S&P's ability to call a housing bubble is laughable.
Until we see a significant increase in supply in NZ (or a population decrease), then there will not be a significant correction.
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S&P's ability to call a housing bubble is laughable.
Until we see a significant increase in supply in NZ (or a population decrease), then there will not be a significant correction.
No disaster .... price only back to what it was the day before Percy went to the Macquaries night last week
Interesting to note the Yahoo Financial ( yes I read many sites ) headline..
" CORRECT Heartland among eight local banks put on notice over rising housing risk by S and P ".
Was that because HEARTLAND is now the Premier small bank ??
And I think that fairly sums it up.
I was very pleased with Heartland's reply.Thought it was very positive.Added to my wife's holding at 68cents today.A lot of "wingers" around today.Buyers disappearing,sellers disappearing.But after all said and done, there was more said than done.!!
Next announcement about the non-core property loans should be interesting,then we will await news of "repayment"/replacement of the expensive Marac bond.Then winner69 I expect you will report "onwards and upwards".!!!!!!!!!!!!!!!!!!!!!!!
78cents>!!!
Maybe 78cents is the new inside track?
Bit surprised the eager sellers came out at 77cents .
Talk about market over reaction. Nothing much has actually changed fundamentally for HNZ. I topped up a little today and sent away the envelopes with the DRP that I have been holding onto. I will be in the DRP while the SP remains under 90c but will consider pulling out of it if it goes above that, unless we get a discount.
If we reach Percy's 68c I will be buying up large, as long as the RBNZ new rules don't limit me mortgaging my house a bit more :confused:
An amusing situation. I was, am, hopelessly overstocked with Heartland. I reluctantly sold 5,000 or so at 77 cents to buy Mighty River. Put the $4,000 into that at $2.50. Then Heartland went to over 81 cents. Had I done the right thing? The fall today to 77 cents shows I did. The reason to sell Heartland was of course to diversify. I am nearly back to where I started before PGGWrightson and PyneGold hit rocky shores.
I personally think downgrade bank rating is a major, I have to follow S&P advice, so cut my half holding sold at 80c , first 25k shares traded which 20k came from me.
S&P are just arse covering after stuffing up in the US. Very unlikely to be downgrading - I am looking to top up if it drops much lower.
Mouse it is amusing indeed. 10 days ago I posted on the RYM thread (post 1243) a small story about investing on behalf of my teenage daugthers. At that time (only 10 days ago), I said my daughters (and their Dad) had sold half of our RYM (since up 2%), all of our CEN (didn't want to but CEN fell out of my daughters "safe "investments after Norman-geddon, but since up 6%)). At the time of my post, my daugthers were suggesting we use RYM receipt to buy SUM, AIA, PGW and SAN. We did invest it 50/50 in SUM and SAN. Since then share prices have changed SUM (-10%), AIA (+5%), PGW (-8%) and SAN (+5%).
Our net change from these transactions, -2.5% and completely satisfied we have done the right thing long term.The future will prove us right, wrong or prudent !
I know I am not in the right thread for these comments but Mouse initiated a response. My apologies
I think it time to reread HNZ's response kindly posted by Sparky The Clown post 1783.
1] S&P are already commenting on our improving business position post bank registration.
and finishing
e] and a strategy of competing in stable less contestable specialist markets [livestock,invoice finance,motor vehicle etc].
My own observation is the noise Aussie banks would make either if things turned down here,or further in Aussie.
"We had to take that tuff course of action to protect our shareholders.Our largest shareholders are Aussie pension funds."
Swann can't put up that NZ may have a budget surplus before them.Under arm by Bill English.
Percy !!.. How dare you suggest that any one in NZ could bowl an underarm ??.
Even the Greens would not stoop that low..