Forum Archive Index - March 2000

[Derek Watt <dkw@paradise.net.nz>]

Maybe I wasn't clear enough in my posting, I didn't sell flb for
the sake of it, but because in my opinion there are better short-term
opportunities out there and my funds are finite. 

Thanks for your opinions Nick and Mike.

Derek W

At 06:16 PM 3/16/00 +1300, you wrote:
>Nick wrote
>            "Looks a very bad time to exit building to me. They are
>incredibly cheap, i say buy, buy, buy.
>      Arnt you supposed to buy low sell high? not the other way round
>             Nick"
>
>I agree. When they got to $2.08 a few days ago I bought another heap of
>shares only to see them collapse to $1.90 yesterday. They seem to have
>recovered some of the lost ground this morning. FLB have good earnings and
>cash flows; the businesses making up the group are in the main  well managed
>(especially  PlaceMakers ) and the company should thrive once it gets out
>from the dead hand of Fletcher Challenge Corporate.
>
>The current price weakness is caused by selling by indexed funds out of
>Australia, which in itself raises questions about the merits or otherwise of
>investing in these funds, and could continue for a week or so yet.
>
>For those that are interested CS First Boston have just produced a
>comprehensive 21 page analysis of FLB entitled "Bridging the value gap" and
>I am sure if you popped along to your local office or gave them a call they
>would give you a copy. They have a valuation of $3.00 on the shares as do
>ABN AMRO.
>
>Incidentally whilst talking about CSFB they have vastly improved their web
>site which is worth a look on www.csfb.co.nz <http://www.csfb.co.nz>   This
>was previously client access only but is now open to everybody
>
>Cheers
>Mike H
>
>
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>

-----------------------------------
Derek Watt
http://members.tripod.com/DKWatt/
-----------------------------------




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