http://www.nzherald.co.nz/business/n...ectid=12028460
a2 milk faces tougher road ahead
totally agree with the article
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http://www.nzherald.co.nz/business/n...ectid=12028460
a2 milk faces tougher road ahead
totally agree with the article
reckon we are still years away from that though
The article (actually PR release by Devon) is certainly noteworthy and all ATM shareholders should seriously consider the issues raised - but keep some perspective and balance on what it really means for ATM.
Question - why would Devon be so generous to share their negative research with the market?
Being ever cynical, one has to assume that Devon has either sold out of ATM or shorted the stock - which is their right and prerogative.
To give balance to the article, Devon must disclose its interest however - is it a shareholder or has it shorted the stock?
One has to be cynical these days with fund managers - we all saw Milford, the doyen of the NZ fund management industry sold out of DIL and then, spent a fair bit of time badmouthing the company in print and on air. Rumours swept the market at one stage that Milford was actually looking to buy back when the share price was crunched down to below $3.00 at one stage. Milford denied the rumours. Readers would note that Diligent subsequently was sold for $7.40.
Footnote : https://devonfunds.co.nz/sites/defau...y%20Report.pdf
Devon Alpha fund's poor performance - obviously had too much PEB and no (not enough) ATM?
Devon, yeah, nah, ATM let's do this.PS-Harbour Assett Management have upped their stake, and I give them a whole heap more credence than Devon.
One of the interesting aspects of the article is that it states that with the 'size and seriousness of Nestle as a global company, it is unlikely to break basic patent law', they have completely neglected the basic trademark issue of Atwo vs A2 issue. Again Nestle are not a tinpot outfit and know what they are doing, but surely are spoiling for a fight on this one??
Harbour asset management are one of the biggest shareholders in ATM and their performance for the year greatly exceeds Devon for the year to 31 March 2018.
Looking further back Devon's performance is most underwhelming compared to Harbour for any comparison you care to make, 2, 3, or 5 years
Which fund managers view would you trust ?
exactly my point is harbours outperformance intirely due to overweight position in a2 ?