orbis is willing & undeterred , page-6

Well put newieboy.

>>It would be interesting to know the impetus behind their [Orbis] repeated buying<<
I venture to suggest that Orbis believe the company story as previously presented to the market only two months ago and earlier. Like many others, Orbis appears to like the story, and looking at their continued buying of NBS shares, they must work on the assumption that nothing has changed.

>>despite others heading for the exits<<
Other being nervous chatroom keyboard jockeys ??
+ perhaps an offshore seller ?
- or with the 'others' do you have anyone else in mind Newieboy ???

Earlier this month the company directors responded to a query from ASX. If NBS were sitting on negative and price sensitive information at the time do posters here really thing they would not have responded accordingly to ASX then or at some stage in the three weeks since then ???

One get the impression that some posters here continue posting their negative sentiments only to justify, in their own minds, that they made the right investment decision to sell out when they did.
Perhaps, given their personal circumstances, their sell decision was the right way to go. Perhaps they don’t have the stamina for this kind of investment. I don’t know and frankly don’t care either. As the picture is at the moment, I continue to buy more as funds are released for futher reinvestments.

So who are the 12.7% block owners of NBS ?
For the answer study the Form 604 by Orbis.
Check out the trades in table 3 and then go to table 2 to find the funds Orbis are investing for. The holdings by individual funds are listed in Table 4.

Some rather conservative funds like:
Hesta Super fund (9.3mil NBS shares)
Catholic Super fund (4.6mil shares)
Construction & Building Union fund (10.7mil shares)
There are others incl this one:
Orbis MIS/SM Fund (20.8mil NBS shares).

About the Orbis funds :
* The Orbis/SM Australia Equity Fund aims to remain fully invested in shares listed on the Australian Securities Exchange at all times. The fund's investment objective is to seek long term returns for its investors that are higher than that of its benchmark, the S&P ASX 300 Accumulation Index.
As all our purchases are based on company specific fundamentals, we take a very long-term perspective (five years or more) when buying shares. Investors should take a similarly long term view when considering an investment in the fund.

* The Orbis MIS Global Equity Fund aims to remain fully invested in global equities. The fund's investment objective is to seek returns that are higher than that of its benchmark, the MSCI World Index.
As all our purchases are based on company specific fundamentals, we take a very long-term perspective (three to five years) when buying shares. Investors should take a similarly long term view when considering an investment in the fund.

Food for thoughts ?