Forum Archive Index - April 2000

["hugh webber" <hugh.webber@clear.net.nz>]

While I agree that personal abuse of participants and public figures
such as Eric Watson has to be out (we may have been lucky to escape some
sort of legal case for a start) and that inventing derogatory names for
companies
doing badly, while quite clever and amusing and apt, is rather pointless
there are some elements which disturb in the lack of a robust debate.
Sure arguments have to involve facts and not just journalese interviewing
of one's
typewriter but take the Aquaria case as an example.
When it was trading at about 21 cents with no actual tech business or
factual
possibility of one, it was going on momentum trading and association with
'names'.
When I pointed out it was a 'risky share'  due to its chequered history and
some
of those involved and asked what its NTA per share was (4 to 5 cents) I was
roundly abused and called negative etc. 
Further analysis shows that of the 'names' there are a number involved, not
just one,
and that there is no history for some of these 'names' for acting together
and that
the major 'name' is interested in an ASX listing not an NZSE listing so
that a real
possibility is that the NTA will be just shovelled out of Aquaria to a
vehicle in Oz -
the NTA involved is only pocket money to the 'names' involved after all.
Current price -
about 12 to 13 cents I believe; so was buying at 20 cents & risky or not?
Anyway that is by the way, the issue is that factual points need to be
considered
even if they are in the reverse direction to the momentum desired. I could
point to
several other cases if required but I won't exacerbate old wounds.
I'd just people to be able to point to facts without getting abused as
'negative' or
comments like 'dishing it out but not being able to take it' - rather a
mysterious
remark but I'll let that pass.

But anyway lets get on with the game of factual discussions of the
sharemart,
there are some really promising situations on hand - at least to a long
term value
investor.

cheers,
hugh 

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