Funds Focus Newsletter January 2013
The Insider

Pirates fail the sniff test (Part 3) – What happened to Henry Morgan?

My previous article on the Pirates (Pirates Fail the Sniff Test Part 2) was based on my analysis until March 2017, since then Henry Morgan Ltd (HML.ASX) went into voluntary suspension after the ASX started to ask questions about the related party transactions and NTA figures disclosed. They have remained suspended ever since, pending an audit from BDO Australia.
Readers looking for some background would do well to read Part 1 that highlights my initial concerns, and Part 2, which highlights why

analysis, shares, lic, pirate, henry morgan, insider, Stuart Mcauliffe
The Insider

Pirates fail the sniff test (Part 2)

Henry Morgan Pirates still uninvestable after another 100% gain
A few months ago, I had cause to look at the Pirates again. This time they were launching a new LIC on the Australian Stock Exchange (ASX), Benjamin Hornigold Ltd (BHD.ASX), I had turned my nose up at Henry Morgan Ltd (HML.ASX) that listed in early 2016, then watched the share price rocket from $1 per share plus a free option to $1.64 with the options now trading at 54c and the payment of a 20c dividend. It subsequently hit a

Fund, lic, managed futures, pirate, henry morgan, HHL, bridgeman
The Insider

Pirates fail the sniff test (Part 1)

Henry Morgan Pirates fail the sniff test but pull out a 240% return for investors – Arrr or is it Arrrgghh!
In light of the number of new Listed Investment Companies (LICs) that have come to market over the last year, I felt it would be beneficial to write about the analysis we did for a LIC we didn’t invest into.

The value of advice and analysis of investments we turned down can be easily overlooked. The benefit of advice is as much avoiding the disasters as it is picking the most

lic, managed futures, pirate, henry morgan, HHL, insider, aliom