South Canterbury Finance Limited

[Beagle]

How can he get wiped out in that scenario?

If he is cash positive already, then he wins. It is only a matter of how much he wins.

Alan.

I predict he won't liquidate today or any other day as he's been saying for ages they'll come right and thinks the pref shares are worth the full $1.00, LOL and there's no saying he bought at 9 or 10 cents that's pure conjecture.

I conceed if he did buy at 9 cents and sold today there is a possibility he could have "theoretically" doubled his money, but I think you're very premature congratulating him seeing as you're not aware of when he bought and at what price and if he's sold, don't you ?

Best to wait till 31 August before congratulating anyone wouldn't you say ?

[Alan3285]

I predict he won't liquidate today or any other day as he's been saying for ages they'll come right and thinks the pref shares are worth the full $1.00, LOL and there's no saying he bought at 9 or 10 cents that's pure conjecture.

I conceed if he did buy at 9 cents and sold today there is a possibility he could have "theoretically" doubled his money, but I think you're very premature congratulating him seeing as you're not aware of when he bought and at what price and if he's sold, don't you ?

Best to wait till 31 August before congratulating anyone wouldn't you say ?

Do we detect the prescence of the green eyed monster Roger?

You might consider being a little more gracious.

Alan.

[minimoke]

Do we detect the prescence of the green eyed monster Roger?

You might consider being a little more gracious.

Alan.

No green idea monster at all. How can you congratulate someone when you don't know that there is something to congratulate.

For a start I'm not sure that anyone bought at 9 cents - isn't the lowest it went to about 10.5 and there weren't to many substantial buyers art that level. And even if Enumerate had sold today there are only $6k worth of sales - so he's hardly going to retire on that sale.

If has bough low and sold high, good on him and anyone else who was prepared to catch the falling knife. It might be a different story if he'd bought at 15 cents and watch the fall and then sold at 17.5 today - hardly life changing.

But then its always easy to gloat in hindsight and without the benefit of declaring buy / sells.

[Beagle]

No green idea monster at all. How can you congratulate someone when you don't know that there is something to congratulate.

For a start I'm not sure that anyone bought at 9 cents - isn't the lowest it went to about 10.5 and there weren't to many substantial buyers art that level. And even if Enumerate had sold today there are only $6k worth of sales - so he's hardly going to retire on that sale.

If has bough low and sold high, good on him and anyone else who was prepared to catch the falling knife. It might be a different story if he'd bought at 15 cents and watch the fall and then sold at 17.5 today - hardly life changing.

But then its always easy to gloat in hindsight and without the benefit of declaring buy / sells.

Cheers for that Minimoke.

Alan, whilst we are on the subject of giving each other suggestions on blog conduct, perhaps you might like to have a wee think about how insensitive it is to so brazenly gloat about your profits, when so many others have taken an absolute bath on SCF pref shares, especially all the poor old unfortunates who subscribed at the full $1.00 on Forsyth Barr's advice.

[Alan3285]

Cheers for that Minimoke.

Alan, whilst we are on the subject of giving each other suggestions on blog conduct, perhaps you might like to have a wee think about how insensitive it is to so brazenly gloat about your profits, when so many others have taken an absolute bath on SCF pref shares, especially all the poor old unfortunates who subscribed at the full $1.00 on Forsyth Barr's advice.

Roger,

Who lost out when I bought the SCFHAs?

Alan.

[Beagle]

Roger,

Who lost out when I bought the SCFHAs?

Alan.

*sigh*.......Perhaps a retired pensioner who originally invested at $1.00, those things are a zero sum game, someone, wins, someone loses and in the case of this security the vast majority of people have taken an absolute beating, hence my comment about you perhaps reconsidering the merits of gloating, (generally), and especially in this case.

[Alan3285]

*sigh*.......Perhaps a retired pensioner who originally invested at $1.00, those things are a zero sum game, someone, wins, someone loses and in the case of this security the vast majority of people have taken an absolute beating, hence my comment about you perhaps reconsidering the merits of gloating, (generally), and especially in this case.

When I purchased my SCFHAs I paid more than anyone else was willing to pay at the time.

Now, call me a kind fool for paying so much, but if I hadn't bought them then the seller would have either gotten a lesser amount from someone else, or they wouldn't have been able to sell at all.

The other party was better off due to my prescence in the market.

Alan.

[Enumerate]

Being long SCFHA has just got interesting.

It is the measure of market sentiment to survival of SCF. There are no government guarantees - you are second "to the wall", behind equity holders, if it turns to custard.

Don't you think these rumours of an imminent transaction are interesting? From an economic development perspective - survival and reestablishment of SCF in the rural/regional commercial space does make a compelling argument. The Herald ran a very interesting and detailed story on this ... this must be more substantial than idle rumour.

Pity the poor Chis Lee following investors who have been paniced into selling at much too low a price by Michael Warrington's rather naive assessment of the situation. (BTW 9cents was the lowest price SCFHA traded at - after the Warrington letter was circulated).

[Enumerate]

Aorangi investors to request statutory management termination


http://www.stuff.co.nz/business/indu...nt-termination

Aorangi Securities Ltd (ASL) investors are being urged to write to Commerce Minister Simon Power requesting statutory management of the company be terminated.

[Enumerate]

Hubbard backers call for sackings at commission

http://www.stuff.co.nz/business/pers...-at-commission

The letter calls for the sacking of Securities Commission member Simon Botherway, who was part of the four-member division of the commission which recommended the statutory management to the Government. Mr Botherway did not declare a potential conflict of interest after his brother's companies were placed into liquidation by South Canterbury Finance (SCF) last year.