Venture Life Share Discussion Threads

[hydrus] 18/12/2017 16:59

Santa rally going well portfolio at ATH now. ZOO has a good few days so may pullback I guess at some point before Jan update which I anticipate to bring a catalyst for further gains.

[redartbmud] 18/12/2017 16:42

Igg.

The Regulator has planted his size 9 boots all over them -9% Oops.

Amongst the Christmas cards, I have had the good fortune to receive a communication from HMRC - a reminder for a tax payment due on 31 January 2018. How kind.

red

[thelongandtheshortandthetall] 18/12/2017 16:20

The next purchase of berkshire hsthaway class A share will push each one to $300,000.

I bet those early investors cannot believe it.

[apad] 18/12/2017 12:49

Increased FARN out of income at less than the last placing price.
Seemed a no-brainer.

apad

[petersinthemarket] 18/12/2017 11:59

Mrs P says to tell A that JIM is wonderful! Mrs P is of course principally a divi chaser. In fairness, I think I should add a few extra stats to her comment. She bt 300sh for £1007 inc chgs in Dec2016. Total return up to today £503. Todays bid/offer 480/490p is quite a fall back from it's pk at just over 600p. Will it get back up there? I think so. Just look at that lumpy chart (technical expression). This sh is news driven. Anyway Mrs P warns me ''sell my JIM at your peril''. As a chart watcher, I would have sold ages back of course and perhaps considered buying back again some time, like about now for instance. But then, WTFDIK. pete

[attrader] 18/12/2017 09:44

Excellent gsb

[gsbmba99] 18/12/2017 09:07

To underscore dual nature of JIM business: EBIT margin of brokerage business (EBIT-interest earned / revenue from fees & commissions) was 6.3% (FY09), 0.1% (FY10), -2.2% (FY11), -13.2% (FY12), -1.6% (FY13), 3.1% (FY14), 0.1% (FY15), 3.7% (FY16). Actual EBIT margin was 36.4% (FY09), 29.8% (FY10), 34.1% (FY11), 38.5% (FY12), 42.9% (FY13), 43.6% (FY14), 44.6% (FY15) and 43.7% (FY16). 8 year CAGRs (to Dec 16): Revenue (6.9%), interest earned (6.5%), fees and commissions (7.2%), EPS (11.1%), dividend (12.1%).

[apad] 18/12/2017 08:45

Pitch perfect, gsb...
I had some understanding of the dual nature, but nothing as thorough as your post.
Thank you,
apad

[gsbmba99] 18/12/2017 08:37

Apad - you asked about JIM. I think of it as two businesses stapled together - a brokerage business and the interest income stream. The brokerage business is profitable in very good years, break even in reasonable years and otherwise loss making. The interest income stream is like a royalty stream. 5 year CAGR (to 30 Jun 17) cash under administration is 24%. 5 year CAGR (to 31 Dec 16) of interest earned is 11.4%. Net interest margin has been squeezed for several years which means that growth in interest earned significantly less than growth in cash under admin. My estimate of net interest margin (full year interest earned / 30 Jun cash balance) is 2.12% for 2014, 2.06% for 2015 and 1.9% for 2016. While interest rate rises are obviously positive, just as positive is no further compression in net interest margin. In the absence of declines in net interest margin, interest earned should grow at rate of growth in cash under admin and even faster with interest rate increases. Historically, cash under admin has grown at very attractive double digit rates. I think it can deliver attractive EPS growth even if brokerage business recedes from current high level. Potential for very attractive EPS growth if we get 1 interest rate increase per year. One potential issue is they already earn way above bank base rate and others (SHRE) have suggested they are depositing with risky banks. However, people with last name of Grant own a very large proportion of JIM so they are risking their own money.

[redartbmud] 18/12/2017 08:34

Vestas shares rise on preservation of subsidies.

I will use the swearword "LTIP".

How to create a 'free market'.
No subsidies, no business. (Bob Marley could have sung it.)

Grumpy from Grimsby.

red

[redartbmud] 18/12/2017 08:30

"Chet" the Christmas Carol Parrot

One Christmas Eve, a frenzied young man ran into a pet shop looking for an unusual Christmas gift for his wife. The shop owner suggested a parrot, named Chet, which could sing famous Christmas carols. This seemed like the perfect gift. "How do I get him to sing?" The young man asked, excitedly. "Simply hold a lighted match directly under his
feet." was the shop owner's reply.

The shop owner held a lighted match under the parrot's left foot. Chet began to sing: "Jingle Bells! Jingle Bells! ..." The shop owner then held another match under the parrot's right foot. Then Chet's tune changed, and the air was filled with: " Silent Night, Holy Night..."

The young man was so impressed that he paid the shop-keeper and ran home as quickly as he could with Chet under his arm. When the wife saw
her gift she was overwhelmed.

"How beautiful!" She exclaimed, "Can he talk?" "No," the young man replied, "But he can sing. Let me show you." So the young man whipped out his lighter and placed it under Chet's left foot, as the shop-keeper had shown him, and Chet crooned: "Jingle Bells! Jingle bells!..." The man then moved the lighter to Chet's right foot, and out
came: "Silent Night, Holy night..."

