veksi
04 Feb 2018
Re: AQR Fridays trade volume was 1.7m shares. AQR still has millions more to get out of.At 5% stake the volume would be 17-18m millions shares. That is not possible to exit “in and out” fashion. They wriggling to get out. Reducing by 0.1-0.2% at a time.
veksi
04 Feb 2018
Re: AQR At one point AQR shorts were over 5% of the entire share capital.It’s not feasible to exit such a short in a day. All they can do is to reduce slowly.I’m not sure any MM would give them a favourable price for exit in a day.Maybe someone can correct me, but I believe it’s actually near impossible to exit such a huge stake in one day. It takes weeks to get out of, if you do it too quickly, the price would spike back in extreme fashion. AQR can’t afford that. So, what they are doing is trying to slowly wriggle out of a trade without causing sp to spike. It’s a problem of their own making for creating such a monster trade. Any massive quick exists result in huge price swings as you can see happening when institutions sell millions of shares quickly like they did with IG index over a year ago, or Carillion recently.
Boyobach
03 Feb 2018
Re: AQR If you are certain that they stayed short at 350, then you are absolutely correct, veksi and they would indeed be fools. How do you know they remained short?
veksi
01 Feb 2018
Goldman Sachs There we go. Goldman hiked up the target price for Petrofac.That’s more likely a factor behind the drop we had this week. You need to let the big boys buy low, then they will release the rns after they bought in first. So the little boys miss the bottom, but Goldman doesn’t, they make it.
veksi
01 Feb 2018
Re: AQR Again, why do you assume AQR is playing their cards well here? Anyone short would have suffered one way or another after the shares crashed to 350p. If a shorter was in profit at 350p, they should have closed. The only people making serious gains since the crash is the long side. It made no sense to stay short after 350p like AQR did. The best closed then but fools remained short .
Boyobach
31 Jan 2018
Re: AQR If my supposition is correct, the likes of AQR etc are playing this like a well tuned fiddle, ie 'in and out' of their shorts as the volatility works in their favour. So I doubt that they are burning (which is a tough trick when you are under water anyway). Consequently, I'm assuming that the shorters covered all they needed to a good while back and got back into the game at around 570 and, whether I'm right or wrong about that, the only question is how far the sp might now get driven back down. If 520 goes.... my money would be on 470 if the pressure is turned up quick enough.
Boyobach
24 Jan 2018
Re: Certificate of Service should be se... I would have expected a positive affect on the share price with this news....The judgement apparently concerns the process rather than the merits of Mr Asfari's case, a necessary step but it does not bring clarity or closure of the Italian matter. It presumably has no bearing on the SFO investigation either. So, although good, I guess it's not especially material to PFC's sp.
Hardboy
24 Jan 2018
Re: Certificate of Service should be se... I would have expected a positive affect on the share price with this news.
Hydrogen Economy
24 Jan 2018
Re: Certificate of Service should be set as... The full release and the personal statement Mr Asfari helps clarify this Press Release 24 January 2018 BOARD STATEMENTPetrofac Limited ("Petrofac" or "the Company"
announces that it has been informed by its Group Chief Executive Ayman Asfari (Mr Asfari) that the UK High Court of Justice has today handed down a judgment that Mr Asfari was not served process in connection with the administrative sanctions made against him by the Italian National Commission for Companies and the Stock Exchange ("CONSOB", and therefore has ordered that the Certificate of Service relating thereto should be set aside and annulled.The UK High Court order will be served on CONSOB, who will have seven days following service to apply to set aside or vary the judgment. Mr Asfari continues to refute all of the charges made against him and is engaged in appeal proceedings in Italy.Rijnhard van Tets, Petrofac's Chairman, said: "The Board has supported Ayman in his defence from the outset and this decision confirms his assertion that due process was not followed. We hope that a swift conclusion will now be reached to prove that in no way did Ayman act improperly." The Board attaches a personal statement from Mr Asfari in connection with this issue.EndsPERSONAL STATEMENT BY AYMAN ASFARI"I welcome today's ruling from the High Court which confirms, as I have stated from the outset, that I was never served the CONSOB notice of charges against me, and consequently I was never given the chance to defend myself. "I have always emphatically maintained that I have done nothing wrong. Whilst I am pleased with today's decision by the UK courts, I have also commenced an appeal process in the Italian courts on both the merits and the procedure of the case, in which I have set out my defence and the evidence that supports it, and will continue to pursue vigorously the fair and swift resolution of this issue in full." Ends
Rhino1958
24 Jan 2018
Certificate of Service should be set aside and annulled. Petrofac Limited ("Petrofac" or "the Company" announces that it has been informed by its Group Chief Executive Ayman Asfari (Mr Asfari) that the UK High Court of Justice has today handed down a judgment that Mr Asfari was not served process in connection with the administrative sanctions made against him by the Italian National Commission for Companies and the Stock Exchange ("CONSOB", and therefore has ordered that the Certificate of Service relating thereto should be set aside and annulled.
veksi
23 Jan 2018
Re: AQR Agreed contrarian.Shorter got it spot on with Carillion but 100% wrong on Ocado.You can't trust them but you can be careful.With petrofac I think they've got it wrong not exiting yet. Some of them made money with initial falls, otherscam lost millions on their I'll timed gamble. I hope they burn further. There is nothing better than a short under water !
contrarianstyle
23 Jan 2018
Re: AQR theres been a lot of articles recently not to buy shares that are heavily shorted because they got it right on Carillionbut then look at Ocado yesterday. the 3rd most shorted stock ended up in a huge short squeeze and rally...
kolwezimundele
23 Jan 2018
Re: AQR Well, since I made most of my purchases in the 800p's they are not the only ones taking a bath ATM.....We can but wait. And if the SFO finally come up with nothing substantial, I'm suing. No, just wistful thinking....
Hub
23 Jan 2018
Re: AQR With around 7.5% shorts (over 0.5%) still in play, its going to be carnage for some of them if a predator drops in a takeover offer for 800p a share.Heading for 600p levels soon one hopes.At 650p level, I think it's fairly priced ahead of SFO news which might be through until Q3 2018 at the earliest.The divi in 2017 also needs factoring in to the sp progress especially as it was yielding close to 9% at one point.HUB
veksi
18 Jan 2018
Re: AQR Yes you are right in that they could have timed their trades correctly.But it’s also true that sometimes hedge funds and traders get it wrong, awefully wrong.There are numerous examples of this in the past, some funds manage to die by wrong bets. Albeit, I suspect they get it right more often. It’s well known that index funds that simply track say the Dow jones or ftse have outperformed hedge funds past many years. This means their bets go sour frequently.
