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  1. #431
    Member glennj's Avatar
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    My updated holdings were on Computershare yesterday when I looked. I had noticed via the bank that the money had been taken from my account. I hedged my bets a bit taking up about two thirds of the entitlements I could have. I see that the institutions took up 98% of their entitlements but retail investors just 58% of theirs. The shares were trading at 6.49 yesterday which is somewhat positive!

  2. #432
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    I see Fisher Funds has taken a stake in Fletchers and have written up their reasons. Basically - new management, several core businesses that dominate their markets, selling overseas businesses and focusing on NZ and Australia, restructuring.

    They put some numbers out there - $1bill from selling Formica and Roof Tiles, other cost savings and initiatives adding $30-$50 mill to earnings.

    The article is here -

    https://fisherfunds.co.nz/newsroom

  3. #433
    Legend peat's Avatar
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    Quote Originally Posted by artemis View Post
    I see Fisher Funds has taken a stake in Fletchers and have written up their reasons. Basically - new management, several core businesses that dominate their markets, selling overseas businesses and focusing on NZ and Australia, restructuring.

    They put some numbers out there - $1bill from selling Formica and Roof Tiles, other cost savings and initiatives adding $30-$50 mill to earnings.

    The article is here -

    https://fisherfunds.co.nz/newsroom
    yeh they put a good story together , and were quite convincing.

    BUT, I always go back to the thinking (same as CVT) why buy/hold a company that keeps mucking you round. The story will be much more believable after they've actually achieved some positive results. And the risk is of course that they still continue to screw things up - after all its easier for a trend to continue in the same direction than it is for it to change.
    For clarity, nothing I say is advice....

  4. #434
    ShareTrader Legend Beagle's Avatar
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    Massive execution risk as they try and turn the Titanic around...who's too say they don't hit another iceberg and why would anyone give the board the benefit of the doubt, the majority of which are the same board who have presided over such an incredible amount of shareholder wealth destruction in the past ?

    Fisher funds have a very poor record lately and I don't think this decision will in any way be a catalyst to change that.
    Last edited by Beagle; 24-05-2018 at 02:51 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #435
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    Quote Originally Posted by Beagle View Post
    Massive execution risk ........
    Well, that would really be taking their responsibilities seriously.

  6. #436
    Legend minimoke's Avatar
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    A bit more bad news Fletchers could do without https://www.stuff.co.nz/business/104...ing-subsidiary

  7. #437
    The Kid
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    Hmm another dud for Tony Carter. “After five years at the helm, Blues chairman Tony Carter will leave the club at the end of the 2018 season.”

    http://nzh.tw/12064207

  8. #438
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by minimoke View Post
    A bit more bad news Fletchers could do without https://www.stuff.co.nz/business/104...ing-subsidiary
    But wait there's more...investigation pending into the price of building products.
    https://www.nzherald.co.nz/nz/news/a...ectid=12062945
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #439
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    But wait there's more...investigation pending into the price of building products.
    https://www.nzherald.co.nz/nz/news/a...ectid=12062945
    Good old Phil ....needs to keep bringing up the old perennials to deflect attention away from his main cause not going that well.

    Won’t get much traction

    Industry don’t need to worry that much
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #440
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    Another potential issue for FBU.....

    https://www.nzherald.co.nz/business/...ectid=12066750

    Doesn't stop pouring.

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