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26-03-2018, 02:00 PM
#1191
A scathing article by Shoeshine- Jenny Ruth in the NBR today
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26-03-2018, 02:15 PM
#1192
Originally Posted by iceman
A scathing article by Shoeshine- Jenny Ruth in the NBR today
Yes really scathing noting that the numbers don't appear to add up.
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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26-03-2018, 02:17 PM
#1193
Originally Posted by iceman
A scathing article by Shoeshine- Jenny Ruth in the NBR today
Any kind of excuses by Tegel directors and management to try and bluff their way out - to cover their inability to grow profits and grow the company - what they promised to get IPO $$$$ out of punters in NZ (courtesy as well of Forsyth Barr of Feltex, Wynyard and Credit Sails fame).
75 cents is where it will go - all the supermarkets have drumsticks on specials this week it seems, as well as the local shops and the ever reliable Mad Butcher. Ain't no sign of the discounting chicken war abating.
Last edited by Balance; 26-03-2018 at 02:22 PM.
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26-03-2018, 04:04 PM
#1194
I and others correctly observed that at the time of the IPO chicken feed costs and diesel costs, (distribution costs are a huge factor) were at cyclical lows.
Its clear the promoters timed the IPO well. What's also clear in terms of their talk of growth is they applied very liberal amounts of lipstick to a pretty ordinary looking pig...something seasoned investors have come to expect from private equity floats. Talk of overseas growth was just that...talk, and that's all it will probably ever be in my opinion. Who's going to 60 cents first, this or MPG ?
Last edited by Beagle; 26-03-2018 at 04:05 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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26-03-2018, 10:11 PM
#1195
Originally Posted by Beagle
I and others correctly observed that at the time of the IPO chicken feed costs and diesel costs, (distribution costs are a huge factor) were at cyclical lows.
Its clear the promoters timed the IPO well. What's also clear in terms of their talk of growth is they applied very liberal amounts of lipstick to a pretty ordinary looking pig...something seasoned investors have come to expect from private equity floats. Talk of overseas growth was just that...talk, and that's all it will probably ever be in my opinion. Who's going to 60 cents first, this or MPG ?
Still in agreement with Beagle.. Ref. My posts 58 60 63..
Two companies in competition to be the cheapest.. Not much profit in that..
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26-03-2018, 10:39 PM
#1196
Originally Posted by Beagle
I and others correctly observed that at the time of the IPO chicken feed costs and diesel costs, (distribution costs are a huge factor) were at cyclical lows.
Its clear the promoters timed the IPO well. What's also clear in terms of their talk of growth is they applied very liberal amounts of lipstick to a pretty ordinary looking pig...something seasoned investors have come to expect from private equity floats. Talk of overseas growth was just that...talk, and that's all it will probably ever be in my opinion. Who's going to 60 cents first, this or MPG ?
But no mention of competitor Inghams also ramping up their ops, thats whats done the damage imo.
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26-03-2018, 11:59 PM
#1197
Tegel sell a commodity product into a price-sensitive market.
Buy at the right price, and it's like buying an electricity company.
I don't think we've seen the right price yet.
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27-03-2018, 12:05 AM
#1198
Originally Posted by Joshuatree
But no mention of competitor Inghams also ramping up their ops, thats whats done the damage imo.
Ingham actually delivered a very good result (beating consensus forecasts on earnings, dividend, cash flow and debt reduction), were candid about the impact of rising costs when their hedge contracts expire and had a credible plan to address at least some of the impact. ING's management strike me as being very different from TGH's .... so far.
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27-03-2018, 07:29 AM
#1199
Originally Posted by GTM 3442
Tegel sell a commodity product into a price-sensitive market.
Buy at the right price, and it's like buying an electricity company.
I don't think we've seen the right price yet.
So what is the right price?
Everything has a right price and as CBL shareholders have found out, it could be zero!
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27-03-2018, 07:53 AM
#1200
Originally Posted by Balance
So what is the right price?
Everything has a right price and as CBL shareholders have found out, it could be zero!
I wouldn't buy the stock at any price on principal, whilst the CEO receives one of the most outrageous salary's in NZ for the non performing dog Tegal is(Roughly 4 times what the SUM CEO receives by comparison)
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