Read my book yet?
That quote is often attributed to Buffet but he probably borrowed it from somebody else
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No, I just read his weekly broadsheet.
He deserves a box around the ears though for not clarifying that cash is an option to buy something cheaper in the future, if it's in a confirmed uptrend, otherwise he's just buying a set of steak knives isn't he?
It can also be used to buy something dearer in the future too, (see rider above re trend).
You can quote me on that in your next weekly
Oh it's Synlait thread
Pleased to see G Milne is dropping Genesis board seat to put more time into this growth company
OK - good results (but as expected and previously announced ...) and another cap rise (not previously announced, but somewhat expected as well). Looking into the expansion plans ... they start talking about a second site (which is in my view highly sensible, but not paid by this cap rise).
They expect 2017 to be similar to 2016 (which might indicate even a drop in EPS due to the increased number of shares). They say 2018 should be good (new investment will bring some return ... and hopefully no turbulence in the milk market) - this might be a good time to announce the next cap rise to fund the second site?"
In my view - SML is a good company and will continue to grow, but it is a long term play. No dividends at the horizon.
It will be a long time until they announce the next spectacular result (2018 if the stars are aligned)?
Discl: not holding at current, but watching. IMHO worthwhile buying if & when the price is right (not now ...).
BP,
Thank you commentary.
I too watch them,but have not been tempted to buy back in.[yet]
What the timeline for the rights? Too lazy to go to po.box and see if post arrived
Timeline below, nothing gets mailed out Until the 22nd (so too early to check your PO box)
19 September 2016 - Announcement of Offer - Trading Halt begins
21 September 2016 - Record date (5:00pm (NZ time))
22 September 2016 - Trading Halt ends on open of trading
- Retail Entitlement Offer opens
- Offer Document and Entitlement and Acceptance Forms are mailed out
11 October 2016 - Closing date for Retail Entitlement Offer at 5:00pm
13 October 2016 - Trading Halt begins - Retail Bookbuild
14 October 2016 - Trading Halt ends on open of trading
17 October 2016 - Settlement and allotment date for Retail Entitlement Offer, Retail Bookbuild and certain institutional shareholders
Thanks for that very helpful
Got the retail offer (rights) docs in mail y'day...
Noticed some big pre-market trades this morning..
1 2 9:03:00 am 320 250,000 $800,000 2 1 9:01:37 am 320 4,000,374 $12,801,197
The way things are going the SP will equal the offer price soon. I guess the market doesn't like a capital raise but the long term growth look very positive to me.