Ann: 2021 AGM Presentation, page-76

So, I have been doing some DD on SOL and reading the posts as regards it being in my buy zone or not.

SOL seems to offer compelling value now at just under $26 v a high in sept of around $42.

Fundamentally the portfolio since the 30 November 21 has remained largely at the same value - with no disclosures, i assume the same holdings and modelled their return ( see summary below) .

In a nutshell they largely net to nil.

The large loss on TPG is offset by gains on NHC and the large caps. That would leave the NAV largely unchanged $26.40 (assuming the 15% unlisted hasn't generated much return)

$ figs are AUD Bn btw


Technically there is much to like, It is close to support ( October resistance circa $25.84) and a Fibonacci retracement of 62% at $26.48, so looks like a bottom and very much in the buy zone once. It is forming a nice base and sees some buyers supporting the current price.

Daily RSI is hovering around 30 and near a buy signal and the chaikin money flow of late is supportive so looks very good technically.

the falling price and moving averages are obviously the main drawbacks, so it would be an aggressive ( traders) buy.




the last point for me then is the one that puzzles me no end - how did it get to $42 in November 21 with a NAV of $26.40??

That is a big premium for the Patts magic - has it been so for a long time? - in truth, given the evaporation in the premium paid for investment management skills ( e.g. Hamish Maccdouglas at Magellan) raises a big question for me as to value.

Any thoughts on whether I'm missing something?

sorry for the long post!

good luck

wazz