Betfair set float price
I think they are moving towards a fairer valuation now. If you take market cap and lop off cash then do a multiple on earnings from there it looks a bit better now. Growth prospects are tricky though. It would be nice to see some figures on what is happening in established territories like Australia.
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andyfuller
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New record low just been hit, now 750.50 as of 3pm.
Curious chart pattern, maybe Jeff can interpret. But it looks like it just keep dead cat bouncing all the time.
I would suspect their next results would get a big boost from implementing XM on racing. But the word on the street is that the results are not going to be that good.
I would suspect their next results would get a big boost from implementing XM on racing. But the word on the street is that the results are not going to be that good.
Kind of you say so Peter, but I'm sure your ability to interpret what's going on in a price chart is far superior to mine.Euler wrote:Curious chart pattern, maybe Jeff can interpret.
As an aside, I'm actually moving away from candlestick pattern study, and towards a more mechanical approach, but I digress...
The chart can be viewed at http://uk.finance.yahoo.com/echarts?s=B ... ff;source=;
IMHO, the market isn't showing a clear trend at present, but if I was forced to take a position, I'd bet on the long term downward trend continuing, and go short.
Jeff
It seems QE3 may be on its way (viewtopic.php?f=35&t=2966&start=10), which could boost (or should that be 'inflate'?) equities...
By 'speculative longs', do you mean equities that you bought purely with a view to selling them when their price rose? The reason I ask is that I'd thought you were purely a long-term investor.
Jeff
By 'speculative longs', do you mean equities that you bought purely with a view to selling them when their price rose? The reason I ask is that I'd thought you were purely a long-term investor.
Jeff
Euler wrote:Sentiment is shot in the financial markets at the moment, so that is bound to have a negative effect. I've got a few speculative longs in the market and they have all been hammered.
I have a small portfolio that I buy turnarounds in. I scatter a number of selections into that portfolio. You only need one or two to come off to produce a decent reward. None are showing any signs of life at the moment. Because returns are log normal and the lowest price is zero it tends to work over time.
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andyfuller
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Closed the day at 735.0 down 5.1% on the day.andyfuller wrote:New record low just been hit, now 750.50 as of 3pm.
Betfair poised to replace Yu as chief executive - http://www.telegraph.co.uk/finance/news ... utive.html
That is big news, I loved the following quote which was not a "perfect storm" but completely predictable. Which is why I always had them as a sell.
The issue you have with incoming execs though is that there is often a shake up.In a recent note, Vaughan Lewis, a Morgan Stanley analyst, said: “Betfair has faced what we see as a perfect storm since listing.” He highlighted “adverse regulatory changes”, including an attempt by Italy to revoke Betfair’s licence and a draconian approach from Germany.
http://www.investegate.co.uk/article.as ... 1416J&fe=1
Succession process for CEO of Betfair to begin
After ten years with Betfair, and nearly six as CEO, David Yu has informed the Board that he believes it is now the right time for the company to start looking for his successor. He does not intend to renew his current contract (which expires in October 2012) and therefore the Board will now begin a search process for a new CEO. During the process of identifying his successor, David will remain fully committed to the Company and to delivering the plans for future growth.
David Yu said,
"I have discussed my plans with the Board and as a result, we are beginning the search for my successor. We are announcing this now so we can actively and transparently begin the process. I will remain committed to delivering the best for our people and our shareholders and will give the Board all possible support during the succession process so we can find a great, new CEO to steer Betfair through its next phase of growth."
Edward Wray, Chairman, said:
"We understand why after ten years David would like to start thinking about the next stage of his career and, in time, hand the reins over to a new CEO. The open manner in which we will conduct the search will make it easier for us to find the best candidate for the role. With the Board's full support, David will continue to focus on delivering against the business' plans as we search for his successor."
Succession process for CEO of Betfair to begin
After ten years with Betfair, and nearly six as CEO, David Yu has informed the Board that he believes it is now the right time for the company to start looking for his successor. He does not intend to renew his current contract (which expires in October 2012) and therefore the Board will now begin a search process for a new CEO. During the process of identifying his successor, David will remain fully committed to the Company and to delivering the plans for future growth.
David Yu said,
"I have discussed my plans with the Board and as a result, we are beginning the search for my successor. We are announcing this now so we can actively and transparently begin the process. I will remain committed to delivering the best for our people and our shareholders and will give the Board all possible support during the succession process so we can find a great, new CEO to steer Betfair through its next phase of growth."
Edward Wray, Chairman, said:
"We understand why after ten years David would like to start thinking about the next stage of his career and, in time, hand the reins over to a new CEO. The open manner in which we will conduct the search will make it easier for us to find the best candidate for the role. With the Board's full support, David will continue to focus on delivering against the business' plans as we search for his successor."