I'm Buying: I can't resist a Bargain

I couldn't help myself and took the plunge again today. I bought some additional shares, Auckland International Airport [AIA.NZ] and Michael Hill International [MHI.NZ].

I resolved some time back that I would put a ceiling on my share buying but decided that share prices for these two stocks were getting very attractive and know I will regret not buying when they are cheap.

I bought an additional 2000 AIA in April for $1.70 to add to my original long term holding of 1000 and was getting very excited about the stock again in May, so today's low share price was a no brainer

I picked up two small parcels and may get some more if they get cheaper. I added 2000 AIA shares @ NZ$1.51 to my current 3000 holding and picked up 7000 more MHI shares @ 63c to take my total holding of that stock to a nice round 10000.

Here are my reasons for buying MHI and AIA.

I am still in the mood to get additional Sky City Entertainment Group [SKC.NZ] but think they could get cheaper still, finishing up 5c to $2.63 today and looking at Freightways Ltd [FRE.NZ] to dip below the $2.44 mark before taking the plunge there.

I am as pleased as punch at my shiny new purchases.


Michael Hill International @ Share Investor Blog

Michael Hill: Interview with Ian Fraser
MICHAEL HILL - Toughen Up: What I've Learned About Surviving the Tough Times
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Michael Hill TV3 60 Minutes Interview
Long VS Short: Michael Hill International
Marketwatch: Michael Hill International
Michael Hill's profit shines
Michael Hill takes on the windy city
Why did you buy that stock? [Michael Hill International]
MHI has defined growth strategy
MHI profit sparkles

Discuss this Topic @ Share Investor Forum


Auckland International Airport @ Share Investor Blog

Long VS Short: Auckland International Airport
Auckland Airport needs main focus on its core business
Marketwatch - Auckland International Airport
Why did you buy that stock: Auckland International Airport
Cullen's move on Auckland Airport has far reaching effects
Cullen's move on AIA tax plan Anti-Business
AIA profit stays grounded
Softening opposition to CPPIB bid for AIA
Directors of AIA bribe brokers not to sell
What is Auckland Airport worth to you?
Second bite at AIA by CPPIB might just fly
AIA new directors must focus on shareholders
Auckland Airport merger deal nosedives
The Canadians have landed
AIA incentive scheme must fly out the window
Government market manipulation over AIA/DAE deal
DAE move on AIA: Will it fly?

Discuss this stock @ Share Investor Forum

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List of Bruce Sheppard's top NZX listed company debt worries (UPDATE 3)

This update adds Abano to the List

Further to rumblings made by Bruce Sheppard on behalf of the New Zealand Shareholder's Association in May that in his opinion, roughly 20 listed companies in New Zealand were breaching banking covenants and after writing to these companies 2 so far have replied to Bruce. He is naming names as each company replies to him.

So in total 9 companies on his hit list have been revealed thus far.

1. Fisher & Paykel Appliances [FPA.NZ]

2. Nuplex [NPX.NZ]

3. Tourism Holdings [THL.NZ] - Read THL's letter to Bruce

4. Vector Ltd [VCT.NZ] - Read VCT's letter to Bruce

5. Freightways Ltd [FRE.NZ] - Read Bruce's letter to FRE & the reply

6. Skellerup Holdings [SKL.NZ] - Read Bruce's letter to SKL & the reply

7. Comvita Ltd [CVT.NZ] - Read Bruce's letter to CVT & the reply

8. Ebos Ltd [EBO.NZ] - Read Bruce's letter to EBO & the reply

9. Abano Healthcare Group [ABA.NZ] Read Bruce's letter to ABA & the reply


I will post the rest here as and when the other 11 odd companies reply to Brucie. He has given his list of companies until July 20 to reply otherwise he will release the names anyway.

Disc I own FRE shares

Related Links

NZ Shareholders Association

Recent Share Investor Reading

• Morgan's book "After the Panic" timely
• Charlies Group: A Triumph of Style over Substance
• MICHAEL HILL - Toughen Up: What I've Learned About the Tough Times
  
• Burger Fuel doesn't rule out capital raising
• Share Investor Portfolio: June 15 2009
• Stock of the Week: Michael Hill International
• Contrarian Investor: Doris Mousdale

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Stock of the Week: Sky City Entertainment Group

This Stock of the Week is all about self interest, no not really, well maybe, nah, you be the judge.

Sky City Entertainment Group [SKC.NZ] makes up a large part of my portfolio by far but my main reason for including it this week is that the stock price has fallen below the recent capital raising price of NZ$2.61.

The share price closed at $2.58 yesterday, close to the multi-year low of $2.54.

It could go lower and that is the hard thing to pick, just when to buy on weakness. As I have said before I am interested in buying more because I got my shareholding diluted in the capital raising.

The stock is currently paying a gross dividend of over 12%, subject to a 20% lower dividend payout come full year profit announcement late August but that represents good value considering profits are holding up well to last years figures -a rarity in profit results and company health over the last year of the current economic crises.

As I said there could be some more downwards pressure on the SKC share price to come (I haven't seen anything material for the recent drop) so best if you are interested in buying take a close look at what is happening before you pounce.

I hold the stock at a cost of below $1.90 per share.

Good Luck!

Stock of the Week Series

Burger Fuel Worldwide
Michael Hill International
Contact Energy Ltd
The Warehouse Group
Fisher & Paykel Appliances


Sky City Entertainment Group @ Share Investor

Sky City share offer confusing and unfair for smaller shareholders
Sky City CEO doubles down
Sky City Entertainment 2009 Interim Profit Review
Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
As recession bites Sky City bites back
Sky City Assets: Buy, sell and hold
Why did you buy that stock? [Sky City Entertainment]
Sky City Share Volumes set tongues wagging
Sky City half year exceptional on cost cutting
NZX Press release: Sky City profit to HY end Dec 2007
Sky City Cinemas no Blockbuster
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New Broom set to sweep
Sky City Management: Blind, deaf and numb
Sky City sale could be off
Opposition to takeover
Premium for control
Sky City receives takeover bid
Sky City Casino Full Year Profit to June 30 2007
Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

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