Tue 28 Nov 2017 - Duvet Day

28th Nov '17 by Paul Scott

69 comments 31677 reads

I'm taking a duvet day today.

Let's recoup later today.

Best wishes, Paul.

Please discuss things amongst yourselves. I shall be mainly sleeping.

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About the Author

Paul Scott

Premium Member

I trained as an accountant with a Top 5 firm, but that was so boring that I spent too much time in the 1990s being a disco bunny, and busting moves on the dancefloor, and chilling out with mates back at either my house or theirs, and having a lot of fun!Then spent 8 years as FD for a ladieswear retail chain called "Pilot", leaving on great terms in 2002 - having been a key player in growing the business 10 fold. If the truth be told, I partied pretty hard at the weekends too, so bank reconciliations on Monday mornings were more luck than judgement!! But they were always correct.I got bored with that and decided to become a professional small caps investor in 2002. I made millions, but got too cocky, and lost the lot in 2008, due to excessive gearing. A miserable, wilderness period occurred from 2008-2012.Since then, the sun has begun to shine again! I am now utterly briliant again, and immerse myself in small caps, and am a walking encyclopedia on the subject. I love writing a daily report for Stockopedia.com on most weekday mornings, constantly researching daily results & trading updates for small caps. Cheese! more »

69 comments

herbie47

28th Nov '17

You could be right about IG Design (LON:IGR), I was looking at the EPS % growth, which is 14%, on Stockopedia it's 28% so I was expecting more than 14%. Last year EPS was 15.5 "Underlying Earnings Per Share up 14% to 10.9p from 9.6p" so not sure we are comparing like for like EPS figures. If first half goes up 14% and second half 14% then that is 14% FY.

This is a bit off putting for me: "exceptional items and LTIP charges was up 27% to 10.5 million from 8.2 million"

daveinthelakes

28th Nov '17

Impax Asset Management (LON:IPX) , 1-23 Nov 142.5-150p up 7.5p. Last 3 trading days 150-171p, + 21p inc 14p today.

Results out tomorrow- there are so many leaks they should move the LSE to Wales!

grb

28th Nov '17

Image Scan Holdings (LON:IGE) currently down 17% after a mid-day holdings RNS. It seems like some people believe this is an undercover inside sale. Results to be announced in "early December". Luckily I only hold a few!

simoan

28th Nov '17

Impax Asset Management (LON:IPX) , 1-23 Nov 142.5-150p up 7.5p. Last 3 trading days 150-171p, + 21p inc 14p today.

Results out tomorrow- there are so many leaks they should move the LSE to Wales!

Yep! I dithered over the sell button half an hour ago. Great little growth company but a current year PER of 30 is a bit rich for my tastes. Anyway, I didn't take the money off the table - some days you just gotta role them dice... Let's see what tomorrow morning brings and whether someone is "in the know".

All the best, Si

fwyburd

28th Nov '17

RE Image Scan Holdings (LON:IGE)
Grb, I thought directors had to declare their share sales so it would be great to know the source of the "undercover inside sale" you mention. Can you share it?

andrea34l

28th Nov '17

There is an RNS for IGE indicating that "Boundary Capital Partners LLP" (whoever they are) have reduced their holding from 7.56% to 3.9%

StandardModel

28th Nov '17

Hi Is2g08, a trading service I'm involved with (can't share name here as that would probably break a rule or two) reckons that 10,000 will see some pull back - opinion is not necessarily to sell out but to be very very careful as there have been big pull backs at similar numbers.
Furthermore the CME decision on whether to list BTC instruments will have a huge effect. If they refuse then one would think that is bad for the BTC price. If they list it may be short term good but then the whole market would be subject to influence from very big money flows which may favour the short side.
All the above is opinion (and not even mine!) not advice.
Personally, I'd stay in - it's 500 quid at risk with some potential massive upside. Alternatively sell £500 worth and stay in with the money you've gained since august.

