HMY - Harmoney Corp Limited

**Muse** · 08-12-2021, 08:45 AM

Originally Posted by nztx

I'm interested in what sort of exceptional results HMY can tickle up for us

If they're really really exceptional, then who knows .. a few of the local friendly canines
may even be interested in having a bite or two

c'mon beagle - baptize this bad baby for us

**Rawz** · 08-12-2021, 11:46 AM

Originally Posted by Fiordland Moose

c'mon beagle - baptize this bad baby for us

This thread has been very quite from some of STs most notable posters. Either;

1) Not interested right now and waiting to see some more runs on the board
2) Happy to have exposure via HGH
3) Quietly buying before posting

**Muse** · 08-12-2021, 12:28 PM

Originally Posted by Rawz

This thread has been very quite from some of STs most notable posters. Either;

1) Not interested right now and waiting to see some more runs on the board
2) Happy to have exposure via HGH
3) Quietly buying before posting

I was #3 for a month or two

**winner69** · 08-12-2021, 12:34 PM

Originally Posted by Beagle

Lending money to people unsecured is a recipe for disaster regardless of the interest rate charged.

I think their business model is fundamentally flawed so wouldn't be an investor at any price.

This was Beagles view earlier this year

Even if the automated fandangled computer system is so fantastic that it only lends to good safe people who will repay on time I doubt whether his view on lending to people unsecured would have changed much

You never know .... he might be slowly accumulating

...stranger things have happened

**mike2020** · 08-12-2021, 01:20 PM

There was an article I read this morning on increasing defaults on unsecured lending, maybe he read it too

**Rawz** · 08-12-2021, 02:01 PM

There is nothing wrong with unsecured lending to the right customer. As long as the fandangled computer system picks the right customer, as Winner says..

Over 50% of HMYs book is to home owners. 90days arrears is 0.47% of book. Most of HMYs lending is for major life events- new car, home improvements, weddings, holidays etc. It smooths the household cashflow. But the cashflow is solid with the right customer.

There will always be a need for unsecured lending and profits can be made. Credit cards, store cards, overdrafts exist for this reason. The market is getting much bigger and banks have dropped the ball. Its moving online and speed is the key.

Unsecured lending via payday lenders.. well that is what i would call risky. That is lending for everyday life. not for major life events.

**thegreatestben** · 08-12-2021, 03:27 PM

I think these are all valid points, getting a top up from the bank lately is like getting blood from a stone.

We’re DINK’s with an above average household income a tiny mortgage, amazing credit scores and it takes hours to get a hold of the bank on the phone, full applications, days to reply….

Definitely a space for HMY in the market.

**winner69** · 08-12-2021, 05:24 PM

Goodness gracious me. ..HMY one of the handful of stocks whose share price fell on what must have been one of the best days ever on the NZX

**Muse** · 08-12-2021, 05:31 PM

Originally Posted by winner69

Goodness gracious me. ..HMY one of the handful of stocks whose share price fell on what must have been one of the best days ever on the NZX

LOL - yes I noticed that (on $16k of turnover), only other one in my portfolio that did was CEN

Buyers are stuck in the past wanting in at ~1.86 and below, and about 3000 shares available up to 2 bucks. Pretty big illiquid gulf. I should just have a standing order hovering up all shares at up to 2 bucks. Will take some more quarterly origination news demonstrating run rate to get interest back in this one. Fine with me - fundamentally its a good buy well north of spot price.