oliver101
02 Sep 2017
Re: John Lee favourite Apologies. I didn't realise he had been much quoted here.
oliver101
02 Sep 2017
John Lee favourite I have just listened to Lord John Lee at the FT day at Kenwood House. He said this share is his favourite and he has added 18-19 times since first investing in 1999. It now represents 40% of his ISA portfolio.It looks a tad pricy to me.
Chicken Lips
02 Sep 2017
Re: (LKH) Drifting off Well they were founded in 1886. I hope this has taught them something about (citrus and other) markets and supplies, if not there is little hope for others. Earthoil a little trickier, has already been driven from Zimbabwe and now Kenya and its annulled vote? I suppose the political focus will be on Kenyas other oils, not organic cosmetics.
Triggers broom
01 Sep 2017
Re: (LKH) Drifting off LKH - Not sure I entirely agree with you. There is still a strong emphasis within Treatt's revenues on citrus derivatives and my impression is that the price of the raw material can jump around a lot as a result of things like weather and the orange greening disease. Treatt seems have pretty good market intel (their periodic newsletters are well worth reading) but it's always possible, as a trader, to miscall the market and end up long when the market falls or short when it rises.---------- Anyone who has seen Trading Places knows orange juice futures can be easily manipulated quite easily! You just need Jamie Lee Curtis in Lederhosen as a distraction!
Triggers broom
01 Sep 2017
Re: (LKH) Drifting off LKH - If Kenya becomes chaotic (not impossible) it could have a negative impact on EarthOil's ability to operate and continue exporting. Another small example of the risks faced by Treatt.-------Take your point LK about potential Kenya political instability but I expect all of our investments are subject to micro and macro risks of varying degrees and we're all looking to avoid the macros where possible.I invested in a Ukrainian iron ore pellet manufacturer (FXPO) several years ago which was doing quite nicely thank you until Vlad fancied an ice free naval base for his fleet and stomped all over the place. The SP plunged from about £3 to 15p over the next year or so but has since recovered back to parity. The macro risk in Ukraine is far higher than Kenya imho but I remain a holder of FXPO. Political 'shenanigans' in Africa are no surprise and I suspect priced in to TET already.
LK Hyman
01 Sep 2017
Re: (LKH) Drifting off Trigger,Interesting to see that the Kenyan presidential elections have been nullified because of fraud. EarthOil has a Kenyan crushing operation, albeit it's only a small part of Treatt's overall manufacturing footprint.If Kenya becomes chaotic (not impossible) it could have a negative impact on EarthOil's ability to operate and continue exporting. Another small example of the risks faced by Treatt.LKH on the flybridge
LK Hyman
01 Sep 2017
Re: (LKH) Drifting off Trigger,'Tain't farewell, m8, as I shall continue to lob in my twopennyworth on Treatt since Mrs LKH retains a small stake here ... and I find the company extremely interesting even though my own shilling is no longer on the line."I see the business being non-cyclical"Not sure I entirely agree with you. There is still a strong emphasis within Treatt's revenues on citrus derivatives and my impression is that the price of the raw material can jump around a lot as a result of things like weather and the orange greening disease. Treatt seems have pretty good market intel (their periodic newsletters are well worth reading) but it's always possible, as a trader, to miscall the market and end up long when the market falls or short when it rises.At the same time their products are almost always only a small part of a finished product, so it may be the case that their customers are less price sensitive than they might otherwise be.I still have almost a third of my shares wad in cash so it remains quite possible that I shall rejoin the share register either if there is a share price pullback or if some news makes me feel that the shares become a buy again at the current level.LKH on the flybridge
Triggers broom
31 Aug 2017
Re: (LKH) Drifting off Farewell LKH and thanks again for highlighting this little beauty .Can't bring myself to sell TET personally regardless of the upcoming risks although I may live to regret this down the line it won't be for the first or last time. TET is one of the star performers in my ISA and is likely to remain so for yonks as I see the business being non-cyclical, innovative, well run and about to expand. I don't expect much more SP growth during the transition and I certainly don't live off the divis but imho this is a gem.Holding long and strong as an investor rather than these 'trader' types such as LKH 
