September 10th

Like a yo-yo. Missed the selling opportunity if I were playing the channels, but I'm not. Holding tough with this one as I like the company.

Wait for move closer to 400 before buying again.

Significant Dates (approximate)

Interim Results ~18th January
Interim Ex-date ~23rd January
Interim Management Statement ~10th March
Year End ~31st May
Trading Update ~9th June
Annual Results ~19th July
Interim Management Stmt ~9th September
Final Ex-date ~9th September
Trading Update ~9th December 
TECHNICAL
Picture
Picture

BUY

 

SELL
Net Debt at 45m is low and less than 3x profits.
FUNDAMENTALS
Figures/Graphs based on 2011 adjusted figures.

"[1] Excludes amortisation and impairment of intangible assets arising on consolidation.

[2] Excludes amortisation and impairment of intangible assets arising on consolidation and related tax adjustments.

[3] Excludes Japan, to facilitate full year-on-year comparison."
"Moat" Much better trading platform compared to competitors. Tighter spreads on offerings. Market leader. Innovator. 
SECTOR
What's the P/E compared to it's sector? "General Financial" @ ~21. IG Group @ ~15?

(http://markets.ft.com/research/Markets/Data-Archive > Equities > FTSE Actuaries Share Indices - UK Series )
BUSINESS
Is the business simple and understandable?
Are it's markets likely to improve or get worse?
Where is growth going to come from?
MANAGEMENT
Is management rational?
Is management candid with it's shareholders?  
Does management resist the “institutional imperative”? 
Market Cap.: 1.6m +
NMS Size?: Presumably OK.
Bid/Ask Spread: OK
Investor Relations: Very good website.  http://www.iggroup.com/corporate/ii_index.html
DEAL?
Billionaire's Hat?
TIMING