gamesinvestor
19 Dec 2014
Re: : Games ""I've got three companies that have gone down by more than 25% in 2014""LK - your still well up on Woody :-He's got these :-CapitaDraxGSK -- (OK so have we)Rolls RoyceSanofiI'll bet my back teeth that these will be next :-Imperial innovationsAANEXTSSEGame DigitalGames -- shrinking his own fund to minimise exposure to munters!
LK Hyman
19 Dec 2014
Re: : Games Games," I've had 2 munters this year, I'm trying to avoid a 3rd."Hmmm. It depends how one defines a munter. I've got three companies that have gone down by more than 25% in 2014 ... BG, BHP, and this puppy.If someone had said to me, at the start of 2014, "LK, three of your companies will go down by more than 25% in 2014", I doubt that I would have picked those three. Fortunately I did not have a massive weighting in any of them three, so the overall damage to the wallet was not too bad when set off against those companies which rose by more than 25%.LKH on the flybridge
gamesinvestor
19 Dec 2014
Re: : Games Ivor, you are right of course, a rising tide lifts all boats.It's only when the tide goes out --- bla bla -- Warren Buffet(t)I'm interested in boats that jump up out of the water. SMIN isn't that boat I don't think.The share price is not in a bad range and it doesn't look overpriced, but the business is drifting and in many of the divisions, it's a downward drift.Games -- I've had 2 munters this year, I'm trying to avoid a 3rd.
Ivorjay
19 Dec 2014
Bye - Bye & Buy Buy Some City commentators were suggesting PB retired in Dec 2007and looking at the Smiths share price performance since, £10.50 to £10.75 over 7 years seems to confirm that !Come on BOD lets get a younger guy with Ambition & Drive this time , instead of a guy whose only real interest has been his Salary, Bonus, Dividends, Expenses and Pension contributions.Still I suppose he's got a year to prove his worth, surely the man won't Bowout being considered a failure !
Ivorjay
19 Dec 2014
PB There is God after all !This will definitely give the share price a much needed boost !
Ivorjay
18 Dec 2014
Re: : Games At these levels you should consider a buy !(Chimps or no Chimps)If the market increases even SMIN will increase.Always worth at least 18%+ of the footsie i.e. 6,350 X 18% = £11.43and then there is the 3.5 % divi
Ivorjay
16 Dec 2014
Re: : Games Unfortunately the current management are generally clueless, and just drift from one divisional disaster to another. So many different cost cutting re-orgs, wasted money on R & D, Low profit forward contracts signed etc etc........................Only saving grace at present is the divi ! & potential 'break up'A bunch of chimps could keep the Share price above £11
gamesinvestor
15 Dec 2014
Smith's businesses Not a holder of this stock, but attracted to it due to the big pull back in the share price this year. It looks reasonable value, but it's not hard to see why it's falling out of favour when you look at each business unit :-1. John Crane - The biggest division with Revenue of £941M - the revenue has declined a little over the last two years and it's heavily exposed to the oil service industry which looks like it's going to get battered in the fall out from cancelled projects in the foreseeable. High profit margins but this will fall surely.2. Smiths Medical -- 2nd biggest division with £840M in Revenue that is stable but has declined over the last 5 years from £858 to £804M - good profit margins, but despite the hoo har about aging populations and all that jazz, why is it not growing?3. Detection - 3rd business with £512M -- looks like a sound enough business but has exposure to a lot of military (government) spend which is getting tougher. This is reflected in another division that is declining from £574M five years ago to £512M today. Profit margins are wafer thin here at 4.8%4. 4th largest business with £445M and has grown nicely over 5 years from £340M but has tailed off in the last 2 years. Margins at 16% look good. The products are very application specific so it looks heavily dependent on order by order activity and no standardised products -- although I could be wrong on that front.5. Smallest division and growing from £212M to £250M - It's markets are much more domestic and broad spread than the other divisions, but still it's a small piece of the overall pie but with good profit margins at 18%.Overall, whilst it's business is pretty solid with some good barriers to entry, it's failing to grow and it's now vulnerable on some goodly percentage to a downturn in oil service sector spend. Any comments? -- LK I see you are a holder of this one and probably held it for a long time unless I'm mistaken -- are you continuing to hold this or like Weir making a change (incidentally your timing on Weir was pretty good, no?)Games
