TSX:DHT.UN - Post by User
Comment by SONOFFERGUSon Sep 09, 2024 4:49pm
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Post# 36215480
RE:RE:RE:RE:NCIB tapped out...
RE:RE:RE:RE:NCIB tapped out...Answered Q2 -- reviewed by outside counsel and accountants who found no effect on assets, contracts, cash flows. No w-rotten apples left!
Better to take advantage of weak hands than to have weak hands -- weak-handed investing often leads to buying high on momentum and selling low when it breaks. The market is there to facilitate trades, not to tell you what anything is worth.
Take a look at fundamentals and tell me what the price should be without looking at what weak hands will sell at. Do you think a 10ish% discount to book is the right answer when its market comp is 2x book?
Goldman Sachs has been an active buyer, FWIW. It is probable, but not certain, that they are not buying for someone's retirement fund, their prop book is buying to make 2024 profits. Step one is quiet accumulation. Step two is fast accumulation in a quiet market (Friday lunch hour?) to cheaply take out technicals ($13 the most obvious but they may target others). Step three is quiet selling as technical traders and returning weak hands bid the price up.
How much downside is left here? To CAD11 (bought deal price a year ago) maybe? How much upside? This year to $15, one year out at average PT $20ish? As an investor -- not a day or swing trader -- I like that math.
Dunno what you are -- sad guy in mom's basement I expect -- but I do appreciate the opportunity to sharpen my investment thesis.