Yeah me too. I am hoping I am not venturing into the same stocks as the bowling club brigade again!
The Christchurch Roadshow Turner's presentation was the best presentation I have ever been to.Better than RYM,EBO,HGH,MFT etc,etc.
Went on for over two hours.
All questions were answered fully.
Were told to always buy your second hand car in Winter, as the market is the slowest then,so no surprises their first quarter was slow.Always will be.
I'm still holding on.
I don't wanna sell at a loss, especially on no fresh news.
Standing firm with ya percy!
Agreed the presentation was of a good caliber but I remain bemused why Todd Hunter couldn't / wouldn't answer my question ? What is so difficult about giving investors a steer on how Q1 had gone in July ? My impression at the time was in effect his response was we can't release commercially sensitive information although a simple we're not going to talk about that or words to that effect could be interpreted in a number of ways.
Regarding your Chch presentation comment. It all depends upon the caliber of the questions asked. Nobody asked how the first quarter had gone at the Auckland roadshow except me. Nobody asked at the annual meeting how problematic MTF loans were going and what their average duration was except me. I guess my training as an auditor looking for problems has its occasional uses.
By the way, I gathered from the annual meeting their Q1 performance was poorer than a normal Q1 but others might have gathered a different perspective, (I was pretty hot under the collar about Grant Baker being too scared to face the music with his massive fee increase). Let's see how they go next week. The market is a very harsh taskmaster at present. Any chink in the armor of the robustness of their business model will not be well received.
You should have come to the ChCh presentation.
MTF loans were covered in depth by both Todd and Aaron as was Autosure.
Almost sounds like a capitulation?
‘Capitulation’ is the time to buy they say
But the neighbours bowling club mates haven’t ‘capitulated’....some are stil holding the ones they didnt sell when they moved onto Oceania. They were tempted with Z but kept out ....but the way Turners and Oceania are going that day might come.
So, while we are all sitting around and some might even bite fingernails in expectation of the great revelations next week, and while some people obviously can't stand the excitement and prefer to sell out - question is, what does the market expect?
So far I would expect a similar EPS than last year (maybe slightly lower) - say 13 cents for the first HY, an indication that the second half will be better (it always is) and (hopefully) on top of that some one off property gains, which percy thankfully brought to our attention.
On the other hand - if that's what the markets expect, than I don't understand the price trend ... somebody here must be really pessimistic.
So - what do you guys think, what would be in your view a really good HY result pushing the SP above the $3 (in my view something above 15 cents EPS without one offs) - and what would be a really terrible result (worse than the disaster the market seems to price in anyway? What do you think it will be?