Turmeric - just that SUM price moved 3% today compared to RYM moving only 1%
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As an addendum;
If in four week’s time SUM report an entirely unlikely drop in gross margins due to the new villages not being adequately utilised or not yet productive, as Forsyth Barr suggest, I shall print this post out and eat it, someone do remind me.
Forsyth Barr...Promoted Credit Sails CDO's to elderly retired investors as a safe investment... resulting in a multi million dollar settlement with clients based on grossly misleading sales tactics.
Forsyth Barr Promoted Feltex to its clients as a strong buy.
Forsyth Barr couldn't help get their hands very dirty in the South Canterbury Finance fiasco.
Forsyth Barr consistently underperform year after year in the compartive stock picking stakes with their competitor stockbroking firms.
I used to deal with them years ago... My opinion is they have very little credibility as a firm.
More interested in what ACC are doing to be honest...buying at $3.50 and selling at $3.66 recently suggests anything outside that range is an opportunity.
Perhaps investment companies such as Forsyth Barr have helped to depress the price in the short term with their re-ratings. If that is the case, then perhaps we should be thanking them for creating such a buying opportunity for us?
As far as how far SUM will fall, it is almost impossible to predict so I don't even bother to try. Given the strong sales announced and the great long-term track record of the company, I'm continuing to buy on the current weakness. A risk yes, but relatively low IMO and after all, risk is what this game is all about.
Well said its amazing how gullible people are as they hold companies like FB in oracle status,great buying op for those with some money,ACC will be back in for more soon for another trade for some quick profit soon as we all anticipate the upcoming results for the year,interesting FB say accumulate Ryman and hold Sum I think the reverse should apply IMHO
The article regurgitated on Stuff this morning - actually this is worded even more strongly.
http://www.stuff.co.nz/business/mone...-for-investors
Does anybody else find the line of reasoning flimsy? They're essentially saying I better sell up because SUM is expanding their operation.
Forsyth Barr - SUM would not build if there wasn't a demand. I suspect they are better placed to make this assumption than you are. Also, brand new units seem to appeal to the retirement folk I know.
As far as minimum wage rises go, this is just another thing management will handle carefully. Some cost may have to be passed onto the residents, but I suggest this won't impact demand for Summerset units.
If you applied Forsyth Barr's reasoning to other companies you wouldn't invest in anything. I for one back SUM management over Forsyth Barr.
I look at it this way, if that is absolutely the best Forsyth Barr can come up with as a means of knocking the stock down so their clients get a good short term buy, then Summerset is doing really very very well as a going concern.
DISC: Downgrade of Forsth Barr to Morningstar status.
Its really annoying when these so called experts talk so much crap,the demand is massive and ever increasing and we all no that except FB of course,as for the minimum wage issue that case is far from becoming law at this point in time and the likes of Sum and Rym are well able to take this in their stride as opposed to the smaller companies and not for profits,this will have zero impact on building new units or reselling existing ones
Normally I would be horrified to see an article like this and the resulting declining shareprice. However this time all I can think about is at what point I will grab another chunk of these. FB produced no concrete information imho that would point to SUM not being consistently and quietly successful.