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From: | "Brent Wheeler" <brentw@bwcl.co.nz> |
Date: | Mon, 13 Sep 1999 14:05:30 +1200 |
John Agree with your analysis. It does raise a couple of interesting points for us dabblers on the side: * it pays to remember that the good Mr Watson is in all probability (and in fact) diversified into other areas which we might not be and so maybe that is why he can afford to not bank profits after a ride from $0.17 to $1.40 way way north of 100% returns * your prognosis on ITC is the same story - here we have some diversification of management talent and not sole dependence on one individual. Surely more prudent longer term. Look at the BIL story. Once the guru left shorting was the only way to go. * in NZ of all places it pays to remember the horrors of no liquidity. Strathmore is no FCL when it comes to liquidity so slippage getting out etc are important considerations. I guess for me the most sobering reminder at present is Warren Buffet - probably the world's greatest investor to date - but note, he got done in Salomans, he sold McDonalds just before it took off again and Coca Cola is having a horrible time. I have no doubt he will surprise us all again but it is worth a thought. I wonder if Strathmore is not the classic example of where "dragging" your trailing stop up behind you isn't called for? Again liquidity is an issue. Useful interchange anyway. Dr Brent Wheeler Director Brent Wheeler & Co. Limited AUCKLAND -------------------------------------------------------------------------- To remove yourself from this list, email sharechat-request@sharechat.co.nz with "unsubscribe" in the body of the message.
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