Greene King
I know it's only a bit of fun, looking at short term share prices, but I'm amused to note a 15% increase on the Greene King share price since I bought. 520p up to 600p (seemed to drop to 590p in the auction at the end of the trading day). So did I buy the right company at the right time?
No. Greene King underperformed all the other pub chains. Enterprise Inns was up 30%, Marston's and Punch were up significantly further than Greene King. So right sector, right time, wrong company. Maybe next time...
Enterprise Inns was up on news that it may become eligible to turn itself / part of itself into a REIT. Frankly I don't care. I didn't buy Greene King shares in the hope that it would reorganise itself, just in the hope that it would continue being a good pub company. I fully expect the irrational market to mark it back down to 500-520p over the next month or two.
Brilliant headline
My favourite headline of the year:
http://sharecast.com/cgi-bin/sharecast/story.cgi?story_id=2087171
"Consumers gloomiest since records began". Wow, that must be a long time. "...since the Nationwide began collecting data in May 2004..." Nice.
Gratuitous misquote
While we're at it, my favourite misquote of the year:
"Chairman Tony Howland-Rose was quoted as referring to major shareholder Jinchuan as ‘a right bunch of cookies'. The quote should have been 'a bright bunch of cookies'. The Australian apologises for the error."
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