Tr Prop.inv.wts Discussion Threads

[ashtongray] 09/5/2002 21:47

re the discount, I believe thats partly due to the belief that Stephen Peak lost his way a bit after the tech bubble peaked, so returning to a price nearer to NAV will depend on proof that he is regaining previous form.

[thegreatgeraldo] 09/5/2002 19:31

Quite agree , looking over its history last night , excellent long term track record , traditionally has traded at around NAV ,so clearly any narrowing of the discount from its' current 17% or so would be most welcome... think 18 months to expiry gives enough time for a little movement... :-))

[ashtongray] 09/5/2002 19:25

geraldo: great minds etc.. have been adding to TRGW holding this week @ 14p. I'd prefer longer life to expiry, but the gearing is looking very tasty, the premium is low, and the trust itself is trading at a whacking discount. Add in the £/euro possibilities, and although this is a risky punt, the potential upside between now & Oct 03 could be huge imo.

[peter shone] 09/5/2002 19:15

There's a bloke called Chris Jones that runs an IT warrants web site, fantastic info.

[thegreatgeraldo] 09/5/2002 19:08

12p.... LOL !!! No I don't have any :-(( , but did buy some TRGW today...

[younasm] 30/10/2001 19:18

Bought some TR Property Warrant at 8.72p. If markets recover next year, we should see these rising to around 12p. The last date for taking up your rights is July 2002.

[thegreatgeraldo] 27/9/2001 00:34

Unless Japan is going bust , check out MCJA , on a long term view , although at the mo I'm not really into taking the long term view.. !!

[ashtongray] 25/9/2001 19:48

younasm:

Its been an interesting time for IT warrants the last 2 weeks. I also have TRGW, which has certainly perked up the last two days! Incidentally if you buy the argument for TRGW, MLEW also worth looking at: longer life, v. low premium, more broadly based portfolio of underlying trust + £/Euro kicker (potentially!)

Also have PCTW as punt on tech rally.

If you think Asia Pacific markets oversold, have a look at EFMA. Japan difficult to call.

All the above IMHO DYOR plus all the caveats applying to warrants.

[younasm] 25/9/2001 19:08

I like the look of most long dated Investment trust warrants - though its worth waiting for the recent rally to fizzle out. I bough TRGW at 26p, then 20p, and then 14p last Friday. I will probably sell half on 26th Sep, hopefully re-purchase around 20p.

I also like the look of PCTW, TRYW and IJDW. I am sure there are others. Check out the expiry/exercise details on

Good hunting and don't spend it all at once - warrants are very volatile, you can lose 50% in a day!!!

Y

[ashtongray] 11/9/2001 20:04

I try to stick to warrants with minimum 2 years to expiry, otherwise its amazing how fast you run out of time. In the money great if you can find them, although that does cut down the potential selection. Its also good if the underlying equity (the IT itself) is at a substantial discount to NAV, as this reduces risk significantly. Today's horrific events need thinkimg about, though.

[nigelsom] 11/9/2001 14:27

Advice I've read was to go for warrants with longer to run than that. I guess that when we finally reach the promised land of the bottom when all losses turn to untold riches and it is safe to venture on to the market again that some tech and small company Inv Tr warrants with long maturity dates will be a bargain.

[younasm] 11/9/2001 14:21

Does anyone have any recommendations for buying Investment trust warrants ?

I have been looking at TR Property, Invesco Japan , PCTW and TRGW. Hoping to buy after sharp sell-offs for either short term trading or more longer term (Japenese/European). I would generally go for in-the-money warrants with at least one year to lapse.

[humdinger] 11/12/2000 13:19

TRYW are still better value on all key items CFP, Premium, gearing though the gap between the 2 is narrowing. Worth keeping an eye on. Assuming nothing special TRYW should go to 17/18p by expiry so worth holding and can always exercise with such a low premium and good discount to NAV.

John B

[the wah] 11/12/2000 09:59

Wigmore Property wts have a crucial 6 months longer to run and are similarly just in the money.

[biffer] 11/12/2000 09:38

This one's made very good gains lately. The underlying share (TRY) has a great chart.

[biffer] 05/6/2000 11:12

The warrants are up 10% today, and virtually all buys in the underlying (TRY).

Bloody hell, I'm actually in the blue on these now.

An interesting one to watch.

Wish I'd chosen this for bullie's bubbly competition.

[upyrgunga] 01/6/2000 11:07

Falling interest rates should help to push property company share prices higher - plus any corporate action as a bonus.

These could move up quite sharply now . . . .

Hopefully ! !

U Y G

[gopher] 01/6/2000 09:57

Also hold the warrants for longer than I care to admit and not too much time value left. Action in the sector today with GE Capital taking over MEPC (GE not the sort to overpay & valuations in the sector solid) may be the start of a little run in the sector. TR Property has a reputation as well managed so it wouldn't be a suprise to see a an 5-10% improvement from 50p on the back of NAV improvement if investors buy to get exposure to the sector.

[biffer] 01/6/2000 09:30

Resurrecting this one - didn't spot it first time round.

They underlying are now trading at 50.5p, giving a nicely geared play on the warrants.

The chart for TRY looks good as well.

I've held the warrants for longer than I care to admit.

[kayak] 19/8/1999 09:09

After a couple of months of consolidation TR Property IT seems to have resumed its upward trend. The ordinary shares are currently priced at 47.75p against the warrant exercise price of 47.5p. Followers of warrants/options will know that some of the best gains are to be had when the warrants/options go from out-of-the-money to in-the-money. The warrants are currently at 8p giving a CFP of 6.2%, which is reasonable. I highlighted these on ESI in March at 6p but you may like to consider them again. That's of course if you believe property stocks will rise in the future. Kayak