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SEK, SEEK LIMITED
nipper
post Posted: Feb 23 2021, 03:26 PM
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SEEK eyes a split as Bassat hands reins to Narev

Co-founder Andrew Bassat is stepping down from his chief executive role to be succeeded by former Commonwealth Bank chief executive Ian Narev.

SEEK is also in advanced discussions about a sell-down of its interest in Chinese job listings marketplace Zhaopin from the current 61 per cent to 23.5 per cent that would value Zhaopin at $2.2 billion.


QUOTE
The Board believes SEEK Asia Pacific & Americas and SEEK Investments can benefit from a greater degree of independence and focus, and is in a unique position to have two experienced executives lead its operating business and its investment arm

.. The Board is reviewing options and targeting the following outcomes:
o SEEK: To focus on the growth opportunities for the AP&A business and relevant adjacencies, whilst retaining economic exposure to Investments and Zhaopin
o Investments: To focus on being an investor and business builder that partners with emerging leaders to support their aspirations and deliver strong long-term returns. Keys to its success will include the ability to operate independently and access third party capital





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
Mags
post Posted: Oct 29 2020, 01:46 PM
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In Reply To: nipper's post @ Oct 29 2020, 10:25 AM

Thanks nipper, after seeing what these boys (the orca boys were IIRC Glaucus) did to blue sky, I'd bail on this one.
They are likely to be playing it conservative: They said BLA were ~$2.60... Turned out they were total junk: My mate lost a fortune after believing the BLA story.


 
nipper
post Posted: Oct 29 2020, 10:25 AM
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Texas based activist short seller Soren Aandahl from Blue Orca has taken on Seek, claiming that its business Zhaopin is full of junk listings.

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Companies we called about their job postings on the website even stated directly that the posts were fraudulent. Our due diligence also uncovered a whistleblower claim by a Chinese college student alleging that Zhaopin pays people to submit fake resumes, Blue Orca writes in research released at 10.29 AEDT.

The short seller also claims that Seek is a rollup, reliant upon capital markets to fund acquisitions, and the true nature of its leverage is much higher than the reported 3.2 times net debt to EBITDA.
QUOTE
Rather than valuing Seek as a fast growing online recruiting platform, we value Seek for what it is ...a slow or no growth platform whose core business is shrinking and which carries a dangerous amount of debt.

Blue Orca reckons Seek is worth only $7.20 a share. It's down 9.5 per cent on Blue Orca's report.

Seek is among the top 30 most shorted stocks with 5.23 per cent of the register loaned out to speculators, according to data compiled by Shortman.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
arty
post Posted: Dec 23 2016, 10:13 AM
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watch for a Higher High. If proven, it could signal a trend reversal-cum-buying opportunity.

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(I'm not holding atm)



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Jul 4 2016, 12:52 PM
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neat summary of a sector that is said to be inefficient, open to disruption,
.... and yet "recruitment in ­essence remains a human-to-human activity".?
QUOTE
..former head of listed salary packager McMillan Shakespeare and insurer AAMI, Michael Kay, attests to the enormous cost of finding and hiring new workers. Now chairman of the recruitment platform ApplyDirect, Kay says AAMI experienced 20 per cent turnover in its 3500-strong workforce."Because we were growing at a compound annual rate of 18 per cent we were recruiting in excess of 1000 people a year,'' he says. "Recruitment was a constant ­frustration''.

Given this, the insurer was forced to use recruitment agents, who typically charged 10-15 per cent of a call centre operator's first year salary (and much more for a senior position).

Last year the Productivity Commission valued the recruitment sector at $11 billion and Kay reckons half of this amount is wasted. "We are very attracted to what looks like a very inefficient industry.''

The size of the prize has spurred a new land grab in the listed recruitment sector, 1½ decades after Seek began to inflict enduring pain on traditional print ads. While their mantra varies, the newcomers strive to displace ­traditional recruiters in favour of a direct sourcing model between candidate and employer. It's also about finding talent in a game where only 25 per cent of jobs are filled by advertising, even less so for high-end positions.

Last month both ApplyDirect (AD1) and LiveHire (LVH) listed with mixed results, following the path blazed by the fallen hero 1-Page (1PG) in October 2014.

Seera, co-founded by former Seek executive Bradley Burchall, is eyeing an IPO next year based on a "people management platform'' that also tracks an employee's performance post hiring.

Three other recent IPOs — CVCheck (CV1), Tikforce (TKF) and Xref (XF1) — are involved in automating the process of verifying the credentials of both candidates and employees.

Given the hyperbole and the inexecrable jargon about talent communities, curated pools and cloud-based platforms, it's ­impossible to know which player has a sustainable model with a half-decent chance of developing the requisite scale.

Nick Waterworth, who heads the traditional white-collar recruiter Ambition (AMB), acknowledges the sector's seismic shift.

"There's no doubt we are in the middle of the second massive land grab in the online space,'' he says. "Quite a few plays will work and quite a few won't work. From an investor point of view, trying to work out which one falls in which category is a bit tricky. "Just because it's online and has a groovy name and a website doesn't mean it is going to work.''

