Photon gains a new stakeholder
Boutique investment fund Intelligent Investor has taken a punt on the depressed state of Photon Group’s share price and bought 5% of the company.
Intelligent Investor Funds Pty is a spin off from the Intelligent Investor publication.
The fund has bought just over 80m shares, amounting to 5.22% of the company, the company has disclosed to the ASX.
Share in Photon Group – which owns agencies including BMF, BWM and Naked Communications – sank to a new low of 2.6c on Tuesday. It has since recovered fractionally to 3.1c at the time of posting, giving it a market capitalisation of just under $48m.
The shares were bought by Intelligent Investor in a number of trades amounting to taking place between June 24 and August 8.
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i wonder if the team at Intelligent Investor are angling for a name change with this punt?
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These guys are either absolute genius’s or total idiots – time will tell.
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I look forward to the positive puff pieces on Photon in their upcoming publications.
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I am hoping they are absolute genius’s….. enough said
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It wouldn’t be the first time I’ve looked a total idiot – happens to most fund managers on a somewhat regular basis (which is why most of them rarely stray far from the index …. looking like an idiot when everyone else looks like an idiot is much more palatable than looking like an idiot on your own!)
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Look at how the Intelligent Investor Fund has performed since its inception … says it all!
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Good luck Steve I think you will need it. In the amazing event that Photons share price begins to recover and goes up, looking at the liquidity of the shares, you will be very lucky to find a buyer for any large parcels of your 5%.
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“In the short term the market is a voting machine, in the long run it’s a weighing machine”
This too shall pass
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successful analysts manage real money, they don’t write stock tipsheets
they say Rene Rivkin made more money from his subscribers than he did in the market
ASIC should be all over these little operations as they have never been held accountable
they purvey their so-called expertise in the gullible financial media, build up a fan base and then hit them up for real money for their funds, which are a gross conflict of interest
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