Tolent Share Discussion Threads

[energyi] 17/1/2006 18:17

HOPING AND PRAYING WORKS NO MORE...

Will diversifying to international equities provide the desired protection when US consumer spending slows? Just as there are always opportunities somewhere in the US, there will be international firms that thrive in this environment. However, most large international firms--and those are the ones many mutual funds invest in--have significant exposure to the American consumer. Natural resource rich countries, such as Australia, New Zealand and Canada may be long-term beneficiaries of a world that is determined to consume. It is difficult to predict how commodity prices will behave short-term, but as Asia's economies are developing, they are bound to be increasing users of commodities. As commodity investments tend to be volatile, they are not for everyone. It does not make it easier that the share prices of companies involved in the commodity sectors do not always correlate with the prices of the underlying commodities.

The key change to your retirement planning is that you can no longer assume that US dollar cash is the "risk free" alternative upon which to base your model. Greenspan, Bernanke and central bankers around the world are calling for an orderly adjustment of the global financial imbalances, as evidenced by the current account deficit. Even a weaker dollar may only temporarily alleviate the pressures on the dollar unless domestic savings and investment receive a higher priority in policy decisions. A weaker dollar is politically the easiest solution to address entitlement issues: politicians can promise their constituents that retirement benefits will be paid, yet the purchasing power of what will be paid is eroding. The main danger of allowing the dollar to depreciate is to import significant inflation.

It is not possible to substitute cash holdings with something "safe". However, it may be worthwhile exploring whether to employ a basket of hard currencies in lieu of some of the cash to mitigate the risk of a decline of the dollar. We are not suggesting to introduce active currency trading to your portfolio. But you may want to evaluate whether you may be better positioned to withstand what may be long-term pressures on the dollar by providing them with exposure to a basket of hard currencies and possibly gold. We believe these pressures may be long-term as both fiscal and monetary policies over the past couple of years have been very consistent; it is these policies that have amplified the pressures on the dollar and are partially responsible why the dollar declined by over 40% from its peak to its low versus the euro.

It is the economic environment that led us to establish the Merk Hard Currency Fund. We hear central banks and politicians "hope and pray" that the adjustment process will be slow and gradual. When it comes to structuring your portfolio, you may wish to consider whether you are prepared to potentially profit from the scenarios described.

...MORE:

[jeff h] 17/1/2006 08:45

Your welcome Piedro...and congrats for sticking in.

I notice today Terrace Hill say that construction on their Newcastle Time Central site will commence this month.

They previously talked about it as having tenders in of approx £12m for the work.

They were very happy with Tolent doing the demolition work...perhaps Tolent have now got the construction contract as well.

[santangello] 16/1/2006 22:28

Nice mark-up.

Buyers coming on board.

Be nice to carry some momentum towards pre-lims in February.

[piedro] 16/1/2006 16:26

Quite some jump - £2.50

(If only to get ahead of the Treasury Long Term Bond discussion thread)

LOL.

[energyi] 13/1/2006 22:53

Hedge For Amt $ 199326
Notion TLT cont. 92.00
Symbol Mo./ Pr. 2167 Shares $ Value Intr IntrV TimeV
VLJMQ J'07. 95P. 5.30 1200 .. 6,360 3.00 3,600 2,760
YLIMV J'08.100P 10.20 1000 . 10,200 8.00 8,000 2,200
- - - - - - - - 92.00 ==== . ====== .... ===== =====
. . . . . . . . 92.03 2200 . 16,560 ... 11,600 4,960

[energyi] 13/1/2006 21:55

Fed and Treasury Daily Update - Thursday, January 12, 2006

The Fed had a busy day. They added $10 billion in 14 day and $7 billion in
overnight repos, plus they announced a $1.25 billion outright Treasury bill
purchase. The 5-day net rose to a $9.25 billion net drain. Total liquid assets remain near the lower channel line of the longterm 7.5% growth channel. It was just over a week ago that they blew their asset base through the top of the long-term growth channel. The line is now well below the 21-day moving average.

The size of the December spike, while inexplicably large, follows the year-end pattern of the past four years. If they are following the model, then they would continue to gradually withdraw the liquidity they added for the holidays throughout the first quarter. So far, the pullback has been anything but gradual. In six days they took back about 2/3 of what they added over the last two months.

