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Messages - gcr

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706
Off topic / Re: Live chat
« on: May 15, 2015, 06:44:41 pm »
I don't know how many people read through the sens notifications out of the JSE daily - I tend to read extensively.
Ryan Otto of Ellies has taken many zero cost collars and many of them have ended up with what I think is a cost to him as the strike price and the execution price are a mismatch. Not sure how he is paying off these losses but I see many of these zero cost collars were "pursuant to a pledge and securities loan arrangement" Do we have a bright spark on this forum who can explain these zero cost collars and whether this Otto fellow is taking a bath or not. Also see that he holds some 8.57% of the companies shares Elli Salkow (the original owner now chairman) hold 29.27% and Mazi Capital - some obscure investment house hold 17.79% of Ellies
Anybody capable of throwing some light on this operation - I used to hold Ellies but got out when they were just over R 3.50 and now they are languishing at 97 cents

707
Off topic / Re: Live chat
« on: May 12, 2015, 03:03:35 pm »
Quote from: Patrick on May 12, 2015, 11:56:06 am
So now that my app developing is done for a while, what should I write about next?
How about looking at these companies that have failed fallen in to business rescue and how culpable are the directors (those on the board at time of going into rescue and the previous board members who have ducked the ship) is there no recourse against these directors to get hold of their assets if they have taken out huge salaries and or sold of shares to escape getting caught with falling share prices. Some companies are in dire straits, were privatised and now want to come back to the JSE, - Edgars, Sportsman's Warehouse, Alert Steel, Coal of Africa, Gijima,  are just some of the companies who come to mind, but there are hoards more. Really looking at it from the perspective of where the companies have remained silent on conditions within the company, been cagey, directors selling off shares and then announcing the need for business rescue or have been privatised, and where did these director end up in a business sense - got another cushy job, or retired on their pickings   

708
Shares / Re: CML
« on: May 06, 2015, 12:05:13 am »
Quote from: Orca on May 05, 2015, 07:52:01 pm
I have often been asked why I don't switch from CML to PSG over the past year so I thought I would share my reasons.

As we all know, CML has no stable mates to make comparisons to. She is purely driven by her underlying share performance mostly on the JSE. This performance is obviously geared so in a good year for the JSE, she would outperform most stocks and vice versa. As the markets overall mostly go up bar the odd crash, so will CML with her gearing. Her gearing is dependent on the growth in Assets Under Management. This growth in AUM is almost ensured by her consistently winning the top awards in Plexcrowns and Raging Bull.

PSG has been doing extremely well of late but they have a different business model. They buy shares in a few companies but to the extent that it would border on hostile takeovers.
They own a third of Capitec, half of Curro and then large portions of Zeder and Pioneer Foods.

What frightens me is should Capitec's arch rival ABIL come back with a vengeance or Curro hit a bad spot, then PSG is doomed. This is my major reason. More on this later.
Take note that PSG's Equity portfolio had a 10% decline that is in line with Coronation's results for the year. Only PSG's huge investments in the above mentioned companies kept her upward momentum.

SARS needs investors to keep stocks for at least 3 years to qualify for Capital Gains Tax so I cannot afford to hold PSG for so long due to the gamble of possible losses in the holdings they have.
CML on the other hand is good for long term as she just follows the market trend albeit geared.
Fully agree your arguments - presumably PSG are still skimming off rather ridiculous management fees. I held PSG for over 3 years but when Curro started their spending spree I sold out of PSG totally

709
Shares / Re: PPC - Buy at R17-00
« on: May 05, 2015, 10:20:58 am »
I see the PIC increased its holding in PPC and now hold just over 15%. I wonder if they are trying to increase their holdings in the open market so that they can as a substantial shareholder enforce a merger with their other cement holdings in their portfolio. I think the PIC is in a pickle with Holcim and Lafarge merging in USA and Canada

710
Shares / Re: PPC - Buy at R17-00
« on: May 04, 2015, 02:51:36 pm »
Well maybe you should also diversify into Aveng and other construction companies - they are all part and parcel of the same rowing team

