Looking at the trades I think there is a fund building a position in FID. Soaking up stock that's on offer at $1.90.
Given the current state of the markets FID is trading strongly and will be interesting to see if going Ex tomorrow has any effect on the SP. In regards to how FID will be affected if the markets tank , they will be to the extent that the value of FUM will decrease and the clip will decrease. However there will be opportunities for FID to mopped up financial planning practices on low multiples that are struggling. FID's outlook commentary was they are going to accelerate their acquisitions - hold on for a very interesting ride !
FID Price at posting:
$1.90 Sentiment: Buy Disclosure: Held
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