Turnarounds and champions

8 Comments

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  blippy October 10, 2011 at 6:05 pm

  Game – I reckon that’s toast. I now disbelieve the whole cyclical play thing. I’m not a games player, but I did recently buy Deus Ex Human Revolutions. I love it, BTW. The real weird thing is that you get a DVD box, which basically just seems to contain the “Steam” system, and a registration code. You register the game, and download it from t’internet. An aweful way of doing things, but I think it demonstrates how Game are completely dead in the water hereon out. I think you can get lots of games and trials via the Steam system. I haven’t tried them myself.

  I’m glad you like Smith & Nephew, although I heard someone opine that the strength of its business is essentially bailing out some so-so management.

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  blippy October 10, 2011 at 6:09 pm

  Oh, I forgot to mention – I bought it from Amazon.

  So, game over for Game. (sorry, couldn’t resist the wordplay).

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    Richard Beddard October 10, 2011 at 6:53 pm

    Do you still hold HMV though Blippy. Same story, surely? They’re almost next door to each other in Cambridge. One painted black, the other panted white, but otherwise the same. Every time I go past I feel a strong sense of nostalgia, almost like they’ve already gone.

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      blippy October 11, 2011 at 12:07 pm

      I did hold HMV, but sold out in Jun 2010 at 57p – so ages ago. I bought in Dec 2008 at 108p. Not one of my more inspired buys (:groan:). It’s frightening to think that it has declined over 90% since even then. It’s very difficult to see HMV as anything other than a basket case at this point. Net debt 168m, market cap 19m, it has negative equity, and analysts forecast losses for the next two years.

      I had to look up Angry Birds on the internet, BTW. Saw this video on YouTube where the Birds were in court; and there was swearing. So I guess it must be different Angry Birds, or something. Beats me. I guess it must be some kind of FaceBook thing.

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        Richard Beddard October 11, 2011 at 5:59 pm

        I owned them in Feb 2008: http://blog.iii.co.uk/hmv/ but can’t believed I held for long reading what I was thinking at the time.

        Interesting looking back at those old posts.There’s a good discussion in the comments.

        I think Angry Birds is an iPhone app but what would I know – I’ve got a Blackberry (which is increasingly looking obsolete too)

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  Robert Johns October 11, 2011 at 7:38 pm

  Hi guys. It really is quite astonishing to see that picture of Game as just today I walked past my store near work in redhill and felt the same sentimental thoughts about this buisness and HMV, not to mention Richards list looking like a notepad doc on my desktop . I have brought 2 stocks in the drop. A house builder at 80.3p then 75.4p and a more specialist energy company at 13.3p. If I’m right in my thinking I prob won’t even need mention the names.

  Ahh Jersey electricity, I feel a fear here at this level. I know this angry birds, apparently David Cameron is a fan. Iv never played it but that deus ex is good fun.

  Blippy, I miss the days when you got a box full of disks, I like my £30 to weigh £30. Know what I mean.

  I have to say, I am rather stuck despite thorough analysis with say, Bhp Bill, Rio tinto which cashflow/p.e strain my against the liabilitys. Somewhat frozen in macro space is my feeling.

  I know a bit about Caffyns, secret I’m a afraid. Shame about the spread, nice management

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  Professor Professorson October 12, 2011 at 2:58 pm

  That picture of the Game store is a bullish sign! Cost control – no fancy posters from now on, just felt tips and paper for the staff… Surely that kind of thriftiness merits inclusion in your portfolio!

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    Richard Beddard October 12, 2011 at 4:46 pm

    Very good professor. You’re obviously not a professor of finance!

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