[energyi] 13/1/2006 15:27

HEDGING US$ PENSION FLOWS== with TLT puts

------------- : ---Mar.2006---- : ---Jun.2006---- : ---Jan.2007---- : ---Jan.2008---- :
--------------:TLTOO:ILTOQ:ILTOV:TLTRO:ILTRQ:ILTRV:VJLMO:VLJMQ:VJLMV:YLIMO:YLIMQ:YLIMV:
Date/Spot TLT : 93p : 95p :100p : 93p : 95p :100p : 93p : 95p :100p : 93p : 95p :100p :
13.JanID 91.90: 2.10, 3.60, 8.40: 3.00, 4.30, 8.60: 4.40, 5.55, 9.20: 6.00, 7.15,10.40:
13.Jan : 92.03: 1.90, 3.40, 8.20: 2.90, 4.20, 8.40: 4.20, 5.30, 9.10: 5.90, 7.00,10.20:
17.JanID 92.20: 1.90, 3.40, 8.10: 2.85, 4.10, 8.30: 4.20, 5.35, 9.00: 5.85, 7.00,10.25:

[energyi] 13/1/2006 15:15

2006 could be the year of the 'raise'
==========================
Moskow speech this evening:

The usual stuff about the economy being good and core inflation being OK but check out these comments:

Fed may need to raise rates past 'neutral' point

Fed is near the bottom of 'neutral' rate range

Inflation near upper end of his 'comfort zone'

Slack in labor, capital resources mostly gone

So nothing too alarming but clearly more hawkish than the market has been used to recently. We're still in an environment of easy money especially when you consider that wage growth (which is a key determinant of inflation) has been trending up nicely since bottoming in early 04 at 1.6% annuaized, and is now above 3%. According to Steve Liesman of CNBC, 2006 could be the year of the 'raise'. Such talk will keep the Fed on guard. No wonder I have a bearish view on the financial sector after the recent run up.

"K"
@:

[geologic] 05/1/2006 13:38

FOMC Minutes Belie the Threat Posed by Inflation

By Katie Benner
TheStreet.com Staff Reporter
1/4/2006 1:36 PM EST
Click here for more stories by Katie Benner

Wall Street rallied Tuesday after the Federal Open Market Committee's Dec. 13 meeting minutes raised hopes that the era of "measured" rate hikes will soon end. The forecast also soothed investors worried about whether last week's yield curve inversions meant an economic slowdown.

The yield curve refers to the upward sloping graph normally created by bond yields in the Treasury market, with yields on shorter-maturity debt typically lower than those on longer maturities to compensate for the fact that it's riskier to lend money for a longer period of time.



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An inversion can signal recession because it shows that long-term investors are settling for lower yields now because they think the economy will slow and rates will go even lower.

So when the yield on the two-year note moved above that on the 10-year in late December, economists including John Herrmann, with Cantor Fitzgerald, said the time had come for the Federal Reserve to stop raising the short-term lending rate, which it has pushed to 4.25% from 1% since June 2004.

But Michael Darda, chief economist at MKM Partners, says the yield-curve inversion isn't an accurate predictor of recession because the 10-year note is out of whack. And if the market continues to believe the 10-year yield's false signals and the Fed stops raising short term rates in early 2006, then inflation, not recession, will slam the economy.
A Wayward Note
The benchmark 10-year note has marched to the beat of its own drummer since the central bank began its series of quarter-point rate hikes in June 2004. Since that time, the 10-year yield dropped from 4.61% to about 4.35% in recent trading Wednesday, a decline Fed Chairman Alan Greenspan famously dubbed a "conundrum" in early 2005.

"If you look at the ratio of municipal bonds and the way they measure against all other interest rates, it looks pretty average against them all except for one, the 10-year Treasury," said Hugh Johnson, chairman of Johnson Illington Advisors. "And that yield is far too low."

@:

[energyi] 04/1/2006 18:06

TLTMO TLT JAN 2006 93.00 PUT : Last [Tick] 1.35[ - ]
Bid 1.15 Bid Size 1,100
Ask 1.25 Ask Size 220
Open 1.40
Volume 11
Day High 1.40 Day Low 1.35 Previous Close 1.35

[piedro] 04/1/2006 01:34

JeffH,

Thanks for the update.
It's what I call a silent company.
Been in since 80p.

[jeff h] 02/1/2006 13:40

Hola Piedro...well 'stone' me you fed up waiting for news?

How about this to wake you up from today's Telegraph:-

Mike Foster, a building and construction analyst at KBC Peel Hunt, also believes value can be found. He recommends Tolent, a building and civil engineering company that is involved in construction, property development and investment.

"It could be one of the more interesting stocks in the sector to watch over the next 12 months," he says. "It has shown strong growth over the past couple of years and, although this has slowed down in 2005, we still see growth of over 10pc in 2006 and return on capital continuing to exceed 40pc. This makes it a key stock in terms of fundamentals."

