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  1. #5446
    An Awesome Cool Cat winner69's Avatar
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    Working on your normalised profit calculations I hope Snoopy

    Looking forward in seeing what you come up ...compared to your ‘forecast’
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  2. #5447
    Legend
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    Quote Originally Posted by winner69 View Post
    Working on your normalised profit calculations I hope Snoopy

    Looking forward in seeing what you come up ...compared to your ‘forecast’
    Not yet Winner. I am having a year of doing a lot of things away from 'home base'. Last time I was back there (last week) no TRA annual report hard copy had yet arrived. And because I like to scribble on mine, I haven't even looked at the soft copy available on line. In any case I would advise any investors in TRA not to stress about it. Limited downside from here is my view. Looking forward to my own report on TRA, very likely on this channel, when it all comes out in the wash!

    SNOOPY
    To be free or not to be free. That is the cash-flow question....

  3. #5448
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    Quote Originally Posted by Snoopy View Post
    Not yet Winner. I am having a year of doing a lot of things away from 'home base'. Last time I was back there (last week) no TRA annual report hard copy had yet arrived. And because I like to scribble on mine, I haven't even looked at the soft copy available on line. In any case I would advise any investors in TRA not to stress about it. Limited downside from here is my view. Looking forward to my own report on TRA, very likely on this channel, when it all comes out in the wash!

    SNOOPY
    Good stuff ...I look forward to it

    Enjoy your time away from home base
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  4. #5449
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    $$$ in the bank

  5. #5450
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    Quote Originally Posted by LAC View Post
    $$$ in the bank
    Yes...if my average buy was a lot less than 302 I’d be happy.
    But it isn’t sadly.

  6. #5451
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    Our average buy is also north of $3.00 but do appreciate the quarterly dividends rolling in - hopefully the share price will turn around and show some decent gains in the not too distant future

  7. #5452
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by CD_CHCH View Post
    Our average buy is also north of $3.00 but do appreciate the quarterly dividends rolling in - hopefully the share price will turn around and show some decent gains in the not too distant future
    Wishing you luck ... though wiser people than me tend to re-iterate that hope is not an investment strategy ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  8. #5453
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    Valid point and if I'm hearing you correctly our stock picking strategy shouldn't involve throwing a dart at the NZX listings in Saturday's newspaper?

  9. #5454
    percy
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    TRA are an important part of my portfolio.Sound dividends and prospects of solid earnings growth.
    My wife's and my portfolios have been updated by Craigs this morning.Our portfolios have a mixture of growth and yield stocks.
    The objective has been to achieve 5% growth and 5% dividend yield.
    Since exactly a year ago they have achieved 26.95% growth.On top of this we have enjoyed substantial income from dividends.
    With this growth, the dividend % yield has decreased,although the dividends have increased.No dividend reinvestments.
    Solid research rather than hope provides growth and yield .
    The coming year objectives are:5% plus growth and steady dividends.
    Last edited by percy; 19-07-2019 at 02:48 PM.

  10. #5455
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by percy View Post
    TRA are an important part of my portfolio.Sound dividends and prospects of solid earnings growth.
    My wfe and my portfolios have been updated by Craigs this morning.Our portfolios have a mixture of growth and yield stocks.
    The objective has been to achieve 5% growth and 5% dividend yield.
    Since exactly a year ago they have achieved 26.95% growth.On top of this we have enjoyed substantial income from dividends.
    With this growth, the dividend % yield has decreased,although the dividends have increased.No dividend reinvestments.
    Solid research rather than hope provides growth and yield .
    Hi percy, great that you and your wife have been that successful, despite investing parts of your funds into TRA. Just imagine, though what returns you would have had without having TRA as handbrake in your portfolio.

    Look - it is great that you and your wife can afford to invest into TRA despite making losses, but maybe not everybody on this forum is in the same fortunate position. But let's forget about Turners not so spotless history (in terms of conserving shareholder value) - I struggle to understand why you think that they would be now a good investment?

    Sure - they might be the next big thing as "netflix of the car industry" and maybe they release as well a highly successful cryptocoin - who knows? but let's face it - the indicators and the odds for TRA look currently not particularly good.

    BTW - Just wondering, whether Todd starts to regret his netflix comparison ... he used it before netflix released their latest growth numbers .... Ouch. Maybe the comparison was not that wrong ...

    Look - they (Turners) are just a plain old used car company which used to have an interesting looking growth strategy which however did not work, and they recently ditched it. They demonstrated that they are not able to grow their earnings with insurance and finance (and this is not due lack of trying) and their (cyclical) core business is currently shrinking.

    Not quite sure what makes them standing out of the crowd ... sure, they are reasonable big, but their cars are (as with most other second hand dealers) not always a Paragon of Excellence ... and if you check their customer reviews, they are a mixed bag as well.

    They are now saying they try something different with this car sharing platform, but lets face it - they have neither industry nor regional (Australia) experience. I would consider this as a very high risk proposition coming from a company and a board with a long term history of reducing shareholder funds.

    Question - if they are really successful - where do you see them going? And where, if they just continue their current trajectory?

    Is it worth the risk?
    Last edited by BlackPeter; 19-07-2019 at 01:11 PM.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  11. #5456
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    Quote Originally Posted by BlackPeter View Post
    Hi percy, great that you and your wife have been that successful, despite investing parts of your funds into TRA. Just imagine, though what returns you would have had without having TRA as handbrake in your portfolio.

    Look - it is great that you and your wife can afford to invest into TRA despite making losses, but maybe not everybody on this forum is in the same fortunate position. But let's forget about Turners not so spotless history (in terms of conserving shareholder value) - I struggle to understand why you think that they would be now a good investment?

