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29-08-2023, 10:24 AM
#16701
Originally Posted by winner69
Rawz ….Book Value is $1.45 ……up a bit from $1.36 last year
New capital was $201m and Retained Earnings etc increased by $21m
Priced about right. If I held I would take the DRP
Half year will be interesting
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29-08-2023, 11:08 AM
#16702
Originally Posted by winner69
Not alarm bells yet rawz
But my confidence / admiration / faith in Jeff is waning
But he did say they going to double profits in next 5 years
So 110m to 220m …. Suppose getting to say 120m in 2024 is a small step on the way …but will have to do a lot better than for the following 4 years
Yeah, I noticed this "doubling of the profits in 5 years" as well - Jeff clearly seems to be much more optimistic than the usual analysts. Jeesh - this would be a CAGR of 15%!
Just to compare:
HGH's backwards earnings CAGR (10 years) is 8.3%. Hmm - is he really going to double that?
Analysts predicted a forward earnings CAGR (3 years) of 4.7% - they better go back to their drawing boards, can't have analysts being less optimistic than Jeff, can we?
But then - I noticed he was talking just about an "ambition" to double the earnings (not a forecast), wasn't he? and even better - wasn't this doubling meant for the underlying earnings?
Looks like Jeff has left himself plenty of escape routes to keep satisfying his ambition ...
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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29-08-2023, 11:22 AM
#16703
Originally Posted by BlackPeter
Yeah, I noticed this "doubling of the profits in 5 years" as well - Jeff clearly seems to be much more optimistic than the usual analysts. Jeesh - this would be a CAGR of 15%!
Just to compare:
HGH's backwards earnings CAGR (10 years) is 8.3%. Hmm - is he really going to double that?
Analysts predicted a forward earnings CAGR (3 years) of 4.7% - they better go back to their drawing boards, can't have analysts being less optimistic than Jeff, can we?
But then - I noticed he was talking just about an "ambition" to double the earnings (not a forecast), wasn't he? and even better - wasn't this doubling meant for the underlying earnings?
Looks like Jeff has left himself plenty of escape routes to keep satisfying his ambition ...
I well remember when HGH's ROE was 3% and Jeff stated he wanted to triple it .
Sounded like pie in the sky at the time.
Well he delivered.
Has a history of doing what he said he would do.
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30-08-2023, 07:48 AM
#16704
Shame the media don’t understand underlying / normalisation / jigggery pokery …unlike punters
Heartland profit stalls as margins shrink, lending slows
https://www.rnz.co.nz/news/business/...30+August+2023
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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30-08-2023, 08:11 AM
#16705
Originally Posted by winner69
"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.
Going for the tittle 'Least hated bank" maybe?
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30-08-2023, 08:20 AM
#16706
Originally Posted by mike2020
"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.
Going for the tittle 'Least hated bank" maybe?
I note they were a lender to the now defunct Wishbone. ….some outfits need more than just support from their banks eh
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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30-08-2023, 08:29 AM
#16707
Originally Posted by winner69
It’s a difference from the media indicating banks are ripping kiwis off with excessive profits
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30-08-2023, 09:54 AM
#16708
Originally Posted by mike2020
"In this environment, Heartland's asset quality has performed within expectations. Heartland has worked hard to support its customers, particularly those facing temporary difficulties due to the current economic environment," the company said in a presentation.
Going for the tittle 'Least hated bank" maybe?
Originally Posted by percy
I well remember when HGH's ROE was 3% and Jeff stated he wanted to triple it .
Sounded like pie in the sky at the time.
Well he delivered.
Has a history of doing what he said he would do.
Originally Posted by winner69
I note they were a lender to the now defunct Wishbone. ….some outfits need more than just support from their banks eh
Some of you guys are making this shareholder squirm a bit. Only Percy is sticking to the faith.
I am sure I remember my old dad telling me when I was just a pup that if you take a chicken wishbone, then dry it out, make a wish then 'break the bone' with a friend (with each of you holding one end), then whoever keeps hold of the apex of the bone when it snaps - then their wish will come true. Provided that is, you do not tell anyone what your individual wish was until after the exercise is over.
If Wishbone is now defunct, this puts a dent in that legend. Actually I did read that Saturday Post article from a couple of weeks back. It said Wishbone wasn't dead, - just 'resting' under a receivership blanket. Waiting for a white knight to give her a kiss and wake her up again. Well I still believe in dreams. And with Jeff as the fairy godfather, how can this not come true?
It is true I did jest as the milk price fell of a cliff that Jeff would be onto it, and would serve up milk shakes at the AGM, in solidarity with his sharemilker customers. But now some of you seem to be suggesting that Jeff will be serving up pork pies as well. Really? I mean this is Jeff we are talking about here. The last time I quizzed him about risk he had that broad contemplative smile and said 'everything was in harmoney' or words to that effect. My advice to shareholders is to take their own sandwiches to the AGM. Don't rely on being served a pork pie!
SNOOPY
Last edited by Snoopy; 30-08-2023 at 10:02 AM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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30-08-2023, 10:07 AM
#16709
Originally Posted by Snoopy
Some of you guys are making this shareholder squirm a bit. Only Percy is sticking to the faith.
I am sure I remember my old dad telling me when I was just a pup that if you take a chicken wishbone, then dry it out, make a wish then 'break the bone' with a friend (with each of you holding one end), then whoever keeps hold of the apex of the bone when it snaps - then their wish will come true. Provided that is, you do not tell anyone what your individual wish was until after the exercise is over.
If Wishbone is now defunct, this puts a dent in that legend. Actually I did read that Saturday Post article from a couple of weeks back. It said Wishbone wasn't dead, - just 'resting' under a receivership blanket. Waiting for a white knight to give her a kiss and wake her up again. Well I still believe in dreams. And with Jeff as the fairy godfather, how can this not come true?
It is true I did jest as the milk price fell of a cliff that Jeff would be onto it, and would serve up milk shakes at the AGM, in solidarity with his sharemilker customers. But now some of you seem to be suggesting that Jeff will be serving up pork pies as well. Really? I mean this is Jeff we are talking about here. The last time I quizzed him about risk he had that broad contemplative smile and said 'everything was in harmoney' or words to that effect. My advice to shareholders is to take their own sandwiches to the AGM. Don't rely on being served a pork pie!
SNOOPY
I don't see pork pies, I just see good press. People are tired of the banks creaming it. Heartland is working with the people.
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30-08-2023, 10:30 AM
#16710
Junior Member
Originally Posted by winner69
Interesting to contrast RNZ's article with the Business Desk's article on the same topic.
Heartland focused on securing Australian licence
Heartland Group Holdings is focused on securing its Australian licence to be an authorised deposit-taking institution as it draws tantalising close to the $100 million profitability mark.
So who sets the correct tone about Heartland and what the future for it will be?? RNZ or Business Desk? A general news media site or the specialist business media one?
By the way, isn't RNZ known to be somewhat more Left than Chairman Mao? I don't know as I never access it.
https://businessdesk.co.nz/article/f...ralian-licence
The article may be behind their paywall.
Last edited by DavidB; 30-08-2023 at 10:35 AM.
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