Monday, Nov 20, 2006

Foxtons calling the top of the market?

TimesOnline: For sale: Foxtons to offer its shares in 400m float

The plans for a share listing, which are said to be at an early stage, come at a time when property prices, particularly in London, are reaching record levels.

Posted by denzil @ 10:36 AM (467 views)
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1. Dohousescrashinthewoods said...

True to character, very sharp practice.
Inflate the bubble, capitalise at the peak and retire to Bermuda. Too bad the customer/investor suffers for the profits.

Anecdotally, I know of a top-level person at a property firm who has been quietly disposing of shares because they believe they will be worthless next year.

I would expect to see Jon Hunt making a swift getaway after the float (with a big sack labelled "swag")!

Monday, November 20, 2006 12:48PM Report Comment

2. bidin'matime said...

Reminds me every much of the independents all selling out to the banks and so forth just before the last crash. I like the bit about spending 12m in the US five years ago and no profits to date from this (6m loss last year). Time to cash in some of those shares, Mr Hunt...

Monday, November 20, 2006 01:35PM Report Comment

3. Sam said...

Would be nice to get a good deal on a used mini when it all goes tits up.

Monday, November 20, 2006 04:55PM Report Comment

4. nearly30 said...

Would love to see headlines of the demise of Foxtons - in epic proportions like Enron or more realistically Ratner.

What berk investor would buy shares in a business with such a dubious history?

Foxton's strategy looks like they fear their future livelihood when faced with the wrath of an omberdsman - god knows what they are hiding there then?

Would love it to be a a group of venture capitalists that take the 'risk'.

As for Harry Hill running Countrywide - you couldn't make it up!!!

Monday, November 20, 2006 08:56PM Report Comment

5. Nohpc said...

I don't think Foxtons are worried. They can survive the worst of houseprice crashes. They are so huge and aggressive and have a lot of money behind them. In fact I can see a situation where they are the only estate agent surviving.

Monday, November 20, 2006 10:59PM Report Comment

6. denzil said...

Nohpc said:
>>I don't think Foxtons are worried. They can survive the worst of houseprice crashes.

Don't agree, companies like Foxton's come and go, always have done and always will.

Tuesday, November 21, 2006 08:33AM Report Comment

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