Or what about this new contract?:-

Site Address: Britannia Works Beaumont Street, DN21 2ER
Start Date: Oct 3rd, 2005 Contract Period: 18 Months Project Value (Estimated) £21,000,000

CLIENT Prospect Estates Ltd
Prospect Court 2 Courthouse Street, Otley, West Yorkshire, LS21 1AQ

CLIENT Dransfield Properties Ltd
Wentworth House Maple Court, Tankersley, Barnsley, South Yorkshire, S75 3DP

MAIN CONTRACTOR Tolent Construction Ltd
Colton House Temple Point, Bullerthorpe Lane, Carlton, Leeds, West Yorkshire, LS15 9JL

Description:

Scheme comprises redevelopment and partial demolition of former works for mixed development of A1 retail and A3 restaurant use, B1 business use, D1 leisure use, 60 apartments, an English Heritage centre, car parking and associated highway works. In addition, access roads, site services, infrastructure, enabling works and landscaping are included within this development.

Planning Text:

An application (ref: M02/P/1150) for Detailed Planning permission was granted by West Lindsey D.C.

....most other companies would be releasing RNS's....Tolent can't even be bothered to update their website....still the company starting to arouse interest in the City and it's allowed me to get my stake mainly under £1.00

[piedro] 02/1/2006 11:08

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz!

[energyi] 30/12/2005 16:11

Comparing Corporate with T-Bond yields

[jeff h] 09/11/2005 18:57

So Alpesh Patel has joined the fan club:-



"Alpesh Patel – A weekly look at market opportunities and pitfalls

Alpesh B. Patel is one of the UK's best-known traders and financial journalists. He writes a regular column for the Financial Times, has written seven bestselling books on trading, and makes regular television appearances for Bloomberg, Sky Television, Channel 4, The Money Channel, and the BBC.

On my value growth criteria which are based on stocks meeting revenue and profit growth and good value based on criteria such as price earnings growth, the following names come up. Remember they are for a 6 month outlook: Alexandra, AstraZeneca (still), Chloride, Maintel, Rio, Tolent (new), Touchstone (new).

Remember I am targeting about 20-25% with the value growth criteria. Last year it produced 33% return."

....you got anything new to share with us Alpesh??!

[jeff h] 09/11/2005 18:53

Much ado about nothing perhaps Piedro.

A non-exec and a recent appointment and he's gone form Amco plc as well.

Amco Investments Ltd is the controlling shareholder of Tolent so they can
basically appoint the Board, both Execs and Non-Execs.

[piedro] 06/11/2005 23:11

TOLENT PLC
4 November 2005

BOARD CHANGE

The Board of Tolent plc announces that Graham Powell has resigned as a Director
with immediate effect.

...............................................................................

........what is happening ? He was only appointed in June.........

...............................................................................

7 June 2005

Appointment of Director

Further to the announcement made on 2 June 2005 regarding the appointment of
Graham Powell as a Director, the Company is pleased to provide the following
information as required by AIM:

Graham Michael Powell aged 50, has joined the board with effect from 31 May 2005
as a non-executive director. Graham is a fellow of the chartered insurance
institute and a director of Aon Insurance Managers (Guernsey) Limited. Graham is also a director of Amco Investments Limited, a holder of 6,451,318 ordinary
shares in Tolent Plc representing 49.88 per cent of the issued share capital and also a director of Amco Corporation plc, Amco Property Investments plc and Amco Estates Limited.

Graham is a holder of 28,000 ordinary shares in Tolent plc representing 0.22 per cent of the issued share capital.

There are no further disclosures to be made in accordance with the AIM Rules.

[santangello] 17/10/2005 22:39

Will don my Columbo mack and grab my cigar on Friday to investigate when the site is open and active.

At a guess, seeing as TLT do not figure on the main board on the site, I would assume they are doing construction work only.

If I do not get a satisfactory answer, I'll ring the Salford office and find out.

Till then, keep accumulating !

[jeff h] 17/10/2005 19:14

Nice find Santa!...do you know if they have a stake in the ownership
of the site or are they just doing the construction work?

I was reading recently that Phase 2 of Leeds was now complete with over
12,000 sq ft being let to Yorkshire Water.

Also they tendering for a £50m 3 school contract in Scotland

[mkearns] 17/10/2005 09:03

nice chart.

[santangello] 17/10/2005 09:01

Discovery:

Not currently showing on the TLT website is a development in Jackson Street, St. Helens, Merseyside.

The development is titled : Kettler Court

The site has an old board up, advertising the sale of the land, which tells us that the site is 2.54 Acres in size.

The site will house Business units from 2000sq ft to 9000 sq ft.

The development is in partnership with RBOS and English Partnerships.

I can report that certain parts of the site are at an advanced stage, but on the whole completion looks a little way off yet.

I shall keep my on things and report accordingly.

Santangello