schovald
08 Feb 2018
Re: Questor Write Up In Todays telegraph Thanks, but I have been blocked by the Telegraph paywall and am personally unable to cross this hurdle due to being a life-long Guardian reader ...
Christo6
08 Feb 2018
Questor Write Up In Todays telegraph Good article by Questor to day. I am a big fan of this trust and the discount is very tempting.ATB
Stepenwolf
02 Nov 2017
Re: Sloane Ranger! They're up around 4.5% in two days but take the pooint that they are a long term play and the discount is attractive
Windsor Buffet
01 Nov 2017
Re: Sloane Ranger! As long as you're prepared to hold for reasonable period (2 -5 years) you'll have no problems with this one. A discount of ca. 20% is good value for this stock as the current investment managers are well proven. I can't ever see this trading anywhere close to NAV due to the Cayser factor (they control just under half of the shares) but as long as they keep investing diligently (no one gets it right all the time) we'll see a lot more Sloane Clubs, Park Holidays etc days when assets are realised for well above their generally conservative published asset values.
divvent argie
01 Nov 2017
Re: Sloane Ranger! Thanks for the heads up. Lets hope it keeps rising as I'm under water h
Windsor Buffet
01 Nov 2017
Re: Sloane Ranger! It's Caledonia that reduced its stake in Polar Capital not the other way round. they've been reducing their stake for a while now and Polar has been another fantastic investment for the team. I wouldn't hold your breath waiting for any share buybacks though, the Cayzer factor is complicated and basically an inhibitor on buy backs. The bounce today is IMO down to selling another unquoted asset, The Sloane Club, at well above recent NAV. 6 or 7 years ago while looking for accommodation for a few nights in London I checked out the Club in the forlorn hope that there might be some sort of shareholder discount (there wasn't). What I saw, from an accommodation perspective, was a throwback to the 60s/70s type hotel with no en suite facilities and quite basic rooms. Presumably the needed investment has been made, the margins boosted (it was about £80 a night IIRC) and the place has been sold on realising the value of both the ongoing business and the underlying real estate. Well done to Will Wyatt and the team, again.
divvent argie
01 Nov 2017
Re: Sloane Ranger! Polar Capital sell 0.4% of the company and the sp goes up 2%. I wonder who bought those? Maybe the buy back has begu
foglight
31 Oct 2017
Re: Sloane Ranger! Yes, looks a good deal and is further evidence that they may have more undervalued unlisted assets. (sp 2645p)
Stepenwolf
31 Oct 2017
Re: Sloane Ranger! Maybe they should buy back some shares so the 18.5% discount can be narrowed ?
TX2
31 Oct 2017
Sloane Ranger! Always difficult to decide on when to sell a privately held asset ;but Caledonia seem to have got a very full price for the Sloane Club based on likely profit potential & growth of property value.Interesting to see what they do with the cash......
Stepenwolf
02 Oct 2017
Re: Treading Water Thanks for taking the time to hold my hand on this one Mr Buffet 
I have just bought a lump of these for me and three kids so intend to hold for the long term.
Windsor Buffet
01 Oct 2017
Re: Treading Water 18% is a wide discount by recent standards but not by historical standards. Remember the fund contains unquoted investments (where the NAV is subject to change quite quickly), and funds that invest in unquoted investments, and you have the huge Cayzer family block which inhibits normal discount control mechanisms (buybacks). Add to that the fact that the cross shareholding with Sofina is being untangled (see resent RNSs) resulting in a fair bit of selling these last few months then we may be at a point where it would be worthwhile topping up but I won't be for now. Best of luck PS I've held these for 15 years.
Stepenwolf
29 Sep 2017
Re: Treading Water With an 18.5% discount and 2% yield, they do seem to be a "bargain" - am I naive ?
Windsor Buffet
28 Sep 2017
Re: Treading Water There's been a general broadening of discounts/narrowing of premiums in the IT sector for a while now. Investors getting a little nervous with market levels. Couple that with the Cayzer factor which IMO also pretty much prevents the discount disappearing on this trust and you get where we are. The NAV progress continues to be excellent.
Stepenwolf
20 Sep 2017
Re: Treading Water I mean last 3 months
