Not asking you to be silenced mate. I am sure they will simply "manage" their way towards the mid point of their FY16 guidance range by changing some of the underlying assumptions that are supportive of what amounts to nothing more than guesses, (opps sorry, professional estimations) of loan provisioning at year end so I am happy to agree to disagree with you and will stick with my fair value assessment and note that the current price is within my fair value range.
I called it as fairly valued on 1 February 2015 at $1.30...not much has changed, EPS up a little and sector PE down a little bit reflecting underlying risks in a slowing economy and commodity environment.
Those thinking that auditors give a really thorough and impartial scrutiny of the company in terms of the adequacy or otherwise of loan provisioning. Oh dear, that's a pretty sad indictment on professional standards isn't it :eek2:
http://www.sharechat.co.nz/article/b...fma-reviewhtml