You are right, SPK took a whump right at close there as well.
Whats so special about this weekend ??? All Blacks should win,what else is there to worry about ?
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I am sure it was a Welsh fund manager packing his bags and leaving the NZ market..lol.
Its been a shocking reality check, no way to sugar coat this thing. Who would have thought a couple of months ago that post a deal to sell most of VAH the shares would be close to $2.00 ?
If there's anyone left who's interested in what I'm doing with this bird it goes like this. Shares are now basically trading in line with NTA (unlike any of their peers I monitor apart from VAH, which let's be honest is a basket case even post the recapitalisation). I can't see any point selling at these level's (8% of my portfolio value) as I'm holding for long term dividend income but I acknowledge it could go under $2.00.
I think if the stock gets down to a 20-25% discount to NTA $1.50-$1.60 I might take a view that the SP will be supported by a buy-back and take a view that there could be an argument for a higher portfolio allocation but otherwise I will simply hold...i.e. I won't buy more unless there's a really decent sized discount to NTA. I hope / doubt it will go that low but who can say for sure ????
I doubt I will bother with my usual quarterly portfolio revaluation this quarter, can't see much point rubbing salt into the wound like that... Might get some Prozac with my next lot of blood pressure meds next week.
Forget the Prozac Roger, just buy that new boat and enjoy it, besides, 8% is a conservative allocation, so just hold em and collect the divvies, who knows what the price will be in a few months or this time next year.