Forum Archive Index - February 2000

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

As Keynes said 'in the long run we're all dead'. 
However as there's a history of longevity in my family
particularly my mother's side (my 94 year old uncle bought
750,000 Wilson Neill a over a year ago at one eighth of a cent each) 
I hope to get a good run for my money - at least another 50 yrs anyway.

As Phil Eriksen pointed out its irrelevant to the long term investor what
the market is doing at any particular time or period of time. We buy 
profitable stocks at dirt cheap prices and when the conditions are right
we unload for a better one and what counts is not growth but profit, ratios
and return on capital.

And going by today I'd hardly say the days of the NZSE are numbered.
Actually the lower the market is the better the long term investor likes
it;
plenty of bargains and if nothing else you can just enjoy the high fully 
imputed dividends.
While the fly by nighter faddists are in deep depression or parabolic
hyperbole 
I'm laughing all the 
way to the bank.

cheers,
Hugh

P.S. Interesting thought: Is cleaning up the uneconomic parcels a precursor
to
performance take-off? Wilson Neill, Boag, Dorchester...(but Brierley not?).

---------
> From: brendon peters <bndpeters@postmark.net>
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] SEU 
> Date: Thursday, 10 February 2000 22:13
> 
> Hugh,
> Norman Geary and SEU have had a long long time to figure out what
> they can do with the accumulated funds......and still they wait while
> other more enterprising companies see their share prices soar on the
> stock market. 
> I suspect, considering the state of the NZ stock market now, that the
> days of the long-term investors are numbered. The name of the game now
> appears to be to latch on to the flavour of the week or month, buy up
> when the shares are cheap, and sell up before they start to plateau
> out. 
> But for the traditional investors, I suppose they can wait...and
> wait...and wait for something to happen with stocks like SEU.
> Good luck.
> 
> Brendon
> 
> 
> 
>
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