AFF Member Stock Discussion

[Happy Dude]

What happens at these AGMs? Crikey stands up and asks questions taking the board to task? They seemed like a fun place to be when The Chaser was around. Other than a free sanga, what's the point of going?

 

[Dr Ralph]

What happens at these AGMs? Crikey stands up and asks questions taking the board to task? They seemed like a fun place to be when The Chaser was around. Other than a free sanga, what's the point of going?

Lots of online questions from Stephen Mayne today that primarily had already been addressed in the statements made by the CEO etc, so people just laughed and the CEO made comments like Mayne clearly wasn't in touch with what was happening.

Post automatically merged: Nov 22, 2022

Lots of online questions from Stephen Mayne today that primarily had already been addressed in the statements made by the CEO etc, so people just laughed and the CEO made comments like Mayne clearly wasn't in touch with what was happening. Why go? Free food. Free entertainment. Free company products. Goodman Fielder and Coke historically were great AGMs for free product. Although not much on offer today!

 

[drron]

What happens at these AGMs? Crikey stands up and asks questions taking the board to task? They seemed like a fun place to be when The Chaser was around. Other than a free sanga, what's the point of going?

Claiming the tax deduction for your travel. With my buying and selling the ATO classifies me as a professional investor.
I haven't yet tried flying to Perth for one of my tiddlers AGMs. Though I was successful in the past when I visited a gold mine in WA that I had shares in.

 

[Happy Dude]

Interesting @drron. Didn't know that. I doubt I'm anyone's definition of a professional investor, but I'll have to look into that. Seems like an..... opportunity.

 

[SYD]

Interesting @drron. Didn't know that. I doubt I'm anyone's definition of a professional investor, but I'll have to look into that. Seems like an..... opportunity.

I might be wrong but didn’t that go with visiting investment properties?

My accountant was quite adamant that I couldn’t claim a trip to France for an AGM there a few years back…

 

[tgh]

Of course the costs of attending AGM's is a deductible expense.
I have often wondered if a trip to bangywangy to check out liimp23's mining prospects with a view to investing would also be a legit expense

edit .. sorry the thread had moved on by the time I posted….

 

[SydneySwan]

I claim the costs of the trains, taxis, etc. for the half dozen or so AGMs I attend in Sydney each year. These are perfectly legitimate tax deductions.

 

[odysseus]

Assuming that you a) have time to go to them all, and b) that a free lunch is really worth that hassle.

That looks like an exciting place to be. Bluescope's shareholders really must care what the CEO has to say!

...And that there is a free lunch. None of the AGMs I've gone to (whether large or small companies) have ever actually included a free lunch.

 

[Dr Ralph]

...And that there is a free lunch. None of the AGMs I've gone to (whether large or small companies) have ever actually included a free lunch.

Really? ASX top 100 companies?

I've been to more than 50 AGM's over the past decade. Every one I've ever been to has had something after the meeting finishes - Eg, Telstra, Coke, Goodman Fielder.

 

[odysseus]

Really? ASX top 100 companies?

I've been to more than 50 AGM's over the past decade. Every one I've ever been to has had something after the meeting finishes - Eg, Telstra, Coke, Goodman Fielder.

Woolworths was the last one in Top100, some others before then. Obviously some do, but not all.

 

[MARTINE]

Woolworths was the last one in Top100, some others before then. Obviously some do, but not all.

A charcuterie platter from the deli with some Australian flags ?

 

[Dr Ralph]

Dr. Ralph, Thank you for your valuable comments. As you will have gathered, I am a big fan of SPPs. I see this one from PL8 as a great deal, and a good opportunity to build up my holding. I can see why some shareholders might be hesitant given the volatility in markets these days.

Having been in many SPPs which have been scaled back over the years, I suppose it is the first thing I fear when I qualify for what I see as a good one. Hopefully you are right and there will be no scale back.

Just checked and there was no scale back from the SPP that PL8 offered in November last year.

 

[tgh]

almost 800 points in 50 days.. wonderful ride….

 

[one9]

I'm banking on history repeating itself, that's why I always keep 1 share in every stock that I purchase.

What I'm trying to do is this: https://www.maynereport.com/images/2020/09/07-1EHKB1DV600.pdf but without the ridiculous fees they are charging and for no where near what they claim it costs to set this up. I started this process more than a decade ago and have recently started to do the same thing for my partner but at a much more rapid rate.

Thanks for sharing what you do. It is very useful and interesting.

Looking at the SPP harvester website past SPP's, I am guessing SPP offers are becoming less and less attractive with not many in 2021 & 2022. Or it could just be they are attractive in specials years (COVID 2020, after GFC etc). I note for a recent SPP for DEG, they mentioned "many were from applicants who held an “unremarkable” shareholding, with a “significant number” from people who owned just one share in the company." and they reduced unmarketable holdings holders to $500.

 

[Dr Ralph]

Thanks for sharing what you do. It is very useful and interesting.

Looking at the SPP harvester website past SPP's, I am guessing SPP offers are becoming less and less attractive with not many in 2021 & 2022. Or it could just be they are attractive in specials years (COVID 2020, after GFC etc). I note for a recent SPP for DEG, they mentioned "many were from applicants who held an “unremarkable” shareholding, with a “significant number” from people who owned just one share in the company." and they reduced unmarketable holdings holders to $500.

The game is always changing. What DEG has done is not the norm.

There were numerous successful SPP opportuninites in 2021 and 2022.

Just some examples:

2021 - BOQ, PDL, MQG and PL8
2020 - ANZ and PL8 (pending)

 

[one9]

The game is always changing. What DEG has done is not the norm.

How much are you paying in brokerage for each purchase of 1 stock (which I presume is two trades - buying $500 worth and then immediately selling them all except 1)? More than $10? I was going to say excluding your time costs, you could probably make back the $2000 brokerage (assuming $10 for the 2 trades for 200 stocks) fairly quickly. Although not in 2022 - looking at the SPP Harvester results for 2022 (up to 17 Nov 2022), they have lost $4,306 this year (which was mostly from the Zip SPP).

 

[Dr Ralph]

How much are you paying in brokerage for each purchase of 1 stock (which I presume is two trades - buying $500 worth and then immediately selling them all except 1)? More than $10? I was going to say excluding your time costs, you could probably make back the $2000 brokerage (assuming $10 for the 2 trades for 200 stocks) fairly quickly. Although not in 2022 - looking at the SPP Harvester results for 2022 (up to 17 Nov 2022), they have lost $4,306 this year (which was mostly from the Zip SPP).

Stake is $3 a trade.

 

[Buzzard]

I need to speak to my accountant about attending AGM's.

 

[Dr Ralph]

Dominoes SPP announced 1/12/22, doesn't look like good value.

 

[Happy Dude]

What's the cut off for "good value" for a SPP?

Yesterday I got one for Camplify CHL at around $1.78. I recently got one for Remsense REM for about $0.17.

In both cases, the SPP price was about 15% discount on the market price at the time of the SPP announcement.

But since the SPP was announced the share price went down for both these stocks, closing the gap between the market price and the SPP price making the value seem poor(er). Infact, REM is less than $0.14 today so those that took it up have lost out.