Correlation of a different kind then :)
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I have been spending a great deal of time looking for homes, for the proceeds from the sale of our previous house.
Not easy.Still a work in progress.
Dare not add to our HBL or TRA holdings.TRA is the only share on the NZ market I can find where the PE ratio is lower than their growth rate.
So far MEL and GNE look suspects because of their yields.Other possibilities are AIR,OCA,and SPK.
Companies must be paying a reasonable dive, and have the capacity to increase it.
Well HBL is trying my patience. Great day on the maket today with my portfolio now sitting on a 28% increase for the year. That includes the 9.7% loss I am carrying on HBL - my only loss maker. So its not only the HBL loss I am suffering - its also the opportunity cost. Oh well. Only 4 more cents to fall off and my stop loss is triggered
SUM - depends upon your definition of a reasonable dividend but I have them on a forward underlying PE of 17 with a CAGR of 45% per annum over the last 6 years ! This year I still expect growth of 20-25%. That said I share the general thrust of what you're saying, its pretty to find value especially now the NZX50 is over 9000 !. GNE after the last 2 days they have dropped about 8 cents to $2.42 and there may be a little value there or maybe look at AIR where analysts on 4traders expecting increasing divvies over the years ahead. FWIW I also have a modest stake in MEL.
I hold some GNE and bought a very modest extra parcel of AIR today.
I'm slightly underwater on my recent reentry into HBL and my policy is not to add to losing positions and there are no exceptions to that rule ! Averaging down is for people with better blood pressure than me LOL
Thanks Couta and well done