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28-05-2011, 05:03 PM
#531
Roger would those people you talk to admit they had made a mistake they could not get out of?
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28-05-2011, 05:49 PM
#532
The people I've met there seem happy they're being looked after, they know its not a good investment but they're buying into a lifestyle of security and quality care, most couldn't give a toss about the exit fee they just want to be well cared for, have top quality facilities and live in a safe caring community of like minded people. The very comprehensive nature of the facilities, activity programmes, trips and so on appear to be what people want when they hit 78 or 79 which as I'm sure you know is the average age of entry to Ryman.
There appears to be a very good vibe at Ryman, the staff I have met are all good and they are looking after my Dad well in the new dementia ward at Evelyn Page. I'm as happy as a son can be in the circumstances.
Regards
Last edited by Beagle; 28-05-2011 at 05:53 PM.
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28-05-2011, 08:49 PM
#533
Originally Posted by Roger
The people I've met there seem happy they're being looked after, they know its not a good investment but they're buying into a lifestyle of security and quality care, most couldn't give a toss about the exit fee they just want to be well cared for, have top quality facilities and live in a safe caring community of like minded people. The very comprehensive nature of the facilities, activity programmes, trips and so on appear to be what people want when they hit 78 or 79 which as I'm sure you know is the average age of entry to Ryman.
There appears to be a very good vibe at Ryman, the staff I have met are all good and they are looking after my Dad well in the new dementia ward at Evelyn Page. I'm as happy as a son can be in the circumstances.
Regards
Roger,
I am very pleased to hear your dad is with the compassionate team at RYM. I have had a lot to do with my local Ryman Village as well, and I know how caring and compassionate the team there are. And also how ethical the leadership is, which trickles down, and how they stomp on anything super quickly that doesn't fit within their expected conduct. Ryman are playing a very important role in peoples quality of life and at a stage in life we will all have to deal with eventually.
The last time I visited a Ryman Village, the sales manager took me up to their bar (it was happy hour!), and I saw an old client of mine who is in an independent unit with his wife, and his exact words were "We feel like we are on holiday every day here..."
It's a great business from the customers perspective and from the shareholders perspective. And those two things are always mutually inclusive.
All the best to you and your dad Roger.
Regards,
Sauce
Last edited by Sauce; 28-05-2011 at 09:15 PM.
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28-05-2011, 09:18 PM
#534
Originally Posted by Roger
Thanks for bursting my bubble on the revaluations gently Sauce. You're a gentleman
Well this confused the hell out of me for ages, as you can see if you read back through the 'owner earnings' thread - just about everyone thought that was the case, so I know exactly how you came to that conclusion. They really should make it a bit clearer in my opinion.
Cheers
Sauce
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29-05-2011, 04:38 PM
#535
Originally Posted by percy
I just loved the Munger quote.Do not know what it has to do with what we are talking about, but my favourite quote at present is from Benjamin Disraeli "What we anticipate seldom occurs;what we least expected generally happens."
Came across this quote today -
Hindsight is not only clearer than perception-in-the-moment but also unfair to those who actually lived through the moment.” – Edwin S. Shneidman, Autopsy Of A Suicidal Mind
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29-05-2011, 05:26 PM
#536
Originally Posted by winner69
Came across this quote today -
Hindsight is not only clearer than perception-in-the-moment but also unfair to those who actually lived through the moment.” – Edwin S. Shneidman, Autopsy Of A Suicidal Mind
Cracker.So very true.
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29-05-2011, 09:39 PM
#537
Originally Posted by winner69
Came across this quote today -
Hindsight is not only clearer than perception-in-the-moment but also unfair to those who actually lived through the moment.” – Edwin S. Shneidman, Autopsy Of A Suicidal Mind
I was concerned as to why you might be reading "Autopsy of a Suicidal Mind"....
... until now when I opened up the latest John Mauldin newsletter!
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30-05-2011, 06:33 AM
#538
Originally Posted by Lizard
I was concerned as to why you might be reading "Autopsy of a Suicidal Mind"....
... until now when I opened up the latest John Mauldin newsletter!
and what Mauldin says about Europe and the rest of trhe world is almost suicide material eh ..... one one who is usually a glass half full man he has been pretty glum the last few weeks .... might have to give him a miss for a while and find somebody who thinks the world is in a growth cycle and deleveraging is all over and it is all blue sky from here
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30-05-2011, 09:43 AM
#539
Originally Posted by winner69
and what Mauldin says about Europe and the rest of trhe world is almost suicide material eh .....
Yes, my thoughts exactly after reading it. Am sitting here pondering... maybe we should read Roubini who supposedly has a plan? That's a turnabout - reading Roubini for something positive!!!
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30-05-2011, 10:06 AM
#540
Thanks for those kind words Sauce.
Regarding the forthcoming Australian plans I know we can count on the Ryamn team to tread carefully and minimise the risk, one development at a time and make sure each one is beeded down and operationally profitable before moving on to the next one.
I think there's a very high probability of sucess over there and whilst the market is sceptical due to a long litany of failures by other N.Z. companies expanding over there and is according Ryman no current price premium for the opportunity, (of course we all remember Air New Zealand and the Warehouse's failures to name just two), I firmly believe Ryman's quality will be well received by our Trans-Tasman neighbours.
Regarding other comments, in my opinion we are in an age of deleveraging and I'm sure that will continue for the forseeable future, (try selling coastal holiday property almost anywhere in the country its been that way since the onset of the GFC and isn't getting any better), hardly anyone is looking to expand their balance sheeet and take on lifestyle assets but Ryman is a needs based business and in many cases actually plays into the deleveraging process. Live in a big mansion $1m plus, or downsize to a quality $450K independent living townhouse at Ryman with lots of community programmes to enjoy ? There's also the undeniable attraction of your weekly fees being locked in and never increasing whilst people's superannuation is adjusted for the CPI every year, tanslating to a gradual rise in disposable income, so I'm sure the various happy hours at Ryman's facilites get a thorough work-out
Last edited by Beagle; 30-05-2011 at 10:26 AM.
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