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24-02-2018, 04:37 PM
#971
Originally Posted by macduffy
True, but in OCA's case we have several experienced directors who have proven records elsewhere, not just with "their" company.
Agreed.
Originally Posted by BobbyMorocco
Alan Isaac bought some immediately after the results came out at $1.09. Liz Coutts picked up parcels at $1.04 and $1.02 not long after.
Yes thanks for the reminder, you're quite right. Food for thought if you can hoover some up at about $1 ?
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
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24-02-2018, 05:22 PM
#972
I switched out of sum SUM for OCA on Friday. Spreading the love for the retirement sector. There's sumthing satisfying with obtaining 6 for 1 and sum change. I know it's a silly concept, so no criticism please
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24-02-2018, 05:32 PM
#973
Originally Posted by Xerof
I switched out of sum SUM for OCA on Friday. Spreading the love for the retirement sector. There's sumthing satisfying with obtaining 6 for 1 and sum change. I know it's a silly concept, so no criticism please
Big mistake.
You should of switch from RYM to OCA.................10.68 for 1...................?!.lol.
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24-02-2018, 05:41 PM
#974
yeah nah, don't own any RYM, but that was actually another reason for the switch - the couta1 ratio is out of kilter (although no doubt RYM holders will say it'll revert to mean by RYM appreciating).
There's no RYM or reason to SUM of these OCAsional relativities
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24-02-2018, 05:48 PM
#975
Originally Posted by Xerof
yeah nah, don't own any RYM, but that was actually another reason for the switch - the couta1 ratio is out of kilter (although no doubt RYM holders will say it'll revert to mean by RYM appreciating).
There's no RYM or reason to SUM of these OCAsional relativities
What a great reply....
Yes the Couta1 ratio remains the benchmark.....................lol.
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28-02-2018, 10:54 AM
#976
"A knock-on effect of the slowing property market has been an end to the "spectacular growth" in asset values at retirement village Metlifecare. The company, which has 24 villages, has posted an interim net profit of $56.4 million for the six months to December 31, down 65 per cent from $165m the year before"
The above news report is why I love my OCA ----- 3250 staff with well over 50% income flowing from HM NZ Government..Cash is king esp in tough times .I accept the tremendous profit from exceptionally attractive and well positioned apartment sales but its steady year after year growth I want and the OCA formula is attractive to me. The example above (asset values) is not, but I will say $112.8 Mil net profit is still staggering and beyond ANY businesses experience I have even thought about so well done Metlife.
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28-02-2018, 11:27 AM
#977
Originally Posted by warren
"A knock-on effect of the slowing property market has been an end to the "spectacular growth" in asset values at retirement village Metlifecare. The company, which has 24 villages, has posted an interim net profit of $56.4 million for the six months to December 31, down 65 per cent from $165m the year before"
The above news report is why I love my OCA ----- 3250 staff with well over 50% income flowing from HM NZ Government..Cash is king esp in tough times .I accept the tremendous profit from exceptionally attractive and well positioned apartment sales but its steady year after year growth I want and the OCA formula is attractive to me. The example above (asset values) is not, but I will say $112.8 Mil net profit is still staggering and beyond ANY businesses experience I have even thought about so well done Metlife.
There was a major factor in the knock to METs interim NP - accounting for remedial measures for leaky buldings.
Imo I think even in a consolidating housing market (unless prices are in severe long term correction fall) it is the churn in ORAs that will add more to profitability than any profits from long-term care contracts.
If the government does not increase its funding sufficiently (which would probably mean increasing taxes), The increase in pay relativities for carers will have to be met by "wealthy" residents. So either the "wealthy" long-term rest home or hospital residents themselves would need to pay more or there would need to be a cross-subsidy from those who enter into ORAs. Those villages that have a higher proportion of ORAs could be at an advantage.
Last edited by Bjauck; 28-02-2018 at 11:38 AM.
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28-02-2018, 11:43 AM
#978
Hello Bjauck. Ah ha I didn't know that re leaky building provision. Yes I agree 100% with you but for me, as an ethical investor, the 3250 staff, the very good care of the frail, the ill and elderly, makes me feel good. And I have never ever forgotten what Sir James Fletcher 2nd said to me "I'm delighted when my company makes 5% net earned (as against asset revaluation) because its so tough out there " .
Last edited by warren; 28-02-2018 at 11:50 AM.
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28-02-2018, 12:02 PM
#979
Originally Posted by warren
...as an ethical investor, the 3250 staff, the very good care of the frail, the ill and elderly, makes me feel good...
In an ideal society, staff should always be appropriately paid and the vulnerable should always receive the best available care. However judgment and these aspects vary according to time and place! Who should pay for it?
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28-02-2018, 12:33 PM
#980
Umm Who indeed??? Excellent thinking man's question. But a company with high managerial energy, high skill and high ethics, honed by competition will do it's business more efficiently than one without. That I do know.
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