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20-11-2019, 01:22 PM
#741
Originally Posted by winner69
Infratil did OK with Metlifecare a few years ago before they sold out
Sold at a good time too by the looks of things, this excitement has only just pushed the SP higher than IFT sold their stake at two and a half years ago (5.61)
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20-11-2019, 01:22 PM
#742
I think the Queen still owns just under 20% of MET
If any deal goes through she’ll probably reinvest most back into the sector ....that would be good
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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20-11-2019, 01:54 PM
#743
Originally Posted by Maverick
Well done and contragulations Beagle and Winner, (and Couta yesterday on ATM) I'm thrilled you all were rewarded for your strategies.
Thanks mate. Great to see OCA up as well. The thing about this potential deal is it shines the spotlight on how cheap the whole sector, (perhaps with the exception of RYM) is relative to expected future growth rates.
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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20-11-2019, 04:41 PM
#744
Added more today. Reason is that at $5.70 that's probably still ~ $1.50 under my estimated NTA as at 31 December 2019 of $7.20.
At $5.70 I am still happy to hold long term even if this deal doesn't happen, forward PE at that price is 11.7 by my calculations, still the cheapest in the sector by a fairly wide margin. I like how they are transforming their business model to a more care centric one and I think sooner or later they will trade at or about their asset backing even if this deal doesn't happen.
Its only really jumped 50 cents from the ~ $5.20 it was last week, so there's only one quarter of the potential upside to as much as $7.20 been baked into the price so far.
I think the key word here is the buyer is "credible" and the key action here is that they are "talking" and there must be some realistic chance of this deal happening as otherwise they wouldn't have stopped the buy-back.
Last edited by Beagle; 20-11-2019 at 05:20 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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20-11-2019, 05:32 PM
#745
NBR reporting discussions are "open ended". That sounds like a "we're interested but come back with a better price" type of situation to me.
https://www.nbr.co.nz/story/metlifec...s-takeover-bid
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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20-11-2019, 06:16 PM
#746
They say ‘... the price proposed is below the board’s expectations on value’
Hope the MET Board not as delusional as the ABA and the STU Boards were.
Beagle give me a really good telling off the other day when I said the Board lacked drive and ambition (at least I didn’t say delusional)
So we’re lucky having a top notch experienced Board making sure we get a good deal.
But if it gives instos and ot
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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20-11-2019, 09:27 PM
#747
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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20-11-2019, 09:31 PM
#748
Originally Posted by Beagle
LOL - I don't want to know !!!!
Not besotted but the more I look the more my nose for a feed tells me to keep buying because there's compelling value and a giant sized feed coming here.
The value here is like an all you can eat buffet at Fortuna restaurant @ $25.95 for lunch. You simply cannot go wrong, unless of course you overeat and do a Couta1
Posted on 16 November 2019. You can't bark clearer than that !
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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20-11-2019, 09:37 PM
#749
Originally Posted by Beagle
Posted on 16 November 2019. You can't bark clearer than that !
And if you had over eaten and done a Couta 1 you would be even better off but I notice you didnt highlight that bit.
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21-11-2019, 10:30 AM
#750
I expect these talks to go on for a week or two (as a minimum), so there is still time to take a position if you feel the undemanding metrics of this company are good value irrespective of the outcome of such discussions. I think its possibly worth noting that MET is the only stock in this sector to trade at a discount to NTA (which I have estimated at $7.20 as at 31 December 2019).
Happy to leave it to you and those others who want to to take very concentrated investment positions Couta1. I am happy with my investment methodology and very happy with the results I'm achieving.
Last edited by Beagle; 21-11-2019 at 10:32 AM.
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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