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08-04-2020, 01:54 PM
#1511
Originally Posted by Beagle
From 3 February 2020. Perhaps we should allow ourselves a small pat on the back selling at ~ $6.90
I don't think you are far off the mark at $3.17 but note you bought only a small parcel. I am thinking of dipping a paw in the water too but there's probably a VERY substantial overhang from disenfranchised arbitrage players so (oh my goodness), who knows how low it could go ?
OCA did get down to 38 cents at one point, (just 37.52% of its last reported NTA) so using that as the sole beacon of light by which to navigate, we could see 0.3752 x $7.00 = $2.63
Yes anyone have some numbers of just how big that overhang is?. I noticed quite a few SSH notices from various entities on mET announcements.
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08-04-2020, 02:04 PM
#1512
I make it re 63 million shares from Mitsui, Jp Morgan, Morgan stanly, UBS. If they are all bailing aways to go.S/P could drop alot more.Sub 10,000,000 gone today last i looked.
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08-04-2020, 02:12 PM
#1513
Plus another at least 30 mill shares from Vanguard millennium and others.
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08-04-2020, 02:12 PM
#1514
Suspect the fundies who sold their shares at over $6.80 to the arbitrage players are stepping up and now and buying back at less than 50% or half price.
Ready for the next round!
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08-04-2020, 02:24 PM
#1515
Could be too. Awaiting the next SPH notices with interest.
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08-04-2020, 02:37 PM
#1516
Originally Posted by winner69
Guru investor Butch did his sums and declared “MET IS A BEARY GOOD BUY AT TODAY’S PRICE”
PA I keep reminding Butch to give his desk a decent clean
Reckon APVG will be back post lockdown (probably in 2021) with a new bid of say, $5.40 - 20% discount from NTA?
New shareholders will grab that kind of new offer with both hands.
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08-04-2020, 02:45 PM
#1517
Originally Posted by Cyclical
Well, you did say in the shopping list thread "MET $3.50 (inept management and imminent takeover failure, needs to be half NTA to get me interested)" haha.
I'm in.
Yeap...I'm definitely interested. Hmmm, timing this one could be tricky but if Winner's teddy bear reckons there's value here then who in their right mind would argue with that
Last edited by Beagle; 08-04-2020 at 02:46 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, 02:46 PM
#1518
God almighty...how many people lost the money during this covid 19?
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08-04-2020, 02:52 PM
#1519
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?
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08-04-2020, 02:56 PM
#1520
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?
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.
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