Boring_Bernie
27 Jul 2018
Broke £45 today Well, with the Interims out today, I finally sold out. The Interims were a solid set of results, and the talk seems to be of H2 being better than H1, but Rightmove looks increasingly like a mature business who will continue to do well, but, given the anticipated growth rates I think it’s now overvalued, so, after all these years, it’s time to find another home ( pun intended ) for the small wad that I had in Rightmove. BB
vitruvius
30 May 2018
Re: NEW ARTICLE: Stockwatch: A classic matur... no it is the beginning of the end!
Boring Bernie
24 Feb 2018
Re: Results Re. "Shorted at around £5"indeed people were, and even at today's prices, it'd be a brave, well probably foolish man who shorted Rightmove. It commands a premium price because of it's position in the market.Those who were shorting back then were ignoring the fact that, for a company growing like we were ( at about 30% per annum), the sp was actually cheapThe following data will doubtless not render very well when I post it and look a right mess, but back in 2010, we had a PEG ratio of about 0.7, and now we're sat on about 1.9. I doubt Rightmove will disappoint in the next few years, but if growth continues to slow, then something will eventually give.Year EPS % growth 2017 163.3 14.4 2016 142.8 17.6 2015 121.4 21.0 2014 100.3 23.8 2013 081.0 33.9 2012 060.5 20.3 2011 050.3 26.4 2010 039.8 30.5 2009 030.5 28.2 2008 023.8 Year SP* P/E PEG2017 4482 27.4 1.92016 3880 27.2 1.52015 3839 31.6 1.52014 2922 29.1 1.22013 2605 32.2 0.92012 1609 26.6 1.32011 1333 26.5 1.02010 0809 20.3 0.72009 0567 18.6 0.72008 SP* share price as of 1st Feb in the year when the results were announced, so, for example, 1st Feb 2018 for the year just reported onA sp of above around £53 in 2018 would probably see me selling the final third of my hold
forddrive
23 Feb 2018
Re: Results Look back a few years and Rightmove was being shorted at around £5!!
Boring Bernie
23 Feb 2018
Results Well, these were good, but not really any better than I expected, so, with growth of about 14%, and a pe of about 27,I continue to think we're moderately overvalued, so sold the second third of my holding today at ~£44.50.
forddrive
20 Dec 2017
Re: Broke £45 today ...and this is the share that some wanted to "short" when it was around £5 10-12 years ago!!
Boring Bernie
19 Dec 2017
Broke £45 today Well, after many years, I'm finding it very hard to justify staying fully invested here so, at just over £45 today, I sold a third of my holding.With growth in profits likely to be in the order of 10 to 15% going forward ( with eps probably a bit higher than that ), Rightmove, in my mind at least, has moved from being fully valued, to being marginally over-valued.I'd expect the sp to pretty much follow growth in earnings, so wouldn't be surprised to see the sp over £50 within six months, but as far as risk / reward goes, I'm feeling more comfortable with a few less shares here.I think the results are due some time in February, at which point it'll be clearer as to whether or not growth is going to "permanently" slow to mid teens over the next two or three years.
II Editor
19 Sep 2017
NEW ARTICLE: Stockwatch: A classic mature bull market play "Does a 24% drop in this AIM-listed "disruptive" estate agency LSE
URPurplebricks represent a buying opportunity or reversal to a downtrend?At about 400p after a 514p peak, twice reached in July and August, the stock needs fresh support to ..."[link]
veksi
09 Feb 2017
Re: Is this the most overrrated stock on the... the share will keep going up due to share buy backs.Why dont others do the same?Its seems to be an eternal buy back with target in the unknown. That being said, I'm not in, too late for me, but for holders it's likely to keep going up.
nodebt
01 Sep 2016
Re: Is this the most overrrated stock on... We have different investment strategies. You seem a long termer. I appreciate the non linearity of shares. I have already exited my position in right move with a minor profit in the hundreds, not least so I can focus on other matters for time being. I'll possibly come back. I'm also monitoring Unilever to short.As for Sirius, the net asset value (with much caution built in) is worth substantially more than the debt.
Boring Bernie
01 Sep 2016
Re: Is this the most overrrated stock on... Fair enoughYou'll need balls of steel to short this down to ( say ) £35 or below though.Good luck with Siriius btw, it's an exciting project to be involved in ( i'm not like ) but, when they've progressed the debt financing a bit further, keep an eye on the rate that the debt is taken out at.Debt of 2.6 billion USD is a fair bit more than the existing market cap over th
nodebt
31 Aug 2016
Re: Is this the most overrrated stock on... "My initial target is the trading band 4000 to 4050." The key phrase you read over was "initial". My view is there will be bumps on the way but rightmove will go substantially lower.You're right, rightmove is more inflated than it was when I held the sell view before. Like the housing market itself, like the mortgage backed securities bubble, or any bubble, it often takes a while longer than it should for everyone to see common sense, but when it does so it tends to do so quickly, as everybody races for the exit.
nodebt
24 Aug 2016
Interesting news regarding housing market.. See [link] are several interesting news sources on the page, but the item at 943 titled "Mortgage approvals lowest since January 2015" is particularly interesting, moreso, when you look at the chart, and the low proportion of new purchases and high proportion of remortgages.The 957, 1001 and 1005 statements by other bodies are also insightful.
forddrive
23 Aug 2016
Re: Is this the most overrrated stock on... Since when has Rightmove been a small company? We bought in around £3. Not many like this one.
Boring Bernie
23 Aug 2016
Re: Is this the most overrrated stock on... You should have a good chance of hitting < £40.50 just on the usual variance so good luck with that. I'm not sure that a hoped for 5% sp drop warrants a Strong Sell but each to their own.You need to look at the numbers if you think people are holding Rightmove for the divi though, the yield's tiny.Personally I find the boards which are full of PI's extolling the virtues of small companies or bashing them are best avoided. The sp of such companies tend to gyrate as they're pumped up, possibly artificially, so those boards are full of short term traders, saying one thing, while often doing the opposite. Nothing wrong with short term trading by the way. If you're good at it, then fair play to you. I'm just lazy and, for example, Rightmove is three or four times the price it was when you thought it was going to go down. The market has quite a few companies like that, and almost all of them have quiet boards.Peace and quiet is underrated, and can also be very lucrative.
