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Junior Member
I don't work - for anyone. I simply invest - very sucessfully so far!!
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Member
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.
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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.
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Junior Member
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.
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quote: Originally posted by 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.
Agree with that and if there are defaults in the industry then it will probably hurt SCF as far as inflows go. Longer term however it will ensure that the sector is better regulated which will only help a company like SCF. Because of its capital base it could well be in a good position to pick up the pieces from other finance companies which are higher geared.
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Snapper What is so good about South Canterbury Finance last time I read their prospectous which is about $ years ago. I would not look at their secured
debentures. Please tell me what has changed since then.
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Longstanding finance company - been around for ever
Been through all parts of the business cycle
Well capitalised
Stable management
Good reputation
Well supported by advisor groups.
No denying, however, that it doesn't offer the same security as the major banks but it would have to be one of the strongest in the non-bank sector.
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Banned
If you are after good interest rates put your share of money that u want to put into fixed interest in to a reputed overseas bank. This way you get good interest on the money as you dont pay tax on interest.
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Snapper Whats New that was what was said four years ago but prospectous detailed some of the things it was lending on and this raised alarm bells with me so what exactly is new. Your statement would cover over 90% of finance companies. Can you come up with any concrete changes or other reasons why this is a finance company to invest in or with.
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