Forum Archive Index - March 2000

["hyperion" <hyperion@ihug.co.nz>]

RIL,  Yeah the NZ stock exchange is very woeful at the moment.  All these
people talking about tech stocks and bailing out of original old companys
are probably adding the matter as well.  If only they stoped and looked at
some good old company buys at moment, Contact energy is a sure thing pays a
good divi and has gone from 2.70$ to 2.90 in two weeks no chance of a big
drop either, even when the tech bubble bursts, all industry, households,
e-commerce companys still need electricity :).  Also Westpac trust will be a
good buy if it drops another 10c to 7.50$ 16.8 % divi!! and certain upward
spiral in current low share price.  I sold westpac shares on 09/02/00 for
8.28$ time to buy back in I feel there is good money to be made on original
stocks.  Speculation is a dangerous thing as are stop losses,  which are no
doubt being used on highly speculative stocks,   bigger companys are not
open to this as easily and that is where the true value is.  Telecom always
peek around there divi payment and then drop,  a very good trading stock
bought 04/02/00  @  8.25$ before divi, sold  on 17/2/00 for 9.36$ nice
little turn over.

Oh well enough of the ranting, NZ stock market is pretty dismal latley.
----- Original Message -----
From: RIL <RIL99_99@yahoo.co.uk>
To: <sharechat@sharechat.co.nz>
Sent: Tuesday, March 07, 2000 9:33 AM
Subject: [sharechat] NZ market


> As an expatriate even I am stunned at the performance of the NZ
> stockmarket. I knew things were bad there but I didn't think that bad.
> NZ industrial stocks are being abandoned and this spells disaster for
> NZ.
>
> From the articles I have read through the net and various conversations
> with friends foreign investors are bailing out and the local retail
> investors are as well (what few of them remain).
>
> The rub is that no longer can an industrial company easily raise money
> to invest; create jobs etc. This is a dire position.
>
> I will go out on a limb here and predict that within 5 years the NZ
> stock exchange will no longer exist in its current form. The good
> companies will list on the ASX and a reject market will run in NZ.
>
> I say this because when the tech market crashes (as it must), the last
> of the retail investors will exit the market. Most of the people hyping
> tech stocks on this site and on the market have not been through a crash
> and from their posts most of them do not have a clue on company
> valuations.
>
> I was emailed a great article from the the NBR last week by Gareth
> Morgan which sums it up well. The lemming retail investors are coming
> out in droves to buy IT stocks and most of those stocks are rubbish. But
> fish like these do not rise from the water very often and every
> experienced public company wide boy and his mother is cashing in.
>
> To the few retail investors who get my meaning and are not blinded by
> greed, get out and stay out.
>
> You will otherwise get burned.
>
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