Sounds like money down the river to me,!!!!
lol.
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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..
To which the Aussies would be singing..
How I love ya how I love ya Dear old Swannie. !..
Exports of Tui would go through the roof..
The S&P announcement amused me.
"NZ organisations that give house loans will be in the ****e if housing collapses! Therefore all the banks/lenders least exposed to housing are warned!"
Huh?
Their excuse of course was that the big four in NZ are Aussie owned and have heaps more backing so will be able to weather the storm. Of course, if the over inflated Aussie market pops at the same time they would be in the ****e big time having way too much on their loan books with a lot less equity cover. They didn't seem to notice that half the financial institutions they stated don't really do much home lending...
May pay S&P to read ANZ bank chief economist Cameron Bagrie"s article on www.stuff.co.nz headed "NZ heading for 'rock star' status."
Did enjoy ;"NZ had stolen a "three year march" on Australia.'
Great stuff on stuff.
Percy, Good to see that you are now getting out of bed at a reasonable time. Mind you, anything before ten am is still too early.
The Heartland problem will take at least a week to settle down. Maybe longer. The S & P comment must do quite a bit of damage. What about 60cents? Are we running a book on it? Of course we are, with our shares. There are great opportunities available to lose, or make, cash.
Should we sell? Or buy?
All opinions welcome.