Barramundi ( BRM )

[JayRiggs]

A rather simplistic way of looking at why BRM has been a poor performer, I plugged all 18 stocks of the portfolio into Google finance and come up with a 1 year chart (see chart attached).
Attachment 5656

It was going OK from February through to October, but since late October, it's down about 12%, while the ASX200 is up 0.6%, more or less sideways.
Sure this only shows equal weightings between all portfolio holdings, but you get the picture.

Quite simply, some of the holdings have just been pure stinkers for the past year.
CRH: -66.01%
MCP: -46.46%
MMS: -34.56%
NBL: -40.96%
TRS: -39.29%
UBI: -52.9%

[Balance]

Hey zigzag take balance along ' s/he will be your doggy bag and bubble guzzler and who knows his/her dreams may come true; Carmel may stick her tongue in his/her ear(worst nightmare more prob)

So now we know the real reason why you bought BRM.

Nice one, Joshuatree.

PS. The managers drink real French champagne in Paris while you drink ?

[Joshuatree]

Lindauer Summer, great drop for a great price.Similar with BRM atpit(for me) but hope to be holding in my system a bit longer but who knows.

[Balance]

Lindauer Summer, great drop for a great price.Similar with BRM atpit(for me) but hope to be holding in my system a bit longer but who knows.

A man of outstanding taste - you are that and more

[Balance]

A rather simplistic way of looking at why BRM has been a poor performer, I plugged all 18 stocks of the portfolio into Google finance and come up with a 1 year chart (see chart attached).
Attachment 5656

It was going OK from February through to October, but since late October, it's down about 12%, while the ASX200 is up 0.6%, more or less sideways.
Sure this only shows equal weightings between all portfolio holdings, but you get the picture.

Quite simply, some of the holdings have just been pure stinkers for the past year.
CRH: -66.01%
MCP: -46.46%
MMS: -34.56%
NBL: -40.96%
TRS: -39.29%
UBI: -52.9%

Good work, JayRiggs.

[Joshuatree]

Thanks Think they're a good match.Now for RYM id have an Elspeth Syrah Gimblett Gravels Reserve from our local Winery Mills Reef Estate. For Z energy id have a can of V and for rakon id suggest a litre of used fish and Chip vat fat. Horses for courses but sorry this should be in The lounge thread.

[Joshuatree]

Good work, JayRiggs.

Yes great sleuthing. I bailed out of MCP myself. It had a history of great divis but now is struggling to hold margins in the retail supply sector

[Toulouse - Luzern]

Hi
Thanks Balance and others for all your informative posts on this.
I agree with your information Balance
A few comments from my perspective.
May be in error and IMHO.

I held the underlying fund FFM Australian Growth for many years but exited this some time ago.
We all have options and for me there seemed better options.
Firstly they did perform well in their peer group and over many years and showed strong portfolio selection, management and performance.

Fisher Funds AGF hold only Aussie equities unlike other NZ Australasian funds that may have performed better and have a fair chunk in NZ equities (and may be overweight in NZ equities) that have performed better recently than Aussie equities.

I totally respect FFM professionalism and the undoubted effort that they have put in and that FFM are unlikely to ever comment on forum comments.

It seemed to me however that Fisher Fund AGF portfolio recently seemed to lack underlying strategy and yes "balance".
Too many recent sudden negative surprises for me, and uncertain responses to events.
Too many small losses became big losses, largely negating the better performers.
For me if you have to monitor a fund performance, and actions too closely, and you lose confidence in performance, then it is better for you to exit.
As a defensive strategy Fisher Fund AGF also appeared to me to consistently have a larger % in cash than I prefer.
I have my own Term deposits and bonds etc.
Noted that Fisher Funds have announced a recent change in portfolio manager.
Noted also that FF are a frequent buy back of BRM shares at the discount to NAV.

I certainly hope more patient investors will be rewarded with a positive upward move in the portfolio and wish them all the best with their investment.

[Balance]

hey Balance I have to ask you this because you seem to imply that if alot of poeple have gained little or lost money on the fisher funds so that in your opinion means they have to be a dog.
So does this mean all the following shares are dogs too because alot of money have lost money on them or are you just selective in your opinion.
Telecom high about$10 now @$2.40
telstra high about $12 now @ $5
DIL high about $8 now @ $4
NZR high about $18 now @$1.75
CNU high about$4 now @ $1.70
QAN high about $5 now @ $1.00
QBE high about $25 now @ $12
Plenty more of these sorts of stocks(too many to list)
Surely they cant all be dogs just because alot of poeple got the timing wrong and lost money.

Snapiti, some of them definitely qualify as dogs - how else would you describe Qantas or Telecom?

But more to the point is the track record of the management and the company of why it is a dog.

In Telecom's case, the billions of dollars they lost in their misadventures (especially in Australia) could have been better spent building the BEST communication infrastructure in the world. NZ$3 billion down the drain and left NZ decades behind in the rollout of UFB.

With Telecom, management was changed but alas too late for shareholders.

With BRM, you cannot change the management and it's job for life - heads they win, tails you lose. That's why it is a barking dog.

BTW, NZR had a share split a while ago so you might want to check that.

[Beagle]

Have to agree I am a big fan of Milfords.
They have alot of my money and they have performed very well but like for like in the time I have had BRM and KFL these funds have outperformed in over all terms when compared to the 2 funds I have money in with milford.
Does this make Milford a dog hmmmm I dont think so.
Or does this mean I am paying the Milford fund managers to much me thinks not.
Hell dont tell the fisher fund managers they have outperformed milford cause they will put their fee's up.

Any fund manager can fluke a good year or two by taking positions that eventually come off but its the long term track record of a fund manager that interests me, which is what shows whether they really have intelligent investment professionals that can consistently outperform the market.

Just out of interest to test your assertions, I went onto the Direct Broking website and using their supercharts I compared the performance of Barramundi for the last 3 years against the ASX all ordinaries index. Australian all ordinaries was up 8% and Carmel's team of investment "experts" are down 25% !!

ASX index excludes dividends so even when you take into account Barramundi's bizarre practice of paying taxable dividends out of capital, if we assume there's about a 5% difference between the taxable capital return Barramuni makes at 8% per annum and the average divvy yield on the ASX of 3% I calculate Barramundi have underperformed the benchmark Aussie index by approx 18% over that period of time, that's before you consider the tax people have to pay on their capital return which it could be argued is a deceptive practice.

You'd have been better off three years ago (by at least 18%) flying to Australia, buying a copy of the Australian financial review, bribing a Zoo keeper at the Sydney zoo to let you into the monkey enclosure and getting one of their monkeys to throw some darts at the ASX share page...and to think people pay them for their "professional" expertise LOL