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  1. #4621
    percy
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    Quote Originally Posted by Baa_Baa View Post
    That's a good summation imo, even new sales yards have to unload the old cars traded-in that are no good to the new car sales yard or out of spec for their used cars 'holdings' profile, and Turners or the wreckers are the go to option for those new car sales yards -- they have to have a dumping ground or their new car sales deal (or late model used car) won't fly.

    I've had a few vehicles over the years that I've driven into the ground or are terminally broken, and all of them were eagerly traded by the car yard because they flicked them over to Turners yard or auction who paid me an exit price. Some were really ****ed up, still the minimum trade offered was $3k, one was a absolute basket case, still got $10k for it. So Turners have a business model for near-to or end of life vehicles, one might assume it works for Turners otherwise they wouldn't take all those crappers

    Interesting to flick through the Turners website and see some of the crap they do end up with, especially repo's and insurance claims. Makes one wonder what they do with that stuff if they can't sell it? Maybe they don't own them and are only selling on behalf? Maybe they clip the ticket on dumping the no sells into the metals merchants, the crushers.

    percy will know, he knows everything about Turners and it's good to have his balancing insights when otherwise the crowd is and has been for ages baying for blood on TRA. I don't care much for his investment ideals and tolerance for capital losses, but it's good imho to have such a deep insight into the company and have a rational answer for almost everything negative said about the company. Food for thought, appreciated here, if not elsewhere.

    Not far now until the 50MA resistance test at $2.33, if that is breached you'd have to think the low is in and then we might see some SP follow through action to the upside. Then again, that SP is resistance and could be a turning point reverting to (staying in) the down trend. TRA's SP definitely has taken a beating, not sure if it's warranted, but I don't argue with sentiment.
    Your trade-ins.The dealer most probably offered over the top price as he had a big margin in the car you were buying.He then most probably put it in a Turners Auction to clear it.Had Turners ended up buying it ,they would not have paid anything like the price the dealer traded it.Most dealers will quote you the cash difference when you are trading.However when they do their paper work they adjust their figures. I find the best way to buy a car is with no trade-in, and offer cash.It focusses the dealers attention.
    End of Life Vehicles.Huge business for Turners.Mainly logistics and sales for insurance companies,although Turners will buy unregistered cars off private sellers.I live not far from Turners Curries Road End of Life site.Big business mainly selling damaged or wrecked cars to panel beaters and car wreckers.Huge yard with some cars stacked two or three high.Quick turnover too.

    Capital losses are only there when realised.You may remember Graeme Hart buying Burns Phip shares around $2.00 only to see the sp fall to under 20 cents.What a joke.Because he had done his research Hart had the last laugh..Hart always followed the cash through the business before he brought.Like Hart I too have had the last laugh a few times.The biggest was buying Smiths City when they went into receivership.Started buying the day they were delisted, and kept buying for the next few years while they were not listed,Was "well positioned" when they relisted.
    I do not say my way of investing is better than others,however it has worked for me.
    Last edited by percy; 12-03-2019 at 10:06 AM.

  2. #4622
    ShareTrader Legend Beagle's Avatar
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    Yeap, minimum trade-in of $3K has the $3K straight on top on every car on the lot, as a minimum, usually more. Dealer knows they will get a minimum of $300 from a wrecker which is their handling fee for the hassle of taking a piece of junk as a trade. Sometimes if the car has a warrant they can get a bit more.
    No butts, hold no mutts, (unless they're the furry variety).

  3. #4623
    An Awesome Cool Cat winner69's Avatar
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    Hope Todd Turner comes out this week with a proper update as to what the full year is looking like
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  4. #4624
    percy
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    Quote Originally Posted by winner69 View Post
    Hope Todd Turner comes out this week with a proper update as to what the full year is looking like
    Maybe?
    I note last year it was in their 4th April shareholders newsletter.

    ps.Todd Hunter at Turners.
    Last edited by percy; 12-03-2019 at 10:00 AM.

