I’ve bought back the AGR shares recently sold 24,159 for 10k.
It’s most probable the Snowball could have made a bigger profit with WHR as it’s now in ‘play’. But whilst making a profit is a positive, as you increase the size of your Snowball, the only consideration is the dividend to buy more shares that pay a dividend. The dividend with AGR is fairly secure and there is still the outside chance they will agree a deal with the bidder at a higher price.
That completes the buying for the Snowball, so most probably any dividends earned this year will be added to the highest yielding shares in the portfolio rather than opening a new position.
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Statement regarding Warehouse REIT PLC (“Warehouse REIT”, or the “Company”)
Blackstone Europe LLP (“Blackstone”) and Sixth Street Partners, LLC (“Sixth Street”) on behalf of certain of their respective affiliated investment funds or vehicles (together the “Consortium”) note the recent media speculation in relation to Warehouse REIT.
The Consortium confirms that on 23 February 2025 it made a fourth indicative all cash proposal to the Board of Warehouse REIT of 110.5 pence per share for the entire issued and to be issued share capital of Warehouse REIT (the “Fourth Indicative Proposal”). This proposal, which follows three prior proposals, was rejected by the Board of Warehouse REIT on 28 February 2025.
The Fourth Indicative Proposal, which is inclusive of the third interim dividend of 1.6 pence per Warehouse REIT share declared on 19 February 2025, values the issued, and to be issued, ordinary share capital of Warehouse REIT at approximately £470 million, and represents:
· a premium of 34.1 per cent to the closing price of 82.4 pence on 28 February 2025;
· a premium of 34.8 per cent to the 1-month volume weighted average share price of 82.0 pence on 28 February 2025;
· a premium of 36.9 per cent to the 3-month volume weighted average share price of 80.7 pence on 28 February 2025; and
· a premium of 0.8 per cent to the two-year high closing share price of 109.6 pence on 17 April 2023.
The Consortium believes the Fourth Indicative Proposal provides a highly deliverable and compelling alternative to shareholders, attributing a full valuation for the Company and its future prospects.
The Consortium is considering its position and accordingly there can be no certainty that any offer for the Company will be made.
Christopher Ruane has been poring over the latest shareholder letter from investor Warren Buffett. Here’s a handful of stock market insights he gleaned.
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Christopher Ruane
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Last weekend, Berkshire Hathaway Chair Warren Buffett released his annual shareholders’ letter.
It contained some nuggets of investing wisdom, as always. Here are five that caught my eye.
1. Compounding can have incredible effects
Berkshire paid one dividend under Buffett decades ago but has preferred to plough its profits back into building the business ever since.
That is known as compounding. A private investor can do it even with a small ISA, by using dividends to buy more shares.
Buffett is a fan and referred in the letter to “the magic of long-term compounding”.
2. A long-term approach to investing can be lucrative
Clearly, as a compounder, Buffett believes in investing for the long term.
Indeed, he pointed to just how lucrative such an approach can be when it comes to taking a “buy and hold” approach to share ownership.
He wrote that Berkshire’s time horizon, “is almost always far longer than a single year. In many, our thinking involves decades. These long-termers are the purchases that sometimes make the cash register ring like church bells”.
3. Be realistic about your investment capabilities
Buffett is among the most successful stock market investors in history.
Yet he recognised that even he can and does make errors: “I expect to make my share of mistakes about the businesses Berkshire buys”.
If that is true of Buffett, it is undoubtedly true of a small private investor like me. This is why I pay close attention to risks when looking for shares to buy.
4. Buy the business, not just the management
In the past Buffett has said that – while he obviously appreciates great management — he likes to invest in businesses that could be run by an idiot, because one day they might be.
As he explained this time around, “a decent batting average in personnel decisions is all that can be hoped for”.
5. Shares can be an easy way to buy a stake in a brilliant business
I found this idea very interesting: “really outstanding businesses are very seldom offered in their entirety, but small fractions of these gems can be purchased Monday through Friday on Wall Street and, very occasionally, they sell at bargain prices”. I would add this happens in London, too.
Warren Buffett’s investment in Coca-Cola (NYSE: KO) is an example.
Coca-Cola has some outstanding business characteristics. Its target market is large, resilient, and spans the globe. The company’s brands, proprietary formulas, and distribution network all help set it apart from rivals.
I see them as long-term competitive advantages. Some of the marketing money Coca-Cola is deploying today will still be influencing shoppers’ purchase decisions decades from now.
Yes, there are risks. Shifting consumer tastes mean sweet drink sales volumes could fall. Packaging cost inflation has added substantial costs in recent years.
Still, Coca-Cola is a profit machine that has raised its dividend per share annually for over six decades.
It is very difficult to buy such a company in its entirety. Warren Buffett has the necessary financial firepower, but companies like Coca-Cola are rare and rarely for sale in their entirety at an attractive price.
As Buffett noted in his letter, though, the drinks maker’s shares can be bought on the New York stock exchange by even an investor of very modest means.
The Company also announces a quarterly interim dividend of 1.95 pence per share for the quarter ended 31 December 2024, in line with the dividend target of 7.80p per share for the year to 31 March 2025, as set out in the 2024 Annual Report – which represents a yield of 11.1% on the closing share price on 13 February 2025.
The comparison share for the Snowball is VWRP Vanguard FTSE All-World UCITS ETF Accumulation unit where any income is re-invested back into the ETF
100k invested in the above ETF on the start date of the Snowball.
IF the Snowball makes 10k of income this year, it’s not guaranteed but it’s easier to make a comparison, that should earn another £700/£800 of extra income next year when it’s re-invested.
To earn £800 of income if your plan is to use the 4% rule for your retirement, you would need to make a capital gain of £20k with VWRP. GL with that.
Of course VWRP may fall but that’s a discussion for another day.
