Ann: Capital Management Initiatives, page-9

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Stumpedup

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15/12/22

15:08

Post #: 65327668
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Originally posted by Dozzaman1977: ↑

Hi cutty
I held PMC for nearly 11 years and sold my 85,000 shares after the september dividend in 2020. I still follow PMC but ill never invest with them again.
They were a very good investment company back in the day but their investment strategy has been broken (my view) for a longwhile.
The final straw for me was reading their Annual report one year (forget which year) and they were talking about investment themes, future trends and so on. So on the Annual report that year they were talking about the big investment returns that people should see coming from autonomous cars, AI , robotics, etc ...... and guess which company PMC was shorting at the time of this big write up................
TESLA!!!!!! So they were pumping up the autonomous driving future etc etc at the same time they were SHORTING the most intuitive company in this area. TELSA share price was booming at this time also . So that was it for me with PMC
Surely they can find a company to invest in around the world that would deliver better returns than shorting TESLA.
They seem to buy in and out of the same companies every year also
Kerr Nelson is sorely missed
Good luck with your investments
Cheers

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@ Dozza. I was just reading this from their website.
"The investment returns shown are cumulative on A$100 invested in Platinum Capital Limited (ASX code: PMC) over the specified period (since June 1994) relative to the specified index. PMC’s returns are calculated using PMC’s monthly pre-tax net tangible asset (NTA) backing per share (as released to the ASX) and represent PMC’s combined income and capital returns over the specified period. PMC’s returns are net of accrued fees and costs, and assume the reinvestment of dividends. Note that performance is not calculated based on PMC’s share price."

Sounds great until you compare the website chart with the SP chart. The SP for PMC hit $1.18 in 1994 and has gone almost nowhere in 28 years. Basically relying on the compounding effect of re-investment, which can be done for any divvy paying stock. I agree there are better investments elsewhere.

PMC Price at posting: $1.30 Sentiment: None Disclosure: Not Held
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1 Great analysis

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