This is all very much like the dot.com boom. Money will be made but not at this stage - too late to be early money and too early to see who the winners will be.

Good luck

grb

28th Nov '17

Re Image Scan Holdings (LON:IGE)
I picked this up from comments on a***n.
http://www.3dx-ray.com/investor-relations/key-shareholders/ lists director William Mawer as having benefit of 5,204,682 shares held by Reyker Nominees Ltd. in Boundary Capital Partners’ Home Run funds. This is the same holder (Reyker Nominees Ltd.) as listed on the RNS. It would seem that 3.66% of the total shares (which is a bit under 5,000,000) have been sold, leaving 3.9% (5,308,973 shares) held, and netting somewhere just over half a million quid. So by that maths the shares in which William Mawer have a benefit may be nearly all of the ones left, or they might have all been sold, or anywhere in between. Either way, it doesn't read well. Is anyone in a position to do more digging?

fwyburd

28th Nov '17

Thanks Grb, sometimes the lunatic fringe can be useful.

I would expect Mr Mawer, or whoever was the beneficial owner, to explain what's going on.

(I'm long)

dscollard

28th Nov '17

agreed, I remember the shift over from "first-mover advantage" to "better to be a smart-follower than a dumb first-mover". What is gripping is watching FOMO and yeah, that can run for a long while

dscollard

28th Nov '17

the non-exec chairman stuck £68K of £D4t4 solutions in his SIPP today too. Given it was down almost 40% at its nadir today, a close down 20% is relatively less pole-axing. Got to love the vagaries of small caps.

herbie47

28th Nov '17

Yes Ghosttery seems to work very well. The reason your green communication button is not showing is probably you have intercom tracker blocked?

AnonymousUser252054

28th Nov '17

For those who missed it, Paul was getting red down vote thumbs for posting he wanted a time out today and wrote, 'give me a break, guys', in response. Or words to that affect.

OsullivanB

28th Nov '17

Don't worry about a song for Duvet. It' just a cover anyway.

Julianh

28th Nov '17

Re: Image Scan Holdings (LON:IGE) - The holdings RNS reported quite a significant share sale, almost 4% of the issued share capital (if my memory is still functioning). On such a small cap company (market cap circa £16m after today's 21.5% fall there is probably not enough liquidity to soak up so many shares dumped onto the market all in one go. Which leaves me wondering why the sellers (Boundary Capital Partners LLP / Reyker Nominees Limited) have sold such a big chunk all in one go. And the reason may have nothing to do with IGE. The sellers seem to have sold circa 50% of their holding, still keeping 3.9% of the company. So not a "get out at all costs" action.
I am long IGE (a small holding) still assessing whether / when to top up.

runthejoules

28th Nov '17

Jokes apart, hope Paul is okay and feels better soon

fifthcolumn

28th Nov '17

I bought in over 18 months ago and still think they are an excellent company with possibly further to go. The kind of company Buffet might have been interested in. Don't understand why they have lost a bit of ground recently apart from general investor fear. I am holding for the long term.

purpleski

29th Nov '17

Hi Si

I am not 100% certain but I think that Ed has addressed this somewhere and that is simply to do with their database providers such Thompson Reuters.

I dont think that there is much that they can do about it.

I think it is a shame that companies are not obliged by whichever exchange on which they are listed to provide data in a standard (XML?) format that could be automatically added to databases at the time results were published, thereby meaning data was always uptodate or at most a few hours out of date.

It doesn’t sound like a huge task!

KR
Michael

purpleski

29th Nov '17

Treatt (LON:TET). I have held for just over three years now and have bought 8 times on the way up. It is now my joint equal 2nd largest holding with Bioventix (LON:BVXP).

What I know about the company encourages me to continue to hold and I see it as a long term position, with a niche product, a great (overused word) moat and a good growth strategy and it pays a divi.

cig

29th Nov '17

My bet is that the bubble imploding will make it go up, at least in the first stage.

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Tue 28 Nov 2017 - duvet day

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Paul Scott

69 comments

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