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11-02-2021, 06:43 PM
#181
Originally Posted by winner69
A PE guy once told me most advances made to them to buy businesses get laughed out the door (metaphorically) ....or if they show promise screw the price to hell.
If somebody fronted up to Waterman with a glossy brochure like the current MFB one they’d probably be laughed out the door
Old timer once said to me that anyone buying a company from a PE seller at an IPO is like being a hooker who is paying to get screwed.
Feltex, CBL, Wynyard, MPG, Intueri, Evolve but to name a few.
But the promoters will always tell you that this one is different.
Last edited by Balance; 11-02-2021 at 06:50 PM.
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11-02-2021, 06:49 PM
#182
Originally Posted by Balance
Old timer once said to me that anyone buying a company from a PE seller at an IPO is like being a hooker who is paying to get screwed.
Feltex, Wynyard, MPG, Intueri, Evolve but to name a few.
But the promoters will always tell you that this one is different.
Love how Henry from Jarden saying the listing offered investors access to a sector not currently represented on the NZ exchange.
Buy buy buy ...sector diversification is good for you.
Last edited by winner69; 11-02-2021 at 06:53 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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11-02-2021, 07:02 PM
#183
Originally Posted by winner69
Love how Henry from Jarden saying the listing offered investors access to a sector not currently represented on the NZ exchange.
Buy buy buy ...sector diversification is good for you.
Is it not obvious this is just an exit / sell-down strategy for early investors? Maybe I'm seeing spooks where there are none?
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11-02-2021, 07:05 PM
#184
Originally Posted by winner69
Love how Henry from Jarden saying the listing offered investors access to a sector not currently represented on the NZ exchange.
Buy buy buy ...sector diversification is good for you.
Who are the lead managers for this IPO?
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11-02-2021, 07:06 PM
#185
Originally Posted by Balance
Old timer once said to me that anyone buying a company from a PE seller at an IPO is like being a hooker who is paying to get screwed.
Feltex, CBL, Wynyard, MPG, Intueri, Evolve but to name a few.
But the promoters will always tell you that this one is different.
Nice walk down memory lane with that catalogue of "winners". Some real guesswork went into a lot of those forecasts just like with this one.
Anyone's guess what FY22 sales and resulting eps will really be.
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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11-02-2021, 07:07 PM
#186
The IPO numbers clearly sell this at a premium with partial ideas for expansion. Seems very slow going in terms of growth, but their prize asset is their platform which they could on sell many other products, which they haven't done so yet. So far theres not really a strong moat around this and thats pretty threatening when you pay for a high valuation and potentially lose value when someone else might come and eat their lunch (or dinner), its my food bag till the school bullies come along. Though I hope it does well because the lack of quality NZ companies coming on the NZX is very slim and boring for me.
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11-02-2021, 07:44 PM
#187
I see the promoters have paid themselves a $13m for the year ended March 21 ...(effectively being paid out IPO money?)
Can’t miss out on the profits already made
Suppose that’s the way private equity works.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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11-02-2021, 08:03 PM
#188
Risk Manager for FTX
Originally Posted by Balance
Old timer once said to me that anyone buying a company from a PE seller at an IPO is like being a hooker who is paying to get screwed.
Feltex, CBL, Wynyard, MPG, Intueri, Evolve but to name a few.
But the promoters will always tell you that this one is different.
Your mates Milford are in so I assume you will be following the breadcrumbs
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11-02-2021, 08:06 PM
#189
Originally Posted by winner69
I see the promoters have paid themselves a $13m for the year ended March 21 ...(effectively being paid out IPO money?)
Can’t miss out on the profits already made
Suppose that’s the way private equity works.
And many usually leveraged up to the hilt before things hit IPO
with the hefty prescribed Intangibles to balance the heist..
Many if not all of the examples in Balance's earlier post fit this mode operandi:
"Feltex, CBL, Wynyard, MPG, Intueri, Evolve but to name a few."
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11-02-2021, 08:22 PM
#190
Originally Posted by Gerald
Your mates Milford are in so I assume you will be following the breadcrumbs
Just as they were in Wynyard, Orion Health & CBL.
Stayed well clear of those three IPOs and it had nothing to do with luck or blindly following the 'smart' money.
Be discerning, my friend!
Last edited by Balance; 11-02-2021 at 08:26 PM.
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