    Sure - they might be the next big thing as "netflix of the car industry" and maybe they release as well a highly successful cryptocoin - who knows? but let's face it - the indicators and the odds for TRA look currently not particularly good.

    BTW - Just wondering, whether Todd starts to regret his netflix comparison ... he used it before netflix released their latest growth numbers .... Ouch. Maybe the comparison was not that wrong ...

    Look - they (Turners) are just a plain old used car company which used to have an interesting looking growth strategy which however did not work, and they recently ditched it. They demonstrated that they are not able to grow their earnings with insurance and finance (and this is not due lack of trying) and their (cyclical) core business is currently shrinking.

    Not quite sure what makes them standing out of the crowd ... sure, they are reasonable big, but their cars are (as with most other second hand dealers) not always a Paragon of Excellence ... and if you check their customer reviews, they are a mixed bag as well.

    They are now saying they try something different with this car sharing platform, but lets face it - they have neither industry nor regional (Australia) experience. I would consider this as a very high risk proposition coming from a company and a board with a long term history of reducing shareholder funds.

    Question - if they are really successful - where do you see them going? And where, if they just continue their current trajectory?

    Is it worth the risk?
    Good post BP. They are a part of my portfolio as well. And I am a bit concerned.
    However....like most things in there...they are only 3.44 % (used to be bigger).
    The value (SWAN) of a well diversified portfolio is significant, especially when one of the companies go south.

  12. #5457
    percy
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    Quote Originally Posted by BlackPeter View Post
    Hi percy, great that you and your wife have been that successful, despite investing parts of your funds into TRA. Just imagine, though what returns you would have had without having TRA as handbrake in your portfolio.

    Look - it is great that you and your wife can afford to invest into TRA despite making losses, but maybe not everybody on this forum is in the same fortunate position. But let's forget about Turners not so spotless history (in terms of conserving shareholder value) - I struggle to understand why you think that they would be now a good investment?

    Sure - they might be the next big thing as "netflix of the car industry" and maybe they release as well a highly successful cryptocoin - who knows? but let's face it - the indicators and the odds for TRA look currently not particularly good.

    BTW - Just wondering, whether Todd starts to regret his netflix comparison ... he used it before netflix released their latest growth numbers .... Ouch. Maybe the comparison was not that wrong ...

    Look - they (Turners) are just a plain old used car company which used to have an interesting looking growth strategy which however did not work, and they recently ditched it. They demonstrated that they are not able to grow their earnings with insurance and finance (and this is not due lack of trying) and their (cyclical) core business is currently shrinking.

    Not quite sure what makes them standing out of the crowd ... sure, they are reasonable big, but their cars are (as with most other second hand dealers) not always a Paragon of Excellence ... and if you check their customer reviews, they are a mixed bag as well.

    They are now saying they try something different with this car sharing platform, but lets face it - they have neither industry nor regional (Australia) experience. I would consider this as a very high risk proposition coming from a company and a board with a long term history of reducing shareholder funds.

    Question - if they are really successful - where do you see them going? And where, if they just continue their current trajectory?

    Is it worth the risk?
    Some things I do not know.
    Was talking to my friend this morning who reminded me he told me to buy ATM at 17 cents, and he noted they are trading at near $17.00.
    I also thought TradeMe would never work.Thought Morgan should have taken the $35 mil he was offered.Surprised he got $750mil.
    Turners are NZ's largest second hand car dealer.They have the super strong Turners brand .They are finding there are many chanels to reach their customers and grow their business.Their business is both growing and gaining market share.Their new and relocated sites are trading well.7 more on the way!
    Yes mistakes were made,ie BuyRight Cars and non-recourse MTF loans.BuyRight Cars has been rebranded Turners, and the non-recourse loans were stopped and will run their course over the next 2 years.
    The car sharing platform could be another A2 or TradeMe.Turners would be fools not to look into it.Remember all the rubbish posted about HGH taking on RELs.Now the biggest part of their business. What if the car sharing does not work?. Very little cost to Turners [1 or 2mil] finding out.
    Last edited by percy; 19-07-2019 at 02:13 PM.

  13. #5458
    percy
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    Quote Originally Posted by RTM View Post
    Good post BP. They are a part of my portfolio as well. And I am a bit concerned.
    However....like most things in there...they are only 3.44 % (used to be bigger).
    The value (SWAN) of a well diversified portfolio is significant, especially when one of the companies go south.
    Monday 12th August 2pm.Turners Corner,cnr Walton and Manu Roads ,Whangarei.....
    Be there and catch Todd and Aaron.
    They will answer all your questions frankly and honestly.

  14. #5459
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    BP - don’t forget percy is an ‘investor’ and seems a pretty disciplined one at that. His timeframe is generally years and not days, weeks or months. No buying and selling on whims and every gyration of the market.

    Every holding won’t be a winner at any particular time ....’investors’ always have some ‘losers’

    Good on you percy
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  15. #5460
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    BP - don’t forget percy is an ‘investor’ and seems a pretty disciplined one at that. His timeframe is generally years and not days, weeks or months. No buying and selling on whims and every gyration of the market.

    Every holding won’t be a winner at any particular time ....’investors’ always have some ‘losers’

    Good on you percy
    Absolutely - just failing at the moment to see the big upside compared to the risks ...

    And sure - we all have our fair share of losers in the portfolio (well, I do - and TRA was one of them). It is just that sometimes it appears that for holders the endowment effect is overtaking the analytical skills :
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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