The Warehouse: What the ***k is it doing?

Let me begin this piece with I no longer wish to be a shareholder in The Warehouse.

You have seen it before.

The Warehouse finally seems to have done the business, straightened things out and is now on the way to increased sales/revenue and therefore ever increasing profits.

It did this a few days ago when it showed 'promising signs after spending about 200 hundred million odd (this time) on this that and the other' - buying companies left/right/and centre. (the speech patterns are mine but the above takes up a good few years of this and I'm too tired to re-hash the same old stuff)

But is the Warehouse going to buy every retailer in the country in order to be 'Where Everyone Gets a Bargain?' (watch out Dick Smith)

No.

They have to get more people through their doors and the way to do that is through offering THE cheapest branded goods around.

That is it.

Leave the rest up to us.

If by the smallest of chances I'm wrong and this is just the beginning of a new era of the red sheds,

Good luck.

But, you have lost a loyal supporter.



The Warehouse Group @ Share Investor

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Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions) by Benjamin Graham Buy new: $41.77 / Used from: $32.40 Usually ships in 24 hours

c Share Investor 2016

Some bedtime reading: Graham and Dodd's "Security Analysis"

I am in the process of re-reading David Dodd and Benjamin Graham's 1934 bible on investing.

Security Analysis.

It deserves a re-read after a life changing event like a stroke and from what I have read so far it kind of reinforces the conclusions I came to before heading down its 725 pages.

This 725 page giant of a book was written at a time where the global economy was in a depression brought on by the over exuberant roaring 20s and the subsequent 1929 stockmarket crash.

This book was initially looked at when were going through what they call, 'The Great Recession' in 2008 - you fill in your year for the finish.

It has had several updates since its original edition and is often hard to come by in your local bookstore. A sixth edition was out in 2008, when I originally wrote this. I wanted to read the original book to get a feeling for the markets and general investment outlook of the time. Its relation to today's market conditions is still important to me.

From the Amazon preview of the first edition of Security Analysis:


The original words of Benjamin Graham and David Dodd--put to paper not long after the disastrous Stock Market Crash of 1929--still have the mesmerizing qualities of rigorous honesty and diligent scrutiny, the same riveting power of disciplined thought and determined logic that gave the work its first distinction and began its illustrious career.

In their preface to this book, Graham and Dodd write that they hope their work "will stand the test of the ever enigmatic future." There is no doubt that it has.


Now I have other books on my reading list but I want to tackle this one first, principally because it was the text that Warren Buffett based much of his investing style on and as my regular readers know I am a Warren Buffett nut.

I have already read Benjamin Graham's The Intelligent Investor but I felt I needed a more detailed analysis of his investment style and his and Dodd's Security Analysis tome fits that bill to a tee.

Many stockbrokers in the past have used Security Analysis to go back to in times of doubt, and given current market turmoil investors might be wise to start reading.

It is clear the majority of stockbrokers in the United States and in other global markets haven't even turned a page of this essential investment tool and I know that is more than the case in New Zealand stockbroker circles.

My local ASB Securities broker said what? when I asked him during a related conversation if he had even heard of the book! Even The Intelligent Investor was another language to him.

You can get a physical copy of the book from the Share Investor Bookstore or download it free here.



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c Share Investor 2008 & 2016

AIA: To Buy Now Or Not To?

Would you buy Auckland Airport shares right now?

That is a very good question considering the first half profit will be announced next month you would have to say leave it to the other side of this announcement.

You would also have to say what about China whats it doing?

Well as far as the announcement is concerned that is going to be a good one for share holders - north of $80 mill for the half and that is more than likely going to boost the share price to past $6.

So the second question is worth looking at because it is a good one.

Is it worth waiting until the shite hits China then buy up or risk the share going up in price.

I bought my shares at 1.70, 1.50 and - 1.90, I think. I bought the during the depths of the great recession and they have turned out to be by best investment.

They have returned over 600% and my only regret is that I didn't buy 40,000.

SO, what are they going to do?

Well I can give you two pieces of advice because you are the one putting money on the line.

You can buy now with the inevitability that you are going to see similar returns (over 600%) or be patient (or if you think the China thing is another bubble you wont have to wait long) and wait it out till the stock-market has a correction (its not overvalued if you compare the income your getting from stocks to interest from the bank/having an investment house but long term it is overvalued on P.E ratios and a number of other financial ratios. )  

I going to stay shtuck (my google dictionary says that is not a word)on this for now and let you decide.

Whatever your decision it will be interesting.



AIA @ Share Investor

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c Share Investor 2016

Sky City: Time to Show Your Hand - and Our Money.

Nigel Morrison must be in two minds at the moment.

On the one hand we are doing well, on the other he is about to change the look of the company forever.

What is he doing with our money?

I say our money because it is our money.

Shareholders.

Their hand has been pretty much shown in the fact that 1 billion plus has been laid out and the first of the returns from it are about to come in this reporting period of Feb 11 2016.

I was reading the 3 quarters year about revenue and profit in October 2015 (cant remember where but I read it) and I read that Nigel Morrison was "extremely satisfied" with results. That's accountant speak for seriously happy - so were in for a good result.

What well look for is some serious revenue increases in Adelaide, Auckland, Hamilton, Queenstown and perhaps Darwin.

The accompanied figures will be the profits. They must show an increase and a propensity to increase as money is spent (the part I mentioned above - 1 billion).

They should continue to increase from here (with a few ups and downs).

I'm not sure were the additional tables games and slots come into play - they could be there already - so we could just start in the new year.  



Sky City Convention Centre @ Share Investor

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c Share Investor 2016