

[essentialinvestor] 17/2/2020 16:48

Spec, just in case you don't see the post - thanks for your input on the LTI board,
Found the posts both constructive and well balanced.


Off topic, apologies.

[spectoacc] 03/2/2020 13:53

Not sure where the return is on MVI tbh, beyond Greater Fool - no divi, only cash returns via MVIR. Invesco with a lot to sell (was it them at 90p the other day, can't remember seeing it confirmed?).

Current discount not unusual - if look at 10yr discount chart on HL, other than the big spike to -10% on ETO sale, it's down around where it always is. And not convinced that's low enough. Tho I accept there's an argument that there's a "double discount" on ZEG. Double fees too, on all these sub-co's.

But good luck - takes two to make a market.

[skyship] 03/2/2020 13:37

No, missed that, finally came good.

Have however finally decided to buy back in for a few here. Offered at 99p; but went for just 10k, got the hit at 97p.

[tiltonboy] 03/2/2020 13:35

Did anybody buy HAST...

[essentialinvestor] 03/2/2020 12:16

HP, ADIG has held up better than I expected, it's often knocked down to around 1.06
on any market weaknes.

I've been adding to Asian and EM trusts, not sure is that brave or foolish.

[tiltonboy] 03/2/2020 11:00

Missed the holdings announcement on Friday. Armstrong Investments up to 10%.

[hugepants] 03/2/2020 10:56

discount > 40%. 90% of market cap covered by cash. This SHOULD be a really good hedge against markets going south.

[essentialinvestor] 03/2/2020 10:53

I was looking at this a few weeks back so thanks to those who cautioned.

[hugepants] 03/2/2020 09:54

97p to buy now. Who is in charge of the buyback!

[essentialinvestor] 31/1/2020 09:09

With the size of the Invesco holding, is there a reason they have not agitated
for greater capital returns rather than new investments.
Apologies if that question misses something fundamental.

[essentialinvestor] 30/1/2020 15:49

May be some market opportunities next week.

[spectoacc] 30/1/2020 09:12

90p! Missed that. HONY got in on some of the dump (850p) but my experience is that Woody & Invesco have little interest in getting the best price by involving everyone.

Spoke to another co (who shall remain nameless) who also suffered a dumping recently, and even they weren't able to get in on it. But generally, the co's have a chance (eg OCI, twice now, on Invesco sells) but us mere mortals going through our regular brokers can't get near them.

Not saying I'd have been a buyer of MVI even at 90p but.............

[tiltonboy] 30/1/2020 09:04

Well. that was disappointing. Neither of the big trades in MVI and ZEG yesterday were bought back by the respective companies.