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FTSE / DOW YTD

Hi,

What do you guys use to do long term research into specific companies?

i'm interesting in GNK. I can get all the financial metrics from various places, broker targets from EQ and some of the market expectation figures from FT and 4Traders.

However, what I'm really looking for is a investment analysis piece. I ask because the share price I consider excessively bashed up. I understand anything retail is out of favour, impact of minimum wage etc. and rising interest rates on EBITDA, but what I'd really like to read is a balanced piece.

I'm prepared to spend a couple of hours reading the accounts, trawling the internet and getting my information that way but if I could find a summary of what someone had already done that would be great.

Not sure if this is what your looking for CC. Google Phil Oakley Article on Greene King (Third one down) How to do a SOTP valuation.

Thanks Chris.

What I'm looking for is more a rationale for the existing share price and why isn't being shorted continually.

When that article was written in 2005 it shows an EBIT of £256m and implied P/E of around 14. The share price was 795p then and Phil Oakley suggested fair value as 788p so recommendation of do nothing.

Since then If I believe the figures from 4Traders the forecast EBIT for 2018 is £378m, a P/E of 8 as well a 7% yield.

I'm trying to get into the heads of those that are shorting to understand the detail. All I can see is that the gearing is high, the sector is out of favour and (rumours) others are taking market share off GNK. I have already bought a small amount of MARS which is fairing far better. I found an interview with the CEO helpful and the accounts showed some efforts to diversify.

GNK I find nothing to interest me other than a battered up share price which seems to be covered in more batter than would be reasonable imho.

Perhaps I can phrase it another way. I made alot of money over the last 18 months on ALD and SHAW because I was comfortable I understood why the share price was bashed up and that the rationale behind it was wrong.

I'm trying to do the same thing here.

What on earth caused this latest sell off?

I don't know Skinny but it was all fine until the Dow opened and then we can all see the downtrend line running all afternoon. Nearly 100 pts top to bottom.


I'm rabbit in the headlights now. Waiting to deploy my cash on either LLOY or STAN,
but a number of others are now appearing on my radar.

It is my view for what it is worth that the Dow fall from 26500 may have further to run. I consider the speed at which it made the move from 25500 to 26500 to be ridiculous and put in a "false top" in terms of retracement percentages.

We all are waiting on the GDP figures now I guess.