Forum Archive Index - May 2000

["Michael Gore" <michgore@paradise.net.nz>]

Another thing is that this broker did not tell me that these shares were in the form of an instalment receipt with a further 57c due even when I ordered 9000 at 62c.  Man I was VERY green at the time.  I only found out further payment was due a couple of months later.  Well I have since learned a lot in a hurry.  Can I name people in this forum?  Perhaps Ben can advise.  michael

 

 

----- Original Message -----

From: Oliver Shapleski

To: sharechat@sharechat.co.nz

Sent: Sunday, May 28, 2000 4:33 PM

Subject: Re: [sharechat] Capital Properties

62c??? Ouch.  Better returns than the bank? Get money out whenever? 

Michael, who IS your broker??? The Mad Butcher?

 

----- Original Message -----

From: Michael Gore

To: sharechat@sharechat.co.nz

Sent: Saturday, May 27, 2000 11:19 PM

Subject: Re: [sharechat] Capital Properties

Oliver - I've only been interested in the markets about 12 months or so (still a relative newbie) so I have no recollection personally of the float being oversubscribed or not.  This is probably an error on my part.  My broker may have been talking about buyers shortly after the initial float increasing their holdings on a vague dream that they would have saved the money by the time 2nd instalment was due or on some vague hope that the receipt price would have increased.  I will phone my broker first thing on Monday and see if I can find out more specifically what he meant.  I bought at 62c on his advice by the way  - "a higher return than the bank and you can get your money out whenever you like" were his exact words as I recall so maybe your comment about changing brokers is sensible. cheers michael