Thanks very much Beagle! :t_up:
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Nobody has ever asked me that before so I am not sure on that one mate, sorry. I don't think its an effective strategy anyway because the main board listing for those two is here and the Aussie price will generally track the N.Z. price adjusted for the exchange rate. I think 99.99% of people wouldn't bother with that because all other things being equal, liquidity is never a bad thing.
For example in some classic valuation models I have seen over the years a paucity of liquidity needs to be rewarded with an extra 2% per annum return vs a stock with great liquidity.
Just a general clarification. Any shares of NZ companies traded as well on the ASX (or the other way around) are the same shares of the same company, i.e. the tax treatment is as well the same. However - your NZ return might look a bit different, given that you need to declare foreign dividends in a different form than domestic dividends. Bottom line (i.e. tax you need to pay) however should not change (but potentially some rounding errors due to exchange rates and similar).
You can as well transfer these shares through your broker (was for me free of charge, but it does cost you some paperwork) from ASX to NZX and vice versa. This might help to remedy any potential arbitration losses the low liquidity otherwise might cost you. Takes however time - i.e. no selling on the press of a button ... complete the form and wait some days.
Personally - I don't see any advantage of investing in the respective lower liquidity market but a possible arbitration gain (or loss) and more paper work.
New CEO for Heartland bank. Nabbed a Westpac exec. Good stuff.
Chris Flood moves up to group deputy CEO and will help old mate Jeff take over Aussie.
Endless growth ahead for HGH and they have a proven track record of growing. Great long term compounder. Hope to pick up a bunch sub $2 during the current storm
Rawz - do you really think we'll see sub $2? I'll be buying if we do get there but I have my doubts.
I have no idea. But wouldnt surprise me in this market.
During the covid crash it dropped from $1.80 to $0.90 a share.
Stop it you two. It's heading to the top of the loser board today.:ohmy:
How much of their book is even related to ag sector?
Yeah noticed that winner some big drops in some of those auctions too.
You’ve got to think outside the obvious …it’s not really about whether they have ag clients but the bigger picture.
Dairy prices are one of the lead indicators for general levels of economic activity ….and as Jeff has often said Heartland’s fortunes are closely tied to GDP (and employment)
one of the most ‘accurate’ economic forecasting models I’ve seen is one run by an investment manager called his 3 C’s Model ……inputs are Commodity Prices, Climate (soil moisture deficit) and Currency. Things are going to be good when the grass grows and producers are getting good prices and currency is favourable……and vice versa ."?like you’ve probably heard about the drought induced recessions NZ has every now and again.
Conjecture over on HMY thread that Heartland might have to face up to a $5m hit on their Harmoney investment when June numbers come out
HMY share price down 40% since December 31st when Heartland last did a fair value number