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Housing Finance: HFCK a diamond in the rough
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hisah
#101 Posted : Tuesday, September 11, 2012 3:43:33 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Mr Market has beaten this counter despite what the fundies say... As for the cartoon, the momentum is downwards and the price leakage will continue for a while. Discount galore getting even better smile

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mwekez@ji
#102 Posted : Tuesday, September 11, 2012 9:11:43 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
This is a diamond. #Diamond #Diamond #Diamond
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holycow
#103 Posted : Tuesday, September 11, 2012 11:09:18 PM
Rank: Veteran

Joined: 11/11/2006
Posts: 972
Location: Home
I guess HFCK is paying for its past "sins" It was priced more than KCB back in 2007 with a PE of 35.
Below is a link.
http://www.keepandshare.com/doc...ek-37-2007-xls-173k?da=y
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youcan'tstopusnow
#104 Posted : Wednesday, September 12, 2012 12:07:06 AM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
holycow, after looking at that spreadsheet, I am now salivating in anticipation of the time the market will have such high P.E's again. Even agriculturals had double digit P.E's...


GOD BLESS YOUR LIFE
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  | | Edit by user: Wednesday, September 12, 2012 12:08 AM | Reason: Not specified
mwekez@ji
#105 Posted : Wednesday, September 12, 2012 7:47:38 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
@holycow, today, HFCK is one great discount. Check todays spreadsheet smile

... and that index, 5560.23, is really nostalgic
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S.Mutaga III
#106 Posted : Wednesday, September 12, 2012 8:15:22 AM
Rank: Member

Joined: 3/26/2012
Posts: 830
Maybe hfck was a diamond but no longer is.I still cant fathom why it has ignored the bull market.There must be something we dont know...it has taken too long to rise...i wont touch this counter again...i guess the shares i have bought are enough coz am sure something is fishy and you guys are too blind to see.There is always a reason for everything.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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mwekez@ji
#107 Posted : Wednesday, September 12, 2012 8:33:25 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
Britak now known as Britam has been buying this stock like nothing, they now own about 21.3% of the firm compared to around 12.5% in 2010.


CBK prudentially restricts ownership of a bank to a maximum of 25% to any one person. Britak will most likely accumulate to that level. #Equity Bank currently holds 24.85% of HFCK. #Litle float being left
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S.Mutaga III
#108 Posted : Wednesday, September 12, 2012 8:51:02 AM
Rank: Member

Joined: 3/26/2012
Posts: 830
Little float of just over 50% of total shares assuming all the other investors are wanjiku and atieno,should translate to a rally...which isnt happening...britak said it was offloading some investments in the stock market...maybe its doing the opposite,it is selling,hence price remains low.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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mwekez@ji
#109 Posted : Wednesday, September 12, 2012 9:03:25 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
S.Mutaga III wrote:
Little float of just over 50% of total shares assuming all the other investors are wanjiku and atieno,should translate to a rally...which isnt happening...britak said it was offloading some investments in the stock market...maybe its doing the opposite,it is selling,hence price remains low.


@S.Mutaga, check the latest annual report and notice Britak entry into HFCK. Britak has exposure on other counters where it is reducing stake but in HFCK, its increasing.

On float, note GOK and NSSF hold 10.48% of HFCK. Also the anonymous No. 3 shareholder with 8.14% is staying put. #Work out the float now #also check daily turnover

.
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  | | Edit by user: Wednesday, September 12, 2012 9:05 AM | Reason: Not specified
mwekez@ji
#110 Posted : Wednesday, September 12, 2012 9:48:18 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
To juice it, Britak has adapted HFCK as its associate by acquiring the additional stake which it had to pay an arm and a leg to attract the large investors who know the value of HFCK #cKES.27 in 2011 #Check Britak 2011 annual report # Synergy_Synergy
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