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  1. #591
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    Quote Originally Posted by Schrodinger View Post
    Bit of value @ .99? maybe a takeover by the Aussies..
    Suncorp perhaps? or QBE....

  2. #592
    Legend peat's Avatar
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    CFD's are pretty useful for shorting trades. TWR is available under CMC's limited cover of NZ shares for long or short positions.

  3. #593
    Speedy Az winner69's Avatar
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    Another down day today

    Doesn't seem to be any signs of the down trend ending soon
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #594
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    Quote Originally Posted by winner69 View Post
    Another down day today

    Doesn't seem to be any signs of the down trend ending soon
    I think this is the bottom of the trough, opportunity to accumulate if you have the dolls

  5. #595
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Jim View Post
    I think this is the bottom of the trough, opportunity to accumulate if you have the dolls
    Any particular reason you want to share with us for this line of thought?

    Chart looks very bearish to me ... and while the RSI is in deeply oversold territory ... just look at what happened the last couple of times with the share price when it was in this territory ... (hint: it plateaued and had than another steep drop).
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  6. #596
    percy
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    The downtrend remains intact.

  7. #597
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    Quote Originally Posted by percy View Post
    The downtrend remains intact.
    No surprises. I used to work here & I would not insure a thing with them or invest a penny with them.

  8. #598
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    Sep 2012
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    I have been watching tower for a while now... the thing that puts me off is the dividend policy is up for review, which to me means no dividends for a while. I think there is a lot more pain to come on this one.

  9. #599
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    Quote Originally Posted by cdonald View Post
    I have been watching tower for a while now... the thing that puts me off is the dividend policy is up for review, which to me means no dividends for a while. I think there is a lot more pain to come on this one.
    No doubt they will reduce the divs probably to zero. I still think Tower has a protectable customer base and remains a takeover target so will recover. It remains to be seen how long that will take. Pure value investor opinion here.

  10. #600
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    Quote Originally Posted by Schrodinger View Post
    No doubt they will reduce the divs probably to zero. I still think Tower has a protectable customer base and remains a takeover target so will recover. It remains to be seen how long that will take. Pure value investor opinion here.
    I tend to agree - no dividends for maybe 18 months as they retain cash to work through expensive Christchurch claims tail end. The situation with Peak Re is the greater concern as it could be a $50m hole in the accounts which would need to be plugged by a rights issue (which would be ironic given the shares the company was buying back at $2 a pop) to ensure they meet capital adequacy etc. A rights issue would likely be something ugly like a 1 for 2 at 60-70 cents.

    The parent can draw down debt to cover it and they are debt free as a group which is very good. Just overall a lot of uncertainty and definitely a value play as the upside is still $1.80-$2.20 for a "clean" Tower making around $25m npat annually and paying out most of it in dividends or renewed share buybacks. The Peak Re situation needs to be sorted asap.

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