Oh boy... Habour Asset Management buying SUM... I'd usually take an asset management firm buying up shares in xyz listed company as a good sign... but then you realise these guys are the ones who made a joke of themselves valuing their 7.32% stake in CBL Insurance at 28 cents a share (when we all knew it was worth nothing), but more worrying still is that they are the biggest holder of PEB with a whopping 16.47% stake (as at 31 March 2019)... both of these are fairly recent... and today these guys are disclosed buying more SUM........ given Harbour's very questionable recent track record (and its all about track records, as we know only to well on this form) I would think it is hard to get excited about them continuing to sink money into SUM.
Then again forsyth (the ones who like ARV) think SUM is pretty okay as well
Last edited by trader_jackson; 19-07-2019 at 04:31 PM.
Oh boy... Habour Asset Management buying SUM... I'd usually take an asset management firm buying up shares in xyz listed company as a good sign... but then you realise these guys are the ones who made a joke of themselves valuing their 7.32% stake in CBL Insurance at 28 cents a share (when we all knew it was worth nothing), but more worrying still is that they are the biggest holder of PEB with a whopping 16.47% stake (as at 31 March 2019)... both of these are fairly recent... and today these guys are disclosed buying more SUM........ given Harbour's very questionable recent track record (and its all about track records, as we know only to well on this form) I would think it is hard to get excited about them continuing to sink money into SUM.
Then again forsyth (the ones who like ARV) think SUM is pretty okay as well
Harbour have plenty of A2
”When investors are euphoric, they are incapable of recognising euphoria itself “
Wasn't there once a neat little "rule" that had SUM at 50% of RYM's shareprice?
Yea, but IMO there appears to be hot money chasing the top end of the NZX listings. RYM falls into that group, SUM is a bit smaller doesn't have a multi-billion market cap. This is assisting SUM to testing the lower end of this rule. Poor sales by SUM aren't helping.
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