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Occupation: Private Investor

Interests: Stocks

About Me:

Private Investor and Commentator. My comments and posts are NOT recommendations or advice, simply personal opinion.

LongValue's Latest Blogs

Regardless of whether you are bullish or bearish about the direction of the world's financial markets, the charts in this article, in my view, are worth very close observation. Essentially, the research by Bank of America Merrill Lynch pointed to interest rates in 2016 being at astronomically low levels. And by astronomically, I mean astronomically low in historical terms. Interest rates today are marginally higher…

Well, it's not your typical mid-cap London listed oil stock. For starters, SOCO International (LON:SIA) actually pays dividends. And when I say pays dividends I mean that from 2006-2017 it distributed some US$476 million to shareholders. It has a policy of distributing excess cash to the owners of the company. It's not simply about drilling more holes in the ground and paying increasing amounts of…

As the markets get increasingly choppy, this short piece posted on Bloomberg in May 2017 may provide some food for thought. Basically, it illustrates the growth of US Index funds. However, the point that I am making is that it's unclear how these funds will react in extremely volatile markets where, at least in the US, there are a small number of very large cap…

Taking a slightly sideways view of Carillion's demise, it may have implications for the bus sector. This is an industry that is largely operated by a handful of dominant players. As of today, The First Group, Go-Ahead and Stagecoach are all heavily indebted and all are being shorted by hedge funds. This leads me on to Rotala (LSE:ROL), a very well established and profitable bus…

It could have been Mark Twain who said something to the effect that history does not repeat but it does rhyme. In my opinion, whoever said it could quite easily have been referring to the financial markets and to the global economy in general. Although technology changes, as do fashions, much remains the same especially in the context of human nature. Looking back at J.K.…

LongValue's Latest Comments

The absurdity of negative interest rates, as well as the economic and political situation, have driven me into Gold more as insurance rather than an investment. It's there should events really go wrong. However, I have opted for a small portfolio of Gold mining stocks. All, bar one, are dividend payers and geographically dispersed. Gold explorers hold no interest for me. It's all about low-cost…

Liquidity is clearly an issue with small-cap stocks but as a shareholder in Sanderson (LON:SND), I was very disappointed with the premium offered. I might go a little further and say that many fund managers are simply not doing their jobs when accepting derisory takeover offers. They seem to relinquish the role of ownership and appear to act as if they have bought a piece…

There you have it, the company has just raised £1.1 million through a placing at 56p per share with the Directors taking up a significant amount. Basically, it's a capital intensive business and requires substantial amounts of investment – that seems a problem for all bus operators. The points you made are very valid so I thought it might be useful to make a comparison…

Considering the company's performance (Its FCF has increased by more than fivefold over five years), this recommended offer could not be described as generous. Even more so given its growth potential in the digital space.

The bid does seem a tad on the low side. And it's not even an all-cash offer. Moreover, it's less than the March 2016 placing price of 25p per share when the company raised US$35 million. When one considers its situation at the time, it appears even less attractive. By most metrics, it's now in a far stronger position. Both its reserves and production levels…

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