Saturday, January 5, 2019

CREDIT WHERE CREDITS DUE

I see my Mercury shares are now trading at $3.57 which is a $1.07 premium on their issue price.

And we won't even talk about the impressive dividend payouts in the intervening five years (this year projected at 15.5 cps) remembering that the taxpayer too has benefited from those payouts per courtesy of the government's 51% holding in the company.

So thank you to the Greens who, true to their mantra that business is bad, drove the price down with their ill-judged attack on the share float which allowed me to purchase more shares for the same amount of dollars and, in the process, deprived the taxpayer of many tens of millions of dollars from the partial privatisation of MRP, Genesis and Meridan.     Clear evidence that the average 'Greenie' would be hard pressed to run a chook raffle. 

And Labour too who clambered on the Green's bandwagon of economic sabotage with their never lamented Clayton Cosgrove (the man who made Trevor Mallard appear Christlike) and their spokesperson on SOEs labelling the shares a 'dog' investment.

And thanks also to Winston Peters who promised to compulsorily reacquire the shares at their issue price when he was next on the treasury benches ... bottled out on that promise too.   Becoming a bit of a habit.

Thank you guys one and all.

39 comments:

Anonymous said...

Add your Winter Energy payment!!

Lord Egbut Nobacon said...

Veteran...care to publish your share portfolio?....Tell us about the ones that went south.

The Veteran said...

Sorry Egbut .... don't indulge in 'my one is bigger than your one' type games.

Adolf Fiinkensein said...

But Veteran, by now you must know by now Peters bottles out every day, starting at about 11.00 a.m.

Johno said...

The effect of labour/Green/nzf attempting to sabotage the MRP float was to reduce the return to the New Zealand citizen and increase the return to the wealthy investor. It shows the level of financial literacy those parties have attained. Complete incompetence and damaging to those they claim to support.
As always.

Snowflake said...

The Tories undertook the privatisation and set the issue price, so it’s on them. Are you people seriously that stupid?

Johno said...

The price was set to meet the market which had been damaged by the ill advised political manipulation of the COL.
Being a retarded lefty you wouldn't understand.

Snowflake said...

The Tories didn't have to sell if they thought the asset was undervalued. They went ahead because they're silly ideologues. Being a swivel-eyed loon you should understand.

RosscoWLG said...

"they're silly ideologues"..... and the snowflakes of this world aren't ? duh

In fact you have a monopoly on "silly". You can find the definition of monopoly under Economics

Snowflake said...

Have another gin and go back to sleep Wigout, there’s a good boy. You do your best work when your unconscious.

Anonymous said...

The Nats have this thing about doing what they said before the election, Snowflake. As with basic economics - you wouldn't understand.

Psycho Milt said...

For sure, no sensible person would doubt the National Party's credentials when it comes to using the country's public assets to help further enrich the already-wealthy. Labour and the Green Party only ever manage it inadvertently.

Snowflake said...

Milt is correct that a low-ball price helped the Nats' chums make some cash at the taxpayer's expense, so yeah, a promise is a promise, right lads? Except when it's not, like with the superannuation surcharge. You guys are a bit dim aren't you?

Adolf Fiinkensein said...

Snowflake needs a vet. He shows all the symptoms of twisted bowel and excess bile.

Johno said...

Hard to do any better when you appear to be about 15 years old...

Snowflake said...

Goodness, let’s just resort to rabid abuse shall we chaps? No counterpoints? Not one? Yeah, not surprising, you’re all pretty thick and broadly incapable of rational thought. Johno seems particularly dense. Perhaps he should ask his mum to take him to the playground before he gets anymore upset.

Johno said...

You've been abusing all and sundry here for some time, Snowflake, so don't get all previous about it, you hypocritical little child.

RosscoWLG said...

All I can say is how did Snowflakebrain know I drank Gin, and whats even worse how the hell did he know I fall asleep after 10 of them!

Are the left watching me.. ..am I paranoid, or is this because of excessive use of Gin?

Going for a walk on Langs Beach before I fall asleep.

By the way Langs is a capitalist beach... no snowflakes allowed.

Snowflake said...

Precious wee creature aren’t you princess? Try working on your resilience and addressing the point instead of blubbing and having a tanty. You’re not Donald Trump (but you’re obviously as thick).

Adolf Fiinkensein said...

Snowflake takes projection and stupidity to new heights.

It was his rabid mates who tanked the share price so that Cullen, Clark and all the wealthy greens rich pricks could make a fortune.

Snowflake was too dumb and slow to get in on the deal.

