SUM - Summerset Group

[peat]

Fisher Funds announcing a substantial shareholder notice last week gives the clue that they see value here

I looked in detail at their transactions in that announcement. It would appear they have no clue on value, buying at the top, selling on the way down. I couldnt find anything amongst those transactions to indicate a savvy investor!!
Still it may not be the whole picture.....

As you know I'm a holder but , I'm not at all sure FF's purchase represents useful information

[BlackPeter]

I looked in detail at their transactions in that announcement. It would appear they have no clue on value, buying at the top, selling on the way down. I couldnt find anything amongst those transactions to indicate a savvy investor!!
Still it may not be the whole picture.....

As you know I'm a holder but , I'm not at all sure FF's purchase represents useful information

Selling on the way down could be a great way for people with deep pockets to test the lows and fill up when they reached them ...

Market dynamics is different for big players - Just saying ...

[Beagle]

Thanks BP, well said. They're probably in for the long haul and playing the long game.

[winner69]

Thanks BP, well said. They're probably in for the long haul and playing the long game.

A year ago they ceased to be a SSH when holding went from 5.2% to 4.8%

Friday’s announcement essentially says they bought and sold since and gone to 5.1%

Just the ebb and flow of their daily/weekly/monthly trading in the larger companies on the NZX ....doesn’t signal a new found conviction for the SUM

You guys see all sort of things that aren’t really there

PS ...if you look back they’ve filed a few becoming and ceasing to
Be SSH over the last few years ...holding around 11 million shares

[Joshuatree]

I heard from a builder in tauranga today,he said all the big developer/ house builders have stopped building any more as buyers have dried up.

Very savvy this builder. He also mentioned one of the big builders ( and gave their name)was still going but building only to order , specs have stopped. Be wary.Check the downtrend, ugly.

[peat]

Market dynamics is different for big players - Just saying ...

Losing is losing though. Just sayin ;+)

And Beagle, I am in for the long game as well.

You guys see all sort of things that aren’t really there

I just think that any single institution buying shouldn't be interpreted necessarily as a positive indication for a stock. Some of them win and some of them lose. Thats not to say that several institutions wouldn't send a clearer signal.
Best signal of all is of course a rising price absolutely indicating that demand exceeds supply

[couta1]

Losing is losing but when it's not your money it's a little different. Just saying. PS-Losing is a learned art and as long as you make more than you lose by a reasonable amount, does it really matter at the end of the day?

[winner69]

Fisher have had SUM in their portfolio for many years. Makes up about 5% of their NZ portfolio. Interesting they have more invested in Ryman.

Once in their portfolio it’s all about weightings, ratios and watching the squiggly line on the chart while they do a bit of trading (hopefully to maximise/optimise returns)

They have no new conviction about SUM ...probably in their lingo ‘the investment case remains unchanged’

Funny enough if the SUM share price jumps too much they might do a bit more rebalancing and issue a CEASING TO BE A SUBSTANTIAL SHAREHOLDER notice .....jeez punters would be able to jump to conclusions and say omg Fisher Funds believe no more and have sold out.

[Beagle]

Got that yesterday with your post #7557.

[BlackPeter]

Fisher have had SUM in their portfolio for many years. Makes up about 5% of their NZ portfolio. Interesting they have more invested in Ryman.

Once in their portfolio it’s all about weightings, ratios and watching the squiggly line on the chart while they do a bit of trading (hopefully to maximise/optimise returns)

They have no new conviction about SUM ...probably in their lingo ‘the investment case remains unchanged’

Funny enough if the SUM share price jumps too much they might do a bit more rebalancing and issue a CEASING TO BE A SUBSTANTIAL SHAREHOLDER notice .....jeez punters would be able to jump to conclusions and say omg Fisher Funds believe no more and have sold out.

Fair enough - SUM is just an integral part of their growth fund, which is probably reason enough to hold some as well :

https://fisherfunds.co.nz/assets/com...rowth-Fund.pdf

BTW - great selection of companies ... only Abano looks a bit out of place.

Any buying / selling might just reflect how their clients are shifting money around (e.g. from growth fund to balanced fund to conservative and vs versa);