Forum Archive Index - March 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

Hi Ben,
I see Damian gave you the web site. Silly of me - should have included it in
my first posting. Did you visit?
They really do seem to have their act together if their site is anything to
go by. If anybody hears anything more about their rumoured listing It would
be great to get this info. I'll keep my nose to the ground for further news.
Cheers

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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                -----Original Message-----
                From:   Benjamin Reader [mailto:breader@clear.net.nz]
                Sent:   Monday, 13 March 2000 18:51
                To:     sharechat@sharechat.co.nz
                Subject:        [sharechat] Walker Wireless

                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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                >
                >
                >
                > -----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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