A post-mortem for Thorn Group Ltd
I previously bought and sold Thorn Group Ltd (ASX: TGA) shares for the 10foot portfolio. I lost about 8% of the investment or about 0.4% of capital on the transaction, but I avoided the blow up that came following the recent market announcement. I believe that the Thorn purchase was a mistake as I was too …
A qualitative look at Oliver’s Real Foods
I recently had a look at healthy food company Oliver’s Real Foods (ASX: OLI). Oliver’s operates fast-food outlets that sell only healthy and organic food. You can read my purchase thesis here but in my view it is the qualitative factors here that will prove make-or-break for this young brand. These are three key premises (‘beliefs’) that I …
Purchase #9: Oliver’s Real Food Ltd
I recently made the 9th purchase for the portfolio, Oliver’s Real Food Ltd (ASX: OLI). As with the Just Group purchase, I think the shorter thesis length is a winner and I will stick to that format here. Oliver’s has ~210m shares on issue including 2.7 million options. It has a market capitalisation of ~$46 million …
Through a Mayne Pharma, Concisely
I put 5% of the 10foot portfolio in Mayne Pharma (ASX: MYX). My purchase thesis was way too long to be useful to readers. I have created an abbreviated version here: Mayne is undervalued given its cash earning ability Performance in FY18 will provide a much clearer picture of the combined organisation’s (post Teva/Allergan portfolio acquisition) …
Purchase #7: Mayne Pharma Group Ltd
I’ve made another purchase for the 10foot portfolio, generic pharmaceutical company Mayne Pharma Group Ltd (ASX: MYX). Mayne manufactures and sells generics, consults for third parties, sells its own specialty branded drugs, and develops new formulations for existing molecules. Mayne Pharma recently had a huge step-change in its operations after the $900m acquisition of a portfolio …
Sell #2: Sold Thorn Group Ltd
I’ve sold my stake in Thorn Group Ltd (ASX: TGA). Upon careful reflection, which I hinted at recently , I’ve lost confidence in my investment in the company. It’s not so much that things have changed, more that I think I was framing the investment the wrong way when I bought. I have also tied together …
Scuttlebutt – August 2017 edition
I’m a big believer in the usefulness of scuttlebutt for investing. I think you typically can’t rely on it as it is all anecdotal, but you can use it to check that progress is happening, or to check that you’re thinking about your investment in the right way. Here are a few tidbits I’ve noted …
Purchase #6: NGE Capital Ltd
Recently I made the 6th purchase for the 10foot portfolio, a small LIC known as NGE Capital Ltd (ASX: NGE), formerly New Guinea Energy. It’s ultra-concentrated, with a market capitalisation of $18 million, and lead by an experienced manager with a solid track record. I’ve never owned an LIC of this style before, so I’m breaking …
Sell #1: Sold RNY
This is a story about a shrewd property investor who paid 3.3 cents per share for properties worth 12 cents per share and then sold said shares for 0.9 cents. I sold RNY Property Trust (ASX: RNY) at $0.09 per share on Friday 21/07, realising $124.55 after brokerage, for a loss of $410.90, or 76.4%. The …
The first broken thesis: RNY Property Trust
Hokey dokey, so, today ticked off two dubious ‘first-evers’ in investing for me: First time I held a company that fell 70% in a day. First time I held a company that fell 70%. Not the kind of boxes you want to be ticking. RNY Property Trust (ASX: RNY) went tits up, slipped, and fell off …
