ON NOSE DIVES AND RECYCLING ... ....Returning to the subject of...

ON NOSE DIVES AND RECYCLING ...

....Returning to the subject of nosedives and history repeating itself, how come Morry and crew, some of the best fund managers in Australia have not previously come across NRW one of the best companies in Australia?


Well it looks like they did .
And it looks like they bought long and strong when they were Barclays Global Investments (BGI)

And it seems that around the time they left Blackrock it threw an absolute paddy and dumped all the beautiful NRW shares they had been buying !

The NWH HC thread 18/05/2010 from that time: Buying Opportunity is worth a read (thanks Josh and zebra and Valen? And everyone else. All the other threads are interesting too!)

Here’s a flashback to the AFR story postedcearlier in regards the history of our ‘new’ substantial holder :
... “Murray Waked had previously been the boss of BGI's Australian operations and then Blackrock's head of equities after the acquisitions.
..........Blackrock's head of equities after the acquisitions.
But he left Blackrock in March 2010, two months after other former BGI colleagues's such as Nick Burt, BlackRock's former head of research. Andrew Jackson, who took over from Waked after his departure, soon followed....”

Here’s the timing of announcements and links to the relevant notices:

Barclays Initial SH :19/08/2009...6.53%
Barclays change in SH :01/09/2009...6.53% to 5.52%
Barclays ceasing to be a SH: 04/12/2009

BlackRock becoming a substantial holder 15/12/2009 ...5.52% to 6.50% Blackrock and Barclays became Associates on merger.
BlackRock increase in substantial holding : 24/05/2010 ...6.50% to 7.53% (buying up to April 14, 2010)
BlackRock decrease in SH:24/05/2010 ....7.53% to 5.4% (selling fromApril 20, 2010)
BlackRock ceasing to be a SH :27/05/2010


(After the dust has settled Blackrock started buying again in May 2011 and became a SH again. :25/10/2011.....5.05%)

Another story from the day:
https://www.investmentmagazine.com.au/2010/03/morrys-men-pose-threat-to-blackrock/

So they bought and they merged, they bailed then Blackrock bailed and now they’re back

Broadcasting to everyone that NRW is not only the best, but it’s the kind of company no one ever forgets.