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Thread: Ferreti ipo

  1. #11
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    Default Re: Ferreti ipo

    Quote Originally Posted by mikef View Post
    Mmm, I'm not sure you can take the blame/credit for that! I'm sure the forum is banned in China anyway
    Wow, is it? I wouldn't have thought that the asylum is worth the attention of the Chinese Politburo!
    Anyhow, it's hard to believe that their big Corporations can't get round web censorship, in this day and age...

  2. #12
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    Default Re: Ferreti ipo

    Quote Originally Posted by Portofino View Post
    Itís too small and fickle for institutional investors.

    The market ( buyers ) number is tiny in terms of unit delivery.
    There competition is world wide itís not a closed shop .
    It needs an extraordinary level of management decisions and hands on to turn a profit . If major players leave or are head hunted ......risky .

    Every year is a knife edge .


    Compare it to say Tampax , female sanity products .
    Well 1/2 the population are customers, as each woman menopauseís another girl starts periods , so a captive market .If only 1/2 or less ( development world ) uses them , then thereís a huge growth yet to be penetrated in India, Africa etc etc .
    So itís pretty obvious which business is a better bet of ...
    1- Not loosing your initial investment
    2- growth with a return .

    I donít see that double security with AN other luxury boat builder .

    Anyhow cynics suggest the largest funder wants a quicker exit .
    Thatís been halted .
    I see it as way of acquiring fast capitol to expand further raising revenues etc .
    Plan B is continue to grow the business by funding from traditional routes ( more expensive) to generate organic growth .
    The products will sell Iíve recently seen them all back to back .
    But is the revenue generated on there sales enough to fund the growth plan at the speed they want ??

    Itís gonna have to .
    What garbage!

  3. #13
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    17,758

    Default Re: Ferreti ipo

    Not all of it, in fairness.
    The comparison between Ferretti and Procter & Gamble made me ROTFL!
    Not to mention their respective products involved, luxury yachts and tampax...?!?
    I'm not going to think too much about it now, 'cause tomorrow I must wake up early, so I'm heading to bed.
    But that's bound to be a good start for some very funny jokes, I reckon!

  4. #14
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    Default Re: Ferreti ipo

    Quote Originally Posted by jfm View Post
    What garbage!
    Deja vu ,you said that a few years ago when I posted Fairline would go bust shorty after Sealine .
    But you never said why they wouldn’t.

    So why have Ferretti done this , the rational for the IPO followed by the cancellation ?
    Your view is welcome.

    Here’s the reason the main share holder doesn’t wasn’t out he wants the group to venture into super yachts , sooner rather than later .Basically he’s playing out a hobby and wants his own Co to build a boat for him .
    The CRN brand can and has only gone so far it’s topped out so to speak .
    So they need to buy an existing SY player to add to the stable of brands .

    What’s does this pic tell you ?



    Look carefully at the top LHS , the largest is the current majority investor the “ owner “ He was there with his entourage at the event , infact all of those SY,s sneakily at the end of the Yacht club .
    All the staff on there toes so to speak .The guy is passionate about boats , so passionate he bought the company.
    I mean why personality attend this event ? Why have a free bar for guests in the Yacht club etc etc .
    Why ship in Lionel Ritchie ( Simon le Bon and Elton previous years ) Cannes is just a few days away .
    He was walking around fussing like any proud owner of a lovely set of products.
    Keen to see potential punters reactions , of the geese that are laying the golden eggs .....the fleet of boats on display .
    The T/O of Ferretti is a drop in the ocean compared to his bread / butter businesses,
    I don’t think he wants out I think he wants Ferretti group to wade into SY territory as a stand alone and then integrate that brand into the group .The group benefiting from a bit of trickledown star dust .

    One day his group will be able to build a boat for him and his friends .The SY ,s at the end all had Chinese on board .
    At the moment he owns the biggest majority share of FG and had to go elsewhere for a suitable size boat .
    His mates must be ribbing him rotten.

    Note just in shot bottom LHS the recently purchase of Wally , a new debut btw .
    He’s trying to make the hobby pay but on a large scale .I think we can all identify with that .
    Last edited by Portofino; 18-10-19 at 07:35.

  5. #15
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    Default Re: Ferreti ipo

    Quote Originally Posted by Portofino View Post
    Deja vu ,you said that a few years ago when I posted Fairline would go bust shorty after Sealine .
    But you never said why they wouldnít.

    So why have Ferretti done this , the rational for the IPO followed by the cancellation ?
    Your view is welcome.