The wife, her face filled with curiosity, then asked, "What if we hold the lighter between his legs?" The man did not know. "Let's try it," he answered, eager to please his wife. So they held the lighter between Chet's legs. Chet twisted his face, cleared his throat, and the little parrot sang out loudly like it was the performance of his life:

"Chet's nuts roasting on an open fire...."

red

[apad] 18/12/2017 08:27

Impressive, garbut.
"This contract award is extremely significant and is the largest that the Group has won to date. It is a testament to the unique offering that Croma Vigilant brings to the market.
The ex-military ethos of the business is resonating strongly with both our clients and our staff; majoring on discipline, operational excellence and continuity."


Puppies doing well. IDEA up 5%, ZOO up 13% (but there might be an artificial IC effect).

I still don't understand Renishaw's strength, red. Any ideas?

Down 7.6% in my swap of SDX for BOO.

apad

[garbut] 18/12/2017 08:18

CSSG
Just won 27M contract.
Mkt Cap 18M.
Already up 69%.

[apad] 18/12/2017 08:17

08:11:49 176.0000 595 AT 175.2500 176.0000 Buy 2,421,627 69,844
Then BOO drops again. So, I now know I don't understand :-)

LTIP can be the new Board swear word, red :-)

apad

[apad] 18/12/2017 08:08

BOO did pop up on open. So, yes, look at the after-hours trades. Ta.

FTC I sold, in the Rhodes days, at the peak because I needed the money to buy a house. It was riding the wave of mobile base-station roll out.
Now it is a minnow trying to survive (rns today).
Memo to self - never take the market context for granted - so bloody easy to do when presented with a glistering performance.

apad

[apad] 18/12/2017 06:47

Asia being towed by the US but our elastic still being stretched. A some point macro watchers will decide that the UK offers 'value' and it will go poingg.

The Shaun Richards interview 15551 seems to support my view that bonds will stay at low interest rates and that .gov is stuck. I deduce from this that equity assets will not only continue to look good value but conventional sentiment that government debts are safe and equities are risky may change. Which would you rather have UK bonds in sterling or Amazon shares in dollars? Would you like your pension to be supported by international industries or .gov promissory notes? There's a regulatory environment to consider in this picture of course.
Based on this argument I have no cash in Stairway.
Health Warning. I have no background in this area. I am trying to deduce from basics.
apad

[thelongandtheshortandthetall] 17/12/2017 19:19

But then of course he will be blamed for losing everyones money. Lol.

[thelongandtheshortandthetall] 17/12/2017 19:15

Well ive had a brief look at what bitcoin is and i cannot for life on me work out what it really is or why carries any value at all.

Gold.. ok.. there is a limited amount and getting more is very costly and expensive.
I get it.
Land. Cant make anymore.. sure thing.
Housing... so long as we are prepared to continue to squash ourselves into ever decreasing spaces. (Whilst being surronuded by mile upon mile of underutilised farm land). Coupled with our general willingness to borrow insane amounts of money. Then prices should be ok.
But bitcoin.. ?
Surely it'll be part of a degree one day. Economics, sociolgy, business, psychology etc.

Who will burst the bubble. Maybe Trump will be the one to bring sence to the masses.

[modform] 17/12/2017 18:19

Spooky,Some of us are fortunately a bit more knowledgeable not to pick stocks like lottery, but if that's your strategy, I wish you all the best. To think that big corporations don't do forecast for market turn to help them decide the level of investment and capital expenditure and payback term shows your lack of understanding of how decisions within organisation on capital spends are made.Cristal which is a part of sabic made a decision 15 years ago to build a slag smelting factory, against the recommendations from the experts that the price forecast for slag would fall, and after spending billions of dollars on building the plant, the plant is running at 20% utilisation, because it's cheaper to buy slag than to smelt it from ilmenite. Sulfur manufacturers made a decision many years ago, because the price of sulfur was rising to invest in expanding manufacturing plants, and again ignored the experts view that the price rise was due to the use of H2SO4 in fertilisers and it was driven by subsidy given by president Bush administrator, and 20 years later, there's still overcapacity.Corporations have learned to listen to forecasts and to invest sensibly, since those wrong decisions resulted in some much oversupply which almost destroyed some big miners.But as usual spooky, very knowledgeable and reviting post

[modform] 17/12/2017 17:44

Jane, the prediction is from the so called experts who do price forecasts for miners and consumer good manufacturers, they were predicting the end of 2018 as the time for market turn but that was done before the tax cut in the USA, which may push the turn into 2019. We as pi are at a much better position due to position size, so we can watch the moving averages which should start falling over, but remember they are predictions only.

[redartbmud] 17/12/2017 15:49

APAD

My pleasure, they are both well written and I have no doubt as to the accuracy of the content.

red

[apad] 17/12/2017 14:41

Enjoying Flash Boys too, red.
Ta Muchly.
apad