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Introducing the LemonFools Personal Finance Calculators

THE BORING INVESTMENT GREEN ROOM

Any other investment discussions eg. peer to peer lending
BobGe
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Re: Tyman (TYMN)

#42818

Postby BobGe » April 1st, 2017, 4:00 am

End of quarter update:
Broker reports suggesting up to 365p - previous high circa 340. Presently circa 320p.
Ex-div. 20th April, 7.5p
Forward yield 3.6% (as per D.L.)

BobGe
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Sirius Real Estate (SRE)

#42824

Postby BobGe » April 1st, 2017, 5:32 am

Sirius Real Estate, a leading operator of branded business parks providing conventional space and flexible workspace in Germany.
http://www.sirius-real-estate.com/home/
Resuscitated out of the ashes of Dorney Day and the GFC, Sirius responded to cardiac massage. Others didn't!
http://www.investegate.co.uk/Index.aspx ... &words=sre
Recently admitted to the 'premium segment of the Official List' on the LSE and to the Main Board of the Johannesburg Stock Exchange ("JSE").
Has a habit of private placings :-( but gets on with aquisitions as a result :-)
Sirius has been quite progressive under the leadership of the pleasantly plump 'Geschäftsführer' Andrew Coombs and I think will continue to be.
Recent webcast(s) on the Sirius website.
Ticket valid until next recession. ;-) DYOR, of course.

TheCornishman
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Re: THE BORING INVESTMENT GREEN ROOM

#44144

Postby TheCornishman » April 6th, 2017, 4:57 pm

Hope everyone is enjoying the early days of spring...

Just a ramble from me. Not seeing much in the way of new, boring, opportunities around at the moment.

XPP was one that caught my eye recently, but it wasn't quite cheap enough to make me want to post about it here.

AG Barr was another. XPP I was lucky enough to catch before it moved higher, but with AG Barr I dawdled too long.

Good to see Nichols and Tyman moving ahead.

My two candidates thus far have proved to be a mixed bag. IG Design provided the market with a positive trading statement, which proved to be enough to hoick (technical term there!) them out of a what seems to have been a consolidation phase. This is a recovery stock that seems to have recovered quite nicely. Not sure what their merits will be once they get fairly rated again but they are much closer to that point now than they were.

Murgitroyd, oh heavens to Murgitroyd, have fared less well but a trading statement this morning has reassuring me that the loss doesn't need to be taken just yet. One hopes that the relatively strong US economy and the strengthening European one might start to feed into their results at some point. Of course there is now the issue of Scottish independence to consider (again).

Michelmersh Brick looked cheap to me recently, but likely to prove too cyclical to propose it as a 'Boring' candidate...Likewise Telford Homes. And Cambria Autos trundles along unloved, as do many of the other car retailers.

Suspect we will need to see a reasonable market pull-back before any really Boring candidates crop up. Unless any of you are spotting things I am missing, which is eminently likely. For now I am tending to put my efforts into not chasing the market and only pulling the trigger when value is compelling.

Until there is more to say then, I hope the markets are treating you all well.

BobGe
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Re: THE BORING INVESTMENT GREEN ROOM

#62411

Postby BobGe » June 24th, 2017, 6:25 am

Oxford Biomedica (OXB)
I started a thread over on share ideas board viewtopic.php?f=33&t=4276&p=47131#p47131 a few months back but it didn't get any comment, perhaps because it was posted on April Fools Day! So I thought I'd pop something here. I think it may qualify as boring as some have been waiting 15 years for something to happen!! :lol:
https://www.ft.com/content/da8b7f64-56a ... 2?mhq5j=e3
DYOR!

deucetoace
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Re: THE BORING INVESTMENT GREEN ROOM

#63400

Postby deucetoace » June 28th, 2017, 11:59 am

Triad plc

Price 67.25p
Mkt Cap £10.4m
Historic PE 7.3
Dividend 0.7%

EPS last 4 years

Year 2014 2015 2016 2017
EPS(p) 0.07 2.3 8.2 9.6

This company is engaged in the provision of IT resourcing, consultancy and solutions services.

