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  1. #2031
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    Ditto, many many thanks Beagle for sharing your insights & analysis with us, always hugely appreciated.

  2. #2032
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    Quote Originally Posted by Lewylewylewy View Post
    I visited a rym village this weekend. Helluva lot nicer than the $#%^^y town around it. No noisy parties or dodgy characters (except me) hanging around.

    ... I'd be ok with living near a retirement village, personally.
    I would agree with you if the development were low density with just single or two storey units. I can understand objections when there are multi-storey blocks involved. For most kiwis their home is their biggest investment by far. Nimbyism is often self preservation in the face of inadequate compensation.

  3. #2033
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    Just read your excellent post thank you Beagle. Makes me feel even better about having an order filled this morning - now my largest NZ holding. (In Oz JIN just keeps on the up and up^^)

  4. #2034
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    You're most welcome folks and too kind. Just want to add that based on discussions with people in the industry and based on my first impressions meeting the CEO Earl Gasparich recently at the New Zealand shareholders association investor briefing I have a very positive view of his leadership abilities. He presented very well and clearly articulated their strategy going forward. One of the secrets of a really good leader is their ability to bring out the best in their staff and I think he has this "special sauce" if you like. He's young enough to have heaps of energy and old enough to have plenty of experience, looks fit and isn't carrying any extra weight.

    I think it was Whome who commented to me after the meeting that he looks like a man at the top of his game which is a fair assessment of how I see it too.
    Good leaders take the time to sit down with their employees and garner feedback from the coalface. Earl does this just like Simon Challis used too. He's not greedy either, base salary just $480K per annual report plus bonus's. Very few people making over $200K in the company, (only 7 from memory including the CEO...isn't this an absolute breath of fresh air compared to a lot of the troughing that we see in other companies ?) Speaking of things refreshing...Its very refreshing to see board members buying up absolutely heaps of shares in the recent placement.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #2035
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    Quote Originally Posted by macduffy View Post
    That's certainly the case with Summerset's Boulcott development. Best hope now is for a much delayed reduced development to meet neighbours' concerns.
    I think to an extent this is the consequence of so much NZ household wealth being invested in owner occupied housing. The plus side for the retirement village companies is that high values for residential land has boosted the retirement companies valuations.

    However most NZ households have a very undiversified investment portfolio. Much household wealth is invested in the one home. This could be a problem with developments in suburbs. Homeowners will object strongly to developments that they will see as changing and undermining the desirability of their area and home. Dense developments with blocks of apartments may spoil outlook and the nature of a locale.

  6. #2036
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    Just to add to the observations re leadership & staff, yesterday rang OCA to make a general enquiry on behalf of some friends who need a bit of support after one of them had a stroke. They're ok but are struggling to cope with a large old house & property, & will need to move to an assisted living arrangement & don't seem to know where to start.
    I was incredibly impressed with the OCA woman I spoke to, who was not only genuinely kind & empathetic, but also super helpful & knowledgable about all the options OCA offer, the diff properties etc & the detail around processes implications, govt subsidies, income levels etc. She also & this may seem a minor thing, but it's not when talking to older people whose neurons/synapses may not be firing as quickly as they once did, gently matched her pace to mine & after half an hour was still just as interested & engaged as when we started the conversation. At a point when people are feeling v vulnerable & the options can be confusing, I thought she would be so reassuring & helpful, a bit of a lifeboat really & a great asset for the company. Anyway just thought worthy of mention as staff so important, that first point of contact creates such a lasting impression & as we know if people are made to feel connected with & genuinely interested in, they're less inclined to bother enquiring elsewhere & more likely to recommend to other friends in similar circumstances.

    A point of interest re the min age of 70, in the case of a couple, both have to be 70 or over. If they accepted a 70 year old with 65 year old partner & the 70 year old died, they would have to request the 65 year old leave & they would never put themselves in that position. There is some talk of one of the co's raising their min age up to 75 ( not OCA though)

    I added a few more OCA to my holding last week as see this as an excellent well managed co in a very strong sector, still good value, & such a solid long term bet.
    Projecting forward a few years, hopefully watching the America's Cup in 2021 & looking back, will I regret buying more of those OCA @ 122 back in 2018? .....It's certainly possible but without being arrogant, probably not!

  7. #2037
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    Quote Originally Posted by Blue Skies View Post
    Just to add to the observations re leadership & staff, yesterday rang OCA to make a general enquiry on behalf of some friends who need a bit of support after one of them had a stroke. They're ok but are struggling to cope with a large old house & property, & will need to move to an assisted living arrangement & don't seem to know where to start.
    I was incredibly impressed with the OCA woman I spoke to, who was not only genuinely kind & empathetic, but also super helpful & knowledgable about all the options OCA offer, the diff properties etc & the detail around processes implications, govt subsidies, income levels etc. She also & this may seem a minor thing, but it's not when talking to older people whose neurons/synapses may not be firing as quickly as they once did, gently matched her pace to mine & after half an hour was still just as interested & engaged as when we started the conversation. At a point when people are feeling v vulnerable & the options can be confusing, I thought she would be so reassuring & helpful, a bit of a lifeboat really & a great asset for the company. Anyway just thought worthy of mention as staff so important, that first point of contact creates such a lasting impression & as we know if people are made to feel connected with & genuinely interested in, they're less inclined to bother enquiring elsewhere & more likely to recommend to other friends in similar circumstances.

    A point of interest re the min age of 70, in the case of a couple, both have to be 70 or over. If they accepted a 70 year old with 65 year old partner & the 70 year old died, they would have to request the 65 year old leave & they would never put themselves in that position. There is some talk of one of the co's raising their min age up to 75 ( not OCA though)

    I added a few more OCA to my holding last week as see this as an excellent well managed co in a very strong sector, still good value, & such a solid long term bet.
    Projecting forward a few years, hopefully watching the America's Cup in 2021 & looking back, will I regret buying more of those OCA @ 122 back in 2018? .....It's certainly possible but without being arrogant, probably not!
    It is always our worst fear to put a loved one into care. Am I making the correct decision scenario. Empathy is something you either have or don’t have, it can be taught but it may take a lifetime to understand. That is why some people choose to become Doctors, Nurses, or Caregivers (not taking away from those that work behind the scenes). Great work by OCA staff to guide you through all the processes and give advice while keeping the conversation away from just business.

    Thanks for your feedback. I am a happy shareholder when I hear these stories.

  8. #2038
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    Default Whats goin on ??

    Over 3 million shares sold/purchased already today ???? 3x bigger (numbers of shares) than anything else on market !!!
    I am quite at a loss to understand?

  9. #2039
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    Quote Originally Posted by warren View Post
    Over 3 million shares sold/purchased already today ???? 3x bigger (numbers of shares) than anything else on market !!!
    I am quite at a loss to understand?
    A little bird tells me a private investor is buying a sizable stake, don't ask me for any more info because Mum's the Word.

  10. #2040
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    Quote Originally Posted by couta1 View Post
    A little bird tells me a private investor is buying a sizable stake, don't ask me for any more info because Mum's the Word.
    Would it be you stocking up an XOOOOOS position Couta?!

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