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  1. #11861
    Speedy Az winner69's Avatar
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    Quote Originally Posted by percy View Post
    Comparing a "one off" [to comply with new accounting standards] to an "ongoing" DRP is misleading.
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #11862
    percy
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    Quote Originally Posted by winner69 View Post
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    Agreed,however the affected shareholder equity is at HGH,not necessarily at Heartland Bank.
    Perhaps the interim report will give us more clarity as to what equity HGH are confortable with.[We know already what the bank's equity has to be].

  3. #11863
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    Default A 64 million dollar mystery

    i have been looking through Heartland's lending to industry sectors (AR2018 Note 18c) and noticed an inconsistency between the business done in the 'Finance and Insurance' Sectors in FY2017. In the FY2018 report $64.286m from the finance and insurance business has apparently been reclassified from 'Finance & Insurance' to that catch all net of 'Other'.

    HBL (FY2017) from AR2017 HBL (FY2017) from AR2018
    Agriculture Forestry & Fishing: $836.977m (21.3%) $836.977m (21.3%)
    Mining: $19.006m (0.5%) $19.006m (0.5%)
    Manufacturing: $76.445m (1.9%) $76.445m (1.9%)
    Finance & Insurance: $395.804m (10.1%) $331.518m (8.4%)
    Retail & Wholesale Trade: $188.941m (4.8%) $188.941m (4.8%)
    Households: $1,717.407m (43.7%) $1,717.407m (43.7%)
    Property & Business Services $347.776m (8.8%) $347.776m (8.8%)
    Transport & Storage: $179.016m (4.6%) $179.016m (4.6%)
    Other Services: $169.867m (4.3%) $234.153m (6.0%)
    Total $3,931.239m (100%) $3,931.239m (100%)

    I wondered if any reader could explain why $64.286m worth of finance and insurance business suddenly disappeared into another box? Heartland is a finance company after all. And if they can't decide what part of their business lending is classified as 'finance', that has to be a worry!

    SNOOPY
    Last edited by Snoopy; 26-01-2019 at 09:05 AM.
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  4. #11864
    ShareTrader Legend Beagle's Avatar
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    https://go.harmoney.com/rs/915-LSX-1...ekRCSWp5In0%3D
    Harmoney put out an interesting guide to buying a car - this bit struck a chord with me.
    If money was no concern, we’d all buy new cars - aside from that enticing new car smell, driving a new car means enjoying the latest in automotive technology and (in theory) years of hassle-free motoring. In reality, these advantages are probably overstated
    One new car I have bought in the last 20 years had no issues and I remember it fondly. The rest all had at least one issue and the current one...oh dear !
    It seems to me that buying a new car or shares off private equity firms in the Chinese year of the dog is likely to end you up with the buyer owning puppies.
    Chinese year of the dog ends on 4 February...maybe OCA shares and my other pup will come good shortly thereafter...
    Last edited by Beagle; 28-01-2019 at 05:54 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

  5. #11865
    percy
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    Motor vehicle lending is a good sector to be in.

  6. #11866
    ShareTrader Legend Beagle's Avatar
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    http://www.sharechat.co.nz/article/9...ge-brokershtml

    NAB have been very naughty dog's. I don't see any major issues here for HGH. Fundamentally they look pretty good value at this level and I note on the US markets according to CNBC financials as a group are up 13 % year to date for 2019.
    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

  7. #11867
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    http://www.sharechat.co.nz/article/9...ge-brokershtml

    NAB have been very naughty dog's. I don't see any major issues here for HGH. Fundamentally they look pretty good value at this level and I note on the US markets according to CNBC financials as a group are up 13 % year to date for 2019.
    Share price will rocket ahead after the stunning / wow / huge half year profit announcement in a few weeks

    That’ll wake the market up.

    Hope they don’t do any tricky normalising stuff and say things like ‘if it wasn’t for this it would have been that’
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #11868
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    Dairy prices booming ..gdt auction overnight saw whole milk powder up more than 8%. Good sign for the economy.

    Lately the long term relationship between dairy prices and Heartland share price has broken down.

    Last 5 auctions prices have been up. Whole milk powder UP 16% since November — Heartland share price DOWN nearly 10%

    Jeez that Heartland is a real dog of a stock
    Last edited by winner69; 07-02-2019 at 05:49 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #11869
    ShareTrader Legend Beagle's Avatar
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    https://www.nzherald.co.nz/business/...ectid=12201485 Yeah mate I was going to ask you, is this correlation broken ?

    HGH looking like an old 3 legged mange and flea infested Pig dog (Financials in the US up 13% YTD) or is this an opportunity ? Every dog has its price...surely...

    Even if HGH doesn't respond as you say at least this is good for the economy so that's good.
    Last edited by Beagle; 07-02-2019 at 08:13 AM.
    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

  10. #11870
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    https://www.nzherald.co.nz/business/...ectid=12201485 Yeah mate I was going to ask you, is this correlation broken ?

    HGH looking like an old 3 legged mange and flea infested Pig dog (Financials in the US up 13% YTD) or is this an opportunity ? Every dog has its price...surely...

    Even if HGH doesn't respond as you say at least this is good for the economy so that's good.
    Correlation sort of broken short term but longer term still exists

    Some think this ‘correlation’ is stupid because Heartland not exposed to dairy. But if you think that how dairy prices are going are an indication of how the general economy is going then it sort of makes sense ...after all Jeff often reminds us that Heartland’s fortunes are tied to the economy (GDP growth)

    I make no comment about three legged mange and flea invested pig dogs....but a piss poor ‘investment’ / punt over the last year or so....still in downtrend from the highs of over 2 bucks in spite of all this being cheap as talk.
    Last edited by winner69; 07-02-2019 at 08:30 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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