Have a look at the Macquarie stock chart.
Printable View
They've exited out of there now though, right? I had OCA earlier last year and eventually ran out of patience with the Macquarie overhang and sold out in the low $1.something...impecably bad timing on my part of course. OCA has been good to me so far this year, but if this sell down continues, the green will start to go a bit autumnal...
PS, sorry for discussing this on the MET thread.
But OCA was a good buy off Macquarie at 79c. At that time market rising etc etc and there were plenty of opportunities to pass the parcel. But I didn't even buy any then because of the Macquarie taint
However the last dump by them was brilliant and at punters expense so yeh they are the vampire squids of the Tasman Sea.
What is wrong with their chart? Take it to here if you want https://www.sharetrader.co.nz/showth...acquarie-Group
oh and don't worry Cyclical I have it on good authority that threads are meaningless concepts in post covid world.
https://www.nzherald.co.nz/property/...ectid=12329794 Very interesting. Auckland house prices up 5% in the 3 months to 26 March 2020.
Everyone is throwing darts trying to guess the impact of Covid 19 but the best guide to the future is the past and in the GFC over the following 22 months the market fell only just over 4%.
Maybe taking into account the rise in the first 3 months of this year, once the dust settles from this virus real estate prices will be basically unchanged compared to the $7.00 NTA as at 31 December 2019 ?
I reckon at worst, give or take 10% drop over the next 2 years, maybe more if you adjust for inflation, but then we could be in for a period of deflation anyway. Maybe the market will be flat for another year or 2 after that before it goes gang busters. It would be worse if Auckland hadn't already had a couple of years of negligible growth (barring the last quarter). Predicted big drops in the property market are over rated. Of greater concern is the ability for depth fueled expenditure against the house.