Yea had a look , isnt that a bit dodgy pumping a stock while they are selling on the other hand?
also read on the asx page they hold ttn so be interested to know what they did with there stake considering it fell 70% yesterday.
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I was at a PIE investor meeting and someone quizzed him on that holding ( about 18 months ago ) bearing in mind the mining scene was done and dusted then .... he said pretty much - we are comfortable with the investment
and in contact or regular contact with the management .... sounds like been led up the garden path by the Aussies ... but KW as you have alluded to mining services been in the too hard basket for a while now . I see AMP dumped a million shares yesterday, be ugly for PIE ( and I am in a few of the funds ) if they are still in , or in fact if they only pulled the trigger today . Who knows maybe they will see this as " deep value " and Double Up , ...brings to mind
that great quote " ballsiest move I ever saw Maverick "
Bottom line is you can't win em all and I am not bagging him , have a great deal of respect for what he and the whole team at PIE have achieved so far .
Funds down from yesterdays unit prices by....
ADF -2.99%
AECF -5.08%%
Don't have info for AGF.
So if you are in ADF on a $40k investment then down $1196
If you are n AECF on a $40K investment then down $2032
As PIE probably include TTN in their Global fund within the AU component and a smaller % invested so less impact
It's nice to know that even the best make mistakes. I benchmark my performance against them. Of course, I have a big advantage as I can liquidate relatively easily if I make a mistake.
I went to the piefunds conference in Feb where Jim Sturgess (CEO of Titan) spoke. He gave a very compelling investment case. I spoke to him personally afterwards. Perhaps I'm not a good read, but he certainly spoke confidently about future profits.
It is refreshing to see a fund manager be so open about their trading. They spend a good deal of time explaining their investment decisions and give that info away for free.
This month, they are donating their new entry fees to charity. Nice guys!
DISC:I do not own any pie funds, but do hope to get invited back to their conference next year!
Fortunately PIE had halved their investment in TTN before the hit. Im still happy having funds with them.
Not sure about the phone call message today though wishing me happy birthday!!!. Luckily i wasn't answering or acknowledging hitting 60. The Gin and frozen raspberries is being a bit kinder atm tho lol.
I see my Doctor is on the investment committee.
He did mention something about this to me a year or so ago.
I would point out that the funds are all very recent and, with the possible exception of one, only short term results are available - all drawn from a bull market.
We all make investment mistakes its part of the game