HGH - Heartland Group Holdings

[SCOTTY]

Not all questions/comments were stupid Scotty

That shareholder near the end who stated his dismay at the composition of the Board was very insightful. After all the talk of niche and disruptive things he is right - a Board made up mainly of old fuddy duddies is a worry. Where were the younger (more switched on?) members and he correctly pointed out the woeful gender breakdown of the Board.

Sad thing was no response from Chairman, except rolling his eyes and probably thinking who let that person into the room.

Obviously not on Heartlands agenda to address such issues ...and that's maybe inhibiting them in doing even better.

Yes. Have to agree with you there.

[Bobdn]

Not all questions/comments were stupid Scotty

That shareholder near the end who stated his dismay at the composition of the Board was very insightful. After all the talk of niche and disruptive things he is right - a Board made up mainly of old fuddy duddies is a worry. Where were the younger (more switched on?) members and he correctly pointed out the woeful gender breakdown of the Board.

Sad thing was no response from Chairman, except rolling his eyes and probably thinking who let that person into the room.

Obviously not on Heartlands agenda to address such issues ...and that's maybe inhibiting them in doing even better.

Gee, I value experience on my boards and quite happy to see old "fuddy duddies" as you call them. We all need to be mindful of ageism just as much as the other "isms" even if it doesn't happen to be the cause de jour for all the "cool kids".

[winner69]

http://www.nzherald.co.nz/business/n...ectid=11559906

I would hazard a guess that a very large chunk of the $162 lent has been funded by the reported large funders (inc Heartland).

Heartland using Harmoney as just another shop front - probably on much different terms than those true in the spirit of the game p2p lenders.

Some of the stories about the borrowers on Harmoney thread send shivers up your spie. Cynically one gets the feeling that the big funders get first dibs of the loans?

Whatever articles like the one linked not good publicity for Harmoney.

[winner69]

Gee, I value experience on my boards and quite happy to see old "fuddy duddies" as you call them. We all need to be mindful of ageism just as much as the other "isms" even if it doesn't happen to be the cause de jour for all the "cool kids".

I think the shareholder said 'aged grey haired men'. I aplogogise for using 'old fuddy duddies'

On a positive note I see that the new Chief Strategy Advisor is one Laura Byrne whose CV seems to read well.

A bit more gender balance in the Management Team at least (3 out of 11 is a start)

[iceman]

ColmarBrunton recently surveyed 1500 baby boomers with regard to preparedness for retirement. One interesting point from the results was that 42% said they planned to rely on equity from their property to get the through retirement. Now that is a big potential market for reverse mortgages !

[beetills]

Anyone on here think that GFL could be a target for Heartland or am i thinking to far out of the box.

[Bjauck]

ColmarBrunton recently surveyed 1500 baby boomers with regard to preparedness for retirement. One interesting point from the results was that 42% said they planned to rely on equity from their property to get the through retirement. Now that is a big potential market for reverse mortgages !

NZers are really dependent on their real estate for their store of wealth. Unlike in the US or UK (for example) the government has not encouraged diversification into financial investments by creating a tax concessionary non-pension investment scheme. Even Kiwisaver investments are taxed. Those with larger incomes have no tax-concessionary encouragement to contribute more than the minimum to get the $521 credit.

So, as an alternative to earning taxable income from financial investments bought with after-tax income, people buy an expensive house that they can only just afford, from which they derive non-taxable accommodation value and non-taxable capital appreciation. Then when retired, they become income poor but (real estate) wealthy so they are more likely to feel pressure to downsize or move into a retirement village or turn to Home Equity Release.

[artemis]

ColmarBrunton recently surveyed 1500 baby boomers with regard to preparedness for retirement. One interesting point from the results was that 42% said they planned to rely on equity from their property to get the through retirement. Now that is a big potential market for reverse mortgages !

I wonder how many of those surveyed had decent financial nous.And how many are looking at the number of zeros on their rating valuations and dreaming.

The main target market for reverse mortgages, IMO, is the household with no offspring. If there are offspring, then they will surely want to protect their property inheritance. Especially if they are reasonably well off or financially literate. There are other options.

[Bjauck]

I wonder how many of those surveyed had decent financial nous.And how many are looking at the number of zeros on their rating valuations and dreaming.

The main target market for reverse mortgages, IMO, is the household with no offspring. If there are offspring, then they will surely want to protect their property inheritance. Especially if they are reasonably well off or financially literate. There are other options.

In addition to the lack of concessionary financial investment schemes, the tax system encourages people to put their money and wealth into owner-occupied housing. Also, childless or not, many boomers would have seen the average return from the equity invested in (leveraged) real estate exceed that from most other investments and without such a great boom-bust cycle as with equities for example.

[winner69]

Reserve Bank still are a bit worried about dairy loans
http://www.sharechat.co.nz/article/d...4-of-loanshtml

Exposure for Heartland (even though exposure to dairy is 'low') is that dairy bad debts ccould affect profits by $4m to $28m

Factor into your thinking as you see fit.