Ann: Becoming a substantial holder, page-30

Hello Pioupiou
That’s intriguing. Thank you.
I have been noticing Perpetual a bit.
Apart from what is noted in your story, it was hit badly by RCR, then took losses getting out of MACA and increased its position in Bega only to have Bega go sour. On the good side New Hope Coal went up and it was looking at a 36% profit today if it bought into Viva in January ( but with it’s current luck it probably didn’t).

Considering what happened to the market last November and predictions (I can’t remember whose) the Australian economy hasn’t got much going for it, (except for our mates at RIO and their kin)....and mass anxiety over the potential impact of a change in government ....and climate , and China either ‘taking us over’ in a business sense or else abandoning us ..and so much more, I think if I was the big boss at Perpetual, I would be concerned about all that and hating the recent losses - especially if they are worse than at most other funds (an assumption based on limited, incidental observation of PPT and almost no observation of any others) and I would be telling my brokers to pull their heads in, and cash up, and batten down the hatches.

I would also be sending a spy into Vinva to study the secret of their success, and buying NWH because it seems still to be very conservatively valued.
(Not being the big boss at Perpetual, nor having any great record as a stock picker (bar one company*) this is possibly not the formula that is driving Perpetual right now, .but, well, .. if f I ruled the world etc etc.....)

Interesting that Paradice went under the radar here so long ago at what seemed to be so close to a break even price point for it and us selling elsewhere ....Iluka looks a bit boring and Cleanaway has been a good investment for it ....I guess it was selling into the results there?.

Going under 19 million shares here made no sense to me still at all except that it was serendipitous given the shorting season opened almost immediately after it left .

Cheers


(*That would be this one)