    Hereís the reason the main share holder doesnít wasnít out he wants the group to venture into super yachts , sooner rather than later .Basically heís playing out a hobby and wants his own Co to build a boat for him .
    The CRN brand can and has only gone so far itís topped out so to speak .
    So they need to buy an existing SY player to add to the stable of brands .

    Whatís does this pic tell you ?



    Look carefully at the top LHS , the largest is the current majority investor the ď owner ď He was there with his entourage at the event , infact all of those SY,s sneakily at the end of the Yacht club .
    All the staff on there toes so to speak .The guy is passionate about boats , so passionate he bought the company.
    I mean why personality attend this event ? Why have a free bar for guests in the Yacht club etc etc .
    Why ship in Lionel Ritchie ( Simon le Bon and Elton previous years ) Cannes is just a few days away .
    He was walking around fussing like any proud owner of a lovely set of products.
    Keen to see potential punters reactions , of the geese that are laying the golden eggs .....the fleet of boats on display .
    The T/O of Ferretti is a drop in the ocean compared to his bread / butter businesses,
    I donít think he wants out I think he wants Ferretti group to wade into SY territory as a stand alone and then integrate that brand into the group .The group benefiting from a bit of trickledown star dust .

    One day his group will be able to build a boat for him and his friends .The SY ,s at the end all had Chinese on board .
    At the moment he owns the biggest majority share of FG and had to go elsewhere for a suitable size boat .
    His mates must be ribbing him rotten.

    Note just in shot bottom LHS the recently purchase of Wally, a new debut btw .
    Heís trying to make the hobby pay but on a large scale .I think we can all identify with that .
    It's very hard to see any logic in what you write Porto. You say "I don't think he wants out" - are you serious? It was he who led the IPO (and there was plenty of secondary offering in the IPO - ie current shareholders trying to sell their shares). He pulled the IPO only due to valuation. Your "mates ribbing him" theory is very twee.

    Going back to your post that I called garbage, you miss the point of price/ value. Let's say Ferretti is valued at (say) Ä500m and Proctor and Gamble at Ä300bn, and you have Ä100 to invest, and let's say your theory is correct that it is better to buy P+G shares not Ferretti. Now what if the market (having read your post) raises the P+G market cap to Ä400bn? Are P+G shares still the better place to invest your Ä100? Of course they are not. So if you write that tampax making is a better business than boat building, therefore the former is the best place to invest, you can never be correct because you have not considered the price of the investment.

    Socially questionable things aside (like maybe guns or whatever) there are no bad investments; there are only over priced investments. You are much better investing in an inefficient boat builder at a price that undervalues the business, than in a tampax maker that is over valued. Your pretty picture of Monaco says nothing about whether Ferretti is a good or bad investment per se. It might tell you that Ferretti is a great investment at Ä500m and a lousy investment at Ä1.1bn, which evidently is precisely what the Milan stock market and Ferretti's owners both think.
    Not sure you see'll my point - the very same company whether boatbuilder or tampax maker can be either a good or bad investment - it just depends on price. So when you write that one is intrinsically good and the other intrinsically bad, that's garbage.

  6. #16
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    Default Re: Ferreti ipo

    Quote Originally Posted by jfm View Post
    It's very hard to see any logic in what you write Porto. You say "I don't think he wants out" - are you serious? It was he who led the IPO (and there was plenty of secondary offering in the IPO - ie current shareholders trying to sell their shares). He pulled the IPO only due to valuation. Your "mates ribbing him" theory is very twee.

    Going back to your post that I called garbage, you miss the point of price/ value. Let's say Ferretti is valued at (say) €500m and Proctor and Gamble at €300bn, and you have €100 to invest, and let's say your theory is correct that it is better to buy P+G shares not Ferretti. Now what if the market (having read your post) raises the P+G market cap to €400bn? Are P+G shares still the better place to invest your €100? Of course they are not. So if you write that tampax making is a better business than boat building, therefore the former is the best place to invest, you can never be correct because you have not considered the price of the investment.

    Socially questionable things aside (like maybe guns or whatever) there are no bad investments; there are only over priced investments. You are much better investing in an inefficient boat builder at a price that undervalues the business, than in a tampax maker that is over valued. Your pretty picture of Monaco says nothing about whether Ferretti is a good or bad investment per se. It might tell you that Ferretti is a great investment at €500m and a lousy investment at €1.1bn, which evidently is precisely what the Milan stock market and Ferretti's owners both think.
    Not sure you see'll my point - the very same company whether boatbuilder or tampax maker can be either a good or bad investment - it just depends on price. So when you write that one is intrinsically good and the other intrinsically bad, that's garbage.
    Steady on there fella, you've taken out the emotion and looked at it objectively. That'll never do.

