Share Investor Portfolio: Value at 13 December 2010

The Share Investor Portfolio was marginally up on last weeks portfolio update. The portfolio was up by 0.33% or $918.40. As you might expect from this nothing much moved at all. The bulk of the portfolio, SKC, was even and other shares moved marginally up to take up the slack.

The total of unspent dividends in the bank from the 2010 earnings year is $16631.93 at close of reporting season for 2010. There are also approx $50000.00 in tax credits earned from the portfolio since it began in late 2002.

Share Investor Portfolio as at 17:30:00, Friday 10 December, 2010

Stock	Quantity	Cost price	Total cost	Market price	Market value	Change	%
AIA	2,000	$1.700	$3,400.00	$2.070	$4,140.00	$740.00	21.76%
AIA	2,000	$1.510	$3,020.00	$2.070	$4,140.00	$1,120.00	37.09%
AIA	803	$2.150	$1,726.45	$2.070	$1,662.21	$64.24	3.72%
AIA	445	$0.000	$0.00	$2.070	$921.15	$921.15
AIA	64	$1.650	$105.60	$2.070	$132.48	$26.88	25.45%
ASBPB	2,946	$0.000	$0.00	$0.706	$2,079.88	$2,079.88
ASBPB	7,054	$1.000	$7,054.00	$0.706	$4,980.12	$2,073.88	29.40%
BGR	438	$0.000	$0.00	$1.400	$613.20	$613.20
BGR	2,562	$0.990	$2,536.38	$1.400	$3,586.80	$1,050.42	41.41%
FBU	266	$0.000	$0.00	$7.820	$2,080.12	$2,080.12
FBU	848	$9.750	$8,268.00	$7.820	$6,631.36	$1,636.64	19.79%
FPH	3,000	$2.350	$7,050.00	$3.140	$9,420.00	$2,370.00	33.62%
FPH	541	$0.000	$0.00	$3.140	$1,698.74	$1,698.74
FPH	1,459	$3.720	$5,427.48	$3.140	$4,581.26	$846.22	15.59%
FRE	1,882	$0.000	$0.00	$3.050	$5,740.10	$5,740.10
FRE	6,749	$3.630	$24,498.87	$3.050	$20,584.45	$3,914.42	15.98%
GFF	541	$0.000	$0.00	$1.800	$973.80	$973.80
GFF	1,459	$2.330	$3,399.47	$1.800	$2,626.20	$773.27	22.75%
HLG	244	$0.000	$0.00	$4.170	$1,017.48	$1,017.48
HLG	756	$2.530	$1,912.68	$4.170	$3,152.52	$1,239.84	64.82%
KIP	190	$0.000	$0.00	$0.990	$188.10	$188.10
KIP	810	$1.480	$1,198.80	$0.990	$801.90	$396.90	33.11%
MFT	1,000	$7.960	$7,960.00	$7.670	$7,670.00	$290.00	3.64%
MFT	1,838	$8.000	$14,704.00	$7.670	$14,097.46	$606.54	4.13%
MFT	657	$0.000	$0.00	$7.670	$5,039.19	$5,039.19
MFT	1,505	$4.200	$6,321.00	$7.670	$11,543.35	$5,222.35	82.62%
MHI	1,646	$0.860	$1,415.56	$0.820	$1,349.72	$65.84	4.65%
MHI	7,000	$0.630	$4,410.00	$0.820	$5,740.00	$1,330.00	30.16%
MHI	718	$0.000	$0.00	$0.820	$588.76	$588.76
MHI	636	$1.050	$667.80	$0.820	$521.52	$146.28	21.90%
PPG	31	$0.000	$0.00	$0.300	$9.30	$9.30
PPG	1,500	$0.440	$660.00	$0.300	$450.00	$210.00	31.82%
PPG	1,004	$0.800	$803.20	$0.300	$301.20	$502.00	62.50%
PPL	1,000	$3.090	$3,090.00	$1.650	$1,650.00	$1,440.00	46.60%
PPL	1,000	$2.870	$2,870.00	$1.650	$1,650.00	$1,220.00	42.51%
PPL	939	$4.200	$3,943.80	$1.650	$1,549.35	$2,394.45	60.71%
PPL	877	$0.000	$0.00	$1.650	$1,447.05	$1,447.05
PPL	1,184	$1.530	$1,811.52	$1.650	$1,953.60	$142.08	7.84%
RYM	459	$0.000	$0.00	$2.230	$1,023.57	$1,023.57
RYM	4,586	$1.970	$9,034.42	$2.230	$10,226.78	$1,192.36	13.20%
SKC	5,750	$7.430	$42,722.50	$3.130	$17,997.50	$24,725.00	57.87%
SKC	1,000	$7.600	$7,600.00	$3.130	$3,130.00	$4,470.00	58.82%
SKC	2,750	$7.700	$21,175.00	$3.130	$8,607.50	$12,567.50	59.35%
SKC	1,431	$8.750	$12,521.25	$3.130	$4,479.03	$8,042.22	64.23%
SKC	25,085	$0.000	$0.00	$3.130	$78,516.05	$78,516.05
SKC	899	$4.720	$4,243.28	$3.130	$2,813.87	$1,429.41	33.69%
STU	78	$0.000	$0.00	$2.090	$163.02	$163.02
STU	322	$4.740	$1,526.28	$2.090	$672.98	$853.30	55.91%
WHS	4,500	$3.730	$16,785.00	$3.750	$16,875.00	$90.00	0.54%
WHS	6,979	$6.000	$41,874.00	$3.750	$26,171.25	$15,702.75	37.50%
WHS	2,880	$0.000	$0.00	$3.750	$10,800.00	$10,800.00
WHS	641	$3.710	$2,378.11	$3.750	$2,403.75	$25.64	1.08%

