Did he mention any names... Ift
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Price action and the fact they weren't even going to inform the market tells me nothing will come of this.
Happy to be proven wrong.
Your mate needs to pursue a new career path if he thinks someone will pay half a billion dollars plus a dividend for sky tv.
If the indicative offer during prelim discussions were anywhere near that even Sophie and bowman wouldn’t be incompetent enough to botch things by making an announcement today.
I have no idea what the indicative offer will be, but I doubt it will be more than 15% of the average share price (from the last last six months).
In all fairness, Mista Tea was on the button (more often than not) and he did predict what is now unfolding.
Good job to all current holders, hope you make a profit :).
Yes that's fair, he was definitely onto it and developed quite a following with some people around here and no doubt quite a few lurkers, very knowledgable, almost uncannily knowledgeable about Sky's business and the circumstances surrounding that.
As an investor though he ended up lacking conviction in his own analysis and sold out at a loss, which as time has gone by has been proven to be a terrible investing decision, after years of accumulating a downtrend and then freaking out and selling as soon as it looked like things were turning for the better. Which they have.
Some people did their own analysis and backed their own conviction and timing an entry, that Sky were indeed executing on their turnaround strategy, which they did do and continue to do, returning to profit and dividends to shareholders, improving EPS with buybacks, are sitting on 50+% capital gains (on paper) not including dividends paid out so far.
This takeover is unlikely to proceed imo unless the potential acquirer puts an irresistible offer on the table for shareholders, in which case the upside for shareholders would just be brought forward from what we expect will happen anyway, with the downside that the longer term future of our investment returns would be curtailed.
If TD rates remain 5%+ then a take over would not hurt so much, as I'll still be able to retire comfortably on my current holding, so long as I can pocket min $3/sp LOL.
Another thing lost on some of the previous and some current investors is the constant slagging of the Chair, the Board, the CEO and the management.
But if you put on the lens of their 'timing' of their own investing in SKT and their obvious confidence in doing so, you'll see that they were way smarter than has been given credit for. Whether or not the company gets bought out, or not, they're all well in the money.
Never slag an insiders investment in the company they work for, more-so look at the timing of their investment and ask yourself, 'why would an insider put so much of their own cash into the company right now?' 'What do they know that I don't'.
Common investment thesis is that you can't 'time the market', I say BS to that! Just look for the signs, and don't be blindsided by people who would rather heap negative sentiment on them like they're incompetent and don't have any idea what they're doing.
They do know what they're doing, they know way more than we do about the company, and they're backing it with their own money! Timing, is everything. Insider investments is a very good indicator. Insiders have a significant stake in the outcomes of SKT, it's their own money that they're investing.
Why would they do that, and why would they do that when they did it? Think about it.
So the Board and Management decided that the offer to takeover the company was sufficiently formed for them to decide to stop the buyback from the first day after the full year results announcement in August.
And yet...
Not sufficiently formed to advise ALL of the company owners that an "offer" to takeover the company had been made.
Instead saying nothing and apparently deciding that the "from time to time" wording of the 31st of March Announcement was the reason as to why the previously stated buyback was paused, and deciding that that meant they didn't have to say anything about pausing the buyback.
We are implored to invest in the sharemarket to steer us away from the over reliance on property investment in this country and we are encouraged by the spouting of the supposed requirement for listed entities to provide continuous disclosure. Time after time black and white evidence appears that confirms continuous disclosure is a crock.
Also quite bewildering is that the company secretary belatedly makes an announcement re pausing the buyback, giving the reason of a potential buyout, and decides that isn't price sensitive.
https://www.nzherald.co.nz/business/...ND6RD23JRK56E/
Fluff piece on Sophie.
Very sad news about her brother. I lost someone to cancer recently too, and understand the grief.
NZR the big deal everyone watching now. If they go co-exclusive it will clearly be cheaper than going exclusive…but not as much cheaper as Sophie and the team might like to think.
It’s a damn difficult position to be in, quite frankly.
With respect BaaBaa, 'timing the market' and what you are referring to are two totally different things. Doing what you are highlighting is buying a company at the right price and for the right reasons such as insider activity and what not. But this isn't what 'timing the market' means.
If anyone could indeed have any tiny edge timing the market, they could just get in and out of the NZ50 or SP500 at the right time, even one trade a year, and then beat those respective indexes. You'd soon have a pretty big kiwisaver fund...
Timing when to buy an individual company is a totally different matter altogether.
How long does it take to agree a price and terms…