- Joined
- 2 June 2011
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I wasn't insinuating you were just trading it off the cuff and I sincerely hope you capitalise on the volatility. I have no issue with trading it short term. Just expressing my opinion that I don't like managements actions from my long term perspective.
I hope people don't buy for a long term hold simply based on the presumption that it must be a bargain because of the size of the fall.
If I was in I would want out - the only question is price - that's why I think there could be selling to come. But the turnover is huge - Interesting to see over the next few days who's in, who's out and how much is just getting shaken all about.
Thinking of buying 20k worth
I got in for 2k worth in my personal account and topped up the existing super position by almost 3x that amount lol missed all the early action but I am prepared to hold to see how this works out. As skc said at about 1.5 x EBITDA probably worth the punt. Got in at $0.66
Thinking of buying 20k worth
I got in for 2k worth in my personal account and topped up the existing super position by almost 3x that amount lol missed all the early action but I am prepared to hold to see how this works out. As skc said at about 1.5 x EBITDA probably worth the punt. Got in at $0.66
Buying some first thing tommorow
but your average insto fund manager just seems to like dumping things with a passion, often unnecessarily.
Please... don't take anything I say without researching it for yourself.
And don't forget how different the reward:risk equation is between what I am doing to what you may be doing (if you know what you are doing). I bought in low and already free carried, I watch every tick intently and it will take me no time to sell and accept a loss that's within my risk parameter. So everything I said relates only to what I am doing.
Robusta - I would definitely think very carefuly about "prepared to hold and see how this works out"... make sure you have a plan that's better than this and watch your risks/total exposure. You should stick to your knitting and invest using your own criteria (I am sure FGE in its current state fails every single one of those criteria).
Just thinking out loud on this point and trying to put myself in their shoes.
First thing obviously is size of holding – your thinking would not be parcel at X price but average price of overall position. So algo’s spreading the order would be go. The question is do you set the Algo based on time, volume or price.
The complications of size that fund managers face can be a nimble retail trader’s edge. The emphasis at the moment IMO should be on nimble.
I'm really slipping, i didn't even know FGE was in a halt
Anyway i imagine there will be some crazy volatility ahead with the amount of new stock holders on the books as of today, most new holders will be punters of one kind or another and will be keen to turn the stock over.
Some fresh opportunity's across the sector i would think, fear is contagious.
The complications of size that fund managers face can be a nimble retail trader’s edge. The emphasis at the moment IMO should be on nimble.
The other thing to remember is that for a fund manager with a few billion dollars their holding in FGE would have been little more than a rounding error. If you're time poor and running a portfolio of 50-100 shares, you're more likely to just cut and run than spend time on a position that might represent 0.1% of your portfolio. AMP owns 7% of FGE, that was about $28m. By contrast AMP has about $80b in FUM. While that's no doubt spread across lots of products/asset classes, I'm sure no one was skipping lunch because of FGE down on Alfred Street.
Sure but someone's got to be accountable somewhere along the line... I guess that explains a lot about why big instos struggle to outperform.
Anyhow... all out today at 83. The last 17c to get to $1 is going to be hard work - if it ever gets there.
Going to donate 10% of the winnings to charity this xmas.
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