Tavistock Investments Share Discussion Threads

[davydoo] 04/1/2019 09:09

I'm taking your posts, and showing how the reality of the good points you are both making is actually even stronger.

If you find increased knowledge and insight from someone who works in this industry annoying, it only makes me worry

edit. I also did give new information, with a potential sum of the parts valuation

[davydoo] 03/1/2019 15:47

If you want to get excited about valuations

Think about the multiples AFH (and others) are paying for advisory businesses, it is often 3x annual revenue. Which is potentially £65m for TAVI

Plus, a multiple of the assets in its fund management business of perhaps 2% of assets, so potentially £20m already, and growing fast

It's not beyond possibility to see this sorted out, grow, and being worth £100m, and on their £7m profit target for share options, trading at a 14x multiple. When AFH is at 22x

gla

[davydoo] 03/1/2019 15:39

Just to say that QuePasa's recent numbers are not as easily comparable as they might seem

TAVI AUM £950m MKT CAP £19m
AFH AUM £4.5bn MKT CAP £165m


AFH is consolidating advisory businesses. That £4.5bn is the client assets managed by the various firms/advisers it has acquired. It will then be invested with other fund managers, with AFH taking a fee for all its advice, including tax and financial planning.

TAVI's £950m is in it's own funds, some of which will be from it's own advisory clients, so that TAVI pick up two points of the value chain.

As per the interim results, TAVI's own advisory assets are £3.5bn. They're just not earning as much income, and it seems virtually no profit, on these assets, the way that AFH are.

[davydoo] 03/1/2019 15:24

I'm in. Nice to see you again Mattjos

I'm in because the attention seems to be on the fund management business, but I think the value is in the advisory business, in either supplying clients to the fund management business, or on a stand alone basis.

For disclosure, I am a Director of a company in this space, not dissimilar to the price bailey financial planning business they own.

[chrisdgb] 02/1/2019 08:49

Happy New Year all Tavistock followers, should be an interesting period and how Lighthouse relationship works..!?

[mattjos] 22/11/2018 16:21

I wouldn't worry about that … make your own mind up on these things. Allenby might pull their finger out after the divi is detailed

[chrisdgb] 22/11/2018 16:09

Still no note from Allenby..........

[mattjos] 22/11/2018 15:59

any other new investors, lurking here, wish to declare a position yet?

[celeritas] 22/11/2018 15:55

Someone must have beat me in as stock was tight, expecting late reported trades as nothing is showing yet.

[celeritas] 22/11/2018 15:51

I've been looking over tavi for a few weeks now, decided to take an initial holding.

[parsons4] 14/11/2018 17:00

Topped up today, the market cap is much too low IMHO. This was a big deal today and should increase profits hugely with only a very small dilution.

[chrisdgb] 14/11/2018 13:31

Looks really good, Brian Raven certainly has plenty of skin in the game......

[algorithmicx] 14/11/2018 11:34

This is the floor. Expect upwards momentum once the dust settles.
Stronger balance sheet also

[mattjos] 14/11/2018 08:25

Very interesting

[chrisdgb] 14/11/2018 07:58

Fascinating announcement today, sounds very positive.............!!!

[chrisdgb] 13/11/2018 08:28

Perfect thanks for that, leaves plenty of scope for the valuation differential to close...

[chrisdgb] 12/11/2018 09:13

Does anyone know how the 2 compare in terms of AUM/Market Cap///??