15.49%

	Total cost	Market value	Change
	$278,114.45	$321,192.67	$43,078.22

Share Investor Portfolio @ Share Investor

Share Investor Portfolio: Value @ 6 December 2010
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Serious Fraud Office set to Make "Ponzi" Arrests

There is going to be an arrest today based on evidence obtained by The Serious Fraud Office (SFO) of an individual involved in a "ponzi" type money go round scheme where 10s of millions of dollars have gone south.

There is conjecture though as to who the individual might be. There are a number of SFO investigations currently active as listed on their website. Those involved with investor money, and with more than $20m of losses are as follows:

• Aorangi Securities
• B'On Financial Services
• Bridgecorp
• Capital+Merchant Finance
• Dominion Finance
• Five Star
• Hanover Finance
• Kiwi Finance
• Nathan Finance
• National Finance
• South Canterbury Finance
• WSD Global Markets

All the above have been involved in dodgy shell games with other peoples money so it is anyone's guess just who it might be.

In my opinion the most likely contenders are Hanover Finance, Aorangi Securities and South Canterbury Finance.

The last two entities are just two of Allan Hubbard's failed financial vehicles and have been under investigation for a number of months by the SFO and other financial oversight bodies but the investigation is unlikely to be finished yet due to the complications surrounding bookkeeping issues, the sum of money involved and the complex interrelation of insider companies lending money to each other.

There has been some indication though from evidence thus far disclosed that there has been some sort of "ponzi" like money go round, with fake investments, forged documents and lack of full disclosure or any disclosure at all with the bulk of investments made during the last two years or so.

To me though the most likely contender for manacles today will be either Mark Hotchin or Eric Watson from the failed Hanover Finance group.

In the dying days of Hanover many millions were transferred from the company to the personal accounts of the aforementioned and for many more years before that the company operated on a knife edge cashflow wise as dividends were stripped and short term money was invested in long term assets - as most finance companies did.

Hanover has been under the shadow of the SFO for most of 2010 and only a few weeks ago pressure was put on directors as they faced some "serious questions" from an SFO ready to finally grab one of the more high profile individuals from New Zealand finance company failures over the three or four years.

From the list of Finance companies above there are already a number of individuals as directors facing court time in 2011 and some have already been charged with other financial misdemeanors and worse and have either walked or faced a slap on the hand with the proverbial bus ticket.

Hanover is the most high profile finance company failure bar the Allan Hubbard Saga and Hotchin and Watson certainly do not have the support that Hubbard has had and would be a feather in the SFO cap as they seemed to have reached a frenzy of activity over the latter part of 2010 after being relatively quiet over the last 4 years on finance company failures.

The scalp of either Watson of Hotchin would be a major public relations coup for them and for that reason, along with their clear hide and seek nature with investors funds of their former business, I will take a punt and pick them for court time in 2011.


