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Aberdeen Australia Equity Fund Message Board

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  • Reply to

    Nice upward movement!

    by josephfrank Apr 1, 2014 11:42 AM

    Much of last year, this traded at more than $1 above NAV. Currently it is trading only .20 above NAV. Should have further upward movement over the next few weeks in my opinion.

    Sentiment: Buy

  • Recovering nicely from lows.

    Sentiment: Buy

  • Reply to

    Dropped from10 to 8

    by wright.tom64 Mar 19, 2014 7:30 AM

    Hi msteucek,

    Thanks for replying.

    I'm a little unhappy with yahoos (new to me) message boards - I used to post quite a bit many years ago and my only complaint was with some of the content (pump and dump - shorts bad mouthing and that kind of thing).

    Black Creek Farm is in Jeffersonville VT- a good hour north of Chelsa- on the other side of Mt Mansfield from Stowe. The farm is no longer in operation, but the name goes on.

    I'm sorry that your earlier note didn't come through. If you still have your original reply please feel free to send it to my email address - blackcrk@sover.net. (I know many will think it unwise to post email addresses here, but our email has been on the web since 1995 and the traffic is so low here, I'm quite certain that it won't generate much more spam than we already receive).

    Sentiment: Hold

  • Reply to

    Dropped from10 to 8

    by wright.tom64 Mar 19, 2014 7:30 AM

    I sent a reply to BlackcrkFarm,but Yahoo's message board is #$%$. I've been a holder of CRVP since 2002
    with my buy of CRVP at $4.50 ish. Have dollar averaged down to $1.62.Got with in twenty cents last month.
    Where's BlackCreek farm in VT. I bought some Blue Spruce seedlings from Red Rock Farm, in Chelsa,VT.
    A day trip from CT,. Stuce

  • Reply to

    On the avoid list

    by wright.tom64 Jan 28, 2014 10:23 PM

    I too have held CRVP for quite some time. They bottled for several labels and ran 3 shifts,and a nephew worked for them.Said they were going balls to the wall.Started buying at $4.50 ish in 2002,averaged down to cost per share of $1.62. Where's BlackcreekFarm? I bought some blue spruce trees in Chelsa,Red rock farm.A day trip from CT

    Sentiment: Hold

  • Reply to

    Dropped from10 to 8

    by wright.tom64 Mar 19, 2014 7:30 AM

    Hello Wright.tom64,

    I'm sorry, but I'm really not fully understanding your posts. I saw the "avoid" rating on IAF, and I believe that it did have a negative effect on the price. I think IAF is currently suffering from many potential problems, including the avoid list, the weak Aussi dollar, and fears of a China economic slowdown, etc., etc.

    I'm sorry, but I'm having trouble understanding what your post is trying to convey to the other members of the message board.

    Before getting too upset, you should look at the gain on your investment in IAF over the last few years. If you are upset because the stock market gained about 30% last year while your IAF lost 20% or more, that's what diversification is really about - take a look at any of the stock market indices after the 2008 financial crisis and the big drop there- nothing goes on forever.

    Bottom line is - diversification- as Carol King said - sometimes you win, sometimes you lose.

  • Then it went on avoid list. Now it is back over 9. Will it go back on buy list after it recovers all the way back to where it should have been put on avoid list (10) to begin with? Sarcasm intended.

  • Reply to

    On the avoid list

    by wright.tom64 Jan 28, 2014 10:23 PM

    I would like to offer an apology to yanisbagman and Wright. I'm not quite sure what happened here tonight but I responded to yanisbagman based on only one of his/her posts ( 1 saw one from yanisbagman and one from wright tonight). After I posted my response to yanisbagman I checked to see if my note was posted. It was and all of a sudden I'm seeing that there are many,many notes on this subject that I wasn't aware of.

    I'd just like to make it clear that my post was based on only the very last notes that you posted.and I'm guessing that I'll be asking Yahoo why this happened. I'm looking forward to reading your earlier notes and sorry if I was out of line based on any of your earlier exchanges that I wasn't aware of. For full disclosure, I should add that I haven't logged into my Yahoo account for several years until a day or two ago. Perhaps they hobbled me for security reasons.

    I'd just like to close by saying that I'm looking forward to reading your earlier posts on IAF, and I'm sorry if my earlier response contradicts some of the details in your earlier posts.

    Sentiment: Hold

  • Reply to

    On the avoid list

    by wright.tom64 Jan 28, 2014 10:23 PM

    Just MHO,

    I wasn't sure who to respond to first about IAF, but I picked yanisbagman (only because it was the last post I read).

    If anyone expects any CEF (close end fund) to be able to pay the full distributions that often run in the 8-10% per year range without ever having to cover some of the distribution without some ROC (return of capital), I think their expectations are probably a bit too high. There are some very serious challenges for IAF, as yanisbagman says, but I guess I would only agree with yanisbagman's first sentence if he/she is suggesting that for the distribution fund to "work", that means that the CEF fund needs to consistently deliver their distributions all of the time (not just during extended bull runs) without relying on ROC some of the time. That just doesn't happen if you look over a long enough period of time. As far as the price falling below NAV, that's due to buyer sentiment, CEF's seem to be out of favor now perhaps due in part due to the relatively low CEF managed distributions of 8-10% compared to the 20-30% gains in stocks and mutual funds during 2013.

    There is no question that IAF does have some serious challenges and I'm thinking that the avoid recommendation referred to in the earlier post may have amplified the drop in price.

    blackcrkfarm

    P.S. I no longer usually post to Yahoo message boards (this is my first post in 5 years or more) as it was my general belief that most messages were from longs looking to increase stock price or (mostly) shorts looking to get the stock price to drop dramatically. I sincerely believe that if there were a ton of people following IAF on this message board, the earlier posts might be intended to extend the selling pressure on IAF to get the price lower. However, if there is anyone (including yanisbagman and wright(?)) that is interested in having a sincere discussion about this fund (or other CEF's that I'm interested in) I welcome any communication.

    Sentiment: Hold

  • The 10 year mining rampup has come to an end. After Exxon completes construction of its floating nat gas processing plant, it will be moved to Aust western coast. This will begin the nat gas development /production ramp up. You should research Exxon's activities in this region.

    Sentiment: Strong Buy

  • Reply to

    On the avoid list

    by wright.tom64 Jan 28, 2014 10:23 PM

    These "distribution" funds only work during extended bull runs. A lot of the stock "cefs" were great during the 90's but the severe corrections of the first decade of the 2000's killed them. Iaf needs a long recovery on materials demand, the whole China/Australia cycle to rev up again. I did buy some Iaf in December at $8.44, sold in January at $8.96. Watching it again but in no hurry.

    Good Luck.

  • Reply to

    On the avoid list

    by wright.tom64 Jan 28, 2014 10:23 PM

    I love that the big boys issue an avoid warning after the damage has been done.

  • Well, this is certainly something I think the market has recognized over the years. Virtually no gain in NAV coupled with paying distributions out of paid in capital begins to make me wonder why I am holding onto this fund. If the Aussie market takes off the shares might move back to the 10 range but I do not see a lot of growth here. Perhaps the managers should consider distributions differently and more in line with actual gains in the funds holdings.

IAF
9.04+0.04(+0.44%)10:11 AMEDT

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