Forum Archive Index - March 2000

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

Good article on wireless in this morning's Herald. Mention of Wilson Neill,
Savoy [both with recent wireless investments] and Walker with a "possible"
float coming up.
I hold Savoy shares.

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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