Brokers

[Shareguy]

An article posted in street talk this morning says Jarden lost $13.3m in 15months to 31/3/23.

[Hectorplains]

An article posted in street talk this morning says Jarden lost $13.3m in 15months to 31/3/23.

Great band, Street Talk - just to clarify, Jarden's situation is driven by its loses in Aust.

[Breezy]

Jarden Direct soon to be no more, will become Hatch and we'll have another schemozzle of a website to get used to, can't wait.

[BlackPeter]

Jarden Direct soon to be no more, will become Hatch and we'll have another schemozzle of a website to get used to, can't wait.

Direct Broking, ANZ Securities, Direct Broking again, Jarden Securities and now Hatch ...

Actually - the first Direct Broking was quite good. I liked their webpage and they provided the information one needed. ANZ Securities was ok (they mainly changed the colours of the schema - no improvement, but no deterioration) and back to Direct Broking was still ok. But Jarden Securities? Lots of effort to change and an inferior user experience. And now Hatch? Hatch ?

Just wondering how much money they put into the continuous rebranding process - every time accompanied by new user conditions - keeping lots of otherwise quite useless lawyers and admin stuff busy - and getting every time a new team of IT gurus to further deteriorate the user experience.

The story of a once proud Direct Broking is a great example for the lousy productivity we have in New Zealand - we employ people not to improve customers life, but to continuously deteriorate the user experience without adding value for anybody ....

But what's really missing here is competition - no matter how lousy the only sort of usable broker is, the competition is still worse ...

Maybe time to move more money overseas - the broking experience in the land of the long white cloud sucks.

[Breezy]

Direct Broking, ANZ Securities, Direct Broking again, Jarden Securities and now Hatch ...

Actually - the first Direct Broking was quite good. I liked their webpage and they provided the information one needed. ANZ Securities was ok (they mainly changed the colours of the schema - no improvement, but no deterioration) and back to Direct Broking was still ok. But Jarden Securities? Lots of effort to change and an inferior user experience. And now Hatch? Hatch ?

Just wondering how much money they put into the continuous rebranding process - every time accompanied by new user conditions - keeping lots of otherwise quite useless lawyers and admin stuff busy - and getting every time a new team of IT gurus to further deteriorate the user experience.

The story of a once proud Direct Broking is a great example for the lousy productivity we have in New Zealand - we employ people not to improve customers life, but to continuously deteriorate the user experience without adding value for anybody ....

But what's really missing here is competition - no matter how lousy the only sort of usable broker is, the competition is still worse ...

Maybe time to move more money overseas - the broking experience in the land of the long white cloud sucks.

Well I couldn't have summed it up any better if I'd tried very hard, what sort of an abomination is going to be Hatched next?

[Waltzing]

the orginal direct broking transaction formats allowed software to parse the transactions lines and marry up the order and the cash for full journal automated accounting...

after they removed it to make more money you were not able to certify which payment went where unless you matched the retail and the cash account..

There are no transaction standards in new for financial instos in NZ statute law and there should be...

yes the mess goes far deeper than just the web sites... it goes to the core of the financial system. And Helen Dervans papers for the law society does nothing to fix the problem...

[Shareguy]

Craig's thoughts on NZX

Recalibrating our conviction screen (below) is not getting any easier, particularly given the lack of catalysts due to the economic ice age the NZ economy is currently experiencing. The Reserve Bank is not signalling rate cuts to the 5.5% OCR until CY25 albeit we think economic data in August (CPI, employment, GDP) will be sufficiently weak to warrant a cut(s) before Christmas. However, bottom line is that further consensus downgrades are likely for companies reporting in August and November 24 and February 25 with "trough earnings" for this cycle now more likely to be reported in August 25, after which interest rate stimulus should start to lift broad-based economic activity.
However, we are wary of getting too bearish as we "trundle along the bottom" given the share market generally starts to price in a recovery c6 months prior to it actually happening in the underlying economy.
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