Mon 9:16pm


Real Name: Nigel

Occupation: Other

Interests: Economics, Oil, Property, Stocks

Location: SW, UK

Fantasy Fund: nigelpm's Fund

About Me:

Investor/speculator mainly in UK equities

Investment Strategy
I trade... weekly
I tend to buy... after much research
I hold for... a few months
Diversification is ... important, but not beyond 10 positions

Always looking for a bargain!

Basically :

  • Where NTAV exceeds market cap
  • Large solid companies have been hit temporarily
  • Low Price to Earnings/Cashflow
  • Good businesses temporarily cheap

Nigelpm's Latest Blogs

What do they do: Through a comprehensive suite of accounting and consultancy services, we offer intelligent solutions to a national client base that ranges from individuals and entrepreneurially-led owner managed businesses, to large corporations and public sector organisations. With leadership in the provision of business advisory, risk management, tax, recovery and financial management services, we are the UK’s 7th largest accounting firm with a…

I don't really follow currencies closely but this one has peaked my interest. It's now at its lowest level (in terms of dollar value) since WWII (78.2 and moving all over the place having been as low as 76.4 as stops no doubt got hit) as I type. The considered view is that the BoJ are likely to start buying around 80 USD/YEN to protect…

Barratt Developments (LON:BDEV) looks to be another good asset play. The current market seems to be throwing lots of them up.Recent Half yearly report available here: · Revenues for the half year were in line with the prior year equivalent period at £877.6m (2009: £872.4m) · Completions for the period were 4,832 (2009: 5,053), including 36 (2009: 25) joint venture completions · Average selling price…

Basically a REIT with a big bank loan and property investments in Europe. Total liabilities = £243m. Total Assets = £346m Latest half yearly report here : i.e. Equity at £103m Market cap currently around £30m. Unless property in Europe continues to dive (which isn't impossible) should be a good if not great investment.

This looks to be a good asset play. Final results out. All looks ok. Huge jump in NAV as expected Shares in issue - 81.85m Thus at £3 market cap is : c. £245.6m Per consolidated Balance Sheet Shareholders' Equity is £423.2m Thus NAV per share = £5.17. Also, dividend is up 15% and business is doing quite nicely.

Nigelpm's Latest Comments

No idea why anyone would be top slicing here to be quite frank. This management team have been excellent and the best is yet to come. The acquisition hasn't even completed yet!

Absolutely right Peter. This is one very clear example of how the market can be rigged against the smaller private investor.

Just to clear up some confusion here around Auditors and their remit. GT will have audited**(see below) the cash balance as at 30 September 2017 - the last time they were involved (as far as I can see) in auditing CAKE's accounts. They are not able to check CAKE's cash balance on a day/day or month/month basis!! A lot can happen in over a year!…

Excellent post and summary. I concur with all of that. I'd add that upside could be had from exploration on the Egyptian deal, a positive outcome from talks with PV and more potential acquisitions on the way. In summary lots to like and a decent level of downside protection should nothing go to plan.

Agree with all of that Peter and Gromley's point on the Pension - however there is some potential hidden value here in the longer term that isn't currently accounted for on the balance sheet - that's the point I was trying to make.  Yes, it's not available now but it's absolutely not correct to say it hasn't got value. Certainly not convinced enough to buy…

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