Forum Archive Index - March 2000

["Benjamin Reader" <breader@clear.net.nz>]

What is the website to Walker Wireless John?

Ben

----- Original Message -----
From: Wedde, John <john.wedde@cit.ac.nz>
To: <sharechat@sharechat.co.nz>
Sent: Monday, March 13, 2000 11:52 AM
Subject: RE: [sharechat] Selecting Good Recovery Stocks on the NZSE


> Enjoyed your posting Hugh.
> I did much the same exercise myself over the weekend and interestingly
came
> up with many of the same conclusions as you.
> To your list of possibly overlooked shares however I'd perhaps add a few
> more that, IMHO, are worth looking at:
> In the Agricultural sector, which seems to be recovering, Reid Farmers
have
> great fundamentals [P/E  8.6;  Div Yield 6.6]
>
> The property sector has been hammered but the yields are pretty good on
some
> of them - echo your sentiments on Capital Properties. Southern Capital are
> also interesting with some very lateral  rural "lifestyle" real estate
> developments, plus investments and connections with mussel farming in
> Clifford Bay [the proposed new South Island ferry terminal site], and a
> holding in, soon to be main board listed, Estar On Line. Can Trans Tasman
> go any lower?
>
> Back to the agrarian sector, horticulture company Cedenco is one I am
> kicking myself for not taking a stake in some months back. Profits
improve,
> P/E is only 6.6; Div Yield 6.3 and price/nta only .62
>
> On the second board I like Wgtn Drive Technologies but don't have any
"hard"
> fundamentals on them.
>
> I'm interested in rumours that Walker Wireless may list. I was impressed
> with a visit to their web site last week.
>
> John Wedde BCA, MA, Senior Lecturer, Business Communication
> Programme Leader, NZ Diploma in Business
> Central Institute of Technology
> Box 40 740 Upper Hutt, New Zealand
> EMail: John.Wedde@cit.ac.nz <mailto:John.Wedde@cit.ac.nz>
> Phone: 5276397 EXT. 6747 Mobile 025843729
>
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> ---ooO-(_)-Ooo---
>
>
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>
>
> -----Original Message-----
> From: hugh webber [mailto:hugh.webber@clear.net.nz]
> Sent: Saturday, 11 March 2000 09:18
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] Selecting Good Recovery Stocks
> on the NZSE
>
> well folks I thought I'd make time to do something I haven't
>
> previously got around to, an across the board look at NZSE
> stocks. Unfortunately Sharechat seems to spend 99% of its
> time discussing 5% of the stocks (is that too generous?) and
> some of it is in terms of scuttlebutt - which I admit is
> interesting
> and sometimes useful when its correct but I'd hate to make
> decisions
> on the basis of that alone unsupported by facts. The vast
> majority
> of the NZSE stocks never get discussed at all. Sad but true.
>
> Looking at the sharetable in The Press today I picked the 40
> shares
> that are at or near their lows over the last year. I left
> out one or two
> complete losers, one or two which are essentially overseas
> stocks
> but I left in those about which I know nothing in the hope
> that others
> could supply comment. There are 148 shares in the table and
> I would
> point out that I've left out the Unlisted Market (lack of
> quick easy data)
> and I think there are quite a few companies which don't
> operate even
> on the Unlisted Market but which you can buy by writing to
> the company
> secretary like Summerfruit Orchards. (no, I'm not advocating
> Summerfruit
> its just an example).
>
> Air NZ A. Having a cash issue which Kiwis hate. Ansett I
> think is in strike
> problems. Buffett analyses airlines as commodity sellers
> (output only
> differentiated by price, no or low barriers to entry) and
> won't touch them.
> Air continues to get outmuscled by Qantas and Singapore etc.
> Any cut
> price operator large or small can force big drops in ticket
> prices. I
> wouldn't
> touch them these days.
>
> Arthur Barnett. Dunedin mostly, and Chch, just completing
> big building &
> revitalisation initiatives. Is down because of this work in
> progress. Could
> be
> an interesting little flutter as it claws up again.
>
> BIL. Nuff said already I think. Until it gets rid of Thistle
> Hotels (UK),
> Air NZ and
> Molokai Ranch any initiative it makes is totally lost in the
> huge
