VG1 buyback a joke?, page-10

I don’t understand all the machinations behind why they keep doing the buyback at higher prices but ultimately I suspect it won’t matter so much. As much as I feel the frustration, the one thing for certain is they aren’t bidding up the price to line Luciano’s pockets.

So what are the agitators going to do now? Both NTA and share price are at 52 week highs (and similarly for RG8!). Will they wait now for the next share price pullback?

In contrast to poor jlnorth who classifies this as a Sell, appearing to have sold unfortunately at much lower share price levels last year, in my mind this is still cheap and I’m expecting reasonable returns and probably an associated eventual return to a premium to NTA. I hope that straight after selling it one rotated into something else that went up in an almost straight line almost 30% the past 8 months.

With the improved, solid investment performance, healthy cash reserves and the massive buyback at discount to NTA, I don’t want this converting to an open ended ETF. If the positive performance continues by Regal, not only would there be franking credits and plenty of retained profits but quite easily the dividend could even in fact rise, both % yield and the absolute amount. An ETF would never stand to benefit from a closing of the discount and could never trade at a premium to net asset backing.

Following on from the presentation at the Wilsons conference, even RPL is at 52 week highs and has broken through the $3 barrier and has done so strongly, which doesn’t surprise me.

IMHO too many others have displayed a lack of patience with VGI, even once it became apparent that things were turning around.

Things of a sudden all looking good since Regal took over.