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Washington H. Soul Pattinson (SOL)

Discussion in 'Listed Investment Companies (LIC) and Trusts (LIT)' started by austing, 26th Sep, 2016.

  1. austing

    austing Well-Known Member

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    Although not formally classed as a LIC SOL has some similar attributes. It is essentially an investment company. A number of LIC investors I have known over the years have held it along side their other LIC's. A true dividend aristocrat. Hence it was suggested that this stock be included in the LIC thread. Thanks @mikeyman123.

    Given the fuss over TPM I'm sure there'll be plenty of views on current valuation etc.

    To kick the thread off here is SOL's latest Presentation to Analysts:

    http://www.whsp.com.au/whsp/wp-content/uploads/2016/09/Presentation-to-Analysts.pdf
     
  2. twisted strategies

    twisted strategies Well-Known Member

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    i value SOL differently to most

    i think of it as research subscription ,

    yes it cost money up front but pays divs with franking , since then

    using the share-holders news letters and Presos

    i hold TPM bought @ $1.40 ( no cash at risk now )

    CLV ( no cash at risk )

    RHL , BKW , BKI , NHC , and LAU

    ( BKI and LAU bought this year )

    the actual divs ( at my buying price ) are not impressive , but the extra profits taken on TPM covered SOLs investment cash easily , BKW ( bought at $10 ) hasn't been so terrible either

    SOL SOUL PATTINSON (W.H) ORDINARY
    Change


    Balance Date Dividend Type Cents per share Ccy Franked % Ex-Dividend Date Books Close Date Pay Date
    31/07/2016 Final 31.000 AUD 100.00 18/11/2016 21/11/2016 12/12/2016
    31/01/2016 Interim 21.000 AUD 100.00 20/04/2016 21/04/2016 12/05/2016
    31/07/2015 Final 30.000 AUD 100.00 12/11/2015 16/11/2015 07/12/2015
    31/01/2015 Interim 20.000 AUD 100.00 21/04/2015 23/04/2015 14/05/2015
    31/07/2014 Final 29.000 AUD 100.00 13/11/2014 17/11/2014 08/12/2014
    31/01/2014 Interim 19.000 AUD 100.00 11/04/2014 17/04/2014 08/05/2014
    31/07/2013 Final 28.000 AUD 100.00 12/11/2013 18/11/2013 09/12/2013
    31/01/2013 Interim 18.000 AUD 100.00 12/04/2013 18/04/2013 09/05/2013
    31/07/2012 Final 27.000 AUD 100.00 13/11/2012 19/11/2012 10/12/2012
    31/01/2012 Interim 17.000 AUD 100.00 13/04/2012 19/04/2012 10/05/2012

    and how do you value the tip , that the ( proper ) LICs give these insight in how they invest ( and some tips might help you directly
     
  3. austing

    austing Well-Known Member

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    oracle and twisted strategies like this.
  4. twisted strategies

    twisted strategies Well-Known Member

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    i disagree with a lot of this

    first BKW , now i hold also , BLD , CSR and ABC BLD and CSR JVed their East Coast ( of Australia ) brick business and BLD is now in a JV in the US brick business ... BKW is stand alone as kicking goals ( or is it shins) for 3 years plus .

    NHC has also bought some QLD oil interests , and is developing cattle and stock fodder projects and should still have some 'clean coal ' tech ..... and i think coal will have another slow-down next year ( until global growth genuinely picks up ) ( and will look for top-up opportunities )

    TPM did very nicely ( imo) it is still bedding in IIN ( iiNet ) damned if i can work out how the analysts got their expectations

    API ( which i don't hold ) i don't find so attractive , and missed a single opportunity ( a good entry price ) about 2 years back

    and IMO several interesting moves never rated a mention ( TPE and SMD i hold neither ) for two examples
     
  5. oracle

    oracle Member

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    Well well..

    Rob and Tom Millner are buying up huge quantities of SOL (175K) stock approx. $2.7million each.

    ASX Announcement -1
    ASX Announcement - 2

    Rob is also buying up huge TPM. 100K shares for around $900K.

    ASX Announcement - 3

    Are the Millner's trying to increase their strong holds on these companies or is it just they think price for both stocks represents good value considering the future growth prospects?

    Cheers,
    Oracle.
     
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  6. twisted strategies

    twisted strategies Well-Known Member

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    my (absolutely uninformed) guess . is they suspect Pertual and Carnegie , will try to break up the Milners holdings trying to force a Cap. Return from SOLs divestment of TPM ( they have tried a variation before , include a court battle to try to make the Milners abstain in the voting ( and of course grab some board seats ).

    the other reasons are valid also , and (imo) a good move in TPM , to stop a possible take-over play from elsewhere ( also ). the Milners seem to be quite happy to have large ( non-controlling )stakes in companies . and the TPM result didn't look too bad to me
     
  7. bingomaster

    bingomaster Active Member

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    Wow. $2.7 million! Much more SOL than TPM... even though TPM has fallen much further
     
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  8. Il Falco

    Il Falco Active Member

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    The PPT / Carnegie thing is dead as the ATO wont play ball.

    Its definitely worth watching insider buys in SOL.
     
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  9. twisted strategies

    twisted strategies Well-Known Member

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    i can live without another corporate raid ( in the SOL/BKW group ).

    however the empire is getting rather complex ( like a smaller version of Berkshire Hathaway )
     
  10. oracle

    oracle Member

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    M
    May be that is why SOL hasn't fallen as much after the TPG fall.

    Let's see now that two big buyers have finished buying if there is any correction in SOL price due to huge price falls in TPM.

    Cheers
    Oracle
     
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