PTM - Platinum Asset Management

[Lawso]

quote:What to do now? - sit on my 2000, sell for a 70% profit, or buy another 2000 and average my buy price down to around 675? Decisions decisions.

I finally chose a fourth option - bought another 1000 this morning @ 870. So I now hold 3000 PTM which have cost an average of 626cps

[soulman]

This remind me of how BNB was floated. $5 shares opened at the mid $8.50's. I would take the money for PTM and wait for $7.50. Great sell at an even $9 yesterday if anyone here did it. Not a holder and only hear about this yesterday. Is the new IPO of Plan B (boutique fund management) is a different proposition?

Anyway, is there any general public applicants that receive allocation?

[mark100]

Hi soulman,

Yes it remainds me a bit of the BNB float as well. And look at what it did following the float. $9 looked expensive but a heap of profit upgrades and less than 3 yrs later its over $30.

Obviously BNB floated early in the bull market and PTM may have listed near the end. But it still shows that a quality business can surprise on the upside and all of a sudden it looks cheap again.

Cheers

[soulman]

Hi Mark,

Did you apply for PTM IPO and if you get allocation, was that through general public offer or through Commsec priority?

Also, BNB is in a different industry and has enormous upside, as shown in their SP for the past 2 years.

[mark100]

Yes BNB is a different industry but should the sharemarket start to wobble so will BNB (as will PTM). BNB is dependent on selling assets into listed and unlisted funds.

Do you think that funds management doesn't have enormous upside?

I got a very good allocation in the IPO

cheers

[soulman]

Yes, I think Funds Management has upside but I tend to favour AMP and Perpetual due to superannuation growth. PTM has come back a bit since listing but that is understandable due to profit taking and also the market having bad days recently. Just imagine PTM listing on the next day after they listed. I wonder how much would they have opened. They did list on the day the market was roaring.

[777]

Steady decrease in the share price of this stock. Anyone have any thoughts as to what is a good price to buy in? There must be point that they become oversold.

[777]

Thank you Z Man. Will hold what I have but resist buying more at the stage.

[777]

A continual fall back in share price in this stock.

Their last announcement was regarding the outflow and expected outflow of funds under management for September and October as one offs but this represents less than 3% of funds under management so is there another reason or is this just an over reaction.

[Lawso]

We now have two PTM threads, this one and one I started in August - "Platinum - more like lead". That has gone quiet lately while the sp has kept on falling disastrously to under $6. I can't help you, 777, but the fall seems too severe when the only explanation is a drop in FUM.