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:@)

theqrimreaper
What are u saying exactly - EMG looks very cheap to me

Yes - I've had a contrarian long (again) this am.

Yes indeed Mr Kirkham, I'm afraid the short positions have made rather a mess of our share price, but I would still not advocate buying core until our AHL NAV has risen substantially.

I read AHL is a hedge fund which specialises in hundreds of commodities.
EMG says AHL is not tied to stocks and shares.
From your graph above ... share price / AHL nav - "I understand AHL is there biggest fund there must be a correlation somewhere there as u suggest"
.
You show AHL NAV at $1.15 against share price of £0.76 which is a variation larger
than normal, but not so precise and useful.

As EMG is a closed end Company, it may be better to compare the AHL total fund,
or better EMG's total funds under management, with EMG market capitalisation,
and somehow adjusting for priority interests such as Pref shares and any loan stock
etc.

Sorry to get technical - but I think you may be on to a useful graph somewhere.

Any comments ?

I think there is a correlation between the movements of the £ to $ in relation
to FT indexes.

I usually keep an eye on the NMIX FT index - that is 250 without investment trusts.
When £ rises against $, shares seem to drop and visa versa

I have an account with IG index which I rarely use, but on which I can see currencies,
copper price, oil price, wall street, Hong Kong, Germany, etc.

Indeed Mr Kirkham, I am suggesting that it is the share price that is pegged to our AHL net asset value, AHL up, our share price goes up!

theqrimreaper

I read your chart as telling me that the share price is presently under scoring the
present AHL nav and this as an indication that EMG is presently under priced.
It also indicates it could be nearer to 100p share price. Do you agree ?

Do you think it may be a good idea to superimpose the FT 100 or FT 350 on top of
your charts also - i.e have a third line ?
Your chart is simple and much easier to calculate rather than trying to show the
figures I suggested in 6 above

Very interesting -
hope you can maintain the chart and post it on this thread for next few months, si I also may check it ? p.s I am holding 80,000 EMG shares bought at about 100p

Certainly Mr Kirkham, I assure you our man group share price will soon move in favour of our AHL NAV, but only on the proviso that the NAV does not fall back below $1.1400 mark.

I have overlaid the ftse on several occasions, two year, one year, six and three month periods, and found absolutely no correlation at all, but I would not expect to see any, due to AHL trading mostly in currencies.

I am currently running a paper loss here of £48,590, all certificated out of CREST!
I’m not telling you how many of these I hold, may I suggest you edit out the value of your holding as some things are better kept private to yourself and other trusted avatars.

The chart in the header will be updated on a daily basis, just check the edited date and time just above the header chart, cheers anyway, and call me ‘grim’ will yah

Nice one Grim - I'll keep in touch Bob

Well I'm quite pleased (this time).

Got a buy order in @ 82.0 skinny, law of averages says it must have a bounce eventually, but to be honest I'm not holding my breath.

I'm in @73.85, but I got it very wrong last time, so hoping for better this time.

AHL's return yesterday down a whopping -1.06%, don’t be buying into this one just yet lads!

It’s looking remarkably like our three stooges have given up on Pandora yet again, what’s the problem Timmy-Boy!!! Ravi!!!! Louglas!!! Black-box too spicy for yah!

Grim plans to be voting against you party at the next AGM, your cum’n top of the list Pete me old pal, so be sure to rob our company as much as you can for now, cos your days are definitely numbered.

Here is grim’s financial forecast for Man Group for the first six months this year, ending 30th June 2012.

Total FUM $59,268,400,000

Management Fees $202,800,000

AHL Performance Fees $Nil

Net Finance Expense ($38,220,000)

Cash in hand $220,000,000

Profit Year to date $164,580,000

I would hope that the funds under management would remain roughly where stated back in May, I cannot see any real improvement in this direction due to the ongoing economic situation, and would consider a FUM report greater than $59.5 billion a very positive return.
Management fees of $200 million (conservative), not much to say here except that this figure is totally reliant upon the FUM.
AHL performance fees, well we all know what the return from our ‘flagship’ fund is going to be don’t we, so we’ll move swiftly on.
Net finance expense of ($38) million, I would hope this to be rather less if one considers the promise made back in December “saving of approximately $20 million from 31 December 2011”[1].
Cash in hand was stated as $250 million back in May, but this party has a sneaky habit of adjusting the cash situation in whatever direction seems appropriate to they’re needs, so I’ve lost $30 million on paper clips!
Profit for the full year somewhere around $330 million if we’re lucky.
Dividend maintained at 22 cent leaving $180 million cash in hand end of year, Pete knows if he cuts the dividend, he’s gone, so I don’t think we have any worries in this regard.

Please treat the above figures with the contempt to which you think they deserve, as they are merely a figment of grim’s uncultivated imagination, and please, kindly, do your own research!

Reference: [1] http://www.mangroupplc.com/assets/pdf/annual-reports/annual-report-9m-to-end-2011.pdf - Page 15.

Well, grim’s avin some of this………

http://www.mangroupplc.com/assets/html/daily_prices/daily_prices.pdf

What goin on Grim - can't get prices

The market is slightly bewildered with our ahl performance Bob!

Time to go 'core' on this stock me thinks!