Tries to blame it on the nats.

Johno said...

No blubbing here, just laughter at the resident pointless idiot Snowflake continuing to embarrass itself.

Snowflake said...

Adolt, the Nats did it. If they thought the asset was undervalued they could have held on to it. That would have been prudent. Instead they put the taxpayers on the hook and their chums made out like bandits. I know reality isn’t in vogue with you losers right now, but that one should be easy even for you to think your way through.

“No blubbing” blubs Johno... He just has something in his eye.

RosscoWLG said...

"Big Snowflake" is watching me

Johno said...

As was already explained to the slow-witted child Snowflake, the nats had a clear policy to sell MRP and had committed plans for the proceeds. They weren't about to let the COL dictate otherwise with their ill advised antics.

Got it yet, Snowflake?

Probably not, and past its bedtime anyway.

Snowflake said...

So they cost taxpayers a fortune and enriched their chums on principle. Thanks for admitting it. They broke other promises though (they upped GST for instance), so why was this so sacred do you think?

Lord Egbut Nobacon said...

Is it beyond the wit of you lot to present your arguments without turning this blog into Standard 3's play time. None of you deserve to have your opinions taken seriously after you devolve into childish name calling.

I suspect that some contributors are not New Zealanders and more interested in causing division and hatred like that which blighted St Kilda in Melbourne yesterday...all fueled by social media where no one is held accountable or whose ID is known.



The Veteran said...

Thank you Egbut for that reality check. For Flake ... the partial privitisation of MRP, Genesis and Meridian were front and center of the National Party's 2011 election manifesto which saw the Party returned with more seats and an increase in the popular vote. By any measure they had a mandate to go through with it.

Labour and the Greens (and to an extent NZ First) embarked on a campaign of economic sabotage to drive down the issue price and they were partially successful in that ... to what effect? ... the share float went ahead (it was always going to) and the taxpayer was deprived out of tens of millions of dollars. Thanx a heap Labour/Greens/NZ First.

Fast forward six years. The companies are performing well benefiting both the government (as the majority shareholder) and investors alike. The compulsory re- acquisition of the shares is off the table simply because Robinson knows that would damage the economy ... and, if you peruse the Share Register, upset some very prominent Labour Party people. Now, how do you spell h y p o c r i t e.

Brick said...

Well said Egbut - my recollection is that these sales were all market floats, so not set by Govt - but the price expectation was torn down by the threats made by opposition members to reverse the sales once in power.

Lord Egbut Nobacon said...

Fuck my old brown boot...even a plea for for common decency and informed debate is turned into political rhetoric by the right.

Take a long hard look how you treat each other..oh and Veteran, 95% of NZ has any interest in the share price of whatever, the are more interested in house prices they can no longer afford due to rents they can no longer pay due to the rich getting richer and the poor getting poorer and the middle class which is the glue that holds whole thing together rapidly diminishing.

Johno said...

When it comes to money there's no avoiding politics, left or right, Egbut. Politics sets the rules of how you make it, how you hang onto it, and what it's worth.

Lord Egbut Nobacon said...

who the hell is talking about politics. Are you being purposefully obtuse?

The Veteran said...

Yes Egbut ... and that is why National is on 46% in the polls and your mob on 44% with the Greens on the cusp of being booted out of parliament and Winston First goneburger.

gravedodger said...


Meanwhile the servants of the Taxpayers are enjoying similar if not enhanced returns from the now 51% holding in the three energy companies while the recovered capital dosh has been wasted elsewhere as Governments are wont to do.

I also took advantage of the shortened price at issue, purely as an exercise in "Take That" morons as an adjunct to my portfolio.

Lord Egbut Nobacon said...

Veteran....I don't have a "mob" as you have been informed about twenty times however the straw man argument usually impresses the dim witted.

Lord Egbut Nobacon said...

Colmar brunton.......preferred Prime Minister.

J.Ardern ....40%
J. Collins....6%

Says it all really.

Adolf Fiinkensein said...

Says nothing, really.

Hot air, piss and wind.

Lord Egbut Nobacon said...

Yup...just like Veterans poll presumably, or is his a magic poll from Hogwarts?

Psycho Milt said...

It was a real poll. That one was unusually favourable for National, so The Veteran takes that one as gospel. Other polls that put Labour and the Greens above 50% between them aren't mentioned.

Johno said...

It's the latest poll hence the most relevant though.
Preferred PM is meaningless as nobody gets to vote for PM. Helen Clark was even lower before becoming PM.