Clarence Beaks
07 Jun 2016
Re: Very uninspiring business Man Group is a right old woofer basically I think we agree. Need the financial sector to improve really to ever see any light here - and I dont see that for quite sometime.
Warthog4
07 Jun 2016
Re: Very uninspiring business Belated response Clarence.Frankly-not with a bargepole. Down 25% in the last 12 months-half the Flagship AHL Funds under water-many others in the GLG stable ditto. SP staggers along in a stupor and is extremelysensitive to broker criticism as evidenced recently when Citi put in the boot and knackered the SP by 7% in one day.volume traded it's in the Top 20 most days and Top 10 with monotonous regularity which indicates what I do not know apart from maybe large day traders messing about with the price.Sorry to be negative but at present Man ain't cutting the mustard
Warthog4
03 Jun 2016
Business as usual Open 132.7-hopeful spurt to 137-a figure not seen for some time, but now the usual pathetic collapse as we head to towards the close even though the 250 has continued its steady climb Nearly 3.2 million shares have changed hands making it number 3 in todays rankings.This SP pattern has been happening for months to the extent of boredom making the theory of price manipulation more like pure fact.
alphatrooper
27 May 2016
Re: Very uninspiring business I am afraid I am inclined to agree. Performance update: AHL composite: -0.86%Div:-3.6%, Alpha: -1.6%; Evo: +3.7%; Dime: -0.4%GLG Alt composite: -1.59%Eur L/S: 2.4%; Eur Alpha: -0.4; UK Alpha: -0.8%; Gbl CV: -1.8%GLG LO composite: -12.71%.... holy moses!!GBL Eq: -4.7%; Japan: -17.4%; Strat Bond: 1.6%; Undervalued: -2%FRM Diversified: -4.3%Numeric composite: -1.32%Emerging: -0.1%; Gbl Core: -1.7%; US: -1%That is a total group composite of -4.26%If you ignore any flows just for a second, every single business line as a lower AuM from performance effect alone. On performance fees 3 out of the 4 AHL strategies are negative YTD... that wont mean no performance fees because they accrue and charge the performance fees on different frequencies, i.e. capture a pro rata amount on a monthly or quarterly basis, so some may have been captured so far.... but lets be frank, unless there is a mass swing around there are likely to low to no further perf fees at AHL!I am trying to work something out that maybe people could help with.... trying to work out what is the fair value price based on management fees alone. i.e. AuM * mgt fee bps per group - minus fixed costs and mgt fee only costsless tax and interestequals mgt fee EBITthe idea is if we know how to calculate that, then maybe the closer the price is to that is a good entry point to buy... the logic being that gives you book value of the share and then performance fees are only upside. Or is that crazy logic??peace outAT
Clarence Beaks
26 May 2016
Very uninspiring business Nothing really much to attract investing in EMG is there? I keep wondering if to buy some more, but I cant think why I should. Any thoughts?
II Editor
13 May 2016
NEW ARTICLE: What to do if FTSE 100 tumbles "FTSE 100, Ferrari and it's Friday tooA long, long, time ago, Fridays were generally a good day on the markets. It was always pleasant to complete the week on a high note, but this year the markets rarely meet expectations on a Friday - other than ..."[link]
Clarence Beaks
12 May 2016
Re: Today's Slump It's not exactly growing that is for sure!
ellamark
11 May 2016
Re: Today's Slump Sold last week at 150 ish, had held on and held on but finally dawned that this stock was going nowhere but lower!
Clarence Beaks
11 May 2016
Re: crikey moses! Clear out up top?
alphatrooper
09 May 2016
crikey moses! holy moly! I reckon the root cause of this is back to underlying performance guys.... Group composite is down over 5% this week 1. AHL - now negative at a total level: -0.09%... Diversified down -2%!2. GLG Alt down -2.14%3. GLG Long Only down -15.48%..... guys Japan alone is down 20% and global equity is down 7.3%.... that represents 20% of the sample group AuM!! 4. FRM down -4.4%5. Numeric down -2.33% Global down -2.9% and US down -2.5%That means: 1. Not a single business group has positive performance2. All of the performance fee groups are now negative for the year and surely very few performance fees now eligible at this performance. 3. The Management fees are now reduced as well... in particular those big hits on GLG LO covering nearly 20% of AuM.Shocking!!Where from here?
Warthog4
09 May 2016
Re: Today's Slump This is what EMG had to say on the subject"The share price move today is largely down to the note from Citi and the change in their rating on our stock. Our share price has also been impacted by the wider market and sector more generally. Aberdeen announced their results this week and their share price had declined around 13% in two days.As of mid-April, the share price for most of our UK peers were also down for the YTD, which included Jupiter (down around 8%), Schroders (down around 12%) and Henderson (down around 17%). Aberdeen is also now down for the YTD, as I mentioned above.We are covered by a number of different analysts (just over 20 in total). We still have a number of buy ratings (BAML, Shore, UBS, Cenkos) and neutral ratings (RBC, Goldmans JPMC). Citi and Numis are our only sell ratings."
Clarence Beaks
06 May 2016
Re: Today's Slump Sadly EMG is a very disappointing stock with little promise.
Windsor Buffet
06 May 2016
Re: Today's Slump Citigroup issued a 'downbeat' note...
Ashover
06 May 2016
Re: Today's Slump What is more annoying is that they seems to be no news on why a 10% drop in a morning has happened.
Our Haven
06 May 2016
Today's Slump Was thinking of closing my position but now will hang on to see if this dead cat bounces then out I think, enough is enough.
