Mercantile Investments - MVT. (BIL revisited)

[Major von Tempsky]

Not sure how MVT comes into the title but I can't resist making a post anyway :-)
I played soccer at Vic University with Gary and Johnny Weiss and if it's the right Peter Wise (who now lives in Australia) he was in my class at Wellington College. And of course Sir Ron was at Wellington College - but about 10 years before me.

Sir Ron fell prey to an old temptation which once undid me, you look at your stocks and one seems head and shoulders above the rest so you sell off those and end up with just one stock. Happened with BIL when he ended up totally in London hotels (Mt Charlotte was it called?) under the premise that entry was too hard and he had cornered the hotel market. So entrepreneurs bought and built London office blocks which they then converted to hotels. Fatal. He also failed to read Buffetology by Mary Buffett which identifies a number of types of problem stocks such as commodities. Coats, which is what Sir Ron totally ended up in was in making and selling thread, an obvious commodity. And a further warning to those keen on Air NZ, Buffettology warns to keep out of because the barriers to entering the industry are too low and the profits rapidly get competed away. Here endeth the lesson :-)

[stoploss]

Not sure how MVT comes into the title but I can't resist making a post anyway :-)
I played soccer at Vic University with Gary and Johnny Weiss and if it's the right Peter Wise (who now lives in Australia) he was in my class at Wellington College. And of course Sir Ron was at Wellington College - but about 10 years before me.

Sir Ron fell prey to an old temptation which once undid me, you look at your stocks and one seems head and shoulders above the rest so you sell off those and end up with just one stock. Happened with BIL when he ended up totally in London hotels (Mt Charlotte was it called?) under the premise that entry was too hard and he had cornered the hotel market. So entrepreneurs bought and built London office blocks which they then converted to hotels. Fatal. He also failed to read Buffetology by Mary Buffett which identifies a number of types of problem stocks such as commodities. Coats, which is what Sir Ron totally ended up in was in making and selling thread, an obvious commodity. And a further warning to those keen on Air NZ, Buffettology warns to keep out of because the barriers to entering the industry are too low and the profits rapidly get competed away. Here endeth the lesson :-)

The fatal error ( correct me if I am wrong ) he did his favourite trick of building a stake . UK takeover law a bit different to NZ . He purchased too many and was obliged to make an offer for the lot ...ended up with the whole lot , lock stock and barrel .Too big a position basically for BIL and acted as a anchor on performance just like Coats and GPG .....

[percy]

Percy - you might need " share collector " after your member name like Mr Lizard!

No,no, it is MVT still holding TAG.
I only held TAG for a decade.1986 to 1996.
Major.Never knew there was a Johnny.
Yes Peter Wise moved from Wellington to Australia.
TAG The Anthony Group owned Arnold and Wright who retailed lighting etc.
He tried listing clever options,based on BIL,and Ariadne.BIL-Link,ARI-Link.
Previously he {peter] lost a lot on a caravan manufacturing business.

[Balance]

Ron Brierley is like a retired champion boxer - keeps coming back into the ring for one final hurray. Given the declines of BIL and GPG, rather sad and tragic except it's the shareholders who end up getting battered, bruised, bloodied and knocked unconscious. Rather sobering to watch from the sidelines!

[percy]

Ron Brierley is like a retired champion boxer - keeps coming back into the ring for one final hurray. Given the declines of BIL and GPG, rather sad and tragic except it's the shareholders who end up getting battered, bruised, bloodied and knocked unconscious. Rather sobering to watch from the sidelines!

Welcome to sharetrader.
For a first post that was "right on the button."

[Balance]

Welcome to sharetrader.
For a first post that was "right on the button."

Thanks, Percy. I have owned BIL and GPG, made money, lost money and after their restructuring post Brierley's exit, recovered some of the losses. Has fond memories of him in his prime but he is now a sad corporate figure to watch. Certainly not someone I would back again but there may be just enough followers of his out there to invest in a few and flick to them at a profit?

[percy]

Thanks, Percy. I have owned BIL and GPG, made money, lost money and after their restructuring post Brierley's exit, recovered some of the losses. Has fond memories of him in his prime but he is now a sad corporate figure to watch. Certainly not someone I would back again but there may be just enough followers of his out there to invest in a few and flick to them at a profit?

I think it is great people with long memories/experiences take the time to warn others.

[Crackity]

I think it is great people with long memories/experiences take the time to warn others.

Careful Percy - we will be straying into a Chris Castle discussion soon.....

[percy]

Careful Percy - we will be straying into a Chris Castle discussion soon.....

Russell Coward,Bruce Judge,and others, plus Chris Castle, certainly came flashing back into my never again memory cells.!

[Crackity]

Russell Coward,Bruce Judge,and others, plus Chris Castle, certainly came flashing back into my never again memory cells.!

Russell Goward who would jog to work stopping off for a canoodle with his wife's sister on the way!

Oh the memories.....