The dividend is the first one paid for many years (perhaps at all?). I can see nothing paid from 2005 onwards until this year. Payment seems quite low at present given the earnings but as this is the first one I take it as an expression of confidence in the future and expect it to be increased.

It has net cash of approx £2.25m. Gross margins have increased this year to 16.2% from 15% last year.

Arden Partners have recently been appointed as brokers.

It should be noted that there is a stock overhang of 17.4% of the company from a major shareholder whose stock is now held by an administrator presumably to be sold.

The Chairman holds just under 30% of the shares. This would suggest no share buybacks and as there is little need for capital, dividend growth would appear to be the only use for the funds being generated.

I hold and am bemused by the current price. Please tell me what I am missing.

Deucetoace

doug2500
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Re: THE BORING INVESTMENT GREEN ROOM

#63508

Postby doug2500 » June 28th, 2017, 6:34 pm

Polypipe PLP

Hi Guys,

This company was mentioned on stockopedia and I found it quite interesting, and not overly expensive. I'm doing more research.
I felt it was a good fit for this board, probably a bit boring!

I'll type some more up if I find the time.

Doug

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Re: THE BORING INVESTMENT GREEN ROOM

#64719

Postby TheCornishman » July 4th, 2017, 2:23 pm

Greetings all.

Doug: On an initial scan I would say that I think Polypipe does indeed look interestingly boring and not obviously over-priced. Worthy of more research for me, so thank you for flagging it up.

Deucetoace: Triad looks quantitatively cheap to me. Not a company I know anything about I'm afraid. I seem to recall it has been flagged up by some of my filters in the past, but I tend to skip past software companies as this is an area where I have been burned previously. Certainly looks worthy of being added to my watchlist whilst I figure out whether I need to become less bigoted. The long-term chart would appear to suggest a story of a company that has struggled to turn itself around for most of the 2000's but which might finally be getting it's act together now. I can be tempted by those kind of stories sometimes as it suggests there might be a large pool of potential buyers to be converted to the cause. To be truly boring I would prefer to see a healthier long-term chart than the one Triad provides, but as a potential turn-around situation maybe this could be interesting. I would need to know more about the actual narrative rather than drawing inferences from the chart to be sure.

As for my own two selections so far, IG Design reported healthy figures recently and the shares have continued their progress northward. I remain happy to hold.

And now even Murgitroyd appears to have regained some of it's mojo. After languishing following it's disappointing interim results In January, a reassuring trading statement in April, a Questor tip in The Telegraph last week and another acceptable trading statement this week make me much happier to continue holding than I was. The circa 20% gain on the Questor tip demonstrated how tight liquidity is here though, so that's worth keeping in mind.

Bob's OXB fails too many quant. tests to quality as my kind of boring, but there might be an interesting story behind it. I really don't know, but looking at the thread on the Share Ideas board I think I would tend to classify this as more speculative than boring. I've been known to take the odd speculative position myself, but on the whole I am more comfortable sticking with more boring propositions these days. I blame my age!

Off to take a closer look at Polypipe.

Hope the markets are treating you all well.

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Re: THE BORING INVESTMENT GREEN ROOM

#64755

Postby LongbeardRanger » July 4th, 2017, 5:30 pm

Hi Cornishman,

I have been meaning to post in this thread for a while! Some of my "boring" candidates are rather racily priced at the minute, such as XP Power and RWS, but Young's Brewery and Mountview may merit a look. I must do a write up of them.

What is the view on foreign stocks' candidacy for boring status? I can think of a few North American companies that would qualify and may be of interest.

