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  1. #11861
    One Fearsome Feline winner69's Avatar
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    Quote Originally Posted by percy View Post
    Comparing a "one off" [to comply with new accounting standards] to an "ongoing" DRP is misleading.
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    “What the wise man does in the beginning, the fool does in the end”

  2. #11862
    percy
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    Quote Originally Posted by winner69 View Post
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    Agreed,however the affected shareholder equity is at HGH,not necessarily at Heartland Bank.
    Perhaps the interim report will give us more clarity as to what equity HGH are confortable with.[We know already what the bank's equity has to be].

  3. #11863
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    Default A 64 million dollar mystery

    i have been looking through Heartland's lending to industry sectors (AR2018 Note 18c) and noticed an inconsistency between the business done in the 'Finance and Insurance' Sectors in FY2017. In the FY2018 report $64.286m from the finance and insurance business has apparently been reclassified from 'Finance & Insurance' to that catch all net of 'Other'.

    HBL (FY2017) from AR2017 HBL (FY2017) from AR2018
    Agriculture Forestry & Fishing: $836.977m (21.3%) $836.977m (21.3%)
    Mining: $19.006m (0.5%) $19.006m (0.5%)
    Manufacturing: $76.445m (1.9%) $76.445m (1.9%)
    Finance & Insurance: $395.804m (10.1%) $331.518m (8.4%)
    Retail & Wholesale Trade: $188.941m (4.8%) $188.941m (4.8%)
    Households: $1,717.407m (43.7%) $1,717.407m (43.7%)
    Property & Business Services $347.776m (8.8%) $347.776m (8.8%)
    Transport & Storage: $179.016m (4.6%) $179.016m (4.6%)
    Other Services: $169.867m (4.3%) $234.153m (6.0%)
    Total $3,931.239m (100%) $3,931.239m (100%)

    I wondered if any reader could explain why $64.286m worth of finance and insurance business suddenly disappeared into another box? Heartland is a finance company after all. And if they can't decide what part of their business lending is classified as 'finance', that has to be a worry!

    SNOOPY
    Last edited by Snoopy; 26-01-2019 at 09:05 AM.
    Industry shorthand sees BNZ employees still called 'bankers' but ANZ employees now called 'anchors'. Westpac has opted out of banking industry shorthand...

  4. #11864
    Hunting for more dog food Beagle's Avatar
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    https://go.harmoney.com/rs/915-LSX-1...ekRCSWp5In0%3D
    Harmoney put out an interesting guide to buying a car - this bit struck a chord with me.
    If money was no concern, we’d all buy new cars - aside from that enticing new car smell, driving a new car means enjoying the latest in automotive technology and (in theory) years of hassle-free motoring. In reality, these advantages are probably overstated
    One new car I have bought in the last 20 years had no issues and I remember it fondly. The rest all had at least one issue and the current one...oh dear !
    It seems to me that buying a new car or shares off private equity firms in the Chinese year of the dog is likely to end you up with the buyer owning puppies.
    Chinese year of the dog ends on 4 February...maybe OCA shares and my other pup will come good shortly thereafter...
    Last edited by Beagle; 28-01-2019 at 05:54 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  5. #11865
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    Motor vehicle lending is a good sector to be in.

  6. #11866
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    http://www.sharechat.co.nz/article/9...ge-brokershtml

    NAB have been very naughty dog's. I don't see any major issues here for HGH. Fundamentally they look pretty good value at this level and I note on the US markets according to CNBC financials as a group are up 13 % year to date for 2019.
    No butts, hold no mutts, (unless they're the furry variety).

  7. #11867
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    Quote Originally Posted by Beagle View Post
    http://www.sharechat.co.nz/article/9...ge-brokershtml

    NAB have been very naughty dog's. I don't see any major issues here for HGH. Fundamentally they look pretty good value at this level and I note on the US markets according to CNBC financials as a group are up 13 % year to date for 2019.
    Share price will rocket ahead after the stunning / wow / huge half year profit announcement in a few weeks

    That’ll wake the market up.

    Hope they don’t do any tricky normalising stuff and say things like ‘if it wasn’t for this it would have been that’
    “What the wise man does in the beginning, the fool does in the end”

  8. #11868
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    Dairy prices booming ..gdt auction overnight saw whole milk powder up more than 8%. Good sign for the economy.

    Lately the long term relationship between dairy prices and Heartland share price has broken down.

    Last 5 auctions prices have been up. Whole milk powder UP 16% since November — Heartland share price DOWN nearly 10%

    Jeez that Heartland is a real dog of a stock
    Last edited by winner69; 07-02-2019 at 05:49 AM.
    “What the wise man does in the beginning, the fool does in the end”

  9. #11869
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    https://www.nzherald.co.nz/business/...ectid=12201485 Yeah mate I was going to ask you, is this correlation broken ?

    HGH looking like an old 3 legged mange and flea infested Pig dog (Financials in the US up 13% YTD) or is this an opportunity ? Every dog has its price...surely...

    Even if HGH doesn't respond as you say at least this is good for the economy so that's good.
    Last edited by Beagle; 07-02-2019 at 08:13 AM.
    No butts, hold no mutts, (unless they're the furry variety).

  10. #11870
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    Quote Originally Posted by Beagle View Post
    https://www.nzherald.co.nz/business/...ectid=12201485 Yeah mate I was going to ask you, is this correlation broken ?

    HGH looking like an old 3 legged mange and flea infested Pig dog (Financials in the US up 13% YTD) or is this an opportunity ? Every dog has its price...surely...