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Hanover Saga

Hanover, Allied Farmers deal more of the same
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Allied Farmers: Rights Issue Decision
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Allan Hubbard Saga

Full SFO Statement on SCF Fraud Investigation

Download Grant Thornton Report 1
Download Grant Thornton Report 2
Download Grant Thornton Report 3
Download Grant Thornton Report 4
Download Grant Thornton Report 5

Join the Put Allan Hubbard Away Facebook Group

Book Review: Allan Hubbard: Man Out of Time, by Virginia Green
Allan Hubbard Saga: VIDEO - Hubbard Biographer Virginia Green on TVNZ's Breakfast
Book Extract - Allan Hubbard: Man Out of Time
Allan Hubbard Saga: Going Feral - Part 3, The Final Cut
Allan Hubbard Saga: Going Feral - Part 2
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Allan Hubbard: The Biography
Allan Hubbard Saga: On Forged Signatures and Uncharitable Trusts
Allan Hubbard Saga: Evidence of Fraud now Clear
Allan Hubbard Saga: NBR VS the SFO
Allan Hubbard Saga: South Canterbury Finance to be investigated by the SFO
Allan Hubbard Saga: Third Grant Thornton Report
Allan Hubbard Saga: Will He Walk?
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Allan Hubbard Saga: 60 Minutes Interview, Sept 23 2010
Allan Hubbard Saga: Supporters head to the exit door
Allan Hubbard Saga: Threats & the Mysterious PWC Report
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VIDEO: Jenni McManus Explains Allan Hubbard Collapse
Allan Hubbard Statement on SCF Receivership
VIDEO: Sandy Maier - full news conference on SCF Receivership
Market Alert: South Canterbury Finance to be placed in Receivership
Allan Hubbard: Ignorant Supporters Blissfully Unaware
Thornton Report 2: Allan Hubbard Guilty as Charged
Allan Hubbard: Full TV3 Interview - July 16 2010
Thornton Report 1: Allan Hubbard's Aorangi Securities
Bothered by Simon Botherway

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Allan Hubbard: Man Out of Time - By Virginia Green





c Share Investor 2010

Stock of the Week - Reprise 5: Contact Energy Ltd

Contact Energy Ltd [CEN.NZX] has been a good trading stock over the last couple of years and since I last pointed out that fact in October the stock has put on nearly 50c or around 9%. A pretty good short term return.

From approx $5.70 in October 2010 to be trading at $6.18 at time of writing the stock is fast approaching a ceiling of around $6.25 it has reached several times over the last 2 years or so. (see 2 year chart above)

A second more rarer ceiling of around $6.50 is not far away.

If you have been trading CEN, and you of course will already be watching the stock closely if you are, you should be now deciding if you want to let your luck run or bail out and wait for the next fall in the stock price down to its regular 18 month floor of just above $5.50.

A good opportunity to take some profits off the table and to watchlist it for a buy on the way down,

By on weakness below 6 bucks.

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Discuss this stock at Share Investor Forum - Register free
Download CEN Company Reports

The Warren Buffett Way by Robert G. Hagstrom Buy new: $19.54 / Used from: $12.94 Usually ships in 24 hours

c Share Investor 2010

Consumer Alert: Rusty Kia K2900 Commercial Vehicles

I bought a brand new Kia 2900 commercial vehicle back in May from Giltrap Holden over here on the North Shore of Auckland for my Landscaping and Gardening business. Excellent specs, air con, electric this and that, great stereo, good hauling capacity and more power under the hood than most.

All for an excellent price of $28,000.00 - I haggled down from $34,000.00, I am that sort of guy.

The only problem is that there was surface rust all over it that you really couldn't see when buying.

Reluctantly Giltrap Holden had a look at it and had 2 goes at removing what was there but really were incapable of doing a proper job.

This was then forwarded onto Craig Buckley, National Sales manager for Kia, who personally came to my house to rectify the problem (excellent service from him) and to cut a long story short the job was done well and came back last week all rust proofed and shinny and better than new - save an aerial that wasn't screwed back on.

The only problem is that the rust issue was a systemic one that all these vehicles had and Chris said they had been withdrawn from sale which I agreed should be the case.

When I asked if Kia was going to contact other Kia K2900 owners about this rust issue though Chris said no and it would be up to customers to complain.

So this is a warning to owners of Kia K2900s and prospective buyers because Kia is still selling these vehicles.

This is not good enough and I thought a recall of the affected vehicles was in order.

Not good enough Kia.


Related Links

Email Kia National Sales Manager Graig Buckley
Mobile - 021 246 0779
Direct Line - 09 573 3261


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c Share Investor 2010