TheCornishman
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Re: THE BORING INVESTMENT GREEN ROOM

#64876

Postby TheCornishman » July 5th, 2017, 10:47 am

LongbeardRanger wrote:Hi Cornishman,

What is the view on foreign stocks' candidacy for boring status? I can think of a few North American companies that would qualify and may be of interest.


No objection so far as I am concerned. Not much I can bring to that party as I do not have access to foreign-market data, but I am sure that some here would find North American Boring to be of interest.

G37y
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Re: THE BORING INVESTMENT GREEN ROOM

#65907

Postby G37y » July 9th, 2017, 9:38 pm

Hi all, I don’t see much value available in the market right now, however recruiters look reasonable, my favourite is RTC group an absolute tiddler with a small free float so it is quite volatile with a wide spread. It does have a P/E ratio of less than 10 and a yield over 5% though which are my favourite buying numbers. On the down side there isn’t much in the way of assets, the directors nil price options are an absolute disgrace and there seems to be a great reliance on a couple of large customers. What really sparked my interest though was this share purchase https://www.investegate.co.uk/rtc-group ... 24323055V/ in January of 8% of the company shares by Gerard Anthony Mason who is the CEO of the Morson group which is in a similar line of business. I’m not suggesting this an immediate takeover target but if trading keeps chugging along for the next decade or so, providing the dividends keep arriving (they did get suspended for 5 years following the financial crash) it could be boring enough to be of consideration. (If anyone could actually fill me in on the asset value of the company I would be very grateful as I have struggled abit over that)

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Stockopedia

#98485

Postby TheCornishman » November 24th, 2017, 12:50 pm

Just a quick heads-up to anyone who might be interested.

I've used the free trials on Stockopedia when they have been made available to me in the past and always found it to be a very interesting site.

Paul Scott's lunchtime article is also a staple read.

Never been convinced quite enough though to take out a subscription when I already have one to Sharelockholmes, which I continue to rate very highly.

That said, today Stockopedia are offering a 50% discount. They e-mailed me about it this morning, so I assume it is open to all today.

For the equivalent of approx £2 per week, this seems like a very good value proposition to me, so I have taken advantage.

Thought some here might also be interested. Only available to midnight today (Nov 24) so far as I am aware.

PeterBill
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Re: THE BORING INVESTMENT GREEN ROOM

#98737

Postby PeterBill » November 25th, 2017, 11:46 am

I too, took advanvantage of the 50% off “Black Friday” deal on Stockopedia subscription ... probably find out that I have all the wrong stocks in my hyp’ish portfolio ;-)

LongbeardRanger
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Re: THE BORING INVESTMENT GREEN ROOM

#100373

Postby LongbeardRanger » December 1st, 2017, 7:57 am

Morning all,

Just a note to say that James Latham released their interims yesterday, and margin pressures triggered a 6% drop. So, not a hugely dramatic reaction, but if there is further weakness I reckon it will start to look interesting.

https://www.investegate.co.uk/latham-ja ... 00059170X/

Nichols has also been weak lately, on no particular news. It's still quite expensive so probably just profit taking / valuation concerns.

I'm not finding much reasonably-priced boring, but Young's Brewery (non voting) look ok, and Daejan and Mountview also look worthy of research at the moment.

Rgds
Phil

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Re: THE BORING INVESTMENT GREEN ROOM

#104138

Postby TheCornishman » December 14th, 2017, 2:16 pm

Hi Phil,

I reduced after the Latham results. No huge problem with the company, but more as a consequence of my opinion of the current valuation/outlook balance. I wanted to raise cash holdings a little and Latham was the stock I was feeling least positive about at it's recent valuation metrics. I felt I had paid a full price for them when I topped up around the start of the year, but there were few signs then of any Brexit/FX related issues. Given that it seems it just took a while for those to raise their head, reverting back to a more cautious stance seemed a reasonable precaution to me.

