SUM - Summerset Group

[Balance]

http://www.stuff.co.nz/business/1119...cid=app-iPhone

You have to include this posting from September 2018 to put things in perspective!

Those worried that the Auckland market is in decline might want to read this http://www.sharechat.co.nz/article/8...-in-augusthtml
Labour has already stated that the family home will be exempt from any possible future CGT. I think SUM people, (perhaps currently shut out of the real estate market due to unaffordability) are getting a little over optimistic with their hopes for a 10-15% decline. Besides that if they campaign the next election on the basis of a CGT that's the end of this government's term of "governance"

[Snow Leopard]

Yup, you know what it is time for. Another picture!

So if I ever come back to live, it looks like I will be a Coaster

[peat]

my goodness what a lot of banter since a couple of days ago when I last looked!

me. I couldnt resist picking up SUM more at 5:50 the other day, not a full load, but SUM.

[Beagle]

Post #6886 - Been mulling that over this past week or so. No denying that sales have under-performed new build since Q4 last year. Julian Cook is confident of a big Q4 and building 450 units.
I am not especially confident they will sell any more than the ~ 380 they sold last year even with a big Q4. Why are new sales an issue ? We hear the much talked about multi level construction being an issue but one wonders a little seeing as their development margin has expanded to 33% whether they're simply asking too much for some of these new units ?

One could also ponder whether with the royal commission of enquiry going on in Australia and some real negative momentum in Melbourne and Sydney real estate prices whether this is the right time to be spending serious money looking at expanding into Australia ?

macduffy - resales benefiting from the fact that as whole the company has more existing stock to resell, (450 new units built last year). New sales continue to underwhelm but according to Julian Cook its all going to be solved in Q4....we'll see.

Shares have enjoyed a big run this year up 50% from $5.00 in December 2017 against a backdrop of sales underperforming since then. I took some money off the table regarding SUM today. Not because its a bad company fundamentally per se but because I see OCA as a better opportunity. I do note that SUM broke down through its 100 day moving average today so from a TA perspective that's not good. I think RYM are extremely overpriced at the current price and SUM probably fair value but questions about SUM's ability to push through consenting on difficult sites, first Boulcott and now issues with ST John's have me scratching my head a bit.

Why on earth would they propose a 7 level retirement village at St John's when the maximum height there is 3 level's ? In light of OCA's brilliant track record of obtaining consents, see post #2022 on OCA thread, I have been reflecting upon SUM's chequered track record a little lately.

Posted 8/10/2018 - Obviously one Balance missed in his Friday afternoon trolling of old posts I've made. Get a life mate
They were a little overpriced in the late $7's and clearly underpriced in the mid $5's this week. Naturally I took the appropriate portfolio actions very close to the right time. I also picked the top for RYM at $14 last year.

[Beagle]

my goodness what a lot of banter since a couple of days ago when I last looked!

me. I couldnt resist picking up SUM more at 5:50 the other day, not a full load, but SUM.

That's what happens when SUM people start posting their opinion of the future as though its a historical fact and then desperately try and cover their butts lol

Congrats on your good timing, I also got my snout into SUM more.

[Balance]

Posted 8/10/2018 - Obviously one Balance missed in his Friday afternoon trolling of old posts I've made. Get a life mate
They were a little overpriced in the late $7's and clearly underpriced in the mid $5's this week. Naturally I took the appropriate portfolio actions very close to the right time. I also picked the top for RYM at $14 last year.

Troll?

Stuck out like the proverbial on a dog, mate!

Could not be more wrong about "Disc: Looking to add SUM more on any slight pullback." Sept 2018

[Beagle]

Troll?

Stuck out like the proverbial on a dog, mate!

Could not be more wrong about "Disc: Looking to add SUM more on any slight pullback." Sept 2018

Quarterly sales came out after that and significantly disappointed as noted above. Get with the program mate its not too late, Fisher Funds Management are http://nzx-prod-s7fsd7f98s.s3-websit...327/298391.pdf

Where are all these new immigrants going to live Balance ? http://www.sharechat.co.nz/article/4...nflows-asbhtml

Net immigration up from ~ 51,000 per annum last year to ~ 61,000 people per annum. I suppose all these new people brought their own houses with them lol

[Snow Leopard]

my goodness what a lot of banter since a couple of days ago when I last looked!

me. I couldnt resist picking up SUM more at 5:50 the other day, not a full load, but SUM.

Mostly Beagle. Repetition personified!

[Beagle]

Mostly Beagle. Repetition personified!

Says the guy who has repeatedly posted 101 different ways the same message since 2004 that AIR are a very bad company.
Maybe that $1.80 you reckoned AIR were worth the other day was a typo and you meant to post $2.80

[allfromacell]

It's great to see the region's continuing their resilience however Aucklands sales down just shy 20% on March last year and the HPI falling 0.5% in the last month is a concern. Until we see Auckland turn around I won't be celebrating.