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Are you MAN enough? (EMG)     

Velocity - 20 Jan 2005 21:49

I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through 14.00) however I am unsure as it has now broken down through 14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

Chart.aspx?Provider=EODIntra&Code=EMG&Si

mitzy - 17 Nov 2008 10:12 - 21 of 937

heading to the important 200p level.

HARRYCAT - 03 Dec 2008 11:14 - 22 of 937

Considering that this is a sector currently out of favour & also EMG went ex-divi a while back, the sp has held up well (currently 252p). Graph is looking positive, but 300p level may be tough to break.

mitzy - 03 Dec 2008 17:03 - 23 of 937

I agree Harry its looking great considering.

mitzy - 09 Dec 2008 17:45 - 24 of 937

Almost 300p today Harry I never would have thought it.

HARRYCAT - 09 Dec 2008 17:58 - 25 of 937

I'm out at 279p. Have divi plus profit (pumped in to IEC), so will now watch for a dip. Expect 300p to be a resistance level. As you say, amazing considering this sector is considered the bad boy, with customers wanting their cash at any cost.

mitzy - 09 Dec 2008 18:00 - 26 of 937

Well done Harry as you say 300p big level will it break it.

HARRYCAT - 12 Dec 2008 15:14 - 27 of 937

244p the low today. Glad I got out, but maybe worth getting back in again for another go at the 300p level?

hlyeo98 - 12 Dec 2008 22:34 - 28 of 937

Back to 200p more likely.

HARRYCAT - 13 Dec 2008 10:57 - 29 of 937

EK has been short for a while now. Are you also shorting this hlyeo?
I only really bought this for the divi, so probably won't get back in until next divi is due.

dealerdear - 13 Dec 2008 13:51 - 30 of 937

I got in too early at 300p on the collapse a few weeks ago so I've held on for the sp to recover. Fortunately I was able to get out this week at the same mark.

Falcothou - 14 Dec 2008 20:58 - 31 of 937

From today's Times ...
Re. Man group due diligence
Horlick claimed that Madoffs advisers said the firm had been subjected to a full-scale investigation by the US Securities and Exchange Commission twice in the past two years. She also stressed that international accountancy firms had been auditing funds with exposures to Madoff.

She added that Bramdeans investment performance had been very strong, aside from the potential Madoff losses. Bramdean was about to redeem some money from the Madoff fund when the scandal broke.

She continued: I never met Madoff he didnt meet any investors. All contact was through these feeder funds that supplied him with the capital. The strategy we were supposedly buying into was very conservative.

There was extensive due diligence being conducted on the funds by our advisers, who are part of Man Group. He must have been matching the amount of money he paid out to what would have happened had he followed the strategy that he said he was following.

mitzy - 14 Dec 2008 21:41 - 32 of 937

Chart.aspx?Provider=EODIntra&Code=EMG&Si

HARRYCAT - 14 Dec 2008 21:42 - 33 of 937

Mitzy, can you put a 50 & 200 DMA on that graph, otherwise not much to go on?

justyi - 15 Dec 2008 07:35 - 34 of 937

Man Group, the London-based fund manager, had roughly $350m lodged with Madoff via its RMF operation. Bad luck.

mitzy - 15 Dec 2008 13:53 - 35 of 937

Horlicks is suffering from Mad cow disease poor thing.

mitzy - 22 Dec 2008 13:07 - 36 of 937

Chart.aspx?Provider=EODIntra&Code=EMG&Si

still falling sub 100p is my target.

HARRYCAT - 22 Dec 2008 15:38 - 37 of 937

This is interesting because the selloff is presumably as a direct result of the Madoff link. The sp was steadily rising, even in a time when this sector was out of fashion, so the current downside surely must be a kneejerk reaction to the bad news. However "This investment (Madoff losses) represents approximately 1.5% of RMF's funds under management, and 0.5% of funds under management for Man Group as a whole", which in the grand scheme of things is a tiny amount. Even though the stock has gone ex-divi (which I imagine they are regretting now), the drop in the sp seems to unfairly reflect a very small loss via RMF. Maybe it's just another case of confidence being eroded in a shakey sector, or the possibility of more bad news?
I do not currently hold, but sub 200p would seem to be an over reaction & is worth watching, imo.

mitzy - 22 Dec 2008 15:44 - 38 of 937

I agree Harry its a Madoff thing.

mitzy - 29 Jan 2009 21:40 - 39 of 937

I dont hold but am watching for an entry @160p.

mitzy - 04 Feb 2009 11:58 - 40 of 937

Still in a downward trend despite todays rise.
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