  7. #17
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    Default Re: Ferreti ipo

    Quote Originally Posted by burgundyben View Post
    Steady on there fella, you've taken out the emotion and looked at it objectively. That'll never do.

  8. #18
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    Default Re: Ferreti ipo

    I can't understand how a sanity product and women can be associated.

  9. #19
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    Default Re: Ferreti ipo

    Quote Originally Posted by jfm View Post
    It's very hard to see any logic in what you write Porto. You say "I don't think he wants out" - are you serious? It was he who led the IPO (and there was plenty of secondary offering in the IPO - ie current shareholders trying to sell their shares). He pulled the IPO only due to valuation. Your "mates ribbing him" theory is very twee.

    Going back to your post that I called garbage, you miss the point of price/ value. Let's say Ferretti is valued at (say) €500m and Proctor and Gamble at €300bn, and you have €100 to invest, and let's say your theory is correct that it is better to buy P+G shares not Ferretti. Now what if the market (having read your post) raises the P+G market cap to €400bn? Are P+G shares still the better place to invest your €100? Of course they are not. So if you write that tampax making is a better business than boat building, therefore the former is the best place to invest, you can never be correct because you have not considered the price of the investment.

    Socially questionable things aside (like maybe guns or whatever) there are no bad investments; there are only over priced investments. You are much better investing in an inefficient boat builder at a price that undervalues the business, than in a tampax maker that is over valued. Your pretty picture of Monaco says nothing about whether Ferretti is a good or bad investment per se. It might tell you that Ferretti is a great investment at €500m and a lousy investment at €1.1bn, which evidently is precisely what the Milan stock market and Ferretti's owners both think.
    Not sure you see'll my point - the very same company whether boatbuilder or tampax maker can be either a good or bad investment - it just depends on price. So when you write that one is intrinsically good and the other intrinsically bad, that's garbage.
    Yes I agree with the last two paras . But you have not put fwd a theory why ?
    Even @ €2 he could get out anyhow and if a loss just offset it against the other profitable stuff he has .

    But I still think having seen the guy walking about at his show it’s a hobby and he wants somehow to get FG to build a bigger boat for him and similar friends so why not exhaust the availability of various ways of raising cash .
    Obviously if FG have warmed up a take over of a targeted SY builder then and he really wants it to proceed then he’s gonna have to raise the funds by another means , work down the tick box list , on that list somewhere is of course putting you hand into your pocket .

    So you guys think he wants out , I think he wants to go larger and involve SY s .An itch that needs scratching
    Like all hobby’s he will sell up and pack in , but not yet .
    Time will tell .

    @ Lloydroberts could be any utility product that can’t be done without by consumers and has growth , hasn’t reached its full potential of sales , Institutional investors like security and safety .
    Could be other P+G stuff like toothbrushes.Low tech low cost , low price but huge volumes world wide .
    Where as a FG boat what guess 375 units / year with fickle markets effected by too many variables and constant competition nicking sales . Risky place .

  10. #20
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    Default Re: Ferreti ipo

    Quote Originally Posted by Portofino View Post
    Yes I agree with the last two paras . But you have not put fwd a theory why ?
    Even @ €2 he could get out anyhow and if a loss just offset it against the other profitable stuff he has .

    But I still think having seen the guy walking about at his show it’s a hobby and he wants somehow to get FG to build a bigger boat for him and similar friends so why not exhaust the availability of various ways of raising cash .
    Obviously if FG have warmed up a take over of a targeted SY builder then and he really wants it to proceed then he’s gonna have to raise the funds by another means , work down the tick box list , on that list somewhere is of course putting you hand into your pocket .

    So you guys think he wants out , I think he wants to go larger and involve SY s .An itch that needs scratching
    Like all hobby’s he will sell up and pack in , but not yet .
    Time will tell .

    @ Lloydroberts could be any utility product that can’t be done without by consumers and has growth , hasn’t reached its full potential of sales , Institutional investors like security and safety .
    Could be other P+G stuff like toothbrushes.Low tech low cost , low price but huge volumes world wide .
    Where as a FG boat what guess 375 units / year with fickle markets effected by too many variables and constant competition nicking sales . Risky place .
    You miss my point...."sanity" and "women"????? Surely not...lol

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