SUM - Summerset Group

[Baa_Baa]

No need to be confused. A lot has changed in the market in very recent times. Some people have made major portfolio changes due to market risk perceptions around the virus and others are hoping it all blows over, I am in the former category.. right up to 4.50 yesterday afternoon I held a 2/3rds position after selling a one third position due to virus risk management a couple of days prior and then the Dow futures were very ugly and I shifted to a one third position on a hunch on the close yesterday.....some would say good proactive risk management of one's portfolio.....and then there was today's result and in particular outlook statement which made it crystal clear my assumptions around FY20 underlying profit, (the real one) were far too optimistic so I sold the remaining third.
Just good risk and capital management in my view. I think this is likely to have a 6 handle at some stage, agree with you on that.
Good on you for letting some go at ~ $9..of course I was going to bark, I hadn't sold any at that stage
I've been told off all day...I must be a naughty dog.

So you are a trader when it comes down to it, a momentum trader seems to fit and you do seem to time it very well mostly. Does it work out ok after tax and broker fees? I suppose it would with SUM, it has gained a heck of a lot in recent times.

[Beagle]

The future looks bright for Summerset irrespective of what people think of today’s announcement

https://www.goodreturns.co.nz/articl...or+25+Feb+2020

Result being described as "Weak" with a "Weaker" outlook...must really mean it because Weak or Weaker is mentioned 3 times !
Got me looking up synonyms for weak in an online dictionary...lucky "pathetic" wasn't one of them but "feeble" was

[Beagle]

Yep. Might be worth the sales folk, who came up short of 330 new sales in 2019, having a chinwag with the guy on steroids buying property who has built the pipeline up to over 5,000 units. Perhaps worth discussing the two figures and giving the property acquisition man a year or two off.

But the dynamic duo of Rob and Julian wouldn't here of that. Much talk in the annual report how they are keen for more land acquisitions in Melbourne...grass must be greener on the other side of the fence eh Just do another bond issue of $125m to fix the cash flow situation, what could possibly go wrong

I am gutted by today's (outlook in particular), statement, seriously gutted and disappointed. The dream run of high growth really has come to a shuddering and screaming halt and when growth starts again its probably just going to be in line with others in this sector

[winner69]

But the dynamic duo of Rob and Julian wouldn't here of that. Much talk in the annual report how they are keen for more land acquisitions in Melbourne...grass must be greener on the other side of the fence eh Just do another bond issue of $125m to fix the cash flow situation, what could possibly go wrong

I am gutted by today's (outlook in particular), statement, seriously gutted and disappointed. The dream run of high growth really has come to a shuddering and screaming halt and when growth starts again its probably just going to be in line with others in this sector

Today Julian said 8 year earnings growth has been 38% pa

I blame you for that - he shouldn’t have read all your posts

But a real weird thing to include in the 2019 highlights - Julian must think we’re idiots

[peat]

Technically it would make a lot of sense for a correction back to $8 or thereabouts.

sorry I have to requote myself but no one even listened.
8 days ago.

[winner69]

Metlife underlying earnings down 5% puts SUM +8% in good light

MET book value hardly moved ...SUM up 16%

[winner69]

As alluded to yesterday the ‘abysmal’ underlying earnings growth is down to new sales

They had less new than 2018 but worse still the average realised gain per sale was significantly down on 2018 ...ie selling less and making less per sale

Suppose we blame the sales execs and those dastardly greedy tradies and building product suppliers.

[Beagle]

Today Julian said 8 year earnings growth has been 38% pa

I blame you for that - he shouldn’t have read all your posts

But a real weird thing to include in the 2019 highlights - Julian must think we’re idiots

LOL - When underlying profit is only up 8%, (lowest growth in their entire history) and one is forecasting no underlying profit growth this year, (weird how they can forecast that this early in the year which has never happened before, deliberate attempt to hose down the share price ?), what else do you do but cling to past glory ?...oh and sing praises of how we're carbon neutral now, like anyone really cares...

Good they're "investing" in their nurses and care givers though eh Winner...you frequently remind me that all stakeholders are just as important as each other and how Human Capital is just as important as monetary capital. You must be really impressed that the really good gains are going to staff now...give you the warm fuzzies over morning tea this morning, you're doing your bit to make so many of the workers and their families happier and happy workers look after residents better so residents are winners too. This is brilliant, its almost like some form of capitalist philanthropy and heck, even the environment is better as they're carbon neutral. Who needs strong profit growth with so much other "feel good" going on... Maybe Jude Dobson could shoot some new sales video's showing her cuddling polar bears because the current ones don't seem to be working

[Maverick]

As alluded to yesterday the ‘abysmal’ underlying earnings growth is down to new sales

They had less new than 2018 but worse still the average realised gain per sale was significantly down on 2018 ...ie selling less and making less per sale

Suppose we blame the sales execs and those dastardly greedy tradies and building product suppliers.

deleted ... wrong tread

[macduffy]

LOL - When underlying profit is only up 8%, (lowest growth in their entire history) and one is forecasting no underlying profit growth this year, (weird how they can forecast that this early in the year which has never happened before, deliberate attempt to hose down the share price ?), what else do you do but cling to past glory ?...oh and sing praises of how we're carbon neutral now, like anyone really cares...

Good they're "investing" in their nurses and care givers though eh Winner...you frequently remind me that all stakeholders are just as important as each other and how Human Capital is just as important as monetary capital. You must be really impressed that the really good gains are going to staff now...give you the warm fuzzies over morning tea this morning, you're doing your bit to make so many of the workers and their families happier and happy workers look after residents better so residents are winners too. This is brilliant, its almost like some form of capitalist philanthropy and heck, even the environment is better as they're carbon neutral. Who needs strong profit growth with so much other "feel good" going on... Maybe Jude Dobson could shoot some new sales video's showing her cuddling polar bears because the current ones don't seem to be working

You sound rather bitter there, Beagle. Don't be, it's still a good company and perhaps SUMwhat better years are ahead!