GFL - Good news for Geneva Finance

[Biscuit]

It's well worth a visit to their website if you want an insight into how some people must manage their financial affairs. 12% to nearly 30% interest plus a list of fees as long as your arm if you want to use their money. Hard to see why everyone on the website (even the cartoon people) are smiling so much. A more honest expression might be a combination of gormless anxiety. Not moralizing, just saying, but not a business model that appeals to me.

[GTM 3442]

Let's face it. Geneva is nothing more than a punt at this stage. One step up from being one of the "penny dreadfuls" of which I am so fond, but a punt nonetheless.

And that's the basis upon which I shall buy some once the price returns to the equivalent of 5cps. And write the money off as "lost" as soon as I buy. But I am open to happy surprises!

My guess at the timeframe for my turning sufficient bucks to exit is about 2020-2025.

[whatsup]

Relisted at the 7/1 takes effect, whatnow ?

[Beagle]

It's well worth a visit to their website if you want an insight into how some people must manage their financial affairs. 12% to nearly 30% interest plus a list of fees as long as your arm if you want to use their money. Hard to see why everyone on the website (even the cartoon people) are smiling so much. A more honest expression might be a combination of gormless anxiety. Not moralizing, just saying, but not a business model that appeals to me.

Sums it up very nicely. Fact is anyone with a decent credit rating will get cheaper money from their bank or one of the mainstream finance companies which leaves this company as nothing more than bottom feeders.

Let's face it. Geneva is nothing more than a punt at this stage. One step up from being one of the "penny dreadfuls" of which I am so fond, but a punt nonetheless.

And that's the basis upon which I shall buy some once the price returns to the equivalent of 5cps. And write the money off as "lost" as soon as I buy. But I am open to happy surprises!

My guess at the timeframe for my turning sufficient bucks to exit is about 2020-2025.

Make no mistake, they are a penny dreadful...
The use of a Swiss city as the name for a finance company is meant to infer strength and stability in much the same way as the choice of "Stellar" in stellar collections Ltd is meant to infer they have a stellar ability to collect overdue debtors. Investors would do well to consider whether these name choices are deliberate attempts to present an image and whether that attempt to portray same has anything behind it or whether this is simply a cunning marketing ploy, much like a cynic might claim that the 7:1 share consolidation is simply another creative way to try and create a more substantive feel to the company in terms of its share price being somewhat more normalised.

[Major von Tempsky]

Very strange stuff from Roger. David O'Connell was brought into Geneva after successfully sorting Farmers Finance. Faced with the situation he was faced with I don't see he needs to apologise to anyone! He's succeeding and I have bought into that success.
My mother had all her money in different finance companies and after she died I cashed the lot in to invest in shares that were solid and paid dividends so that one got both dividends and a chance of capital appreciation. Now that the GFC (Global Financial Crisis) is over I have taken the opportunity to invest some in Geneva in the recovery situation there. But I am well diversified into property, shares and bank deposits. Today I celebrate the fact that for the first time my Spark/Telecom holdings now exceed what they were before the GFC hit.
This thread is part of an NZX share investment thread. It has nothing to do with very unwise behaviour by people who lent lots of money to finance companies without diversifying in historical times. I would like the Moderator to exercise some censorship to steer this thread along the right path otherwise I and and others will go elsewhere where we can sensibly discuss CURRENT SHARE INVESTMENT!

[GTM 3442]

Very strange stuff from Roger. . . . . . I would like the Moderator to exercise some censorship to steer this thread along the right path otherwise I and and others will go elsewhere where we can sensibly discuss CURRENT SHARE INVESTMENT!

I would not like the moderator to exercise some censorship to steer this thread.

[Major von Tempsky]

Well here we are, all you dogs in a manger, you've been pre-empted by CURRENT events. Have a look at today's announcement, Geneva has declared a special 1.5 cps dividend to be paid in August this year!
Amongst other things it means I could now, if I wished, quite safely sell off my Geneva without tax saying I bought for dividends and now I have a dividend. But I think I'm in for rather longer than that.

[whatsup]

Well here we are, all you dogs in a manger, you've been pre-empted by CURRENT events. Have a look at today's announcement, Geneva has declared a special 1.5 cps dividend to be paid in August this year!
Amongst other things it means I could now, if I wished, quite safely sell off my Geneva without tax saying I bought for dividends and now I have a dividend. But I think I'm in for rather longer than that.

I was picking for a divi eventually but not for this year, may be 2017 but this makes life very interesting , whats next can they grow their loan book markedly that is my question, it will make this years AGM very interesting imo.

[Major von Tempsky]

Yes, it's rather sooner than I was expecting too, I thought next year at the earliest. When and where is the AGM Whatsup?

[GTM 3442]

I had a 2020 timeframe for Geneva becoming an investment rather than a speculation. Things might be happening sooner than I had anticipated.

However it's a special dividend, so we'll see what happens in the dividend space next year. If there's nothing, I reckon I'll be able to pick 'em up at 35c with no problem.