By my back of envelope calculations, at current SP the P/E for the FY to Dec is likely to be < 6.7 & current P/E (July forward) is probably running at around 12. I think the problem here is that the stock has been overvalued in the past, perhaps on the back of market hype, but IMO that is no longer the case.
The price shouldn't reasonably fall any further. Unfortunately, market sentiment usually takes some time to catch up with reason and we may see a considerable undershoot before Buffet's "weighing machine" kicks in.
Ditto for the funds (VG1 & VG8) which are both trading well below NTA. It is almost as if, instead of factoring in a slight premium reflecting fund establishment costs and management, the market is instead discounting the NTA to allow for the windup of the funds and fire-sale of assets, which isn't going to happen.
Thus is the time for patience and a buying opportunity for the brave.
Ann: Portfolio Briefing and VG1/VG8 AGM Chairman's Addresses, page-8
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Last
$3.45 |
Change
0.070(2.07%) |
Mkt cap ! $888.1M | |||
| Open | High | Low | Value | Volume |
| $3.54 | $3.54 | $3.35 | $1.551M | 456.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $3.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.48 | 2530 | 1 |
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| RPL (ASX) Chart |