Barramundi ( BRM )

**Beagle** · 27-05-2011, 04:25 PM

Obviously it was a flippant comment but there's quite a difference between a brilliant stable and quite predictable growth stock like Ryman and a Russian roulette gamble on an emerging biotech company. The only two things those two stocks have in common is they're in the health field.

There's a vastly different risk profile between these two companies, in fact i'd go so far as to say its almost impossible to overstate how wide the gulf is.

**Toulouse - Luzern** · 27-05-2011, 11:09 PM

Originally Posted by 777

These don't look too bad.

Current Unit Price (as at 25 May 2011) $2.1972

Fund Inception June 2005
How has the fund performed as at 30 April 2011

One Month Twelve Months Two Years* Three Years* Since Launch*
Australian Growth
(Average Annual Compound Return) - 0.7% + 18.7% + 32.4% + 12.6% + 9.4%

Benchmark
(90 Day Bank Bill Rate) + 0.2% + 3.1% + 3.0% + 4.4% + 6.2%

Hi 777,

You make a fair point at face value that FFM BRM (and also FFM Australian Growth Fund AGF and NZ Growth Fund NZGF - I hold both) have delivered gains over recent months.

However we all look at performance related in our own personal situation.
Whether FFM AGF and NZGF has been a winner depends on just when and how your capital input went in. For example the timing and amount of lump sums and monthly contributions and whether you kept investing new capital monthly after the large falls of a couple of years ago (GFC).

Notwithstanding recent newsletter published gains there are long term FFM investors that are out of the money and especially now with FFM AGF and the PXS disaster.

**Toulouse - Luzern** · 27-05-2011, 11:58 PM

Hi all,
Todays situation and subsequent share price action in PXS reminds me:

One lunchtime, a few years ago in the Direct Broking WLG office area that had PCs available for investors I met a chap who was checking on how his very recent investment in Centro CNP on the ASX was doing.
After the initial collapse of the CNP shareprice he had quickly invested at the bottom anticipating a bounce as all the bad news was out there and people had panicked driving the share price down. He thought there was an opportunity for short term gain.
He had not been a CNP holder before the SP collapse.
His entry and exit strategy was very successful.

I note tonight that today PXS is up 21 cents to 92 cents at the close and 19.5m went through at VWAP 86.7 cents.
FFM averaged 82.29 cents for their 700,000 shares.

It is on record that: a director of PXS sold 500,000 shares at $2.95 a week before the announcement and that another director bought 250,000 at 80 cents today. BNP Paribas sold 3.5m shares about 18% of their holding.

I am not clear if FFM and BRM are 100% out of PXS at this point ...

**Catalyst** · 28-05-2011, 12:27 PM

T-L : Check out the FF website for their comment on PXS...

"...we have decided to exit our position in the company and watch the review process from the sidelines."

**Toulouse - Luzern** · 28-05-2011, 02:12 PM

Originally Posted by Catalyst

T-L : Check out the FF website for their comment on PXS...

"...we have decided to exit our position in the company and watch the review process from the sidelines."

Thanks Catalyst,

I am not clear if what they mean is that they are 100% out allready, or that they have decided to get out over an unknown future timeline...

**Balance** · 28-05-2011, 03:36 PM

Originally Posted by Toulouse - Luzern

Thanks Catalyst,

I am not clear if what they mean is that they are 100% out allready, or that they have decided to get out over an unknown future timeline...

FF's style is that they dump and run when selling, just as they chase and ramp when buying.

Signaling to the market that they have decided to sell is plain dumb - unless they have already sold.

But then, FF has never had any problems with attracting the punters to lose money - $24m lost and she has made millions losing the money. Nice!

**Beagle** · 30-05-2011, 10:55 AM

^^^ Yeah mate, sigh...have they ever heard of the phrase, reduce ? No just dump the lot all at once and call that prudent ? It just beggars belief...

**Awamoa** · 30-05-2011, 01:00 PM

PXS up 35% today to $1.25.Looks like a bad decision Carmel.

**LeBOJ** · 30-05-2011, 01:49 PM

At least this holding was liquid. She tends to build up large parcels in illiquid stocks that she can't get out of if things sour. Might have been better in this case if she was stuck with it!