Just wanted to start some discussion about this Listed investment company. I personally only have two share holdings (quite large) and its AFI and one of its peers MLT.
Just saw the director made a purchase of $483,450 (for a family trust) which was done on market @ average of $4.8345 per share. AFI is currently trading at a small discount to NTA (pretax)and has been for a small period of time now.
Did anyone from here attend the share holder information meetings held recently? If so could you elaborate on it, share some thoughts and the like.
Also wanted to gets peoples thoughts on the balance sheet.
*I think it's good they are not sitting on a pile of cash like ARG and are fully invested... i understand having some cash on the ready to take advantage of opportunity, but i believe ARG have been sitting on it for ages. Where AFI has like a line of credit to draw on if the chance that something juicy pops up (i think its about 50million) I can save cash myself and that cash being hoarded and not used is being killed by inflation etc.
*First half earnings per share up like 18-20%
* They added to their position in Asciano (largest additions since dec 2010) unknown the size and what price they paid. Asciano has a hold rating from Morningstar and is a Transport infrastructure company (ports and rail) don't know to much about the company, besides my ex used to work for patrick.
* New holding Engenco (also in largest additions) don't know anything about the company. will have a look at some basic research later
*AFI has out performed the S&P 200 accumulation index on a 3/5/10 year basis pretty impressive considering thats after tax and management fee's'
Regards,
RH
AFI Price at posting:
$4.83 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)