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13-06-2019, 12:18 PM
#471
Not far off $40, probably the most well managed company on he NZX
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14-06-2019, 05:28 AM
#472
Nearly 15 years ago, 5th post in on this thread is me admitting to owning some MFT.
As I recall I was poor in those days and owned 3,300 shares bought for about $6,360 including brokerage.
If I still owned them they would be worth $131,340 (a 20 bagger) plus a lot of dividends (the last year $0.56 a share, which is not bad when you bought them for about $1.93 each).
I must have kept them through the GFC when the share price shed more than 50%, but somewhere along the way I sold them for about $10 each and have thus missed out on a compound 24% plus annual return over those 15 years.
Not bought back in since, always thought they were too expensive.
There is a lesson or two there.
Disc: Do Your Own Research & Make Your Own Decisions
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14-06-2019, 08:35 AM
#473
I was somewhat late to the party with MFT but picked up 10,000 shares in the thirteen dollars range and have held since. It was a company brought to my attention by an FNZC broker whose colleague had been researching the company. I seldom follow broker recommendations but did in this instance and sunk half of the payout of a takeover in to this one and the other half in to EBO (my pick) of which I already held a useful number. MFT was slow to get going but has turned out well! It's a pity I didn't pick up a few more post the initial purchase. This morning noting that MFT, EBO & AIA (a long term holding) are at all time highs makes for a good start to the day. All three pay reasonable dividend yields based on the original purchase prices too.
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14-06-2019, 10:28 AM
#474
Originally Posted by Snow Leopard
...... somewhere along the way I sold them for about $10 each ........
That's great Snow Leopard - I bought in at about $10 in 2012: maybe I've got your shares ? Thanks! They have been a reasonable hold and are currently my largest holding on NZX. Great company but, like you say, the shares have been too expensive to buy in the last few years - like many assets unfortunately.
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14-06-2019, 10:40 AM
#475
Has just ticked over $40!! very happy with this investment :-)!
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14-06-2019, 10:40 AM
#476
Member
Originally Posted by Biscuit
That's great Snow Leopard - I bought in at about $10 in 2012: maybe I've got your shares ? Thanks! They have been a reasonable hold and are currently my largest holding on NZX. Great company but, like you say, the shares have been too expensive to buy in the last few years - like many assets unfortunately.
Since I read their book I was looking at the company but only the share price and PE which at first look wasn't attractive so just left it, I think at that time was around $18. Though I missed to check the EPS just in case. Anyway I guess given the track they might be keep going which sometimes makes me think of venture with a small parcel an see from there.
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14-06-2019, 11:02 AM
#477
Originally Posted by MauroNZ
Since I read their book I was looking at the company but only the share price and PE which at first look wasn't attractive so just left it, I think at that time was around $18. Though I missed to check the EPS just in case. Anyway I guess given the track they might be keep going which sometimes makes me think of venture with a small parcel an see from there.
I like the company. I like their attitude. Whether or not they are a good investment at the current sp price, I would guess in 10 years time they will still be a great company to own.
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14-06-2019, 11:34 AM
#478
Member
Originally Posted by Biscuit
I like the company. I like their attitude. Whether or not they are a good investment at the current sp price, I would guess in 10 years time they will still be a great company to own.
That was my feeling after reading their book.
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14-06-2019, 01:17 PM
#479
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14-06-2019, 03:08 PM
#480
Member
Originally Posted by lissica
Similar sentiments here.
I bought 1800 at $6.80 in 2007 and have never sold.
My perception of value has changed to a more long term view. Of all the rubbish I've collected over the years, my biggest regret is buying shares that are 'undervalued'.
MFT has always been expensive and I never bought anymore since 2007
Do you remember the research you did at that time?.
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