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  1. #11371
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    Quote Originally Posted by percy View Post
    Received my FIN number today in the post, after I rang Link for it on Monday,so voted online.
    Wife was able to vote via post the other day.
    So we have done our bit.
    You need a FIN number to sell shares. Does this mean that you are only buyer?

  2. #11372
    percy
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    Quote Originally Posted by 777 View Post
    You need a FIN number to sell shares. Does this mean that you are only buyer?
    No my FIN number,and the wife's,are encrypted in Craigs' system.Craigs' can not tell me what it is. I had to ring the share registry to get it,and they only post it.
    I get my correspondence via email,to save waste,and get hard/printed copy for the wife,so she had no trouble voting..

  3. #11373
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    They kindly emailed my FIN to me percy as long as i promised to delete the email.
    Maybe like me 777, i forgot FIN and where i recorded it.

  4. #11374
    percy
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    Quote Originally Posted by Joshuatree View Post
    They kindly emailed my FIN to me percy as long as i promised to delete the email.
    Maybe like me 777, i forgot FIN and where i recorded it.
    You must have a better phone manner than me.....lol.
    Crazy but it was the same number I tried, that did not work on Sunday.
    I put ours in a safe place,only trouble it was years ago and now I can't remember where that safe place was.Early or late stages of Alzheimers,I forget which.?
    Last edited by percy; 14-09-2018 at 04:07 PM.

  5. #11375
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    Quote Originally Posted by percy View Post
    You must have a better phone manner than me.....lol.
    Crazy but it was the same number I tried, that did not work on Sunday.
    I put ours in a safe place,only trouble it was years ago and now I can't remember where that safe place was.Early or late stages of Alzheimers,I forget which.?
    Yes that’s what happened to me twice. Link systems are pretty crap at times
    “I know that I am intelligent, because I know that I know nothing “ — Socrates

  6. #11376
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    Quote Originally Posted by winner69 View Post
    Link systems are pretty crap at times
    But the Computershare website still makes Link look good!

  7. #11377
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    Quote Originally Posted by BlackPeter View Post
    Maybe we talked cross purpose ... just in case you are referring to my posts. I absolutely agree that NZ would need a financial authority overseeing banks, insurance business and actually all listed companies. NZ seems still to be the wild west - too many crooked and incompetent boards (not referring to HBL here) and no authority seems to be seriously concerned to sort the mess out.

    Whoever thinks that the RBNZ will protect them as shareholders is wrong.

    So, yes - lets get some financial authority properly resourced (with teeth) and tasked to keep our boardrooms crook free and our companies playing to the rule book.

    However - whoever thinks that the RBNZ is this authority in its current state is mistaken - at the moment the RBNZ is not doing more for shareholders than a "she'll be right" bumper sticker at the car. Only difference - the bumper sticker might be more funny and less damaging (remember - the RBNZ even prevented the CBL board to comply with the continuous disclosure regime). I am not sure whether RBNZ are the good guys. In my view they should be investigated by themselves before they are assumed to protect others
    I don't think I was clear about what I had in mind by doubling down on what the Reserve Bank of New Zealand do in overseeing Heartland Bank.

    There is a section in the annual report titled 'Capital Adequacy' with a subsection on 'Capital Ratios'. The 'Minimum Total Capital as Condition of Registration' for Heartland is listed as 8%.

    While the Reserve Bank consider this restriction:

    1/ Appropriate for the stability of the banking system.

    they also consider it fair game to ...

    2/ Give shareholders and deposit holders a haircut in pursuit of the stability of the banking system.

    I am all for 1/ but not so keen on 2/. So to protect my interests as a shareholder and/or debenture holder I see that it will only be in my interest to invest in Heartland if:

    'Minimum Total Capital as a Condition of Snoopy Investment' is >> 8% (That means much much greater than 8%).

    Employing more people in the Reserve Bank compliance/regulation department won't do this. You have to make your own calculation taking into account what level of total backing capital that you think is acceptable. There is no reinvention of the wheel here. I would advocate exactly the same registration test that the Reserve Bank does, but with a suitably higher acceptable threshold.

