Sunday, March 20, 2005
Mayborn picks up the baton
I've already mentioned how crucial March will be in shaping the returns I'll make in 2005. Ben Bailey, Mayborn and now Chaucer have all reported results. Mayborn's news raised a rumpus as speculators scrambled for shares in the company and each day last week bought gains in excess of 2%. The shares now stand at 369p to sell. That's above the sell target I set back when I bought but the news coming out of the company on earnings and prospects have forced me to raise this target price.
The recent price action from Mayborn has provided a huge boost to portfolio and ego. The majority that moulds market consensus has finally come to it's senses and recognised the value in this company. But there's still some way to go. I'll soon be posting an updated fair value estimate for Mayborn that will show further progress is a real possibility.
As for Chaucer, their recent results also necessitate a new appraisal of the company. The news of the proposed merger with Highway Insurance should start to seep into the aggregate judgement circuits of market-watchers, some price movement may be in the pipeline.
If all that wasn't exciting enough, there are Dana Petroleum's full-year results to look forward to. Last year these arrived on March 27th. Plenty can happen before the next full portfolio update.
The Artful Dodger
The recent price action from Mayborn has provided a huge boost to portfolio and ego. The majority that moulds market consensus has finally come to it's senses and recognised the value in this company. But there's still some way to go. I'll soon be posting an updated fair value estimate for Mayborn that will show further progress is a real possibility.
As for Chaucer, their recent results also necessitate a new appraisal of the company. The news of the proposed merger with Highway Insurance should start to seep into the aggregate judgement circuits of market-watchers, some price movement may be in the pipeline.
If all that wasn't exciting enough, there are Dana Petroleum's full-year results to look forward to. Last year these arrived on March 27th. Plenty can happen before the next full portfolio update.
The Artful Dodger
Comments:
Post a Comment
