Is anyone on this? Steady uptrend, a pretty upbeat market release. I like these sorts of products, very consistent and something people do maintain through financial hardship / downturns.
Is anyone on this? Steady uptrend, a pretty upbeat market release. I like these sorts of products, very consistent and something people do maintain through financial hardship / downturns.
Completely agree with SKC on FIG.Yes I have looked at them and traded their news several times. It's certainly in a strong growth phase and enjoying quite a lot of momentum (both share price and operationally speaking).
However, with a stock like this I think you need to think of the future and discount it back... What does steady state look like down the track? How big can it grow to before the market stop pricing in the growth? Make that judgement, discount it back to the current share price and see if you can actually still make money out of it. Sometimes you will find the market price in so much growth that, even when the growth does eventuate, there is no room for further share price appreciation.
This may or may not be the case for FIG.
FIG was looking cheap last Wednesday and got cheaper on Thursday and then got hammered on Friday, The banking RC is going to have a look at them or the company they are buying, St Andrews Insurance, its a bit of a mystery and so the market is pricing it as an unknown negative.
FOR - Forager Aust Shares Fund holds a large position in FIG thus the FOR SP is also taking a hit, some deep value i think.
Gees. I thought today's price hit the bottmI suspect the view of the market is that FIG will likely face punitive penalties and also lose a significant part of their customer base. Unlike the banks, where most people will remain customers despite the criminality, with insurers like FIG, they will lose clients in droves.
I suspect its not got to the bottom yet!
Ha ha. Dont worry. It is all that we understand. May be So Cynical tell the bottom level of his tipping ( sorry SC for the pun)It may have, I dont follow FIG and havent done any research. I was more thinking aloud in response to your question and reflecting the 'noise' I have been hearing about FIG.
thanks, SC and GalumayUnder 10c today was a surprise, i figured all the sellers were done, the insurance lines that they have decided to stop selling were only 15% of their revenue anyway so i just cant see how this further fall is in anyway justified, the SP punishment is way way over done.
The worst the RC did to FIG was expose that they sold life insurance to a young man with down syndrome, its all way over done, hardly measures up to selling life insurance to dead people as AMP did.
Yes SCI also found that announcement confusing, i suppose because the shares have come out of escrow and can now be sold, thus a change in substantial holding - i note that Forager funds has not been selling - or averaging down, FOR owns about 11% not sure what to make of that?
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