P2p Global Investments Share Discussion Threads

[rl34870] 22/12/2016 16:23

.27%, slipped out when everyone isn't looking...

[aroon001] 22/12/2016 16:21

I agree. I do think that if the 15% buy back doesn't work they will eventually move towards a tender offer for all the shares at a small discount to nav. Reputationally it doesn't look good to have your stock trading at such large discount.

Down 3% today so the 15% announcement not having much effect.

Out of interest does anyone know how an investment trust that trades at a discount issues new stock? RDL just issued £40m of C class stock at 1000p but presumably this will trade imminently at a discount too. So I don't understand how u would ever find rational buyers of a tap issue of an investment trust that trades at a discount. As u will always forfeit the discount.

[anley] 21/12/2016 11:19

Another 25K shares bought today so that is 75K since the new broker rule was brought in.

Nevertheless this hare and concept has been a disaster not only for the City but small investors and the big boys such as Woodford who now seems as having a habit of picking them.

My message to the City is go back to basics and get off your seats and visit UK businesses to learn how they work and then listen as to how they will make money and then you can invest. Trying to use derivatives and FX and bundling these all together is not good and just look at where its got the world banking system..........

As I type I really think P2P should run off its assets and buy back the shares asap.

[aroon001] 20/12/2016 15:36

Interesting that there are still sellers at 20% discount even with this announcement. Clearly it will take a few 0.5s 0.6s to really get the share price moving higher from here.

Just re reading the announcement it cud be that nothing has changed in terms of volumes bought etc except that it is Liberium buying with their own discretion instead of the fund manager. In which case perhaps shudnt have much effect on share price.

[anley] 20/12/2016 11:13

Good point as the second batch of 25k shares purchased this morning.

ARGOAL.......yes it is a new announcement as its the BROKER buying and not being told to do so by the HOUSE (Mr Champ). Big difference.............

Are you a shareholder or watcher/poster?

[rl34870] 20/12/2016 10:41

If they hadn't made a formal announcement regarding the buyback they would be buying shares at 7.30 rather than 7.95. Nearly £15000 a day, if buying 25000 daily.

[argoal] 19/12/2016 08:58

Friday's mop up was only 25K. So no change on the volumes being bought back yet.

I'm not convinced the buyback statement was anything new and that we will see big numbers bought back. Just the steady trickle we have already seen.

[anley] 17/12/2016 10:23

I think some of the big shareholders must have told the management that small mop up transactions was not on and that the discount must be broght back to a sensible level.

Now we have an independent party (it you believe that) buying in on published information so we shall have to wait for the December figures to see what the NAV is and how much cash can be used to enact the buy back.

Just my thoughts .............

[aroon001] 16/12/2016 17:31

great news hopefully they authorise more than 14.9% if this doesn't work. though I imagine just the threat of 15% being bought should bring the price back to 850-900.

how was this authorised in June and we only hear about it today? and I wonder why they chose today to put it into effect. Interesting how the market has already been aware of this program coming into place for a few days. some sort of inside info there.

[anley] 16/12/2016 17:06

Well, well what a surprise as the managers come up with an independent broker to buy back up to 14.9%, less those shares which have been purchased over the past few months. The brokers will be making the decision so the fund is going to be slowing wound down and I expect with an altered investment policy.

Don't be short and any small investor who wants to get out can as there is a bottom under the price.

My gut feeling is that they want to get the discount back to say 10% so until we see the next set of results it can only be estimated to be around 850p so I have increased my selling price to 850p.

Thanks Mr Champ as you must have been watching what we have been saying on this BB.

[davebowler] 15/12/2016 15:05

RMDL RM Direct Lending has just started trading at a 3.5% premium, surprisingly.

[anley] 15/12/2016 15:02

Everyone on this site should know what I do - assets at a discount - and here is a classic. I have looked at the share transactions going back for several months and what we have is a slow mop up of shares by the fund management company and sales by small shareholders - all with nervous MM.

It just so happened that I aske another City friend of mine to tell me and give me his calculations as the break-up and that was when I came in a month back with my last buy at 747p.......I am not bragging but you can read the City like a book - all gready with mates that will help them out and here is a case - so after 50 years of buying and selling here we have a good example.

I shall be out as and when they sail past 820p.......

[aroon001] 15/12/2016 13:47

that sounds exactly like what someone would say if they were losing money. Market makers are supply and demand.

[rl34870] 15/12/2016 12:02

From what I have observed the price is nothing to do with supply and demand of shares on the market but everything to do with the algorithms used by market makers.

[anley] 15/12/2016 11:48

From a trading view its interesting that with the share price nicely up this week that no shares have been bought in since 7 December. For me this means that the management is comfortable with its position and that results are steady to good!

We will wait and see..........

[rl34870] 13/12/2016 16:07

I used to subscribe to Investment Trust magazine ( no longer produced) and at the beginning of every year the editor used to give his tips for the year. Almost without exception they did well although some required a bit more patience than others- why? because he always chose the trusts with the largest discounts! So without generalising it is a tried and tested strategy- buy the difficult bit is trying to spot when the trust is hitting it's maximum discount. Unfortunately a lot of us posting here probably bought at around the same level as me (820), not thinking the discount could blow out to 27.5 per cent.

[aroon001] 13/12/2016 15:48

If I'm being negative P2P has now taken over the prize of being the p2p fund with the biggest discount!

[anley] 13/12/2016 15:20

Someone is being squeezed by the balls or what if there were to be a merger or is the market waking up..........it can carry on as my assets at a discount dealings are doing well.

[rl34870] 13/12/2016 14:52

The move into C grade loans can be seen in the changes in the pie charts produced with each months factsheets.

[rl34870] 13/12/2016 14:49

VPC have just produced an excellent investor presentation on their website which produces a lot of the info we need for P2P which is well worth a read even if you're not invested in it. Don't be too discouraged about their marketplace loan defaults as their loans are typically bands E and F whereas P2P,s are A to D. I suspect P2P will produce a further presentation ( they did a good one in February this year) when they are a little bit clearer about the future path of defaults rates. After all the rest is just tinkering, the main determinant of the share price is default rates.

[aroon001] 13/12/2016 14:30

thanks for the info rl34870. where do u get these updates from by the way? eg moving into grade C loans. are they on public newswires?

[rl34870] 13/12/2016 12:51

P2p have moved to C grade loans where the balance between interstwhile coupons and default levels is at the optimum. I think DanielDruff earlier post summed it up when he said these funds will tweak and eventuaLlysfaen come good. Loans repayments are constantly coming in and they can reinvest based on changing data which is constantly evolving.

[rl34870] 13/12/2016 12:46

Balance sheet loan is where the fund provides a line of funding to a platform and is entitled to a set proportion of the interest and critically only pays defaults where the level of defaults has gone over a predetermined limit is historical average. Perceived to be safer than marketplace loans which is what P2P invests in and whenear if the loan turns sour the fund takes the complete hit. What I find really intereating is the VPC price is starting to fly without any new info, there must be communication between company and market makers. Only way to get a decenth return on these funds is buy when flow of information and sentiment is poor, then sit tight and be patient.

[aroon001] 13/12/2016 12:12

whats a balance sheet loan?
does it really bode well going down the credit spectrum to C grade if one believes we are closer to a recessionary environment? I wonder. smacks a bit more of desperation. Good to see VPC share price up a bit.

[rl34870] 13/12/2016 12:02

Interesting to note that whilst VPC have been tweaking to reduce risk by moving more into balance sheat loans, P2P have been increasing risk reducing A grade loans and increasing C grade ones. Sentiment has improved in VPC in the last few days and maybe now is the turn for P2P.