Theres been a few big dumps of SUM as well. Someone rebalancing? (or shuffling the deckchairs)
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Very strong day on the market today, my entire NZ portfolio is green! No, wait, there's OCA, down a cent. :ohmy:
But not to worry, it's a long term hold.
:)
Yeah, but it has done well in the past and will continue to do well in the future, it has fundamental drivers that few if any other sectors have. It’s times like this that value investors quiet accumulation happens in preparation for the inevitable future appreciation and sustained earnings. I love these lulls in the market for my long hold portfolio, instead of lamenting a short term sentiment it’s the time to build a long term future.
OCA acends to $1.03 (but later retreats).........." this shall be a day long remembered" - Darth V
It looks like the overhang is done...now the tide is slowly turning around....
I don't think there is any evidence or indication that MacQuarie is selling their shares into a weak market ... If they would, they would need to issue SSH notices for every 1% they sell.
If (and I think this is a big IF) anybody is playing games, than it is more likely big institutions who want to keep the price for the next placement low.
But than - why don't we just accept the price as it is? Markets are filled with thousands and thousands of irrational beings called humans. Why would we than expect the market as a whole to be rational? As well - why would we want them to be rational? If they would than there hardly would be any opportunity to drive a bargain on the share market - wouldn't it?
A successful investor would recognise and exploit such opportunities offered by an irrational market and have afterwards the patience to wait until the market realises its folly ;);
Obviously - the markets might as well be right - in this case OCA shareholders would sit on a (roughly) $1 share producing a nearly 5% dividend. Now - how terrible would that be? :);
Discl: holding a large parcel ... and in the black :sleep:;