Comments on: Market Musings 3/9/2012 http://pdosullivan.wordpress.com/2012/09/03/market-musings-392012/ Financial analysis from Dublin, Ireland Thu, 13 Dec 2012 23:23:55 +0000 hourly 1 http://wordpress.com/ By: davylad http://pdosullivan.wordpress.com/2012/09/03/market-musings-392012/#comment-1181 Mon, 08 Oct 2012 15:51:45 +0000 http://pdosullivan.wordpress.com/?p=727#comment-1181 Congratulations on the new job Phillip and good luck. I will watch your scribblings with interest. I see you sold Abbey out to Gallagher. Pity. People who know value need to stand up to sharks to protect the innocent. The Phoenix analysis was pretty good but even it missed the fact that recent results were poor because of unnecessary lump sum pension contribution (the fund has a large surplus) as well as the write off in Ireland.The tone of the company’s commentary in the last year has been to talk down its outlook while the rest of the UK industry has rightly been much more upbeat. I wonder why? Nothing to do with Gallaghers intent to buy cheaply, the minority . Who are looking very oppressed at present???. Looking at the Redrow deal and the Persimmon acquisition you would have to conclude that Gallagher has done a poor job of Abbeys strategy in recent times. Sitting on a huge cash pile when sites could be bought well. (Maybe Matthews is buying all the good ones.) However if Gallagher wanted the cash to fund his acquisition of the rest of the company that makes some sense.But is hardly good corporate governance. Still one can rely on the independent directors to protect the minority.Cant one??? Also Irelands largest and finest and upright Stockbroker Davy did a report on the offer (which was pure codswollop) 30 pieces of silver to both. I could go one but I’m not getting paid for it so… Dave

Date: Mon, 3 Sep 2012 10:02:07 +0000 To: dpthrowit@hotmail.com

]]> By: Market Musings 4/9/2012 « Philip O'Sullivan's Market Musings http://pdosullivan.wordpress.com/2012/09/03/market-musings-392012/#comment-1115 Tue, 04 Sep 2012 16:53:06 +0000 http://pdosullivan.wordpress.com/?p=727#comment-1115 [...] sales growth, at 5.1%, is commendable, its comments on the games strengthens my conviction around my recent disposal of shares in one of its peers, Marston’s, after the last of the three clearly identifiable potential [...]

]]>