HGH - Heartland Group Holdings

[winner (n)]

Remember what they said at GE when the master of profit smoothing left ....'he left us a hollowed out pile of shit'

What surprises me is that one of Jeff's loyal lieutenants and smoothing partner became CEO

That was at the turn of the century and GE never recovered

[Greekwatchdog]

My average is now $0.82. Most expensive Purchase was $0.95. I see real value in it for a 5 year hold.

We all have our Philosophies. I remember when one poster started talking it up @ $1.15 only to get grumpy when full year was awful. The half year was and expecting the current full year to be same. I am ok with that.

Time will tell if I have done well or not but at these values its pretty good buying. Mind you another poor announcement before FY will make me a goose. Thats the way it is.

Correction, my first buy was $1.06 just before 2024 FY. Sorry for miss leading. Avg is still the same..

[Basil]

For about the 15th time GWD, the recession was far deeper and longer than almost anyone around this time last year thought it would be.

I belive also that HGH management have been deliberately deceptive or grossly incompetent with their delinquent receiveables provisioning and loan loss recognition.

As someone else just said, I wouldn't trust them an inch.

[Greekwatchdog]

For about the 15th time GWD, the recession was far deeper and longer than almost anyone around this time last year thought it would be.

I belive also that HGH management have been deliberately deceptive or grossly incompetent with their delinquent receiveables provisioning and loan loss recognition.

As someone else just said, I wouldn't trust them an inch.

We have heard that for the xxx amount time too Basil. It is what it is. Now we just sight idle until we get some sort of annoucement. In the meantime there are green shoots showing in the economy and of course the Aust business seems to be tracking ok

[Shareguy]

Hi all,

Happy new year. Well I did get a reply which unfortunately was not happy with. Also with Basil's concerns top of mind I decided to bail.

Disc/ I'm out.

Well I am so glad that I emailed my questions and concerns. Also even happier that the answers did not satisfy me at all. And most importantly I'm so glad I sold out in Jan which was an excellent decision in this case.

Good luck to holders. I'm going to watch from the sidelines. I do agree that Australia has huge potential.

[Basil]

Well I am so glad that I emailed my questions and concerns. Also even happier that the answers did not satisfy me at all. And most importantly I'm so glad I sold out in Jan which was an excellent decision in this case.

Good luck to holders. I'm going to watch from the sidelines. I do agree that Australia has huge potential.

Good for you mate.  That's exactly why I went to the annual meeting, to ask some very hard questions and as you know, I wasn't happy with any of the answers.  I'm also very pleased I exited completely at just north of $1.

[Basil]

I'm certainly not the only one that holds a very low opinion of the board and management.  For example, Shareguy and Percy, to name just two well respected posters have also been supporters of HGH for a VERY long time but think they have well and truly lost their way.    Good luck with HGH, you'll need it.

[mike2023]

I think we can all change our minds on anything. I'm not ready to reinvest in hgh or pgw till I see a report I like. I still think the rm business is sound.

[snapiti]

yep the dog likes to wag his tail when he has been a good boy and barks a bit so probably some fox terrier in this beagle me thinks, but he is certainly no clown and many investors would have been very wise to take note of his persistent barking and superior ability to sniff BS when it comes his way, on many occasions

[Basil]

Thanks for your kind words snapiti.  You've got a fine nose for sniffing corporate B.S. yourself as if I recall correctly, you were the first to question HGH when they first downgraded due to alleged staff sickness issues affecting their arrears recovery procedures.  In hindsight you make a very good watchdog yourself, the kind of watchdog that makes himself very useful on here.

[winner (n)]

For about the 15th time GWD, the recession was far deeper and longer than almost anyone around this time last year thought it would be.

...........

Talk of deep recessions and worst recession  we have had for decades makes me smile at times.

Here's a chart showing one measure of GDP going back to the 1980's

Doesn't look too bad to me

Data ex RBNZ so must be right

You cannot view this attachment.

[BlackPeter]

Talk of deep recessions and worst recession  we have had for decades makes me smile at times.

Here's a chart showing one measure of GDP going back to the 1980's

Doesn't look too bad to me

Data ex RBNZ so must be right

You cannot view this attachment.

Wondering how the chart would look like if you draw it inflation-adjusted and as GDP per head of population?

But anyway, I am sure we all agree that the great depression 1929 to 1939 was worse.

Interesting to note that it finished the year WW2 started. This must mean something?

[winner (n)]

Wondering how the chart would look like if you draw it inflation-adjsuted and as GDP per head of population?

But anyway, I am sure we all agree that the ghreat depression 1929 to 1939 was worse.

Interesting to note that it finished the year WW2 started. This must mean something?

But we don't report Heartlands profit or Turners revenues etc on an inflation adjusted per head basis do we? Or even worse seasonally adjusted.

[KW]

https://www.heartland.co.nz/village-access-loan

Borrow the money to buy an ORA so you dont have to sell your house.  Why?  What good is holding on to a house you are no longer living in?  What 75 year old wants to become a landlord?  And then you lose 30% on the value of the ORA plus pay 10% interest each year on top of it.  That doesnt make financial sense.  

Just sell the house. 

And what ORA can you buy with only 50% of the value of a house?  We've already established that the price of RV units are now around 100% of the median price for the area, but even at 70% of the medium price a reverse mortgage won't be enough.

[BlackPeter]

https://www.heartland.co.nz/village-access-loan

Borrow the money to buy an ORA so you dont have to sell your house.  Why?  What good is holding on to a house you are no longer living in?  What 75 year old wants to become a landlord?  And then you lose 30% on the value of the ORA plus pay 10% interest each year on top of it.  That doesnt make financial sense. 

Just sell the house.

And what ORA can you buy with only 50% of the value of a house?  We've already established that the price of RV units are now around 100% of the median price for the area, but even at 70% of the medium price a reverse mortgage won't be enough.

Actually - there might be a number of good reasons.

Just some examples:

If you expect house price inflation to go back towards the medium annual price rises, then it makes a lot of sense to take a 10% loan to cover for the ORA (or parts of it) instead of selling the house at current for a price too low.

House prices would gain subject to any rises of the property market, while the ORA will not - i.e. anybody who expects annual average house prices to return to say 4 to 5 % (this is the average of the last 5 years), would win.

Might make as well lots of sense in individual cases to bridge short term cash flow issues (like waiting for an inheritance) or just to keep the family property for family to inherit. Its not for everybody just about the money.