Some of those funds also got rotated into Mountview Estates. The business model there appeals to me and I had been watching them for a while. I'm not expecting a rapid appreciation, but it does strike me as a suitably Boring candidate for long-term income generation & capital appreciation. Glad to see they have caught your attention too. Young's are similarly on my watchlist as are Severfield, Headlam & Morgan Sindall, but I still see no immediate need to rush into mainly domestic value candidates. Obviously one could add nearly all of the car retailers to the 'cheap UK' stocks list too.

Speaking of cars, Inchcape look interesting and have the added benefit of international exposure. I need to do more research on that one. My gut feeling is that it's probably too cyclical to be considered truly 'Boring.' Fidessa and Bloomsbury might be better options, but they both need more research too. Bloomsbury has been looking cheap for ages, but I notice a touch of momentum appears to have developed recently after some good results, so I am keeping a very close eye on that one right now.

That'll have to do for now. One new year's resolution needs to be that I post here a little more, so let's see how I do with that...

Regards to all.

BobGe
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Re: Sirius Real Estate (SRE)

#115316

Postby BobGe » February 2nd, 2018, 8:20 pm

A brief follow-up to my post of 1st April 2017 in this thread. viewtopic.php?f=78&t=627&start=40#p42824
The price ran up from around 56p/sh to 66p/sh during 2017 (at a premium to NAV) and has fallen lately, I assume on profit taking (and going ex-div). The s/p was down significantly on the JSE today, reflected on the LSE, and at a little under 55p near the close now trades around the Sept. 31st reported NAV. Why the dip today, I don't know. Depending on one's view this may be a reasonable entry point (DYOR), or a situation to watch for anyone already holding.

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Re: Sirius Real Estate (SRE)

#119306

Postby TheCornishman » February 20th, 2018, 2:36 pm

Hi Bob,

I've no problem with SRE specifically, excepting the inherent cyclicality of real estate. It doesn't look outrageously valued to me, but nor does it look desperately cheap, but it's quite possible that I am simply missing something.

Of my own recently mentioned shares, I see Fidessa has announced a possible approach today. This is frustrating. I had held a small quantity of Fidessa for two years as a low-conviction hold, but had since imposed a moratorium on software companies. Existing holdings had been allowed to remain until the recent market pullback, when I decided to raise some funds in case more attractive bargains presented themselves and leading to both Fidessa and Craneware being disposed of.

Fidessa had looked cheap to me for most of the past two years, but showed no signs of doing much about that, so they went at £22.45 for a small net gain. Two weeks later and now they are at £35.00.

Frustrating, as I say, but one of those things and just goes to show that sometimes one needs to be very patient for value to be realised.

Oh well, one lives and learns. At least Murgitroyd are now back in the black. Just.

BobGe
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Re: Sirius Real Estate (SRE)

#123871

Postby BobGe » March 11th, 2018, 3:46 am

Inclusion in FTSE EPRA/NAREIT Index effective as of Monday, 19 March 2018
https://www.investegate.co.uk/sirius-re ... 00038970G/

There's some selling been going on a while now, but there appeared to be some buying following this announcement which caused a lift, suggesting a possible bounce in the s/p once the seller(s) are cleared. I'm just rather suprised that there don't seem to have been any declarations yet.

BobGe
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Re: THE BORING INVESTMENT GREEN ROOM

#144168

Postby BobGe » June 6th, 2018, 4:05 pm

TheCornishman wrote:Bob's OXB fails too many quant. tests to quality as my kind of boring, but there might be an interesting story behind it. I really don't know, but looking at the thread on the Share Ideas board I think I would tend to classify this as more speculative than boring. I've been known to take the odd speculative position myself, but on the whole I am more comfortable sticking with more boring propositions these days. I blame my age!


Just to mention I've updated the thread here:
viewtopic.php?f=33&t=4276&p=144164#p144164

I first mentioned it here in the 'boring' thread as I felt it had moved on a bit from it's speculative phase to one of growth. As with anything there's still a risk though. But in times when a FTSE350 stock can take a 20% pasting in a day...


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