South Canterbury Finance Limited

[Lawso]

quote: rmbbrave posted:
The last finance company that listed was NZF and we all know what happened then don't we?

What about Dominion Finance, recently listed? I don't hold it but it strikes me as a quiet and solid achiever. Currently 124cps and paying 10+c div. Comparable in quality with SCF imo.

[Capitalist]

Who do you work for? Goodness gracious me. Ask anyone in the Banker's Assoc about finance coys. The fact that ASB has gone public means it is a LOT worse than it looks, and it has been building up for years.

Push your barrow somewhere else dude [}].

PS Not you Lawso.

[Skelessi]

I don't work - for anyone. I simply invest - very sucessfully so far!!

[Capitalist]

OK...I mentioned this issue on the FBU thread a month or so ago and was abused so am a bit sensitive about it [:I]

But it has been made public at last.

Capitalist and others banks and fund managers have a vested interest in keeping you out of finance company debentures. They want you to invest in managed funds thet gross you less than 2% and if they did not have competition from finance companies what would the banks offer you in interest maybe 0.2% to make their managed funds look good. And they would probally increase mortgage and loan rates by at least 2% due to lack of anywhere else to obtain loan money.

[Balance]

Capitalist and others banks and fund managers have a vested interest in keeping you out of finance company debentures. They want you to invest in managed funds thet gross you less than 2% and if they did not have competition from finance companies what would the banks offer you in interest maybe 0.2% to make their managed funds look good. And they would probally increase mortgage and loan rates by at least 2% due to lack of anywhere else to obtain loan money.

Warning way back in 2005 - credit where credit is due.

[stormrose]

Indicators don't look so great for the NBFIs. They need capital to ride out a downturn - and many are too highly geared to do this.
Even though SCF may have the size a general downturn in the FinServ sector will cause capital flight to something else.
Wait for the crash, buy when the survivors are recovering.

[minimoke]

In todays Press Chalkie postulates that AH is now potentially worthless and perhaps bankrupt and suggests SCF go into Statutory Management.

[Toddy]

In todays Press Chalkie postulates that AH is now potentially worthless and perhaps bankrupt and suggests SCF go into Statutory Management.

A very convincing article. I don't think that this is a reflection of AH's management. Its just reality from the fallout of a massive world wide economic crises that has taken many investors down with it. Unfortunately for AH he does not have time on his side to use all of his years of experience to recover.

[Alan3285]

In todays Press Chalkie postulates that AH is now potentially worthless and perhaps bankrupt and suggests SCF go into Statutory Management.

I think Chalkie is right - SCF should be in Stat Mgt too.

Whilst I have serious issues with the lack of transparency throughout the process of putting AH and his wife into Stat Mgt, I think it is very odd and inconsistent to have left SCF outside that process. Also, Sandy Maier has run companies in Stat Mgt in the past I believe, so it wouldn't even necessarilymean that he would have to move on (though he might choose to do so).

Alan.