Industry legend and now LiveHire chairman Geoff Morgan says no single model is likely to prevail, partly because recruitment in ­essence remains a human-to-human activity.

Globally, he says, many companies still swear by the old newspaper method (god bless 'em). Others go to the other extreme and use robo-call techniques to winnow candidates. "There is never going to be one perfect way because we are talking about human beings whether they are candidates or employers,'' he says.

An irony of the advent of online job ads is that it's made the process harder for both parties. According to Morgan, five years ago the average job took 20 days to fill and now it takes 40 days. "With a click of a mouse people can apply for 1000 jobs,'' he says. "This clogs up the employers' time, while genuine candidates who apply never get a response.''

While the sector looks a fat goose ripe for plucking, executing a profitable strategy as a small listed entity is the toughest of jobs.

1-Page shares listed at 20c and famously soared to a peak of $5.69, valuing the entity at a fruity $870 million. With the envisaged revenues and big-name paying clients slow to materialise, investors have taken a reality check on a patently overvalued play. As its name implied, 1-Page's schtick is to sift candidates via a succinct one-page summary. The business model also provides a structured way for current employees to refer suitable outsiders.

According to rivals, the model was too cute by half and was poorly explained and understood. "We just don't see them in the market,'' one of them says. "It probably doesn't help that they're based in Silicon Valley and not here.''

The newcomers aren't exactly cursing 1-Page: despite the ultimate disappointment, the initial runaway success of the listing sent brokers scurrying for other HR plays. "(1-Page) gave us a path to listing in the early days,'' Kay says. "But we were preparing to list at the end of last year when they crashed and burned, so couldn't proceed.''

A key impediment for the newcomers is developing meaningful scale.

LiveHire's offering centres on a cloud-based "talent community'', with subscribing companies paying a 50c fee for each connection with a candidate (the company claims a current pool of 100,000 job seekers). LiveHire's cornerstone client is Melbourne's Alfred Health hospital network, with 8000 employees. "It's about building a talent pool and keeping the talent pool fresh,'' Morgan says. LiveHire claims "no known peer in the sourcing and recruitment space''. In a sense, it's redux version of an old fashioned jobs board concept. Unlike Apply­Direct which has banished ­recruitment agents, these intermediaries can be involved on the LiveHire platform.

ApplyDirect claims 75 paying employers including BUPA and Optus. ApplyDirect also powers the job website for the NSW ­government, the country's biggest employer. Ultimately, ApplyDirect's ­success lies with converting 600 more non-fee paying employers who were given early access to the platform.

According to Ambition's Waterworth, there will still be room for the "high touch, high price bricks and mortar presence'' of the traditional recruiter, in the same way that physical travel agents and stockbrokers have survived. "But it's a little bit fuzzy at the moment,'' he says. "There is room for pure online plays and disrupters but there are too many around.'

Meanwhile, the $5.2bn market cap Seek (SEK) shows few signs of becoming a disrupted disrupter. Upping its stake in Brasil Online and Seek Asia last month, Seek affirmed current-year earnings guidance of $175m and made an early stab at 2016-17 net profit of $215m-220m. Seek has also made successful forays into education both domestically and through its Chinese business Zhaopin, which should also hedge the company against any weakness in its mainstay local jobs business.

Sniffing out the next Seek in the recruitment sector
  • The Australian




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: grevillia  
 
vinky
post Posted: Oct 19 2012, 07:49 AM
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test

 


Nick1970
post Posted: Oct 7 2011, 09:18 PM
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In Reply To: arty's post @ Mar 25 2011, 08:13 PM

What are your thoughts now Arty? I like it from the short side - target $5.00?



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Use a stop loss every time.
 
arty
post Posted: Mar 25 2011, 08:13 PM
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Time to revisit SEK: Today's scan brought it up.
On the Daily chart, we could see a Bullish Divergence; but the first MACD Low was created by the massive gap-down in mid-February, so any lower Low was quite likely to be less vicious.

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But when I switch to the old weekly chart and strip away everything but price candles, an interesting flag/ pennant/ rectangle shows up. What's more, the recent Low not only matches up with several support/ resistance events in late 2009/ early 2010, but is also right on Fibonacci level 61.8%.
No guarantees for anything, but I'll watch it: A move back into the February gap would increase the chances of a substantial rise.

Attached Image





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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
mullokintyre
post Posted: Nov 12 2010, 12:01 PM
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In Reply To: mullokintyre's post @ Nov 2 2010, 11:19 AM

And SEK is another stock I have had to get out of when stop loss was hit.
Profit downgrade coming up. Those mega high EPS forecasts ain't gunna be met.
Bugger.
Mick



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sent from my Olivetti Typewriter.
 
mullokintyre
post Posted: Nov 2 2010, 11:19 AM
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SEK is another stock I have added as a long term investment. Pays a good divvy, has consistently increased ROA, ROE and EPS.
Mick



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sent from my Olivetti Typewriter.
 
 


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