HGH - Heartland Group Holdings

[Greekwatchdog]

HGH always trumped their MARAC Finance as having major franchise dealers as well as only the top second hand car dealers.
Total rubbish.Vehicle financing turned out to be another mess.
Yet Turners avoided such a mess.

Its TRA's market. They better get it right, nothing else to fall back on. Like I said, HGH always been on riskier side of willing to loan. Win some lose some. Simple Math.

[Basil]

HGH have always done the riskier side of lending hence their NIM was higher. Higher the risk, higher the chance of loss. Why would you compare a Bank like HGH to TRA who are in Car market? Goodness a little desperate. I do note that when you invested last time @ $1.15 you were quite bullish on all the risks.. Hmmm

I've already stated the recession has been a lot longer than I thought it would be. Not sure what part of that requires further explanation...
A large part of Turners business is vehicle lending just like HGH. One has done well out of it, the other has failed miserably. Maybe you should spend some time trying to figure out why that is..

[Greekwatchdog]

I've already stated the recession has been a lot longer than I thought it would be. Not sure what part of that requires further explanation...
A large part of Turners business is vehicle lending just like HGH. One has done well out of it, the other has failed miserably. Maybe you should spend some time trying to figure out why that is..

Its OK Basil, when the time suits you will be back in praising it all and highlighting what great people lead the place. Its your Philosophy

[Basil]

It's quite clear I think they have systemic problems with risk management and management are blind to it so don't hold your breath.

[SCOTTY]

So far today: 6,184,599 shares traded @ VWAP $1.13586

[LaserEyeKiwi]

Entertaining as always

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[KW]

Base is forming for HGH.  I suspect reporting will be the catalyst for it either breaking out or pulling back into the base. 
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[Left Field]

Base is forming for HGH.  I suspect reporting will be the catalyst for it either breaking out or pulling back into the base. 

Rawz on the other channel wonders whether the recent buying support is preparation for yet another capital raise?





 

[Basil]

Rawz on the other channel wonders whether the recent buying support is preparation for yet another capital raise?

I doubt that but you never know for sure with this board and management. Tomlinson acknowledged after the annual meeting to me that there had been too many capital raises but who knows, they might announce a trade sale of those problematic assets at a huge discount and then raise more capital and try and pretend all their problems are behind them and there would be quite a few gullible investors who might buy that B.S.

It just seems so reckless to keep growing their $1..6 Billion dollar motor vehicle loan book with zero deposit loans when unemployment keeps tracking up  What could possibly go wrong lol

[Greekwatchdog]

It just seems so reckless to keep growing their $1..6 Billion dollar motor vehicle loan book with zero deposit loans when unemployment keeps tracking up  What could possibly go wrong lol

[/quote]
Makes me wonder with all this going on why you would trumpet it @ $1.15. Surely someone as skilled as you knew this before you bought in.

Again they have always taken riskier side of lending why the NIM was higher than the Major Banks.
The half year will be awful, it will all be about the start of the 2nd half and what the expectations are for Full Year and beyond. As you quoted many a time, "its always Darkest before Dawn"

[Basil]

I expected them to proactively manage lending risk during the worst recession since the GFC. That's what is reasonable to expect of any bank managing risk in a severe downcycle.

Their ongoing gung-ho approach clearly articulated to me at the annual meeting, after the meeting, in discussions with Leanne Lazurus and three of the directors was breathtaking to say the least. I didn't even have time for a snack or cup of tea, I was so engaged with those parties in after meeting discussions.

 I sold out completely shortly after that at break even, reinvesting the capital into Turners who are proactively managing the recession risk very successfully.

When you make a mistake, and everyone does, including you, limiting the downside damage and reinvesting profitably elsewhere as quickly as possible is the key and exactly what I did.

[Greekwatchdog]

I expected them to proactively manage lending risk during the worst recession since the GFC. That's what is reasonable to expect of any bank managing risk in a severe downcycle.

Their ongoing gung-ho approach clearly articulated to me at the annual meeting, after the meeting, in discussions with Leanne Lazurus and three of the directors was breathtaking to say the least. I didn't even have time for a snack or cup of tea, I was so engaged with those parties in after meeting discussions.

 I sold out completely shortly after that at break even, reinvesting the capital into Turners who are proactively managing the recession risk very successfully.

When you make a mistake, and everyone does, including you, limiting the downside damage and reinvesting profitably elsewhere as quickly as possible is the key and exactly what I did.

You would hope TRA do it well because all they do is sell cars, I am happy how they have managed that risk during tough times. Comforting for all holders and employees.

As for the mistakes, we learn. little advice you may want to temper expectations on how you look at stocks as you tend to do a lot of shooting when you sell and according to you that stock is a dog blah blah.

You and I have different philsophies on investing which is fine and suspect you have done well. You need to show more consideration to others philosophies as they are not aligned to yours.

And as for Greg T, who you keep taking shots at. You might want to stop. Not a good look and he is a very successful business man.

[Basil]

I call it as I see it. I think the best value forums can provide is where their is a robust debate around all the issues. 

[Greekwatchdog]

I call it as I see it. I think the best value forums can provide is where their is a robust debate around all the issues. 

OK, I guess what comes around goes around.

I see Chris Flood just sold a parcel.

[LaserEyeKiwi]

OK, I guess what comes around goes around.

I see Chris Flood just sold a parcel.

Well he left the company back in October so says something that he has only sold 20% of his holdings here and still holds ~$2m in the comapny.