Spheria ‘best small companies fund in money magazine best of the best awards’ Follow the money.
accumulating up to 15c in last week with ave purchase price over 13.5c by looks of it.
forget all the ramping on basis of p/e of 1x, which is simply a fallacy. It is a value and asset play.
the move down is a shake out of retail holders and the hot and disappointed money of the last week coming out.
spheria are getting set for more asset sales, better news on renegotiated (silly) tv rights deals eg cricket!, olympics, increasing value in BVOD, some recovery in ad cycle, strategic deals to get better positioned in media, lower competition in community newspapers etc.
once debt is lowered to around $200m and proof that ebit stabilised above $100m then this will fly. Spheria buying now because it will move fast with any positive news flow, and Stokes is smart and will turn this around to protect his equity position
noise today in the press with Warburton talking down cricket Australia. Stokes’s hard nosed lawyers will frighten the life out of a financially fragile cricket Australia and renegotiate much better contract
SWM Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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