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Housing Finance: HFCK a diamond in the rough
Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
  What's with the two 70+yr olds as directors? *BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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VituVingiSana wrote:Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
What's with the two 70+yr olds as directors? *BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger You yourself at 69 are not that young chief
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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obiero wrote:VituVingiSana wrote:Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
What's with the two 70+yr olds as directors? *BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger You yourself at 69 are not that young chief  Lakini, ninacheza na pesa zangu! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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VituVingiSana wrote:Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
What's with the two 70+yr olds as directors? Munga was recently gifted with Kshs. 50,000,000.00 to retire from memba. Nyonya kunyonya.*BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Pesa Nane wrote:VituVingiSana wrote:Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
What's with the two 70+yr olds as directors? Munga was recently gifted with Kshs. 50,000,000.00 to retire from memba. Nyonya kunyonya.*BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger Yawa pesa 8, the mzee worked hard for member. 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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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:Pesa Nane wrote:cyruskulei wrote:
Anyone who attended the AGM on 26-04-2019? please update the rest of us who are interested in this diamond
What's with the two 70+yr olds as directors? Munga was recently gifted with Kshs. 50,000,000.00 to retire from memba. Nyonya kunyonya.*BTW, I get the irony given I am a fan of 80+ Warren Buffett and 90+ Charlie Munger Yawa pesa 8, the mzee worked hard for member. Very true AND was fairly compensated throughout his term in office. Corporate Kenya is quickly learning this nonsense from politicians - we are working for Kenyans blah-blah, mara send-off package, mara we can't live as beggars while serving Wanjiku, mara we donate at matangas. See-Are-A-Pee !! Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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Massive volume noted today. Must be highest in last 3-5 years
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 7/16/2018 Posts: 23
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obiero wrote:Massive volume noted today. Must be highest in last 3-5 years Foreign activity?
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Bishofu wrote:obiero wrote:Massive volume noted today. Must be highest in last 3-5 years Foreign activity? Squaring for a rights issue Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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It’s not easy
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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Ni kubaya. I am looking at the website property24. They don't delete the old advert so you look at at page one and see that there are 100 properties available. If you sort the properties by price say low to high you will soon discover that some properties are listed about 5 times with reducing prices. The same Lavington apartments that were on sale 1 year ago at 12M are now 8.5M!!!! The pitch used to be buy now so you don't miss the ride up when prices go up. Now it looks like it is better to just hold cash and rent. This is the problem of depending on South Sudanese robber generals to gauge the market. There are only so many of them and once each of them has bought his 100 million mansion and two 15 million apartments for his girlfriends thats it!! He will not continue buying apartments and back home he will buy more guns to make sure he is not overthrown by another robber Colonel. So the supply of these moneyed Sudanese is limited. In Kenya the only people with money are the sons of Kiereinis, Kareithis, Mathenges, Kenyattas, Mois, Kuleis etc who are the ones building the apartments in the first place, they are not buyers. An 8.5 Million shilling mortgage at 13% is 100K a month for 20 years!!! People with money will just sit tight and buy these in cash when the price is right for them to make returns on rent.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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The only well priced property is the kahawa wendani one. The rest are hugely overpriced and some won't sell for years. My sense is we may get back to 2006 valuations after the uhuruto error Cash is the king now Kusadikika wrote:Ni kubaya. I am looking at the website property24. They don't delete the old advert so you look at at page one and see that there are 100 properties available. If you sort the properties by price say low to high you will soon discover that some properties are listed about 5 times with reducing prices. The same Lavington apartments that were on sale 1 year ago at 12M are now 8.5M!!!! The pitch used to be buy now so you don't miss the ride up when prices go up. Now it looks like it is better to just hold cash and rent. This is the problem of depending on South Sudanese robber generals to gauge the market. There are only so many of them and once each of them has bought his 100 million mansion and two 15 million apartments for his girlfriends thats it!! He will not continue buying apartments and back home he will buy more guns to make sure he is not overthrown by another robber Colonel. So the supply of these moneyed Sudanese is limited. In Kenya the only people with money are the sons of Kiereinis, Kareithis, Mathenges, Kenyattas, Mois, Kuleis etc who are the ones building the apartments in the first place, they are not buyers. An 8.5 Million shilling mortgage at 13% is 100K a month for 20 years!!! People with money will just sit tight and buy these in cash when the price is right for them to make returns on rent. Sehemu ndio nyumba
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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Out of curiosity i decided to check out property listings in Cape Town and must admit Kenyans we are done for. We pay too much for ugly and non-functional houses. LINKDumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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To whom it may concern 
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Loss of ksh.95mn in HY2019 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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Ericsson wrote:Loss of ksh.95mn in HY2019 Very big improvement, but that information needs a link verification. Seems too good to be true
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 8/1/2019 Posts: 86
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Ericsson wrote:Loss of ksh.95mn in HY2019 Where did you get this?
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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obiero wrote:Ericsson wrote:Loss of ksh.95mn in HY2019 Very big improvement, but that information needs a link verification. Seems too good to be true That was from the Britam half year results presentation. Tungoje official announcement by HFCK wenyewe Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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