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  1. 18-09-2021, 09:50 AM #641
    winner69
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    Like the bit in that article above

    Chairman been there for years andvthere’s no lawyers or accountants on the Board

    Lawyers and accountants have no idea about retailing
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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  2. 18-09-2021, 10:32 AM #642
    Snow Leopard
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    Quote Originally Posted by winner69 View Post
    Like the bit in that article above

    Chairman been there for years andvthere’s no lawyers or accountants on the Board

    Lawyers and accountants have no idea about retailing
    Some would say that lawyers and accountants have no ideas about anything
    om mani peme hum
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  3. 18-09-2021, 10:54 AM #643
    Snoopy
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    Quote Originally Posted by winner69 View Post
    Like the bit in that article above

    Chairman been there for years and there’s no lawyers or accountants on the Board

    Lawyers and accountants have no idea about retailing
    It is funny, I went through a phase of voting against all lawyers and accountants on any board on which I was eligible to vote as a matter of principle. That isn't because I held a grudge against lawyers and accountants. It is because I thought there should have been more diversity of occupations across any board, and some of these company boards had only lawyers and accountants!

    SNOOPY
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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  4. 18-09-2021, 12:27 PM #644
    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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  5. 18-09-2021, 12:49 PM #645
    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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  6. 18-09-2021, 01:12 PM #646
    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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  7. 18-09-2021, 01:47 PM #647
    Rawz
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    I have found Mr market can sometimes be an incoherent, drunk monkey at times
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  8. 18-09-2021, 02:24 PM #648
    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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  9. 18-09-2021, 02:31 PM #649
    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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  10. 18-09-2021, 03:09 PM #650
    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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