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  1. #5371
    percy
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    Go back a page and find out why.

  2. #5372
    Legend Balance's Avatar
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    Quote Originally Posted by percy View Post
    Go back a page and find out why.
    Convenient, isn't it?

  3. #5373
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    Quote Originally Posted by Balance View Post
    http://nzx-prod-s7fsd7f98s.s3-websit...288/301966.pdf

    So Paul has sold 703,000 shares on market so far.
    You know what they say. How do you end up being a millionaire in the hospitality business. Start with $2m

  4. #5374
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    Quote Originally Posted by Balance View Post
    http://nzx-prod-s7fsd7f98s.s3-websit...288/301966.pdf

    So Paul has sold 703,000 shares on market so far.
    With last weeks 77,000 shares and the 120,000 he’s sold to Hunter he’s hocked off 900,000 in total.

    Restaurants are expensive you know ......even more than normal if they have a deck area for dining.

    Obviously better prospects in food than selling cars
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  5. #5375
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    Quote Originally Posted by minimoke View Post
    You know what they say. How do you end up being a millionaire in the hospitality business. Start with $2m
    I agree with hospitality it is so difficult to make money. Best to stick to what you know best. If you know nothing about hospitality you might need to sell a few more shares to keep the business afloat.

  6. #5376
    percy
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    Quote Originally Posted by Ggcc View Post
    I agree with hospitality it is so difficult to make money. Best to stick to what you know best. If you know nothing about hospitality you might need to sell a few more shares to keep the business afloat.
    His history/ track record shows he is sticking to what he knows best.

    ps Forgot I was not bothering to post on this thread.Quess Todd brought me back.lol.
    Last edited by percy; 19-06-2019 at 04:21 PM.

  7. #5377
    An Awesome Cool Cat winner69's Avatar
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    Hope the others who have skin in the game haven’t decided that property (and restaurants) are a better bet...and decided that enough is enough and are moving on
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  8. #5378
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    Quote Originally Posted by winner69 View Post
    Hope the others who have skin in the game haven’t decided that property (and restaurants) are a better bet...and decided that enough is enough and are moving on
    First come, best dressed! Paul has taken some of his money out by selling some of the horrendously undervalued shares before others do?

    Restaurant trade? The late Anthony Bourdain wrote this :

    "TO WANT TO OWN a restaurant can be a strange and terrible affliction.

    What causes such a destructive urge in so many otherwise sensible people?

    Why would anyone who has worked hard, saved money, often been successful in other fields, want to pump their hard-earned cash
    down a hole that statistically, at least, will almost surely prove dry?

    Why venture into an industry with enormous fixed expenses (rent, electricity, gas, water, linen, maintenance, insurance,
    license fees, trash removal, etc.), with a notoriously transient and unstable workforce, and highly
    perishable inventory of assets?

    The chances of ever seeing a return on your investment are about one in five.

    What insidious spongiform bacteria so riddles the brains of men and women that they stand there on the tracks, watching the lights of the oncoming locomotive, knowing full
    well it will eventually run them over?

    After all these years in the business, I still don't know."

  9. #5379
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    Quote Originally Posted by Balance View Post
    First come, best dressed! Paul has taken some of his money out by selling some of the horrendously undervalued shares before others do?

    Restaurant trade? The late Anthony Bourdain wrote this :

    "TO WANT TO OWN a restaurant can be a strange and terrible affliction.

    What causes such a destructive urge in so many otherwise sensible people?

    Why would anyone who has worked hard, saved money, often been successful in other fields, want to pump their hard-earned cash
    down a hole that statistically, at least, will almost surely prove dry?

    Why venture into an industry with enormous fixed expenses (rent, electricity, gas, water, linen, maintenance, insurance,
    license fees, trash removal, etc.), with a notoriously transient and unstable workforce, and highly
    perishable inventory of assets?

    The chances of ever seeing a return on your investment are about one in five.

    What insidious spongiform bacteria so riddles the brains of men and women that they stand there on the tracks, watching the lights of the oncoming locomotive, knowing full
    well it will eventually run them over?

    After all these years in the business, I still don't know."
    Yes, a bit like being run over by a MOA.

  10. #5380
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    Quote Originally Posted by toddhunter View Post
    I will try again...hopefully that works Austen.
    Agreed the site is well placed with good visibility by the public. Being on "car alley" is also good for tyre kickers. Everything else is just aesthetics and as you say a matter of opinion. The people going to a fancy Porsche or Jaguar showroom down the road are not going to come this Turners yard anyway and the people who do come are more likely to avoid a fancy place because they know it just results in high prices.

  11. #5381
    An Awesome Cool Cat winner69's Avatar
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    Suppose selling one car a day (on average) at the Wellington site is a pretty good effort

    Would have to think there are quite a few really quiet days with no sales being made.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  12. #5382
    percy
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    Quote Originally Posted by winner69 View Post
    Suppose selling one car a day (on average) at the Wellington site is a pretty good effort

    Would have to think there are quite a few really quiet days with no sales being made.
    Certainly is.
    One complete stock turn every 5 or 6 weeks.

  13. #5383
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    Quote Originally Posted by percy View Post
    Certainly is.
    One complete stock turn every 5 or 6 weeks.
    Not as good as a restaurant though. Stock turn every 3 days!

  14. #5384
    percy
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    Quote Originally Posted by Balance View Post
    Not as good as a restaurant though. Stock turn every 3 days!
    Even better if you are like Paul Byrne and own the property too.

  15. #5385
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    Quote Originally Posted by percy View Post
    Certainly is.
    One complete stock turn every 5 or 6 weeks.
    Fake news percy

    Hard to count the cars in the photos but it looks like 70 to 80 ....website says 70 vehicles available

    Using the 70 number that’s complete stock turn every 10 weeks
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

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