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10-12-2021, 10:12 AM
#941
Member
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13-12-2021, 09:37 AM
#942
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
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13-12-2021, 10:10 AM
#943
I wonder why BRM and the others for that matter (KFL and MLN) never use their permitted 20% gearing. You would think at least during the crashes they would leverage up and double down on the companies in their portfolio
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13-12-2021, 10:46 AM
#944
Member
Originally Posted by Beagle
Who cares when we filled our boots with warrants Beagle?
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13-12-2021, 11:30 AM
#945
Beagle's having a 'Beagle morning'.
Again.
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13-12-2021, 11:36 AM
#946
Originally Posted by dabsman
Who cares when we filled our boots with warrants Beagle?
It is unusual to see them underperforming the market. Hope its not the start of a new trend.
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
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10-01-2022, 12:35 PM
#947
Member
A bit of a downwards trend starting… not many bids… hopefully their portfolio does a bit better this quarter!
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13-01-2022, 02:54 PM
#948
82.5 cents NTA today, down just over 3 cents in just the last week and 11.5 cents since the 94 cent NTA of early Sept 2021. Been a couple of dividends since then, 3.50 cents in total and the warrant issue dilution, (by my calculations diluted NTA by 5.95 cents), so a total of 9.45 cents of the 11.5 cent decline was caused by these two factors, (real adjusted decline since early Sept 11.5-9.45 = 2.05 cps = 2.2% against the ASX 200 down from 7540 in early Sept to about 7440 yesterday, just on 1.2% over the same period, (so BRM definitely underperforming the ASX200 a bit over the last 4.5 months). Yesterday's close of 97 cents https://www.nzx.com/announcements/385920 represented an 18% premium to NTA (Not warranted in my opinion).
I worked this all out for my own benefit so I can understand whether to throw Fisher's unlisted Australian growth fund a bone or two but am left wondering if this is the start of a new trend where the high PE stocks BRM invest in exhibit relative underperformance to the market ? Certainly at the least I think its fair to say in the short term BRM's outperformance has stopped for now. Probably just sit on my hands for a while and review again in due course.
Last edited by Beagle; 13-01-2022 at 03:02 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
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27-01-2022, 02:47 PM
#949
Getting towards the end of the month and BRM are off to a shocking start in 2022 with year to date NTA now 75.99 cents down more than 10 cents from 86.1 cps where it started the year, WOW that's exactly a whopping 11.75% decline in less than a month !! whereas the ASX200 which as of yesterday's close is down 7% Year to date. 4.75% underperformance in just under one month is significant and shows their high growth, high PE stock selection is unsuited to the current reversal of trend towards value and growth at a reasonable price stocks. They are up a few cents today which is completely irrational given the huge fall in NTA in the last week and a further significant fall in the ASX today.
In addition to the above some of their bigger holdings are down 7-9% today like Wisetech and Xero for example.
I'm staying well away.
Last edited by Beagle; 27-01-2022 at 03:16 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
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27-01-2022, 03:15 PM
#950
Member
Originally Posted by Beagle
Getting towards the end of the month and BRM are off to a shocking start in 2022 with year to date NTA now 75.99 cents down more than 10 cents from 86.1 cps where it started the year, WOW that's exactly a whopping 11.75% decline in less than a month !! whereas the ASX200 which as of yesterday's close is down 7% Year to date. 4.75% underperformance in just under one month is significant and shows their high growth, high PE stock selection is unsuited to the current reversal of trend towards value and growth at a reasonable price stocks. They are up a few cents today which is completely irrational given the huge fall in NTA in the last week and a further significant fall in the ASX today.
I'm staying well away.
Have u sold urs? Or still holding?..
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