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Written by Ben Dixon
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Security sold from the Money? What Money? investment portfolio:
Company Name: Party Gaming PLC
Symbol: PRTY
First Held: 5th November 2009
Holding Sold: 100%
Date Sold: 19th February 2010
Purchase Price: 224.5 pence
Sale Price: 291.145 pence
Profit: 30%
Party
Gaming performed in line with expectations, benefiting (probably) from
the gradual realisation of the market that the sale by founder of a
substantial share holding was not indicative of problems within the
company. A sale was made at slightly below our original target price of
300p due to a decision made to re-organise our portfolio.
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Written by Ben Dixon
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As I write this, a troy ounce of Gold will set you back one thousand, one hundred and seventy nine of your hard earned US dollars. For our English readers – and those who can't think in troy ounces – 31 grams of gold will cost you the best part of 708 pounds. If you look back to January 2008, you could have got yourself that ounce for just $800 (a bit over £400 with exchange rates as they were). Sticking to dollars for the moment, that's about a 50% increase. But why?
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Read more...
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Written by Portfolio Updates
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New security added to Money? What Money?'s investment portfolio:
Company Name: Mwana Africa PLC
Symbol: MWA
Puchase Price: 13.5 Pence Per Share
Date of Purchase: 5th November 2009
Target Price: 17 Pence.
Summary:
Mwana is a mining company focussing on precious metal, base metal and diamond extraction in Africa. They have various interests in Zimbabwe which – due to the current political turmoil – has led many investors to avoid any substantial commitment.
The focus on the risk posed by their interests in Zimbabwe has led to a disproportionately low valuation given that they have substantial assets in other parts of Africa.
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Written by Portfolio Updates
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New security added to Money? What Money?'s investment portfolio:
Company Name: Party Gaming PLC
Symbol: PRTY
Price Paid: 224.5 pence
Date of Purchase: 5th November 2009
Target Price: 300 pence
Summary:
Party Gaming is an online Gaming company, best known for its poker website but also providing a large selection of casino style on-line games. They have made use of the recent economic turmoil to make acquisitions in relevant business areas as well as signing high visibility deals with companies such as Channel 5 in the developing televised poker market.
MWM took advantage of a fall in the share price apparently triggered by one of the founders selling two third of his stake in the company. Closer examination suggests that this sale has little to do with the health of the company and was in fact related to the founders desire to move away from the industry following the legal troubles created my Americas ban on on-line gambling.
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Written by Ben
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A few of you might
remember a brief debate a while back about whether it would ever be
acceptable for Facebook to charge it's users if it was unable to make
a profit from advertising. I was strongly of the opinion that if they
couldn't make enough money from advertising – and I didn't believe
they could – then it would be reasonable for them to ask users to
pay a usage fee.
It looks like my fears
may have been groundless. On Tuesday Facebook announced that it had
reached 300m users and was now – a year ahead of schedule – cash
flow positive. Whilst this isn't quite the same as being in profit –
it means they are making more from advertising than it is putting
into capital expenditures – it's the main hurdle which has to be
passed for a business model like Facebooks to be profitable long
term.
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