A philosophical Heartland question
Quote:
Originally Posted by
Roger
Not so sure Ben Graham's approach is the right one these days but the comparative PE analysis is sound as far as I am concerned
Quote:
Originally Posted by
Arbroath
I think the equation for Heartland is fairly simple as it is a financial (bank) stock.
When I look for comparatives, one of the first things I apply is the 'duck test'. Put succinctly, for identification purposes, , if it looks like a duck and quacks like a duck, the chances are it is a duck. When I apply the 'duck test' to Heartland 'Bank' something interesting happens.
Q1/ Can you go into a Heartland bank branch and deposit a bundle of cash?
A1/ No
Q2/ Can you go into a Heartland bank branch and withdarw a bundle of cash?
A2/ No
Q3/ Can you go into a Heartland bank branch and obtain some overseas currency for your overseas trip?
A3/ No
Q4/ Can you go into a Heartland bank and get a proper mortgage (not one of those reverse ones)?
A4/ No
My conclusion: Heartland Bank fails the 'duck test' in comparison with the other banks that Roger used as comparatives.
I guess the killer philosophical question on my mind is this:
"If a striped suited 'Beagle Boy' goes into a Heartland Bank and commands the staff to put all of the till proceeds in his swag bag, then the said Beagle Boy leaves with a limp empty sack (because Heartland don't deal with cash anymore), can he be arrested for bank robbery?"
SNOOPY