LK Hyman
31 Aug 2017
Re: Drifting Bronco,"First mention I can see of it!"Ah, sorry, m8, I see that I failed to mention my sale on this board. However I said this on the WPP board on 23 August:"For the same reason I've disposed of most of my Treatt, keeping a small proportion of it for old times' sake. Although Treatt has had a tremendous run ... better even than Renishaw LOL ... its price does seem to be well up with events. There must be a risk of some sort of clusterfuck given that they're undertaking pretty major capex both in Bury St E and in Florida. It won't be easy to transition from tired old sheds to gleaming new shed ... albeit they're only a few miles apart in Bury and on the same site in Florida ... even with the Pepsi hotshot on the board throwing in his twopennyworth every now and then."You'll just have to read all of my posts on whatever board they may be on in future if you want to keep up with the latest thinking ofLKH on the flybridge
Broncomaniac
31 Aug 2017
Re: Drifting Back up there matey! LKH: 'Certainly I've taken all my chips off the table'Have you sold out of Treatt?? First mention I can see of it!
Chicken Lips
31 Aug 2017
Re: Drifting LKYes I am a bit worried I am becoming a bit too attached to the Treatt. I have about a third in Treatt so dips make a difference. Think I will hold until the results however and updates on new builds. I transferred out of an ISA that was giving me .7%, so holding additional shares to date has paid off. You may be right about the near future, brexit, trade deals, trump etcI have reduced my holdings over the Summer as I was getting a bit flitty with my investing and it was costing. I also seemed to be investing in shares backed by Mr Woodford, who seems to have developed a reverse Midas feel. Stuck with Fevertree and Tristel, and got out of Astra Zen after the recent drop.
LK Hyman
31 Aug 2017
Re: Drifting Lips,"I assume this is PI's taking a profit and investing elsewhere."You're probably right, m8. Certainly I've taken all my chips off the table, though Mrs LKH has retained a few shares for old times' sake.You want to try plugging the capex in the UK and the USA into your model and hypothesising about the effect of the depreciation (and possibly rising interest rates) on the earnings per share come 2020, combined with the possibility of cost overruns which are always possible when a company tries to do two big projects at once, albeit on opposite sides of the pond.I still like Treatt a lot, but it's become very toppy.LKH on the flybridge
Chicken Lips
31 Aug 2017
Drifting Seems to be drifting lower on very very small volumes.Not quite the 4.50's of a few weeks ago, its still a 40p drop and so unaccustomed to seeing reds, not blues. Results to be posted soon so I assume this is PI's taking a profit and investing elsewhere. As I assume there will be no nasty surprises in the results seems a little odd? The SP yo-yoing a little on this incremental drift.Oddly enough makes Treatt my worst performing share for the summer, never thought I;d say that
gamesinvestor
22 Aug 2017
Re: Nice little climb pics -- before piling into Abcam this article is worth reading.[link] jumped on board ABCAM at around 8xx and I'm sitting on a quick (since March April) 35% gain.However - this article concerns me because it highlights, partly because of the acquisitions, that there is a distinct fall in Capital Turnover, EBIT Margins and ROCE over the last 3-4 years.I'm considering taking profits on this, partly because the P/E is now up at 42 and I must confess to not really knowing much about the product (few do in reality).I appreciate that the kits they sell are great for research, but the acquisitive nature of the company tells me they are stretching and reaching out for something else, possibly because the antibody kits are not going to sustain their historic growth.Games -- Just a thought - you might find your research keeps you well interested.
LK Hyman
04 Aug 2017
FT I see that Treatt has today got itself, for the first time I believe, into the FT's list of Market winners and losers. It's in the FTSE SmallCap winners group, with an impressive gain of 106% ytd.LKH on the flybridge