    Even if HGH doesn't respond as you say at least this is good for the economy so that's good.
    Correlation sort of broken short term but longer term still exists

    Some think this ‘correlation’ is stupid because Heartland not exposed to dairy. But if you think that how dairy prices are going are an indication of how the general economy is going then it sort of makes sense ...after all Jeff often reminds us that Heartland’s fortunes are tied to the economy (GDP growth)

    I make no comment about three legged mange and flea invested pig dogs....but a piss poor ‘investment’ / punt over the last year or so....still in downtrend from the highs of over 2 bucks in spite of all this being cheap as talk.
    Last edited by winner69; 07-02-2019 at 08:30 AM.
    “What the wise man does in the beginning, the fool does in the end”

  11. #11871
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    Noticed in ASB's result yesterday that provisioning for delinquent loans is up 73% to $45m for the half year. Hope that's not a sign for HGH's provisioning...
    No butts, hold no mutts, (unless they're the furry variety).

  12. #11872
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    Quote Originally Posted by Beagle View Post
    Noticed in ASB's result yesterday that provisioning for delinquent loans is up 73% to $45m for the half year. Hope that's not a sign for HGH's provisioning...
    No ...Heartland not exposed to residential lending or dodgy business lending

    But you knew that
    “What the wise man does in the beginning, the fool does in the end”

  13. #11873
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    Quote Originally Posted by winner69 View Post
    No ...Heartland not exposed to residential lending or dodgy business lending

    But you knew that
    Yeap, all that no deposit unsecured lending to Harmoney is super safe...what could possibly go wrong lol
    No butts, hold no mutts, (unless they're the furry variety).

  14. #11874
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    Quote Originally Posted by winner69 View Post
    I make no comment about three legged mange and flea invested pig dogs....but a piss poor ‘investment’ / punt over the last year or so....still in downtrend from the highs of over 2 bucks in spite of all this being cheap as talk.
    Agreed, but does this not go to the heart of 'buy and hold' versus trade? It is now at the level where I first bought in (November 2015). Over that time I watched it rise to $2.14, then start a long decline at the start of 2018. I do remember people expressing nervousness in December 2017 when it reached $2.14, and at least one regular here who I respect greatly selling out completely at this time.

    I subsequently sold out (far later than I should have, but hey I'm still new at this!), and have now started buying back in at virtually the same price I paid three years ago. Time will tell whether I have picked the bottom correctly or not I guess ...

  15. #11875
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    Yep theres traders who worry away every day micro managing and itching and biting and worrying and theres Investors who ride out the cycles and cruise through it all totally confident in the company and management, easy as..

  16. #11876
    Hunting for more dog food Beagle's Avatar
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    No butts, hold no mutts, (unless they're the furry variety).

  17. #11877
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    Thanks for posting

    All makes Heartland stronger in OZ .....and 80% of the market still available to them ....and 20,000 Aussies getting ‘old’ every month ...wow
    “What the wise man does in the beginning, the fool does in the end”

  18. #11878
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    http://www.scoop.co.nz/stories/HL190...e-bastards.htm Fair bit of talk there about how the watchdog failed to bark.
    Should have appointed a Beagle who never suffers from that problem lol
    Seriously...some of those Aussie banking practices are shocking !
    Just as well HGH not in the line of fire and with a similar PE to the Aussie banks and not liable for massive fines like them then HGH does seem to me to be at the very least, good value at present. Forward PE about 11 and gross yield assuming 9.5 cps this year (13.2 cps gross) 9.5% at present.
    I wonder why they are still languishing ?...those numbers look pretty good to me.
    Last edited by Beagle; 07-02-2019 at 12:09 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  19. #11879
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    Default A momentous announcement that will explain all....

    Quote Originally Posted by Beagle View Post
    Just as well HGH not in the line of fire and with a similar PE to the Aussie banks and not liable for massive fines like them then HGH does seem to me to be at the very least, good value at present. Forward PE about 11 and gross yield assuming 9.5 cps this year (13.2 cps gross) 9.5% at present.
    I wonder why they are still languishing ?...those numbers look pretty good to me.
    This really should have gone through the stock exchange first as the effect on the share price will be so profound. But I thought you guys on the forum deserve this heads up. The reason why the HGH share price is languishing is that as of earlier this week .... drum..roll....Snoopy has become ..."a Heartlander"!!!! Yes folks it is really true. All my concerns about the operational issues at Heartland remain. But at a price under $1.40, even if my worst fears come to pass - and Australian Reverse Equity business chokes, - then that circumstance is built into the share price already. I think the digital initiative has legs and I will look forward to following in the footsteps of Geoff and Jeff going forwards from here. So far this is only a foot in the water exercise. My plan was to buy in and wait for the share price to fall (that is what usually happens when I buy into a company for the first time) and buy a bigger stake after that -heh heh heh. But the plan has gone wrong because the share price hasn't collapsed! I think that given my circumstance you existing shareholders are lucky the share price is sticking where it is!

    SNOOPY
    Last edited by Snoopy; 08-02-2019 at 07:38 AM.
    Industry shorthand sees BNZ employees still called 'bankers' but ANZ employees now called 'anchors'. Westpac has opted out of banking industry shorthand...

  20. #11880
    percy
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    OMG.
    SELL,sell,SELL.
    "The end is nigh"....!!......lol.

    ps.Welcome.You are now "well positioned".
    pps.Interim result 19th Feb,should confirm they are delivering on their strategy..
    Last edited by percy; 08-02-2019 at 07:54 AM.

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