Forum Archive Index - April 2000

[Gerry Tyler-Smith <g.tylersmith@ext.canterbury.ac.nz>]

"...so young a body with so old a head."  (Merchant of Venice in case Bad
Boy (or Girl)  RIL  wishes to castigate us further for our lack of
education...


You wrote:  "  My thought is that this downward plunge will be enough to
bring consumer spending to a major halt (what little fraction of the CPI
numbers  there is beyond the oil contribution...) so as to require a
softening of  interest rates lest the US consumers do lose ALL confidence
and indeed do bring  on a severe economic depression.  No doubt a recession
has started.   It has started very quickly too, and Greenspan will not be
looking to spend his  last term in office stuck in a depression."  

Very perceptive ... one must never underestimate the power of the ego of
those in power ... but what do I know...?  Look at  my Nufarm,  Fletcher
Building, oh God, POA;   even my dear little Nuplex...?  And as for
Aquaria, even wise, honest  young David McEwen was recommending it!  Oiy
vay!   "Ships are but boards, sailors but men; there be land-rats and water
rats, land thieves and water thieves ...'

Though, Oliver, I think you are again very wise to have many small holdings
... Warren Buffet had enough clout (remember, he is the son of a
stockbroker), to actually visit, interview, inspect etc, any company he was
willing to put millions $ into ...  From looking at the dismal splash of
red adjacent to many of  my holdings today, i can't help but agree with Bob
Jones's chum old Ron Brierly regarding the virtues of  many diversified
holdings of 'interesting' stocks ... some of my diversified holdings  have
only gone down a cent or two ...eg, HLG, CDL, AFFCO, WHS... If I'd done as
my stockbroker advised, and had large holdings in only five or six
companies,  I would now  be whinging much more expansively, and had much
less entertainment in getting to this  nadir in my abysmal career as an
investor ...



----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
To remove yourself from this list, please us the form at
http://www.sharechat.co.nz/forum.html.