I think analysts e - and companies in particualar spin the best possible stories - so that people read what they want to read.
If I look at the return offered by this congomerate over the last 3 years - its negative ito share price. - sideways and onwards.
Now the analysts tell me to get excited because the sum of the parts is below their value of R48,00 - as if I am expecting it to be equal to that ?
Hastings growth in earnings - negatived by interest payments - so what would I be jumping up and down about that expensive addition - bought in a market of gathering isolation.
That leaves me with the insurance side - MMI ( !!) - Discovery( btw what actual benefits do they offer - their offering is not lower cost - in fact their prices that are challenging - their charges for adminining the Health side are so topish?) The only people who I have ever met who are excited about vitalility are the product providers - So RMIH as a group to me anyway .... persently overpriced - and outsurance - the one imponderable which has a simple non- snake oil approach AND a clear business model ...perhaps the real gem - alledgedly they are going to teach Hastings how to "do it" - which could be good
So now GT Ferreira has departed - and what effect will that have - hopefully some innovation and less sitting on assets. Buy - ?
The present " discount" is not a discount - to me anyway