HGH - Heartland Group Holdings

[Cool Bear]

Ok I am rather more aggressive in my aproach HNZ 48.93% DIL 43.97 SNK 7.11% and gives me the overall % returns I want.
Lots will disagree.

So, there is someone with a higher percentage than my 45%. Had been trying to drop it to below 30% but with the last few days moving a bit to cash (yes, even with HNZ), HNZ is now close to 45% again. But I still sleep well!

[kizame]

So, there is someone with a higher percentage than my 45%. Had been trying to drop it to below 30% but with the last few days moving a bit to cash (yes, even with HNZ), HNZ is now close to 45% again. But I still sleep well!

yep my big disappointment was selling RYM way back,otherwise am very happy with the way things have gone.

[Snow Leopard]

When I try to work out the interplay between PGW and Heartland over MARAC's property portfolio my brain starts to hurt.

This commentator does not seem to be impressed;

http://www.interest.co.nz/property/6...property-flesh

Boop boop de do

Marilyn

I realise that Mr Vaughan needs to earn his keep but

"Buried deep in a May 28 statement entitled 'Heartland Bank Releases Third Quarter Disclosure Statement' was this sentence; "If the outcome of that (non-core property) review is to change strategy, this may impact currently anticipated full year financial results."

indicates that reading beyond page 1 of anything is a struggle for the poor man.

The useful thing he does imply is that even after all this, a risk of further write-downs beyond the $18m does remain.

However I would suggest that HNZ is being prudent with an up-front write-down and we will just have to see what further amendments, positive or negative, need to be made.

Best Wishes
Paper Tiger

PS I notice Bernard Hickey has commented "nice piece Gareth", I disagree.

[Lizard]

I realise that Mr Vaughan needs to earn his keep but

"Buried deep in a May 28 statement entitled 'Heartland Bank Releases Third Quarter Disclosure Statement' was this sentence; "If the outcome of that (non-core property) review is to change strategy, this may impact currently anticipated full year financial results."

indicates that reading beyond page 1 of anything is a struggle for the poor man.

I had the same reaction. Although I tend to share his suspicions of companies that aren't straight-up, I didn't find the HNZ announcements that obtuse at all. They seemed quite consistent to me.

The only query I had was why PGC still got the whole $11m fee for achieving the destruction of more than $30m value in a shorter time period than initially anticipated ()..., but can see how it is probably cheaper in the long run to pay the fee and take control back.

[Balance]

I had the same reaction. Although I tend to share his suspicions of companies that aren't straight-up, I didn't find the HNZ announcements that obtuse at all. They seemed quite consistent to me.

The only query I had was why PGC still got the whole $11m fee for achieving the destruction of more than $30m value in a shorter time period than initially anticipated ()..., but can see how it is probably cheaper in the long run to pay the fee and take control back.

The stench of Shyster Kerr and his sucking sidekick, Not so Bright, is lifting finally at last well and truly from this company.

Worth double whatever it costs to get rid of the decaying rotten fish smell.

[percy]

perhaps I might be permitted to point out that your HNZ going from 15 to 25 per cent excludes the other 85 percent from making any advances or could be achieved by losses in the other 85 per cent and HNZ going nowhere-
Majorbarejet

Still laughing at your comment.
My concern is that you could be right.!!!! lol.

[winner69]

The commentator seemed to have a rather churlish 'chip on his shoulder' approach. I can't really see what he is complaining about.
HNZ clearly said earlier that if there was a change to how they handled non core assets, it may affect short term profits. There was, and it has l! can't see a problem with that.

Good question that commentator asks though "what actually are those $130 million of assets" and what do those terms / descriptions of the different classes of assets actually mean - esp the term "extend"

All seems a bit mysterious .....and not very transparent

And don't tell to ask jeff direct .....he doesn't communicate with the likes or me ....and if does refer any queries to his offsiders they don't respond either - not even with the corporate line - 'No comment'

Hard to do your homework when they lock themselves away in an ivory tower

[winner69]

winner - are you seriously telling me that you didn't get a fulsome answer from management? They were nothing but helpful towards me.

Five requests (email) ignored and phone message not responded to

appreciate everybody is busy as sorting out the world but not even a stock standard reply

[winner69]

Sparks - I think I just need to face up to it .... I just don't have the charisma you have or that all engaging charm

Might see if I ask about giving them any money if they are responsive .... like a customer that is .... hope management attitude don't go down to the troops

Good question .... does the top guy even know what a customer looks like

[percy]

Five requests (email) ignored and phone message not responded to

appreciate everybody is busy as sorting out the world but not even a stock standard reply

He must think you are Snoopy.!!! lol.
I have found the chairman Bruce Irvine does return calls, and is very easy to talk to.
Craig Stephen I have found good to talk to.I learnt a great deal talking to him after the presentation he gave.His presentation was excellent.
I have not spoken with Jeff Greenslade.