> unproductive
> overhang of non performing assets. I prefer to be marked by
> the markets on
> this one
> and yesterday the market said they were worth 36 cents
> compared to their yr
> low
> of 35 cents.
>
> Capital Properties. Best yield on the market I think. Due
> for a 57 cents
> call on 30
> June which is depressing the price. Good quality government
> properties 99%
> tenanted in Wgtn. Recently took over Shortland Properties in
> Auckland 90%
> tenanted. If you want yield/income that is probably
> sustainable this is it.
> (sorry,
> I'm bisassed, I've bought heaps incl chunks at 32/33 cents).
>
> CDL Hotels NZ. If they are still hotels then they have the
> hotel disease
> same as
> Thistle in the UK. Probably due to commodisation - any
> improvement and
> someone
> puts up new hotels and/or converts office blocks to hotels.
> Things like
> Americas Cup
> only last small part of the yr even though they're high
> profile.
>
> CDL Investments. Don't know them, any comment?
>
> Designer Textiles. A sad case, I thought they were being
> taken over or
> going under but
> I haven't kept up with the play. Any comment?
>
> Evergreen Forests. Forests unfortunately are commodities
> altho they're on
> some sort
> of recovery at the mo. Evergreen has a tie up with one or
> two larger US
> investment outfits
> who have put money into it and it has been expanding over
> recent years
> quite strongly.
> Anyone know when they start cutting in a big way? could be
> interesting with
> a perfectly
> timed entry and exit.
>
> FCL Building. I suppose they are dragged down by the
> uncertainty of when
> the letter stocks
> will be untied. They have been recommended a lot at rather
> higher levels as
> a good bet to go
> with the NZ economy recovery.
>
> FCL Forests. Some comments from Evergreen and FCL Building
> apply. Anyone
> know when
> they start cutting in a big way? There was the comment that
> they were
> actually the easiest
> of the letter stocks to extricate and we did have the debate
> over debt
> levels which turned out to
> be reasonable. Interesting technology tie in with Genesis
> and smal
> investment in Genesis.
>
> Goodman Fielder. Essentially overseas now. Makes trendy
> comments about
> getting into Asia,
> management reorganisation, growth, but the data always sadly
> lags the talk.
>
>
> Guinnees Peat. One of the few that has been discussed a bit.
> Its not just
> Sir Ron Brierley but
> he has some other bright cookies on board such as Dr Gary
> Weiss
> (Disclosure: I used to play
> soccer with him at Uni.) 1% debt, net conservative asset
> values of over
> $2.00 a share vs market
> price of $1.40. Talk about throwing pearls before
> swine....esp given its
> track record and the increasing
> number of plays its in and succeeding at. Only the E-tech
> tulip mania could
> do this to it....
>
> Hallenstein Glasson. Good management, expanding soundly into
> Australia via
> a successful beachhead
> in Melbourne. Sorted out its buying problems. Is
> occasionally recommended.
> Good track record of
> continuing steady growth and paying decent dividends. Good
> yield/income
> stock for the 20% of investors
> who usually get trampled on in sharechat.
>
> Hellaby. Has done some good things and is soundly
> managed,Tur Borren &.
> Probably suffers from being a conglomerate
> when sharp integrated focus is now the thing. Unfortunately
> recalls Westmex
> and Russell Goward the hero
> from IEL who plunged into shoes in the Uk and sank without
> trace. I think
> people may be more excited when
> it exits Hannahs and finds some more trendy investments.
> Although boring
> investments which make lots of
> money are preferable.
>
> Infratil. I have a small holding but I must admit I haven't
> kept up with
> the play and why they sank from $1.48 to
> $1.13 this year. Maybe something to do with Labour and its
> regulation
> plans? Very good management and track
> record. I'd be interested to hear what, if anything has gone
> wrong or is it
> just missing the E and .dot. Maybe Infratil@tech would do
> the trick?
>
> Well, there's probably a limit on how much one posting will
> take so I'm off
> with the dog and will do some more later.
> Wonder if there's any good investments in dogfood...
>
>
>
>
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