LK Hyman
16 Dec 2015
Re: Re: xT,"AA is on my radar"It's not on my radar. Just look what a mess that clown Zuma has made of South Africa over the Finance Minister business. And a nuclear power station? In South Africa? Built by Russians?What IS he thinking?You just have to look at a photo of the feller to just know he's a wrong 'un.LKH on the flybridge whereas Sam off of RIO looks nice and trustworth
xTitanic
16 Dec 2015
Re: Re: LKH - pleased you got out with at least a bit.I managed to persuade my son to cash in an ISA at £12 when China started to go nipples up, albeit at a slight loss.Now, emotions aside, how about coming back?. Bit tooo early maybe but AA is on my radar
LK Hyman
16 Dec 2015
Re: Re: Altair5,"Could you explain please"The whole sorry saga of AAL/Mondi is spelled out in my posts on the Mondi board. I recommend that you take a look at the unwinding tragedy spelled out thereon. In summary, though, when AAL demerged Mondi, Cynthia forced me (a Briton of the clay) to take South African Mondi Ltd shares instead of UK Mondi plc shares. I was never able to cash the pathetic divis because they came in what passes for money in South Africa. Eventually they (supposedly) bought my tiny stake out with another cheque in South African ackers which bounced when I took it to Barclays because Zuma's boys had (according to Barclays) made it impossible to turn ackers into real money a couple of days BEFORE Mondi sent me the cheque. So they knew FULL WELL that I'd never get my dues.And, to add insult to injury, the Mondi directors gave themselves Mondi plc shares (which get divis in proper money) rather than Mondi Ltd shares despite the fact that most of 'em hail from South Africa ffs, so Mondi Ltd shares would have been appropriate for them, if not for me.Ain't life grand?Anyhoo, ironically, Cynthia in fact did me a BIG favour via her shabby treatment of LK Hyman (or, actually, of Mrs LKH, because the Mondi Ltd shares were in her name) because I immediately dumped my entire AAL stake in a fit of rage at what she had so disgracefully done.And, ever since then, AAL have spiralled downwards towards the hard deck, which is some consolation (for me, if not for AAL shareholders who kept their shares) for what Cynthia did over the Mondi demerger.LKH on the flybridge
Altair5
15 Dec 2015
Re: Re: You mentioned a few days back you weren't happy with the disposal of Mondi.Could you explain please. Ive a small holding in Anglo (damm sight smaller now !!) and sold my small chunk of Mond at the time it was split off.I only really bought AAL for its gold content,which shows how long ago that was !!See Mondi has also suffered 'cause of its SA conections,bring back Nelson perhaps LOL ?
LK Hyman
15 Dec 2015
Re: Jonnie,"How wrong can you be!!"They had/have far too high a proportion of their assets in South Africa. That Zuma feller is a total chump, innit though? Then they made a big mistake putting the Cynthia bird in charge of the shop (until they fired her). She made a complete horlicks of the iron ore mine out Brazil way. The Pilbara out Oz way is where one wants to dig up iron ore (if one wants to dig it up anywhere at the moment, not Brazil, which is miles away from anyone still sufficiently deluded to want to buy iron ore in the first place.Cutifani doesn't strike me as the sharpest knife in the drawer either.LKH on the flybridge prefers BLT and, especially, RIO to AA
jonnie parker
12 Dec 2015
Well I am now out. Bought in at £18 and £15 and have watched them fall all the way!! I held in the belief that :-1) It was a ftse100 mining company2) The world population is only growing and resources are scarce3) The consumerism of the world is only increasing4) The downward trend would be reversed.How wrong can you be!!
indolent
10 Dec 2015
Re: Lowest level in15 years LKH"I should have sold the lot a nano second after they arrived in my account. " Mmmm, I'm familiar with that feeling!The second high level and relatively free thinking minister in the ANC Government has been shuffled out of the way in as many months. According to their media to be replaced by someone less experienced and more pliable. The first swap-out was the mining minster, now it's the finance minister. [link]
Shotry
09 Dec 2015
Re: long Closed Anto for 16. No other reason than it's non-core. Looks good for further rises.
Shotry
09 Dec 2015
Re: long Closed AAL for 320. 32p or so profit. Looks like it wants to run higher
LK Hyman
09 Dec 2015
Re: Lowest level in15 years Indo,"Militant unions who regularly court violent confrontation."It was the sight of that clown Juju Malema and the big bonobo (I forget which one) singing "Bring me my machine gun" which convinced me to have nothing whatsoever to do with any company which is heavily exposed to South Africa. Oh, and the sight of all those miners swinging their knobkerris and Eskom's utter failure on the leccy front was further grist to the "Avoid South African exposure" theme.Unfortunately I forgot that lesson when BLT sicked South32 onto me. I should have sold the lot a nano second after they arrived in my account. Ah well, lesson learned.LKH on the flybridge
Shotry
09 Dec 2015
long 288 here and 428 anto.
indolent
08 Dec 2015
Re: Lowest level in15 years Yet another interesting post from you LKH and a bit of historical context is always appreciated. Well, by me anyway. This bit fascinates me though:"This is a tragedy for AAL employees and augurs very badly for the future of South Africa in particular where, presumably, many of the personnel cuts will fall"An inept, self-serving and fractious socialist Government whose leaders spend mind boggling amounts of time in China rather than fixing increasingly serious problems in SA. Militant unions who regularly court violent confrontation. In this environment Lonmin, for example, appears to be relying on voluntary redundancy and yet they've got shafts to close. I cannot see large scale redundancies and layoffs being implemented in a useful timeframe in that environment.
LK Hyman
08 Dec 2015
Re: Lowest level in15 years Yee Wo,"On this basis many of the employees involved will only have to change employer and should remain employed."I hope, for their sakes, that you are right. You may well be, though it is a bit odd to trumpet that one is getting rid of 85,000 people when, in fact, one is merely selling the businesses. But perhaps it makes it looks as if more "robust" action is being taken if the focus is on the number of people leaving the AAL payroll.It's hard to think of a worse time, from AAL shareholders' perspective, to be selling businesses!LKH on the flybridge
Yee Wo
08 Dec 2015
Re: Lowest level in15 years "This is a tragedy for AAL employees and augurs very badly for the future of South Africa in particular where, presumably, many of the personnel cuts will fall."Blimey LKH this is somber-indeed for you! I understand many of the mining businesses will be sold as whole operational units. On this basis many of the employees involved will only have to change employer and should remain employed. The opportunity to de-risk Anglo and perhaps move some of the portfolio away from political volatility will also be a good thing over time. [link] on the flybridge, contemplating buying some AAL in 2016……..
Sprocket60
08 Dec 2015
Welcome news At least this has cleared the air regarding were the Company stands. Hopefully, all the big funds have sold out/reduced their holdings. Looks a decent price to get back into, but will leave until Monday to see if further selling continues. Poor earning are forecast for 15-16, so it will not be heading North ( not big time) for a while. Commodity prices will be staying low so earning will keep this one down for the foreseeable...
