could be part of those:)
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Thank you for your advice.
I prefer my own counsel.
I would never tell you to buy or sell your PGW.That is your decision.
As I post often on sharetrader,I think it is only right to disclose I have sold out of a company,as I usually post when I have brought into a company.
I sell books to schools.Shares have been a life long hobbie.I was told if you got 6 out of 10 picks right you would make money.Over the years I have gone from about 3 out of 10 to currently 9 out of 10,so I trust my own judgement.
Seems to me that both Percy and Master are both doing very well but in different ways, Percy being more of a long term investor and Master more of a swing trader.
When I see changes happening I act straight away.Can be within minutes.
I think PGW is a fine company.
However, I wanted to cut my exposure to the rural sector.The likes of CVT, PAZ,SCL and SEK should benefit from falling $ more than PGW.REL I wanted to retain,while Tru-Test is very illiquid.
So selling PGW brought my exposure to the rural sector to where I wanted.
I leave others to decide whether they trust me or not.I have always posted my views honestly.
I expect the result will be excellent.
You may note I have also sold out of AWF,again a share I have held for a number of years.
I am just altering the portfolio a bit.I have recently brought AWK,IQE and a couple of small cap Aussie shares.Also carrying more cash.I am undecided whether to add to our RYM and SUM.
I sold my holding in HNZ but increased my holding in PGW. In tough economic conditions people default on their debt, other loans are rescheduled and deferred and otherwise amortised over longer periods but are intrinsically toxic debt nonetheless...toxic debt that financial institutions are very reluctant to crystallise until the auditors force them too...witness the Euro loans to Greece as a prime example. OTOH people still need seeds, irrigation, farm supplies e.t.c. and PGW's exposure to the dairy sector is small. Further their gross dividend yield is substantially superior to HNZ. Further still, PGW offers the most diversified agri exposure on the NZX by far and while one sector may be struggling others are performing well, irrigation and beef to name just two.
Beef is going absolute gang-busters...(I have been working for the last two weeks on a major clients books and the draft figures have really blown me away, BY FAR the best I have seen in 20 years of doing their books), and yet OTOH we know HNZ have stated they are targeting loan growth to sharemilkers...the ones who's operations are going down the drain...go figure ?
PGW are out of this lending to farmers business and this is now HNZ's problem.
Despite the incessant ramping on HNZ's thread I am happy to back my own judgement.
Perhaps worth noting that my opinion is backed by the analyst community with one buy, one outperform and one hold by analysts
http://www.4-traders.com/PGG-WRIGHTS...113/consensus/
On the other hand we have HNZ with two holds and one underperform.
http://www.4-traders.com/HEARTLAND-N...518/consensus/
(Not to be misinterpreted that I follow analysts per se. I always make up my own mind).