    SNOOPY
    Last edited by Snoopy; 14-09-2018 at 09:18 PM.
    Management top tip: Share the responsibility. Change your name by deed-poll to "Someone Else"

  8. #11378
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    well set out Beagle.
    As one great poster on this forum used to say every action sees a reaction. A sort of Newtons 3rd Law for the markets

    I see this phase of HBL as undergoing a 'reaction' as a direct response to the 'action' of the last year.

    Currently this is manifesting itself as a descending triangle , crudely shown here

    HBL-Triangle.JPG

    which raises a possible target of $1.55. Indeed this matches a previous support/resistance zone in late 2016.

    I am also seeing some divergence in the RSI which may point to a turnaround but its somehow not that convincing
    HBL-Divergence.JPG

    What worries me is that right leaning H+S where we just gapped through the shoulder line. Even if the gap gets filled in a 'back to test' scenario its likely the downwards gap is portending lower prices.




    HBL-H+S+gap.JPG

    I'll wait for clearer evidence of a reversal but will totally keep looking for it

    My Mum has a reverse mortgage with CBA , quite possibly funded by HBL, its safe as houses I reckon, the limit is small compared to value, but it keeps her flush in cash which I reckon is nice.
    For clarity, nothing I say is advice....

  9. #11379
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    Go for a dividend adjusted chart or use weekly bars and you have no gap to worry about
    om mani peme hum

  10. #11380
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    Peat - scary charts mate

    The H&S pattern particulary scary ..... looks we heading to $1.40 or lower if it plays out and has a bit of bling added. That should send the shivers up Beagles spine

    Beautiful eh
    Attached Images Attached Images
    “I know that I am intelligent, because I know that I know nothing “ — Socrates

  11. #11381
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    Just as well I sold right at the head...gives me more wiggle room around the shoulders now I'm back in eh Winner. TA does not look flash but FA does ! Might be a while before you get your $2.50 though
    No butts, hold no mutts, (unless they're the furry variety).

  12. #11382
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    I have started to buy. Have close to 1M shares. This is a good co and is in niche markets .,but i take risk and do not often sell,just hold. Lucky the shares are for the kids.

  13. #11383
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    Heartlands much touted NIM (more than double its peers) doesn’t seem to translate into superior ROE. Heartland’s ROE is just average and nothing special.

    Using Beagles peer group and tabling their ROE and Price Book ratios gives interesting insights as below.

    Appears as if a Heartland share price of $1.66 is neither cheap or expensive.

    Price/Book for me a better measure than PE ratios etc ....note higher the ROE the more it’s rewarded with a higher multiple

    Numbers from Morningstar so don’t blame me if wrong
    Attached Images Attached Images
    Last edited by winner69; 15-09-2018 at 02:39 PM.
    “I know that I am intelligent, because I know that I know nothing “ — Socrates

  14. #11384
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    Quote Originally Posted by winner69 View Post
    Peat - scary charts mate

    The H&S pattern particulary scary ..... looks we heading to $1.40 or lower if it plays out and has a bit of bling added. That should send the shivers up Beagles spine

    Beautiful eh
    Might be tempted to do "A Couta1" if it goes down there. Coutts needs to come up with SUM relativity theory for this one.
    No butts, hold no mutts, (unless they're the furry variety).

  15. #11385
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    Quote Originally Posted by Marilyn Munroe View Post
    The Reserve Bank of New Zealand is not your friend. Its job is to protect the banks. It would not hesitate to impose a haircut on depositors of a minor deposit taking institution like Heartland to teach people a lesson.

    The systemic risk of a major bank imposing a cram down on depositors would make the Reserve Bank hesitate and make politicians eager to fix it.

    Boop boop de do
    Marilyn

    PS. Mid Canterbury where Heartland does its major deposit taking business is so staunchly National they could put up a cockies dog as a candidate and it would still get elected. Thus there is no political risk to either of the main parties from cutting Mid Canterbury depositors adrift.
    I thought that OBR was for the too-big-to-fail banks but you may be right that it could be used with a smaller bank like HBL. I assumed that because HBL wouldn’t have got a taxpayer bailout and would have been left to fail under the old rules that it wouldn’t fit into the OBR rules. Hopefully we will never know what the intentions are with OBR.

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