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18-07-2018, 04:58 PM
#10981
Originally Posted by Bobdn
I got back in at 1.77 a few weeks back. I sold awhile back at 1.50 odd and used the proceeds to buy AIR at 2.19 to get that monster dividend. Still have that Air holding.
All a bit swings and round about. Worked out ok overall (at this stage
Ahhhh yesss...was a while ago but I remember that monster 35 cent dividend feed rather fondly...they say Beagles have a liking for monster glutinous feeds and they're not wrong lol...always living in hope of "nothing sweeter than a repeater"
Last edited by Beagle; 18-07-2018 at 05:00 PM.
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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18-07-2018, 05:02 PM
#10982
Whole Milk Powder up in overnight auction
Thats good
At the top of every bubble, everyone is convinced it's not yet a bubble.
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18-07-2018, 06:54 PM
#10983
Originally Posted by Beagle
Shouldn't look a gift horse in the mouth...so they say.... so I didn't, I topped up some more at $1.71.
Interesting, and thanks for sharing. I must admit, I've been watching the chart since February and wondering whether to sell while it's dropping, hoping to buy back in. Only thing is, usually when I do that it's far too late and the SP immediately rockets skywards.
I am ashamed to admit, I don't have a stop loss set for this share. Still in the green though
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19-07-2018, 02:21 AM
#10984
[QUOTE=oldtech;721813
I am ashamed to admit, I don't have a stop loss set for this share. Still in the green though [/QUOTE]
Why be ashamed ???.. Regrets you will have many... As we all do.... My HBL shares are WELL into the green.
As are more than a few others who have placed this one into the bottom drawer.
DYOR. :-)))
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19-07-2018, 02:28 PM
#10985
anyone cares to share why the sp tumble from high $2.14? Sorry, I have not been following it the last couple months.
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19-07-2018, 04:34 PM
#10986
Originally Posted by King1212
anyone cares to share why the sp tumble from high $2.14? Sorry, I have not been following it the last couple months.
The share price just got too far ahead of itself and has drifted (not really tumbled) back to a more reasonable price (more reasonable valuation multiples)
There was a suggestion hbl got caught up in the relating down of Oz banks ..maybe so but most Oz banks have recovered a bit but hbl not followed suit
Nothing to do with hbl performance ...that’s still going gangbusters
At the top of every bubble, everyone is convinced it's not yet a bubble.
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19-07-2018, 08:50 PM
#10987
Originally Posted by winner69
The share price just got too far ahead of itself and has drifted (not really tumbled) back to a more reasonable price (more reasonable valuation multiples)
There was a suggestion hbl got caught up in the relating down of Oz banks ..maybe so but most Oz banks have recovered a bit but hbl not followed suit
Nothing to do with hbl performance ...that’s still going gangbusters
I do wonder if it's the udc uncertainty.....if heartland does a deal there will be a cash raising and if floated people will want to swap some of heartland to udc...outcome can't be far away
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20-07-2018, 06:17 AM
#10988
Originally Posted by ziggy415
I do wonder if it's the udc uncertainty.....if heartland does a deal there will be a cash raising and if floated people will want to swap some of heartland to udc...outcome can't be far away
2nd thoughts maybe turners will be affected more than heartland if udc floats....same sort of area maybe...and turners seem to be doing ok
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20-07-2018, 09:22 AM
#10989
Originally Posted by winner69
The share price just got too far ahead of itself and has drifted (not really tumbled) back to a more reasonable price (more reasonable valuation multiples)
There was a suggestion hbl got caught up in the relating down of Oz banks ..maybe so but most Oz banks have recovered a bit but hbl not followed suit
Nothing to do with hbl performance ...that’s still going gangbusters
Thanks winner!! what do u think is the reasonable price??
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26-07-2018, 05:16 PM
#10990
BC1/ Tier 1 and Tier 2 Lending Ratios FY2017
Originally Posted by Snoopy
The promised capital note issue never happened. So once again this calculation is straightforward with all 'Tier 1 and Tier 2 capital' being shareholder equity.
Total Heartland Equity at balance date was $498.341m,
Total Heartland liabilities at balance date were $3,048.840m
So: Equity / Total Liabilities
= $498.341m / $3,048.840m = 16.3% < 17% (*)
Result: FAIL TEST
Note that I have changed my equity target for Heartland to the 17% equity (down from my 20% target) that Heartland had when Governor Wheeler originally approved Heartland as a bank. I had previously used 20% as the figure appropriate for a more marginal finance company without a strong history. Even so, Heartland has did not have the amount of equity on the books to support a loan book of the current size in my judgement. However the December 2016 equity raising has no doubt addressed this issue for now.
The historical picture of this ratio is tabulated below.
|
FY2012 |
FY2013 |
FY2014 |
FY2015 |
FY2016 |
Target |
Total Tier Capital/ Loan Book |
19.3% |
17.7% |
17.6% |
16.6% |
16.4% |
>17% |
In April 2017, Heartland had a subordinated capital note issue of $A20m. Approximately 72% of the face value of the Notes will be recognised as Tier 2 Capital by our banking regulators. So we must add the 'Tier 1 capital' (being shareholder equity) to 72% of the 'Tier 2 capital' to obtain the total recognised 'tier' capital for liquidity purposes
Total Heartland Equity at balance date was |
$569.595m |
, PLUS |
Tier 2 capital as apportioned |
$14.975m |
EQUALS |
Total Tier Capital |
$584.570m |
Total Heartland liabilities at balance date were $3,465.076m
So: Equity / Total Liabilities
= $584.570m / $3,465.076m = 16.9% < 17% (*)
Result: PASS TEST
I have been a little generous in 'passing' Heartland here, because I am not convinced that using 'only' 72% of the Tier 2 capital is justified (if 100% of Tier 2 capital was used the 17% pass figure would be achieved). I have also included 'intangible assets' as equity. This is because a financial institution is 'punished' for spending on having up to date computer software (software is an intangible asset), when I see up to date software as a really good idea in keeping track of troublesome loans. Nevertheless, whether you agree with my reasoning or not, no one can dispute that Heartland was in a better loan security position at EOFY2017, than at the end of the previous two financial years.
{Note that I have changed my equity target for Heartland to the 17% equity (down from my 20% target) that Heartland had when Governor Wheeler originally approved Heartland as a bank. I had previously used 20% as the figure appropriate for a more marginal finance company without a strong history.}
The historical picture of this ratio is tabulated below.
|
FY2012 |
FY2013 |
FY2014 |
FY2015 |
FY2016 |
FY2017 |
Target |
Total Tier Capital/ Loan Book |
19.3% |
17.7% |
17.6% |
16.6% |
16.4% |
16.9% |
>17% |
SNOOPY
Last edited by Snoopy; 16-10-2018 at 10:10 AM.
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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