AFF Member Stock Discussion

cove

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On Friday we reviewed our work shares that we have to cover our accrued long service leave and annual leave.
It was quite a surprise to be so far ahead as we don’t look too often. Ophir has been a big part of the surplus this year and the rest of the portfolio has performed well.
 

cove

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Secos has secured more Woolworths stores to sell their biodegradable bags they manufacture. We are looking forward to see if they can make a net profit when their annual figures get released.
 

cove

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Two in one day had us bidding for African gold explorer ORR and internet developer Pentanet which is 5GG.
Have a Superloop share issue and need to do a dividend re-investment for Ophir which is OPH.
 

cove

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Did get an allocation of WAR units that Wilson has issued. Used Sequoia for that one as they had firm stock. We have some WAM shares from when they took over a company.
Should have bought Sequoia shares as they have gone up.
Euroz shares went up a lot as the staff get EZL shares as part of their remuneration packages.
Started thinking about selling CBA shares as they are on a PE of more than 20.
Meanwhile we were trying to buy 4 Toyota Camry Hybrids for Qld and NSW. That is harder to do than buying shares.
 
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Mr_Orange

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Was going to ask last night how long the bull run by CBA could last. Guess I had the answer today.

Profit taking?

They are not going to carry on up in a straight line but the big banks (internationally) have a way to go.....
 

cove

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Many Australiians hold bank shares and to be honest the idea of if you cannot beat them you may as well join them has applied. We never really expected banks to rally so far and so fast. The rally in house prices has certainly helped reduce banks losses from borrowers who are defaulting on their home mortgages so those loss provisions are being unwound.
Banks have been cutting branches out and in our area we would have to go about 12 kms to find an open ANZ branch. This cost cutting and the unwinding of loss provisions should boost profit reports by the major banks into next year.
We have been lucky that our Westpac branch is still down the street from our work office. We have worked with all of our customers to not pay by cheque so we are now very close to never having to visit that branch. That change makes banks much more profitable as electronic payments cost is close to zero.
 

Bodie

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I had to bank a cheque the other day, went to bank and they said you can deposit it taking photo on bank app. I had other things to do at shopping centre and said they are talking themselves out of job. They have staff trying to get you to use atms. I was at commonweath bank at king george square in brisbane - they dont even have teller anymore as we know today - just about 8 atms inside and outside branch. Want teller service you have to sit and wait and they are right beside you doing tranactions and the money goes into a cash machine. Very weird set up.
 

cove

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My worst decision this financial year was selling MIN @$19 thinking we could get them back @$15. That was a real ooops moment.
We now have more shares than frequent flyer points and miles despite two runs to Sydney and one to Adelaide to get back to travelling.
 

cove

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In the US their largest banks had sellers this past week as stories swirled around when interest rates are going to jump.
Our Australian banks may get some more sellers this week.
 

Dr Ralph

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Any thoughts on the WAM Strategic Value Limited (ASX: WAR) float?
I was supposedly part of the priority offer as I hold other shares with Wilson Asset Management. I applied well before the deadline but today found I had received a refund for part of my payment. I ended up with around 70% of what I had asked for.
 

Mr_Orange

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I was supposedly part of the priority offer as I hold other shares with Wilson Asset Management. I applied well before the deadline but today found I had received a refund for part of my payment. I ended up with around 70% of what I had asked for.

I received just under 87% of what I put in for.
 

cove

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Ophir OPH went for a run this week as they will be doing a good end of the month entitlement to a distribution in cash or more units.
At tonights close it isn’t a buy.

With WAR we had firm broker stock so we got them. I thought the broker could do with the commission rather than go direct and chance an allocation cut back.

Almost the end of the year so we are watching out for tax sellers to give us opportunities.
 

rogerkambah

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Ophir OPH went for a run this week as they will be doing a good end of the month entitlement to a distribution in cash or more units.
At tonights close it isn’t a buy.

With WAR we had firm broker stock so we got them. I thought the broker could do with the commission rather than go direct and chance an allocation cut back.

Almost the end of the year so we are watching out for tax sellers to give us opportunities.
I've been looking around on their website and also at their releases to the ASX but can't get a real handle on what their distributions actually are. Can you say what previous distributions have been, and if they are 100% franked.
Maybe I haven't been looking in the right places.
TIA.
 

cove

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@rogerkambah this is the first one for OPH so you will not find anything previously. We invested in four of their unlisted funds and they have been building higher net asset positions often without selling the stocks that they have picked.
We get to see Ophir management and that is always interesting. To invest in their latest fund you need to be a “sophisticated investor“ under ASIC rules confirmed by your accountant and the minimum investment is substantial.Their newish fund is Ophir Global High Conviction Fund and their other funds have closed to new investors.

Back at this new float WAR by Wilson we just want to watch with our holding. It could take a while so patience is a virtue. They are scheduled to list at the end of this week.
 
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cove

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@rogerkambah yesterday OPH announced a 36.36 cent distribution. We are unsure if the unlisted funds will have to consider doing distributions. We like to think these funds can grow faster without distributions So we went for re-investment rather than getting a pile of cash.
Separately it looks like Cash Converters are going to be a more regular dividend payer. We heard that their business was tracking ok.
 

cove

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This morning Macquarie upgraded Resimac in their report. @Mr_Orange we predicted this would happen. That code is RMC. We have a high regard for the CEO as he knows which way is up.....
 

Dave G

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Milton also went on a nice run as a result of the impending merger with Soul Patison...
Including a couple of nice, franked divvies coming up :)
VXR continues to go strength to Strength with BB almost on board. Entitlement offer out now :)
 

cove

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Yes the SOL/Milton merger has been well received. It is always great to have a stock surge @Dave G.
We have SOL which is Soul and Brickworks which is BKW. They have cross holdings but our dream of a takeover never materialised.
This week we had a visit from a senior Westpac manager. They had to race to rejig their overseas processing due to Covid-19. We wondered why they were so slow doing stuff that mattered.
Yes franked dividends are rolling in as we approach the end of the financial year.
We haven’t sold much this year and the ASX index is at an all time high.
At the office we ran short of US dollars so we averaged 0.7709 instead of 0.78 this month as we pay for shipments.
 
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