In_the_dark_yet_again
10 Jan 2020
should I staay or should I go LSE:SEC Here we are again, nearly 18 months later. Finally some NAV movement but the SP still very sluggish. 285 NAV vs 238 SP = 16.5% discount. It’s too wide… but their costs/overheads/charges are too high, there is no buy back program. If there is a non-exec director of SEC reading this, tell them to either get busy with a buyback or wind it up. Where is Elliott Investors when they are needed? Management lining their own pockets for doing very little at the expense of the shareholders. It should be illegal… Regards, ITDYA, but, yes, I do know; Turkeys do not vote for Thanksgiving or Xmas.
In_the_dark_yet_again
18 Jul 2018
should I staay or should I go Well it’s sort of did fine for a year but last few months it’s been a dog even relative to the small cap index which hasn’t seen the same joy as other parts of the market. Small cap because, given the quoted investment strategy, it’s not really the big boys they’re looking at; they state they approach it like a private equity company. Am I on my own here or does anyone out there have any input? Me, thinking about calling time here - management fees are way to high for a trust that isn’t significantly outperforming and it’s not like that end of the market has been stagnant with no opportunities yet they’ve just been sitting on their hands. Discount is still around 15% so can’t blame it on that. image.png1152x764 81.1 KB Any thoughts anyone? Regards, ITDYA
II Editor
20 Nov 2017
NEW ARTICLE: Funds and stocks to buy as UK interest rates rise "The greatest financial experiment in history of ultra-loose monetary policy in the form of record low interest rates and quantitative easing is drawing to a close.But rather than producing a big bang, the journey towards tighter monetary policy ..."[link]
In the dark yet again
02 Mar 2017
Re: should I stay or should I go Early days as a couple of pennies can disappear pretty quickly but, for once, maybe I did just time something correctly.Here's hoping...Regards,ITDYA
jsan22
02 Mar 2017
Re: should I stay or should I go yes, and I'm glad for example , that I didn't sell EDIN a few years ago when Woodford left, and his replacement (former 2nd in command) caned the performance for the next two years.On balance, with SEC, I've decided to hold, as it's only couple of percent of PF
In the dark yet again
01 Mar 2017
Re: should I stay or should I go "Widdowson himself cannot do so contractually".....although he might be asked informally what he thinks about this or that over a coffee or a beer... and maybe a few of his ideas for the areas with which he is directly involved might drift around also.Dunno, risky but at 15% discount I can (and just have) take a punt on a few - who knows, those left behind might have watched, learned and be just as smart.Regards,ITDYA
jsan22
20 Feb 2017
Re: should I stay or should I go today's news item is interesting, sounds like Widdowson's new employers Harwood might be involved in running SEC, but Widdowson himself cannot do so contractually.
holland44
09 Feb 2017
Re: should I stay or should I go Stuart Widdowson is joining a quality team at Harwood Capital, led by Christopher Mills, who runs NAS and OIG, two other trusts that specialise in private-equity-style investment in small companies in the US and UK.Citywire reported on 7 Feb that the new business will be chaired by Widdowson's former boss Ian Armitage, former chief executive of HG Capital, another well-thought-of private equity trust.
jsan22
08 Feb 2017
Re: should I staay or should I go he is joining up with his old mucker from a previous life - they are going to run a fund together - have a google
sage in the hills
08 Feb 2017
Re: Trading At 15% Discount dazurtrader ......Would you really need to know more information though ?? .....SAGE
sage in the hills
08 Feb 2017
Re: should I staay or should I go ..... but WHY has he quit ? ...... ....... under WHAT circumstances ? .......SAGE
dazurtrader
08 Feb 2017
Trading At 15% Discount Large drops as a result of 'bad news' can often be buying opportunities. We won't know if this really is 'bad' news for some months. It is not a complete change of management as it an assistant who is taking over, so could be no great changes and he may even improve things. The big SP drop has probably taken place, so I am holding. If I had the nerve I might even add some more. No sense in selling now. IMO.
jsan22
08 Feb 2017
should I staay or should I go So, the main man has upped and gone, anyone selling up or holding on (can't see many buying)?think I will move my small holding elsewhere, just based on the fact that if I was buying a UK smaller companies fund right now, would I buy the one where the long-term lead manager has just quit?
sage in the hills
07 Feb 2017
Re: RNS ... whats this all about ? ...... a bit volatile today, but never mind....SAGE
sage in the hills
07 Feb 2017
Re: RNS ... whats this all about ? ...... aha ...... life goes on ..... calm is restored ..... sp nearly restoredSAGE
