From this distance, it would appear that not a few on this forum were bedazzled by that smooth-talking Norah!
;)
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From this distance, it would appear that not a few on this forum were bedazzled by that smooth-talking Norah!
;)
Wish I had some spare cash - Sum is great value at these levels!
To an extent, the market prices for MET SUM and RYM were driven by sentiment and PR. Looks like the market has fallen out of love to an extent with SUM. The (erstwhile) unloved MET has held up quite well so far...perhaps because there was not an awful lot of love propping it up in the first place. The question is - has all the puffery been beaten out of SUM yet? To me, it is looking more ripe for topping up, given the (overdone?) negative market reaction generated by the recent seemingly disappointing sales report. Those big Insider trades a few months ago had been a real tell-tale that they thought that the SP had gotten away with itself! I am with Couta and will hold on to my SUM shares at this stage.
Disc: hold SUM, RYM and MET in roughly equal valuations now.
Your wrong there skid i ditched 120k CNU shares last year remember and why would you ditch Sum when its only 4c down on your buy in price?:cool:Quote:
Originally Posted by skid493508
At the beginning of the year he was right, that quickly changed, not his fault, you have to be flexible and adapt to the current conditions.
I agree that it would be unreasonable to expect that the last couple of years' share price growth will continue and NZ residential property values may well/probably consolidate and, given low inflation, drop. However a possible continuing positive in the next few years is the increasing size of the potential market for SUM's services which may lead to increasing resales and new sales. SUM et al. will probably not have to sell their land or sites during a downtown and may well continue to add to their land bank during a stagnant property market, if there is a continuing growth in demand for their units. However, it is definitely a time to be cautious before making an investment decision.
Well, my stop-loss was triggered this week and sold for $3.11. I'm up in total on SUM, but the recent slide has cost me.
I feel I kind of just watched this happen and did not act. Bit silly really.
Kudos to those who acted 3 months ago.
Not really silly as you probably had a long term view like many of us, I'm sitting on all my current stocks but have decided not to put any further money into the share market (Have far to much in there now) Have just over 10 years to retirement so time to head back to bonds with any money from now on.