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Welcome to our Q&A page. This is the best place to ask us questions that relate to stocks, recommendations and investing generally. Within those parameters, we'll try to answer any questions you might have, although at busy times it might take a few days for us to respond.


Latest Q&A With Our Experts

James Carlisle Answered by James Carlisle 1wk ago

IOOF's acquisition of ANZ Wealth Mgmt

Looking at IOOF and ANZ. I believe the ANZ wealth business is a very poor one having had experience as an investor and a planner. Their management expenses are very high and their customer service levels have been very poor – bureaucratic in the extreme. My concern is that IOOF will find the integration much more difficult than they expect resulting in large time and dollar costs as well as a potentially greater erosion of the client/management base than they expect. Also there is likely to be a massive distraction effect at a time when markets are likely to be extremely volatile. Comments please.

James Greenhalgh Answered by James Greenhalgh 2wks ago

Any reason you don't cover Synlait?

I was researching Synlait & was surprised that it wasn’t a stock that your group covers – it’s a substantial company. Any reason for the lack of interest? Also I was looking at Galaxy Resources & couldn’t find the substantial shareholders.

James Greenhalgh Answered by James Greenhalgh 3wks ago

Silver Chef price fall

Hi there

What on earth is happening with Silver Chef SIV? I know part of the ‘model’ has been disrupted and ditched but the mainstream of the company seems intact.

What is behind the market thrashing? Your view?

Thanks

Eric

James Greenhalgh Answered by James Greenhalgh 3wks ago

Trade Me's free cash flow

Hi James What do you think TME's free cash flow will be? They look quite pricey on a trailing free cash flow basis due to reinvestment. But I imagine they will need to maintain similar level of capex to remain relevant? And if so, then will we ever see free cash flows matching EBIT one for one? Also, on a base case basis what are the multiples you've used for the Classifieds & General Items division in your valuation and why you've decided to use those multiples? Thanks

James Greenhalgh Answered by James Greenhalgh 3wks ago

Watpac partial takeover

I understand you don't cover Watpac Limited (WTP) but am wondering if you have ran the ruler across the business and have any insight to share on the current Scheme with its major shareholder BESIX Group SA proposing to acquire a further 50% of the issued shares in Watpac that it does not already own for an offer consideration of $0.92 per share?

James Greenhalgh Answered by James Greenhalgh 3wks ago

Director buying and buybacks

My query relates to company executives buying company shares 'on market' after a substantial restructure of the business and a subsequent share price 'crunch'. As investors should we consider this a strong positive indication that company hierarchy do indeed have faith in the future of the company...or.. are there other corporate strategies that may be in process to maybe support the share price? If indeed this is a positive sign, would the next move by the company (if they have sufficient cash available), begin share buy backs. Regards Grant

Graham Witcomb Answered by Graham Witcomb 4wks ago

Were MVF's problems more cultural and management related?

Hi Graham, I am looking at buying MVF as it appears quite cheap to me now - but after rereading your article my main concern is your comment about the bad economics of the business and that according to Warren Buffet even management change will not help this. I know that Virtus shows better economics but I always thought that MVF's problems were more cultural and management related and that the economics of the business are quite decent due to all the points that you have made in your articles. Is this correct or are the economics of the business really that bad?

Graham Witcomb Answered by Graham Witcomb 4wks ago

CSL price decline

What has happened to CSL in the past few days? Can you advise what has been behind this fall over past 2 to 3 days?

Gaurav Sodhi Answered by Gaurav Sodhi 4wks ago

Woodside dividends

Woodside, I note Gaurav's recommendation. Morningstar have an anticipated yield of 3.8% in 2019? This would be my main reason for not investing atm. Any thoughts on this anticipated reduced dividend from Morningstar? And if you guys disagree could you please comment on your dividend thoughts, expectations over the next 3-5 years? many thanks, Marcus.

Graham Witcomb Answered by Graham Witcomb 1mth ago

Freedom Insurance Group

What do you think about Freedom Insurance Group? It was one of the stocks Forager presentation pointed out recently and I am not a big fan of Insurance companies (they can declare whatever expense they want as long as their actuarial department agrees), so it will be nice to have an expert opinion.

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