JWI - Just Living Group (Just Water International)

[Chaowee88]

Bugger, too slow. Tony moves to take over the company at 15 cents, good on him and fair enough. I wish him well, he's a nice guy.

Boom, here's my 20K payday coming at last

[Beagle]

Boom, here's my 20K payday coming at last

Well done and congrats.

[Chaowee88]

Well done and congrats.

Small article in the herald today, Brian Gaynor covers the plight of JWI, the most recent annual meeting etc etc. Awaiting for next weeks formal offer from Falkenstein, but from the looks of it the offer is more than likely going to get accepted, I know I will accept -_-

http://m.nzherald.co.nz/business/new...ectid=11347900

[GTM 3442]

B*gger.

Picked up some of these as a turnaround story a couple of years ago, and crystallized the loss a couple of weeks ago.

Perhaps patience is a virtue after all!

[Chaowee88]

B*gger.

Picked up some of these as a turnaround story a couple of years ago, and crystallized the loss a couple of weeks ago.

Perhaps patience is a virtue after all!

Only if it heading in the right direction. Some companies spiral towards oblivion but JWI has worked hard to slowly grind itself back.

Out of interest why did you sell?

[GTM 3442]

Only if it heading in the right direction. Some companies spiral towards oblivion but JWI has worked hard to slowly grind itself back.

Out of interest why did you sell?

Two years timer went off, no sign of the turnaround, so took the loss. Used the proceeds to have a punt on Cooks Foods.

Turnarounds get sold after two years if they haven't turned a buck for me.

[Joshuatree]

Really disappointing re Falkensteins lack of disclosure. Over many years I've come to realise that in the Investment universe when it comes down it, it is rare to find management putting shareholders ahead of or beside themselves.

[Balance]

Two years timer went off, no sign of the turnaround, so took the loss. Used the proceeds to have a punt on Cooks Foods.

Turnarounds get sold after two years if they haven't turned a buck for me.

I have learnt from experience that turnarounds usually take longer than 2 years - more like 3 to 5 years, if at all.

The other thing I have learnt is not to let the sp determine whether a turnaround is happening - the market always lag well behind the actual turnaround.

Examples of great turnaround stories - DIL & RBD.

Meanwhile some turnaround stories go on and on and on - eg. WDT.

JWI is certainly turning around imo - that's why Tony Falkenstein (not an entrepreneur to ever leave your funds with long term imo) is privatizing the company. He is no mug despite being a strategic business moron.

[winner69]

Really disappointing re Falkensteins lack of disclosure. Over many years I've come to realise that in the Investment universe when it comes down it, it is rare to find management putting shareholders ahead of or beside themselves.

Shareholders of any company are not what you think they are .... they are just like any other supplier, being the supplier of capital. So why should they think they are special?

And in some cases just the supplier of added wealth to a few individuals

[Chaowee88]

I have learnt from experience that turnarounds usually take longer than 2 years - more like 3 to 5 years, if at all.

The other thing I have learnt is not to let the sp determine whether a turnaround is happening - the market always lag well behind the actual turnaround.

Examples of great turnaround stories - DIL & RBD.

Meanwhile some turnaround stories go on and on and on - eg. WDT.

JWI is certainly turning around imo - that's why Tony Falkenstein (not an entrepreneur to ever leave your funds with long term imo) is privatizing the company. He is no mug despite being a strategic business moron.

4 - 5 years ago JWI was 26 million in net debt, since then it has come down to 12.6 million with revenue down 7 - 8 million but NPAT up to 2.2 million.
Yet during this time the SP didn't rise and hovered around 10C which is a surprise. The company is worth more than 15C a share but I'm happy having made a significant profit.