Taken far too long>!! lol.
Your lack of knowledge on banks/finance companies has cost you money.
It has also cost those people who read your posts, thinking you know what you were talking about money too.
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I have found it enlightening to read Snoopy's analysis. It has certainly demonstrated to me the complexity of analysing company reports. Snoopy has tried to justify his opinions with facts whereas many of the posts on ST are pure speculation or wishful thinking.
Um, my 2cents worth, when it comes to investing there are many on this forum whose opinions are very sound , unfortunately Snoopy does not always fall into this catergory , I know he tries, but as Percy has proven countless times Snoopy is prone to making factual errors, so follow his advice at your peril . when your own money is on the line expert advice plus your own research is my choice. The more you read this forum you will discover whose opinions are reliable, I prefer a combination of my own research and cherry pick from some of the other wise heads on here.
Just to reinforce the point, I have never claimed to be an expert on banks and finance companies, although I think I am gradually getting better! Yes I have made errors on this thread, but I like to think that I am correcting them as I go along. The number of errors on the way to getting the answer is immaterial. Getting the answer right in the end is what counts. And I am afraid there is till more for me to do on Heartland's FY2013 report, and the downstream effects, yet.
SNOOPY
No, my ANZ shares have done me very well thanks.
Breaking news of the ANZ thread. The UDC advantage is completely explained by not having branch costs. So maybe UDC is not the shinging light to aspire to after all.Quote:
It has also cost those people who read your posts, thinking you know what you were talking about money too
.
SNOOPY
Snoopy;
To go forward first you have to go back.!!!!
Reread the 1st November HNZ CEO presentation notes,that the CEO gave at the agm.
Would not agree with your use of the word "completely".I would have used "in part."
You can now understand why I posted very early on, on this thread, why you will not see Heartland Branches every where.
Some of "that" overhead may be legacy of the two building societies and Marac being merged to form HNZ.Interestingly enough Timaru is being serviced from Ashburton,which makes sense.
I would think it would also pay to bear in mind HNZ has been very much a work in progress,and it will not be until you see the next annual report,for the year ended 30/6/2014 that meaningful comparisons can be made with UDC.
By the way I think UDC and FPF are brilliant finance companies,and HNZ is well on the way to being one too,with the added bonus of the banking licence.Marac was always thought of in the same light as UDC and FPF until they lost their shirt [under ex UDC man Brian Jolliffe] in property lending.Both UDC and FPF kept to their knitting.HNZ have "world class knitters" on board so the future is positive.
Snoopy, with respect you can analyse this report till the cows come home , but you've already missed the easy money that was to be made on the climb back from about 45 cents to 85 , and now the shareprice has well and truly stalled, and if there were any newbies following your advice on this stock they missed out as well . Strike while the iron is hot, he who hesitates is lost , buy in at the bottom of a cycle ring any bells??
Kiwigold, I agree with what you have written. The problem as I see it that relates to Heartland is that they haven't been in existence for a business cycle. So investing in HNZ at 45c is excellent 'with hindsight' advice. Of course this is not the same as saying you don't have any insight, because I have just pulled this quote of yours from the SML thread
K1W1G0LD wrote
"HNZ are going to take a lot longer to realise their goals and dispose of their troublesome bad loans, they are also in my opinion going to need a major credit re-rating for their shareprice to lift much over NTA."
The situation with Heartland at 45c, was somewhat akin to where the power generating companies are today. A national lead government from 2014 onwards should see the share price of power generators jump. A labour lead government should see the share price of those same companies fall. If National do lead the next government then buying power companies today, at the bottom of the cycle, will look clever by the end of the year. But today will only become 'the bottom of the cycle' if indeed a national lead government comes to power. That 'obvious bottom' buying point is only created by hindsight.
SNOOPY