Alliance Trust: critics and supporters line up as Cazenove comes up with interesting new metrics


#1

Elliott increases stake ahead of the AGM vote on April 29th as JPM Cazenove applies different valuation metrics with interesting results. The battle f
[See the full post at: Alliance Trust: critics and supporters line up as Cazenove comes up with interesting new metrics]


#2

So the Cazenove research shows that they didn’t under perform as much as the index whilst other research shows how much better I and other shareholders could have done if we’d bought Scottish Mortgage or Bankers etc.

I didn’t support the Laxey guys and while I don’t completely trust the Elliott hedge fund I think the current team have had long enough to turn things around.

I think this time I’m voting to bring the the new proposed Director’s on to the Board. I agree with Cazenove that they should say something about their intent, I don’t think I would support a massive chunk of the trust being liquidated, I don’t need cash, I need my investments to grow.

I think voting in favour of the motion will bring about change and change is needed at Alliance Trust.


#3

I don’t hold shares in Alliance Trust but I rather hope Elliott succeed in replacing the Board too but I think they shan’t. I would buy the shares at the drop of a hat if I though they would because I would be attracted by a more focused trust that was smaller and paid me back some of my money at a profit for me to reinvest, and the smaller size would make a little nimbler.

This beast has over £3b of assets so selling down say 40% or so would still leave it as a £1.8b trust and with decent invest performance it would be back to being over £3b again in a few years time.

I don’t know why so many investors get so caught up in worrying about the short termism of Elliott or their predecessors at Laxey. We’re all in investments such as these to make some bloody money, so lets make some and reinvest our profits elsewhere.


#4

I do hold them and I am still pondering my move. I think I’m moving increasingly to the supporting the Elliott resolution camp because a little bit of a shake up is healthy in my view and as @mammon states we’re all in this to make money, so in that regard Ellliott’s interest are aligned with mine, at least our short term interests if not long term.