Shires Income Share Discussion Threads

[aleman] 02/12/2024 15:47

I posted this elsewhere back on August 22nd. (Main indices have fallen marginally since.)

RPI up 32% since Q1/2020. The below are rough changes since the levels just before Covid hit in that quarter:

AIM100 -22%
SMX +16%
HIX +6%
MCX -4%
UKX +11%

So all well down if adjusted for "old" inflation. It's worrying that MCX - that bests reflects the UK economy - is down 36% when adjusted for RPI, but that's pretty much what the gut feeling on the economy is like.

So, basically, the RPI-adjusted return of MCX is now pushing 40% down over nearly 5 years. Income reinvested is not much better since its yield has been only 2.5-3%. If it feels like investing has been tough in recent years, it's because UK shares have not often performed this badly for this long.

[triskelion] 02/12/2024 15:00

Someone correct me if I have got this completely wrong in concept but... in SharePad (now rebranded ShareScope) the price chart of a security can have various comparators/overlays added by the user and one I use is UK Consumer Price Index.
In the case of SHRS and a three month conventional bar chart it indicates the share price has been below CPI since at least March 2002.
Presumably the high income nature of the IT would be used as an explanation / compensation but I wondered if there are more compelling IT securities anyone might have in mind w/o research which provide an above average level of income where the share price at least does not fall so far below CPI.
And regarding stock charts further: conventionally they aren't inflation adjusted anyway are they? Assuming not, bearing that in mind puts in a whole new perspective the idea of returns from the London markets.
That line of thought evokes an article by the then editor of CityAM, Allister Heath, on page 2 of the 1 May 2009 edition where he stated (sniping against Labour but objectively I suspect more broadly applicable to all shades of the uniparty and of equal application now)
"... For all the Anthony Bolton-led cheer about its partial recovery in recent weeks, the FTSE 100 has fallen by 26 per cent in real terms (adjusted for the consumer price index) and 9.3 per cent in nominal terms since 1 May 1997. If FTSE 100 returns are deflated by the retail price index, a better measure, its decline would be 33 per cent ...."

[deadly] 16/11/2024 10:01

DEC may well prove a very profitable hold. Excellent long-term prospects.

[davebowler] 30/9/2024 08:22

October presentation -

[essentialinvestor] 10/9/2024 16:00

Back in today for a small amount.

DEC, oh my - I mentioned previously DEC may prove a very costly hold. Approx 2% of their portfolio.

[spangle93] 12/8/2024 07:36

Nice bounce back after last week, shares trading 246-249 this morning

[spangle93] 18/6/2024 06:47

New Kepler research note from SHRS, as RNS'd this morning



On a quick scan it's more of a restatement of the case than containing anything fundamentally new

[citytilidie] 13/5/2024 20:13

Totally agree EI. They could easily have bought back hundreds of thousands from 216 onwards over the last 2 or 3 months. Shocking management from Corporate level downwards. As you say though, very happy for the increase in share price.

[essentialinvestor] 13/5/2024 13:33

Pleased with the recent price, however as mentioned it underscores a missed opportunity to conduct a NAV accretive buy back at a decent price.

[essentialinvestor] 29/4/2024 12:43

On that subject I let both the Chair and Manger know my view.

Received a detailed reply, which tbh I've not bother to read yet.

I also made the point that there appears to be too many sub size holdings and if Ian Pyle does not have conviction to build larger position sizes in, they should arguably be sold.

14/15% discount, very strong case for buying back and they slso save on paying a dividend on those shares.

[citytilidie] 29/4/2024 12:34

I’m not sure whether it was down to Shires management or Aberdeen, but Shires stopped buying back their own shares recently when the discount was almost 20%. Poor judgement in my view and they’ve missed another great opportunity to reduce the number of shares in issue to their own detriment and that of shareholders. Isn’t it strange how the FTSE is now at an all time high, whilst the main Asset managers, Aberdeen and Jupiter are trading at or near multi year lows.

[essentialinvestor] 25/4/2024 13:53

* approx £2.8 million of PF in Anglo American

[essentialinvestor] 25/4/2024 11:58

New 12 month high on NAV and they hold Anglo American, from memory - need to double check.

[essentialinvestor] 17/4/2024 11:50

Sold a few today.

[citytilidie] 16/4/2024 15:32

Great volume today with hundreds of trades going through, not just a large cross. Hopefully something in the offing

[essentialinvestor] 16/4/2024 13:52

They may have recommensed buying back.

A merger with AEI on the cards, sooner or later.

[rcturner2] 05/4/2024 20:43

Aberdeen Equity Income 8.2%
Henderson High Income 6.5%
Taylor Maritime 8.2%

[citytilidie] 05/4/2024 19:02

Always seems to be lots of 1100 SETs trades going through on a daily basis. I thought they were buy backs for a short time but obviously not. Some institution is surely picking them up, and I can see a takeover or merger coming soon. Although it would be good, due to mergers etc, I am starting to run out of good quality stocks with a reliable decent yield . Any good suggestions would be would be appreciated, probably I would imagine for the majority of people on this BB

[essentialinvestor] 04/4/2024 16:06

Another 3.2 pence divi, hopefully the Q4 nearer 4 pence.

Should be a new 12 month high on NAV, at today's close, but share price not responding atm

[essentialinvestor] 27/3/2024 16:24

Overdue move, buying back again today it seems

[essentialinvestor] 22/3/2024 15:29

They may be buying back again today.

[rcturner2] 22/3/2024 08:15

I have taken a nibble here today as the discount and yield are attractive.

[essentialinvestor] 21/3/2024 18:39

They are buying back shares, about time.

[essentialinvestor] 21/3/2024 15:58

NAV (with income) will be nicely over £2.50 on Friday's update.

[essentialinvestor] 21/3/2024 13:08

Signs of life emerging - still Very cheap.