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Housing Finance: HFCK a diamond in the rough
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iris
#1861 Posted : Monday, October 01, 2018 10:23:40 AM
Rank: Member


Joined: 9/11/2014
Posts: 228
Location: Nairobi
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?
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obiero
#1862 Posted : Monday, October 01, 2018 6:39:06 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
iris wrote:
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?

It's worth a gamble at the current price..

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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Ericsson
#1863 Posted : Tuesday, October 02, 2018 4:55:48 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,790
Location: NAIROBI
obiero wrote:
iris wrote:
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?

It's worth a gamble at the current price..


Share price at par with NBK.
They are in the same situation as KPLC too
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#1864 Posted : Thursday, October 04, 2018 9:25:31 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
Ericsson wrote:
obiero wrote:
iris wrote:
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?

It's worth a gamble at the current price..


Share price at par with NBK.
They are in the same situation as KPLC too

I will need to sight the Q3 results to make a final decision on this one.. Its too juicy at the current price, considering its dividend trend..

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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Ericsson
#1865 Posted : Thursday, October 04, 2018 9:59:15 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,790
Location: NAIROBI
obiero wrote:
Ericsson wrote:
obiero wrote:
iris wrote:
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?

It's worth a gamble at the current price..


Share price at par with NBK.
They are in the same situation as KPLC too

I will need to sight the Q3 results to make a final decision on this one.. Its too juicy at the current price, considering its dividend trend..


Will they be able to pay a dividend this year going by the half year results
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#1866 Posted : Thursday, October 04, 2018 11:50:41 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
Ericsson wrote:
obiero wrote:
Ericsson wrote:
obiero wrote:
iris wrote:
Pesa Nane wrote:
obiero wrote:
rwitre wrote:
Pesa Nane wrote:
The monkey (oops! my monkey) is still paying Applause




Bought some Housing Finance stock at Sh 20 back then chasing dividend. Applause

Forced to sell at Sh 12 to stop bleeding. Pray

Today's closing price of Sh 5.80 looks tempting. But PTSD will not let me board. Sad This one we watch from the sidelines.


@rwitre @pesanane im soo tempted with the current price


@Obiero join in. Misery loves company. And boy, we are MISERABLE in here.


Chuckling at your refreshing honesty @pesanane. @Obiero?

It's worth a gamble at the current price..


Share price at par with NBK.
They are in the same situation as KPLC too

I will need to sight the Q3 results to make a final decision on this one.. Its too juicy at the current price, considering its dividend trend..


Will they be able to pay a dividend this year going by the half year results

Q3 will reveal it all. Meanwhile the big boys have arrived as noted by today's volume

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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obiero
#1867 Posted : Monday, October 08, 2018 6:25:02 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
All background research complete.. Just waiting for the Q3 in next few weeks before I reboard this bus.. https://www.thebalance.c...-of-bad-companies-357865

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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Angelica _ann
#1868 Posted : Monday, October 08, 2018 7:59:53 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,927
[quote=obiero]All background research complete.. Just waiting for the Q3 in next few weeks before I reboard this bus.. https://www.thebalance.c...of-bad-companies-357865[/quote]

Home Africa comes mind. smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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obiero
#1869 Posted : Sunday, December 02, 2018 11:17:00 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
Angelica _ann wrote:
obiero wrote:
All background research complete.. Just waiting for the Q3 in next few weeks before I reboard this bus.. https://www.thebalance.c...of-bad-companies-357865


Home Africa comes mind. smile

I'm buying at KES 3 or less.. The corporate bond payout plus the layoff costs damaged the year but 2019 will likely rebound

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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Ericsson
#1870 Posted : Sunday, December 02, 2018 4:37:40 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,790
Location: NAIROBI
Gone and gone.
Frank Ireri finished the company
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#1871 Posted : Sunday, December 02, 2018 4:40:59 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company

I think he actually built the company. The rate cap is what has been the unraveling of HF Group

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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rwitre
#1872 Posted : Sunday, December 02, 2018 4:59:48 PM
Rank: Member


