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  1. 18-09-2021, 12:27 PM #1
    Beagle
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    Briscoes forward PE if they make forecast is 18.3 Hmmm
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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  2. 18-09-2021, 12:49 PM #2
    Waltzing
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    not a high P/E thought in this market ? Not low and a lot higher than HLG ...

    HLG hit hard for being in AUS.

    Briscoes might be seen as the safer business and why a higher P/E.
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  3. 18-09-2021, 01:12 PM #3
    Beagle
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    Its an interesting one. 18 times forward earnings is right at the very top end for Briscoes historically and for the retail sector.
    Market is saying there is no risk of us yoyoing in and out of lockdown. How realistic is the market's assessment of that risk as far as Briscoes are concerned ? https://www.nzherald.co.nz/nz/covid-...LAGEBAYTIEPKE/
    On the other hand risk appears to be well and truly baked into all the other retailers.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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  4. 18-09-2021, 02:31 PM #4
    winner69
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    Briscoe more highly rated than HLG at the moment because Briscoes not seen as a cyclical stock.

    Cyclicals have low PE ratios at the top of the cycle and high PEs at the bottom ....

    HLG relative low (perceived) PE at moment as its at a cyclical high

    Market not having an incoherent drunk monkey moment - all rationale
    Last edited by winner69; 18-09-2021 at 03:00 PM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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  5. 18-09-2021, 01:47 PM #5
    Rawz
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    I have found Mr market can sometimes be an incoherent, drunk monkey at times
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  6. 18-09-2021, 02:24 PM #6
    JohnnyTheHorse
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    At this level I am out. Great company (best of breed) however I can't justify the PE it's trading on vs sector peers.
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  7. 18-09-2021, 03:09 PM #7
    winner69
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    Quote Originally Posted by JohnnyTheHorse View Post
    At this level I am out. Great company (best of breed) however I can't justify the PE it's trading on vs sector peers.
    PE ratios have a degree of relativity with in a sector

    Be a boring world if there was a rule that all retail stocks shall have the same PE multiple

    ‘Best of breed’ seem to get rated highly …..RYM, MFT etc etc
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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  8. 18-09-2021, 03:51 PM #8
    Beagle
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    Quote Originally Posted by winner69 View Post
    PE ratios have a degree of relativity with in a sector

    Be a boring world if there was a rule that all retail stocks shall have the same PE multiple

    ‘Best of breed’ seem to get rated highly …..RYM, MFT etc etc
    Yeah that's fair to a point but then sometimes a best of breed stock gets priced so high for perfection relative to its peers it badly underperforms for years afterwards...RYM a perfect example of that in recent years.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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  9. 18-09-2021, 05:54 PM #9
    Rawz
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    When did the supermarkets pay stupid money for 10% blocking stakes? Could be that.
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  10. 18-09-2021, 06:38 PM #10
    nztx
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    Quote Originally Posted by Rawz View Post
    When did the supermarkets pay stupid money for 10% blocking stakes? Could be that.
    Was it stupid money at the time they jumped in ?

    Possibly not - it may be just looks that way on values at end of their little ride ..
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