they do get investments wrong. the main dude said in nov last yr nvidia not really worth us owning
Printable View
they do get investments wrong. the main dude said in nov last yr nvidia not really worth us owning
Given the SPH Notices discloses a current holding of 46.8m shares we can't know it all, but since 21 February this year they have purchased 34m shares at an average $1.05 and sold 2.5m at an average of $1.11 for a net gain of around 31.5m shares at, say, $1.045ish.
That is (as usual for ACC) good trading, although more recently the share price has tanked below that acquisition cost. I wonder at what effective price they are now holding their whole 5% stake? Regardless, it does seem a good sign that they have reached the disclosure threshold and are on the Register. Similarly, for ACC to sell now would definitely show a lack of confidence.
Need to wait now to see how the 30 June Financial Statements are, when available. That is a short timeframe post the Challenger settlement but the quantum of provisioning for MV lending losses will be interesting as a guide to how it is out there.
They can keep it for the long run. Once buying drying up stock prices may come down to around 0.90. Besides there's an uncertainty in the financial sector. If unemployment rate rise savings will drop further. Demand for assets also will drop. Outlook for global banking sector is not that good given the mountain of debt levels and all-time high asset prices.
Pike River didn't go well ...
https://www.parliament.nz/en/documen...31121_00000003