Forum Archive Index - February 2000

["hugh webber" <hugh.webber@clear.net.nz>]

Thanks to Ben Dutton for posting the Australian Financial News article re
the sudden
and large falls of Solution6 and LibertyOne yesterday. Its interesting that
in Australia
anyway, although apparently not yet in NZ, investors are becoming
discriminating between
good techs and overblown techs particularly as their time of reckoning
draws closer (reports
to shareholders). Interesting to recall also the comment of a very large
Funds manager from
Oz when he was in NZ last year that "only 2 techs in Australia had credible
business plans". Sausage
seems very well organised and researched in its reports to me (I'm biassed,
of course) so I wonder who the other one
was? Obviously not Solution6 (the largest tech in Oz) or LibertyOne.....

A few selected quotes from the AFR I can't help highlighting.... 
"Bellwether internet stocks LibertyOne and Solution 6 closed below the
psychologically significant levels of $1 and $10 yesterday, reflecting
selective uneasiness among investors about high-flying tech stocks."
"Solution 6 shares were last traded yesterday at $9.65, almost half their
peak of $18.35 on December 23 but still well above the $1.85 they sold for
at this time last year."

 And for those who questionned the fickle woman comparison (pax Fiona, I
concede in advance).... 
"Both companies were on the defensive last night, echoing analysts in
blaming market rumours and investor fickleness for the downturn in
sentiment." 
Hmmm, Ok, there are fickle men too (not me of course....)
 
Maybe soon we'll have something to get our teeth into ... 
"LibertyOne is expected to report its results by the end of this month.
Solution 6 is expected to announce its numbers on February 24, according to
broker JB Were & Son."


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