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08-04-2020, 02:59 PM
#1521
Originally Posted by Cyclical
Once the dust has settled, it will be interesting to see where this stock settles. Now that we know the take over is off the table, will it actually head higher than it was when people were still in denial? It's been humming around 380 for the last few days, give or take, so I wonder with the take over uncertainty gone, if it will get back up to more realistic levels. If we go back to OCA as a reference, currently trading at about 66% of NTA, can we expect MET to track towards ~460 in the not too distant future?
There's probably enough potential buyers out there who're not entirely convinced that the action is over to keep the dust circulating for a while yet. Beagle for one? Me?
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08-04-2020, 03:16 PM
#1522
Originally Posted by macduffy
There's probably enough potential buyers out there who're not entirely convinced that the action is over to keep the dust circulating for a while yet. Beagle for one? Me?
Beagle sold out when the going got a bit wobbly (well done) so now buying back?
Not often one sells and buy back T less than half price within 3 months!
Imagine if you can do that with physical properties!
Last edited by Balance; 08-04-2020 at 03:23 PM.
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08-04-2020, 03:21 PM
#1523
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08-04-2020, 03:22 PM
#1524
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08-04-2020, 03:30 PM
#1525
Also in the not convinced camp ..........but looks like todays happy hours is over
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08-04-2020, 03:32 PM
#1526
Originally Posted by Balance
Simple demand and supply imbalance at present - arbitrage funds all trying to head out through the one small door and NZ fundies who sold to them at $6.50+ salivating by the door to help them out at the lowest price possible.
Hits the nail directly on the head !
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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08-04-2020, 03:50 PM
#1527
Originally Posted by Beagle
Hits the nail directly on the head !
And don't forget that there were two other unsolicited expressions of interest in taking over Metlife - APVG moved its bid up to $7.00 (from $6.50) partly to head off any other competing bids.
At $3.50, MET has got to be in play again post the lockdown - as long as the retirement village sector does not have the same problems as those in Italy, ie. virus clusters.
Deals do not stop especially when there's going to be a lot of cheap money around with the trillions of dollars being pumped into the financial system. Prices will change for sure as nobody will want to pay pre-Covid19 prices.
Last edited by Balance; 08-04-2020 at 03:54 PM.
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08-04-2020, 03:53 PM
#1528
Originally Posted by Balance
And don't forget that there were two other unsolicited expressions of interest in taking over Metlife - APVG moved its bid to $7.00 partly to head off any other competing bids.
At $3.50, MET has to be in play again post the lockdown - as long as the retirement village sector does not have the same problems as those in Italy, ie. virus clusters.
Woof woof, I hear ya ! It also has the lowest gearing in the sector, the highest embedded value per unit in the sector and can easily slow down its development plans to ensure a better balance between supply and demand for units. Effectively one is buying (mainly Auckland), property at half price, which would be compelling if Mr and Mrs Beagle didn't have so much of it, (non listed) already.
Half price is half price though...Hmmm..if Winner's teddy bear has told him this is a great buy, what could possibly go wrong
Last edited by Beagle; 08-04-2020 at 03:56 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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08-04-2020, 03:56 PM
#1529
Originally Posted by Beagle
Woof woof, I hear ya !
Haha - we are both back in, I think and I can hear the howling too (of losses) from the arbitrage players as you bark at their heels.
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08-04-2020, 04:00 PM
#1530
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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