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Originally Posted by Enumerate
I bought some more at 2.3cents!!
Hindsight might show yesterdays 1.5 cent bid was a good exit for you. That bid has gone now with no other buys in the wings. No doubt there will be some spectacular revelations yet to come.
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Originally Posted by minimoke
Hindsight might show yesterdays 1.5 cent bid was a good exit for you. That bid has gone now with no other buys in the wings. No doubt there will be some spectacular revelations yet to come.
Enumerate - is thsi spectacular enough for you?
NZF
22/07/2011 13:13
GENERAL
REL: 1313 HRS NZF Group Limited
GENERAL: NZF: NZF Group Limited (NZF) - Continuous Disclosure
NZF today advises that the Board of its subsidiary company, NZF Money Limited (NZFML), have explored various options for a short-term funding solution.
After giving the matter considerable thought and taking into consideration developments over the last couple of days, the Board of NZFML do not believe
that such a short-term solution is in the best interests of NZFML or its investors.
Accordingly, the Board of NZFML have requested NZFML's Trustee, Covenant Trustee Company Limited, to appoint a receiver. Further announcements will
be made in due course.
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Have you actually done any analysis on NZF Group, Mini?
This is a situation in which this stock, in two years time, will either be worth 10x the current price; or it will be worth nothing. This is why I am unconcerned by market liquidity.
Clearly, investing into this kind of situation is not for every investor. If they do not sort their issues with retail debenture funding - bad things will happen. There are even other failure modes based on the future of the residential property market. However, if you can calculate the balance of probability ... that is why I am in NZF.
ALF did not meet my reward criteria. I hope for all concerned that it pulls through ... but it is not part of my story.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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Originally Posted by Enumerate
Have you actually done any analysis on NZF Group, Mini?
Yes i have. And part of my analysis looks for flags of warning. Yellow flags moving in a breeze I cope with. Red flags blowing in a gale usually causes me to back off but not all the time. I generally won't come back in with the detailed analysis until the flags stop waving.
Some are happy to invest in a gale and good luck to them. I prefer a return relative to the risk and some times it just ain't worth heading out into a storm.
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Originally Posted by Enumerate
Have you actually done any analysis on NZF Group, Mini?
This is a situation in which this stock, in two years time, will either be worth 10x the current price; or it will be worth nothing. This is why I am unconcerned by market liquidity.
Clearly, investing into this kind of situation is not for every investor. If they do not sort their issues with retail debenture funding - bad things will happen. There are even other failure modes based on the future of the residential property market. However, if you can calculate the balance of probability ... that is why I am in NZF.
ALF did not meet my reward criteria. I hope for all concerned that it pulls through ... but it is not part of my story.
Any concerns about NZF Money Limited withdrawing its 2010 prospectus and ceasing the issue of new secured deposits?
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Sorry, correction to the post #391. Just remembered the latest figures we had on NZF Money were from the updated prospectus at the Companies Office:
Originally Posted by Enumerate
As of mid-March NZF Money had $21m of secured retail debenture funding and $13m of equity funding!
So we are talking $21m rather than the $32m figure quoted in the half year accounts.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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He-he just call it as I see it Xerof, there is some very optimistic people and comments on here, when the facts dictate otherwise. Invessi seems to think this company can do no wrong, when in reality they have made mistake after mistake and now find themselves in a very vunerable position of having to a deal with someone if they wish to remain in business. I cannot see shareholders wanting to tip more money into this in a capital raising when a third of their shareholders didn't really want shares anyway and I believe they would be reluctant to throw good money after bad. Another comment was "NZF Money is ready to go", come on.... they have no money to lend and debenture holders are not renewing, S&P state they will be very tight cash wise for 2011 and in reality NZF Money has not been lending for some time. Anyway we will all know a bit more by the end of the month when the accounts are due (unless they miss another deadline)and we can assess the cash position and another chunky loss no doubt. Best buyer at 0.01 at present, I suspect it will be muted until the accounts are released and then I suspect he will disappear to....
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Banks desperate to lend:
http://www.nzherald.co.nz/business-e...ectid=10724593
Syndicated from interest.co.nz - I don't know why the Herald does that - I'd rather read it from a proper Herald journo - but the message is banks are looking for new lending opportunities.
I think Westpac, in particular, looks to be wanting to increase the book (this is support by other independent reports). Gotta be good for the likes of NZF Group.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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Member
Enumerate, most of the banks are starting to look for new business and One Path are expected to launch a home loans division shortly and go head to head with Sovereign. With low interest rates, we should see the market start to pick up! Are you aware that most of the main banks and Sovereign are doing 95% lending to first home buyers that qualify (NZF was also until they suspended home loan lending)
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Mike Pero to promote Fisher Funds - the more things change, the more they stay the same:
http://tvnz.co.nz/business-news/mort...isaver-4168903
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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