began last Thursday a public company 30% of the capital of BME (Bolsas y Mercados English). This company is a holding company that includes the stock of Madrid, Barcelona, \u200b\u200bValencia, Bilbao, and Meff Latibex (those of equity derivatives) among others.
I was about to buy. My view is that high or low the stock market, brokers must always pay a commission. Ie BME always wins. When told that the maximum price was 33 euros ajudicación, I canceled my order.
The problem of the IPO (public offerings) is that you do not know what price you buy. The purchase price range was between zero and 33 euros per share. I had to decide whether to cancel the order or not before knowing the final price.
As those who decide the price are selling, it is usually closer to 33 than to zero. If BME had come to 33 euros, this would be a PER of 27 years (the PER is the time when the company earns per share, the stock is worth at this moment). Well, for me is high. Some companies like Google that have a PER of 40 years, but people expect to have more benefits in the future and lower the PER and others as having a PER Zeltia 200 years. Others, like Terra or Jazztel, simply does not have PER, because benefits have never had. The lowest PER bag has it (well, it was before the appearance of the friend EVO) Repsol with a PER of 8 years.
The case, which ultimately BME se ajudicó a 31 euros por acción. El primer dia de cotización, empezó a 30 (una caida de más de un 3%) y aunque estuvo casi todo el dia sobre los 30.50, al final cerró a 29.75. Hoy, lunes 17 de Julio, ha bajado un poco más hasta los 29.60.
Me parece un valor interesante para entrar por debajo de 30 euros por acción. Pero le veo dos incovenientes.
El primero es sobre su futuro. Las bolsas de todo el mundo no paran de comprarse unas a las otras y aunque ahora BME tiene el monopolio sobre España, quien sabe si lo tendrá dentro de 10 años. Pero al igual que otras empresas de bolsas pueden entrar en España, BME puede salir fuera de España.
El segundo es un factor psicologico. Ahora mismo all who bought BME think they have screwed up and want to sell. Some now before it falls over and a lot are waiting to reach 31 to recover the money. This is what happened to Telefonica Moviles. Since leaving a handful of years ago to 11 euros, the price has never recovered. Whenever I approached this price, people sold to recover their money. Now going to get 4 shares of Telefonica for every 5 phones. And thanks to this Mobile has overcome some days the 11 euros, since the price is 0.8 times that of Telefonica. BME
recover I think the 31 euros by the end of summer and not have the problem you experienced cellphone.
Eye, think not that BME is a ball is a value for grandparents. It is an established business and do not expect to rise much like it did Terra or Google, if you may be more parececer Banking sector or electricity, and can act as safe haven (when the stock market tanks is when there is more volume, and that is when most wins BME).
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