  5. #4625
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    Quote Originally Posted by percy View Post
    Maybe?
    I note last year it was in their 4th April shareholders newsletter.

    ps.Todd Hunter at Turners.
    No, no ...you save words by just saying Todd Turner
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  6. #4626
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    Quote Originally Posted by winner69 View Post
    No, no ...you save words by just saying Todd Turner
    Just like Elon Tesla, Tim Apple, Bill Microsoft, Jeff Google, Mark Facebook etc....

    On more relevant note, notice there were no buy back y'day on a day when price went up. May be they should stop the buy back programme now

  7. #4627
    percy
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    Quote Originally Posted by winner69 View Post
    No, no ...you save words by just saying Todd Turner
    I guess Todd saves a lot more words not giving a weekly updates?......................lol.
    Last edited by percy; 12-03-2019 at 10:26 AM.

  8. #4628
    percy
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    Quote Originally Posted by sb9 View Post
    Just like Elon Tesla, Tim Apple, Bill Microsoft, Jeff Google, Mark Facebook etc....

    On more relevant note, notice there were no buy back y'day on a day when price went up. May be they should stop the buy back programme now
    Why.?
    I think the board [who are large shareholders themselves] felt the shares were worth well over $3.00.
    I am happy, as I get a bigger slice of the cake without buying more myself.
    A win win situation.?
    Last edited by percy; 12-03-2019 at 10:22 AM.

  9. #4629
    Legend minimoke's Avatar
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    $2.29 at the moment. Certainly seems like the hand brake has been released

  10. #4630
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    Quote Originally Posted by minimoke View Post
    $2.29 at the moment. Certainly seems like the hand brake has been released
    Instos (maybe even Aussie ones) seen the light of day .....$2.50 beckons soon

    And then that perfect inverse bell curve pattern will continue to form and later in year the share price will be back to about $3.80

    FUndamentals look fantastic (wasn’t really a downgrade before Xmas) and TA well that’s BULLISH, BULLISH as
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  11. #4631
    Legend minimoke's Avatar
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    Quote Originally Posted by winner69 View Post
    Instos (maybe even Aussie ones) seen the light of day .....$2.50 beckons soon
    I look forward to that - then I'l be at break even point with this old clunker

  12. #4632
    percy
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    Quote Originally Posted by minimoke View Post
    I look forward to that - then I'l be at break even point with this old clunker
    And in approx 7 weeks time you will receive another fully imputed dividend.
    I love Turners quarterly divies..

  13. #4633
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    Instos (maybe even Aussie ones) seen the light of day .....$2.50 beckons soon

    And then that perfect inverse bell curve pattern will continue to form and later in year the share price will be back to about $3.80

    FUndamentals look fantastic (wasn’t really a downgrade before Xmas) and TA well that’s BULLISH, BULLISH as
    Sometimes I find it difficult to read your irony.

    I guess the TA looks quite unusual and might well turn into a cup with handle ... but wouldn't you expect material volume in a "BULLISH, BULLISH" uptrend?

    InkedTRALatest.jpg
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  14. #4634
    percy
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    Quote Originally Posted by LAC View Post
    Iv bought a few as well😉
    Above posted 06-03-2019
    You and SCOTTY certainly appeared to get your timing perfect.
    Well done.

  15. #4635
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by winner69 View Post
    Instos (maybe even Aussie ones) seen the light of day .....$2.50 beckons soon

    And then that perfect inverse bell curve pattern will continue to form and later in year the share price will be back to about $3.80

    FUndamentals look fantastic (wasn’t really a downgrade before Xmas) and TA well that’s BULLISH, BULLISH as
    $2.29 is a break up through the 30 day moving average. Interesting that none were bought back yesterday so the buying is real.
    Looks like Couta1 was right and $2.14 was the bottom and we won't see under $2 after all. Might be quite a while before Couta1, you and Percy get your $3.80 though.
    Last edited by Beagle; 12-03-2019 at 12:09 PM.
    No butts, hold no mutts, (unless they're the furry variety).

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