SML - Synlait Milk Ltd

[nzsharetrade]

just like OCA, this is why I dont overexpose myself to any particular company, there are often surprises and disappointments and an individual human can not be expected to anticipate and avoid them. I'd reduced on this one a little while back due to the preference of having a balanced portfolio. Still a reasonable chunk at 15% but allows me to cope with volatility.
I dont quite understand how we got screwed by ATM though. They wanted lots of our product , couldnt go anywhere else to get it (afaik) and yet managed to beat us down in price. Hmmm

looks like the ceo of atm will keep screwing atm and not limited to atm......I believe the short will build from now to Aug or until full-year result with ATM.

[sb9]

Like others, lightened my exposure by offloading a third this arvo.

[pg0220]

Completely sold out at $10 today. I think the company will look good in 2-3 years but just needed cash in short term and $10.08 which was about today's high looked like the best it could hold. I remember this SML SP was very depressed a couple of years ago when I bought in and that was when they were in preparation phase for much growth with ATM. I remember that the SP couldn't quite rise much for a long time until they announced a huge growth with excellent margins reported. It looks like we will enter that phase again and it will be at least another 1-2 years until we see the market gets excited with SML....

[Beagle]

just like OCA, this is why I dont overexpose myself to any particular company, there are often surprises and disappointments and an individual human can not be expected to anticipate and avoid them. I'd reduced on this one a little while back due to the preference of having a balanced portfolio. Still a reasonable chunk at 15% but allows me to cope with volatility.
I dont quite understand how we got screwed by ATM though. They wanted lots of our product , couldnt go anywhere else to get it (afaik) and yet managed to beat us down in price. Hmmm

Beggars belief doesn't it. Management appear to have plenty of time to work on cultural sensitivity, diversity and other such programs and yet they drop the ball with the one thing shareholders expect of them. Disappointed is sometimes such an inadequate word. Bitterly disappointed...there, that describes it for me.

[RTM]

just like OCA, this is why I dont overexpose myself to any particular company, there are often surprises and disappointments and an individual human can not be expected to anticipate and avoid them. I'd reduced on this one a little while back due to the preference of having a balanced portfolio. Still a reasonable chunk at 15% but allows me to cope with volatility.
I dont quite understand how we got screwed by ATM though. They wanted lots of our product , couldnt go anywhere else to get it (afaik) and yet managed to beat us down in price. Hmmm

Yes....pleased to have moved on. They were about 4.5% of my portfolio. Agree with your comment re diversification...see earlier post if interested. Post 4255

https://www.sharetrader.co.nz/showth...imited/page284

Another thing that has become clear to me is that the quality of the management is paramount. We can speculate, model, up ramp, down ramp all we like on here...and I enjoy the analysis that Mr Beagle etc provides as much as anyone (thankyou). Remember SUM heading down ? HGH needing to raise cash, etc etc. But at the end of the day the company officers are the only ones who really know what is going on. And they can be economical with the info they provide to the market. So somehow....I need to make sure I orientate / weight my investments to companies where I can trust the management and are in sectors I like / understand. Not quite sure how to do that. And if I can't then, yes, diversification is certainly a way to minimise the pain when one of your punts goes south.

[horus1]

The same comments apply to directors. You Are dead right.

[winner69]

Must say Financals and the numbers in the presentation are very obtuse - they’re all over the place.

Probably done to confuse mere mortals like me but then I might be just plain stupid.

Maybe ts a bit like what maverick says about Oceania - the clever ones can see through the numbers and see how fantastic future profits will be, the majority Ar going to miss out.

[Beagle]

Yes....pleased to have moved on. They were about 4.5% of my portfolio. Agree with your comment re diversification...see earlier post if interested. Post 4255

https://www.sharetrader.co.nz/showth...imited/page284

Another thing that has become clear to me is that the quality of the management is paramount. We can speculate, model, up ramp, down ramp all we like on here...and I enjoy the analysis that Mr Beagle etc provides as much as anyone (thankyou). Remember SUM heading down ? HGH needing to raise cash, etc etc. But at the end of the day the company officers are the only ones who really know what is going on. And they can be economical with the info they provide to the market. So somehow....I need to make sure I orientate / weight my investments to companies where I can trust the management and are in sectors I like / understand. Not quite sure how to do that. And if I can't then, yes, diversification is certainly a way to minimise the pain when one of your punts goes south.

I must say I really do like your approach as clearly articulated in that post your referenced. Makes compelling common sense.
Got to say that this one hurts as I had high hopes for future growth and I feel that management have been more than a little economical with the truth...actually quite disingenuous. In my late 50's I make no secret of the fact that I'm tired of counting beans and looking to add more retirement to the term semi retired so a further tilt in my portfolio towards dependable dividend payers is where I'm headed. What's dependable and who can you trust...that's the $64,000 question isn't it !

[RupertBear]

Well not quite the result the Bear was hoping for I did manage to pick the bottom though as I managed to SELL a few at $9.30 Oh dear. Oh well I did sell a few @ $11.20 on Monday to some poor buggar so I guess its swings and round abouts. Bailed completely at $9.90 with a small profit but happy to be out as my Bear gut tells me this will probably go lower and I have totally lost faith in management. GLH

[tzbang]

I am also out. Been a holder of SML since $4.50. WAs 50% of my portfolio.
Being blindsided like this isn't something I forgive easily and in this current climate and my personal financial position - it's no longer worth the risk for me.

Still hold ATM and will consider topping that up a bit.