ATM - A2 Milk Corporation Limited

[couta1]

Just ignore him. He is grumpy because A2 is going down and he is being continuously reminded of it.

Mind you I am not exactly overjoyed by the trend myself

No not grumpy at all, Beagles post was all about KFL and nothing about A2.

[bull....]

a2 will get sold off more if biden wins cause us dollar will tank nzd race higher

[couta1]

Well I have to give credit to the insto's they are master manipulators, a year ago to the day the sp drop % from its high is almost a mirror image of what it is today, retail punters like lambs to the slaughter.

[Beagle]

Thanks for your encouragement .
My main points remain the same . KFL fund managers doing a great job ..by default A2 good investment as its one of their main picks . Secondly being participant in last 3 warrants issues of KFL ..I have observed that KFL trades at deep discount just before ( ie 60-15 days ) exercise date ...maybe due to people already discounting dilution and secondly due to arbitrage available in selling KFL and buying warrants . Many warrant holders dont have the funds to exercise but they were just playing with the call option which starts loosing time value near the exercise date . Last time it was as deep at 13 % near the end . Current premium to Nav is just retail exuberance ...wont last IMHO . Will be happy to know your insights too . I am very happy long term holder of KFL and think they have done very well in the last 3 years . Fisher funds are best experts of NZ markets ...my experience and opinion !

Yes the last warrant exercise and discount to diluted NTA created a very, very interesting opportunity for those who had the funds to deploy.
BRM trading at an unprecedented 16% premium to NTA...MLN and KFL also at quite a premium. I can't help wondering, (given the incredibly low level of interest rates and many shares not paying dividends this year) if its retired folks chasing the reliability of the 8% PIE tax free income ?

KFL have done well, no argument with that but sheeting this back on topic ATM shares touched a low of $12.19 this time last year (before anyone had even heard of Covid), and I think the outlook now is considerably more cloudy and challenging, especially on the geopolitical front. A test of that level wouldn't surprise me in the slightest, time will tell.
My reservation about KFL is the concentration of their portfolio compared to the other two, (hence my comment about perhaps a fresh perspective being needed earlier today), which are far better diversified. Perhaps we should chat some more about that in the appropriate thread.

[couta1]

Yes the last warrant exercise and discount to NTA created a very, very interesting opportunity for those who had the funds to deploy.
BRM trading at an unprecedented 16% premium to NTA...MLN and KFL also at quite a premium. I can't help wondering, (given the incredibly low level of interest rates and many shares not paying dividends this year) if its retired folks chasing the reliability of the 8% PIE tax free income ?
KFL have done well, no argument with that but sheeting this back on topic ATM shares touched at low of $12.19 this time last year (before anyone had even heard of Covid), and I think the outlook now is considerably more cloudy and challenging, especially on the geopolitical front. A test of that level wouldn't surprise me in the slightest, time will tell.
My reservation about KFL is the concentration of their portfolio compared to the other two which are far better diversified. Perhaps we should chat some more about that in the appropriate thread.

Take your KFL discussion to the appropriate thread please, don't mix your A2 down ramping in to justify the post.

[Beagle]

No not grumpy at all, Beagles post was all about KFL and nothing about A2.

Fixed that especially for you mate. Chill out buddy.

[causecelebre]

Deleted. Sorry double post

[causecelebre]

Excellent got filled at 14.21 and 14.06. Last hour has seen a a lot crossing the spread from .06 . Is going to be hard to break resistance at 14 i think

[couta1]

a2 will get sold off more if biden wins cause us dollar will tank nzd race higher

Have any other members got this Troll on ignore? He's close to earning the distinctive honor of being the first one in 7 yrs to go on ignore by me.

[bull....]

bidens ahead in florida , key swing state . close though.