Joined: 3/8/2018
Posts: 507
Location: Nairobi
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company


The fellow is on the board of FTGH Sad
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obiero
#1873 Posted : Sunday, December 02, 2018 7:00:45 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
rwitre wrote:
Ericsson wrote:
Gone and gone.
Frank Ireri finished the company


The fellow is on the board of FTGH Sad

Currently in USA receiving specialized treatment

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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lochaz-index
#1874 Posted : Wednesday, December 05, 2018 10:41:57 AM
Rank: Veteran


Joined: 9/18/2014
Posts: 1,127
HF hurtling towards the 2002 lows...joining the leading pack composed of kplc, NMG amongst others.
Quote:
Mortgage lender HF Group’s stock has fallen to a 15-yearlow at the NSE as the slide into losses weighs down on investor sentiment.

The stock closed at Sh4.76 on Tuesday, joining the list of firms such as Mumias and Uchumi that are trading below par value at the bourse. Its par value is Sh5, with 384.6 million issued shares.

This is the lowest the stock has fallen since January 2003, with the bank’s market capitalisation now standing at Sh1.83 billion, having gone down by more than half from Sh4 billion at the beginning of the year when the share was valued at Sh10.40.
The main purpose of the stock market is to make fools of as many people as possible.
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littledove
#1875 Posted : Tuesday, March 05, 2019 8:42:31 AM
Rank: Veteran


Joined: 7/1/2014
Posts: 926
Location: sky
https://www.businessdailyafrica.com/markets/marketnews/HF-cuts-prices-of-700-houses-by-a-third/3815534-5008922-r9nr7l/index.html
The tough economy saw Kenyans shun buying houses to concentrate on funding essential items such as purchase of food, catering for transport and paying school fees leaving them with a little to spare.
The situation was worsened by introduction of interest rate caps that saw lenders freeze lending to individuals deemed risky as well as dump long-term lending.

tough times for the diamond
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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obiero
#1876 Posted : Tuesday, March 05, 2019 10:31:38 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
littledove wrote:
https://www.businessdailyafrica.com/markets/marketnews/HF-cuts-prices-of-700-houses-by-a-third/3815534-5008922-r9nr7l/index.html
The tough economy saw Kenyans shun buying houses to concentrate on funding essential items such as purchase of food, catering for transport and paying school fees leaving them with a little to spare.
The situation was worsened by introduction of interest rate caps that saw lenders freeze lending to individuals deemed risky as well as dump long-term lending.

tough times for the diamond

Very tough times. I honestly don't know if they will recover soon

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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obiero
#1877 Posted : Friday, May 03, 2019 8:36:43 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
1.57m shares traded today represents the highest volume in about 5 years

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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VituVingiSana
#1878 Posted : Friday, May 03, 2019 9:05:50 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,259
Location: Nairobi
There may be value for a mid-sized bank, looking to increase its book, buying HFCK but at a price that:

- has a discount for the "good" Loan Book (Due Diligence)
- has a discount for the collateral backing NPLs (Due Diligence)
- has an allowance for restructuring the payroll
- an allowance for re-training the staff
- an allowance to install a new/updated banking system

A sweetener to Britam (& other shareholders) may be a swap for shares rather than an outright purchase with clawbacks for any loans that are already provided for going to the "old" shareholders.

The buyer needs a clean book/bank unless there is a massive discount to the current stated BV.

I would like to see HF succeed even if as a part of another bank.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#1879 Posted : Saturday, May 04, 2019 12:19:58 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
obiero wrote:
1.57m shares traded today represents the highest volume in about 5 years


Who bought?

Foreigner or local?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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obiero
#1880 Posted : Saturday, May 04, 2019 5:57:21 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,907
Location: nairobi
murchr wrote:
obiero wrote:
1.57m shares traded today represents the highest volume in about 5 years


Who bought?

Foreigner or local?

Whichever way, it was pre planned.. An arms length transaction

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.75; MTN ABP 5.20
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