711
Shares / Re: PPC - Buy at R17-00
« on: May 04, 2015, 12:21:39 pm »
Personally I would not hold PPC in my portfolio - I once held them from 2007 through to 2011 when they appeared to be the front runner in the cement industry. The PIC still hold shares in PPC as do they in Afrisam/Holcim (may have differing names these days) and the PIC would like to consolidate. PPC's plant in the western cape is not running at full capacity as there is currently an over supply in Africa and also the Chinese are putting up plants in other African countries and it won't be worthwhile or profitable for the South African operations to export into Africa anymore, so an over supply is here to stay for the foreseeable future - if the economy takes off and I mean really takes off there may be some hope for cement producers

712
Off topic / Re: Live chat
« on: May 04, 2015, 12:13:35 pm »
I think all brokers are charging these fees - I am with Nedbank and there was an explanation some time back, I will see if I can find what they said this was a result of - what I do recall is that it is taken by the all consuming government (including the VAT)

713
Shares / Re: CML
« on: May 01, 2015, 09:53:24 pm »
Coronation is a solid company and is well run - I have an order on to purchase more of their shares but it is just not dropping to my price of R 89.00 - wish I could get more at my original purchase price of R 24.98 but suppose will have to wait for cow's to fly f 8)irst

714
Shares / Re: What did you do with your TFSA?
« on: May 01, 2015, 09:49:56 pm »
Quote from: Orca on April 30, 2015, 11:23:43 am
Good choices. Not too sure about timing though. The INDI is set for a correction. UK polls in 2 weeks might not be good for EU.
If you are referring to the STXINDI why would it have a correction in itself, the counters that it tracks would all need to drop to have a substantial effect on its own price. Maybe explain your statement = Thanks

715
Shares / Re: CML
« on: April 29, 2015, 08:51:45 am »
Well I see some joker is bidding R 101.29 against offers of R 95

716
Off topic / Re: Live chat
« on: April 22, 2015, 10:41:31 pm »
Where do you stay that they have not heard of rolling black outs as opposed to fixed time black outs

717
Shares / Re: Early retirement
« on: April 21, 2015, 04:11:27 pm »
Quote from: Orca on April 21, 2015, 03:51:24 pm
Car guards? No car guards here. In fact you don't even need to lock your car or even close the windows for that matter.


Well that settles it - smash a few car windows, grabs some goodies off the seats/out the cubbyhole and then - start a cottage industry of car guards :LHST:

718
Off topic / Re: Live chat
« on: April 17, 2015, 10:09:14 am »
Quote from: Patrick on April 16, 2015, 09:34:58 pm
0 annual and holding fees, and just 0.25% commision with no minimum brokerage fee. You'll have to pay you broker to move the holding out thugh, ABSA charges R170 per share.
So there is no value switching - as I said I don't pay charges now, and there is the switching charge to another broker
Will stay as I am

719
Shares / Re: Easy Equities, any opinions?
« on: April 16, 2015, 09:34:35 pm »
Any of the Satrix type trackers where holdings are more than 10% in a single company may not be part of the TFSA. Simon Brown gave an insightful explanation of who the whole setup will function and clarified what limitation are in place. He should have his presentation up on the JSE or his own site Just One Lap by tomorrow morning
His presentation certainly made me think differently regarding this product there are some penalties associated with the product but his presentation covers all of these penalties

720
Off topic / Re: Smoking cessation.
« on: April 16, 2015, 09:15:39 pm »
Quote from: Orca on March 11, 2015, 10:13:44 pm
Any e-cigarette, patch, gum or champ users here? Give us your experience please. I have at long last successfully managed to be clean after 4 years.
Trust this is purely an enquiry and not seeking out a crutch to keep you going - after 4 years you should be fine, there is only one way to quit - resolve. Thankfully I have managed to stop for the last 25 years after smoking 60 Texan a day

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