Forum Archive Index - August 2000

[Phil Eriksen <phil@acepay.co.nz>]

Warner Lamb wrote:
> 
> Where is everyone, all gone Skiing? 1.8m dump at Mt Hutt. What do you think
> of FEG, Shell chances.? Rocom up 120%, TEL finishing under $7. FFS not
> getting caned.
> Hello!!!
> R
> Warner

I sold my FEG today @ $7.95.  While there is a chance I'll look like an
idiot in 2 weeks if Energy is sold for some fantastic price, I suspect
many people are still holding because of the "don't want to look like an
idiot" factor.  I wouldn't be surprised if Energy didn't get sold and I
suspect $7.95 won't be sighted again for quite a while if this happens.

Don't hold any FFS - my reason for choosing FEG a while back over FFS
was simply FEG seem to hold more attractive assets so if the worst came
to worst, I wouldn't mind holding them a while.  While on the surface
FFS looks to offer potential profits (even if bought at todays prices) I
tend to pay more attention to the downside than the upside with "special
situation" stocks.  If FFS doesn't get sold (even tho it looks like it
will) I can't imagine things would be pretty, and even if it is sold, I
wouldn't want to estimate the price with any confidence.

Rocom - no comment at all re the stock, although congrats to anyone
holding it on the gains so far.  My real interest is in the NCM
concept.  I have a feeling we may be seeing a lot of small, speculative
companies getting onto the main board via NCM over the next few years,
and this can only be good as long as we all understand the risks.  New
Zealands future, and the NZSE's, is in small companies, not big ones. 
We struggle to grow them, and if we do, it is natural we lose them
eventually in search of bigger (greener?) pastures.  

Telecom - Don't hold any.  If i'd held them for income, I would have
sold them, or be selling them, as I suspect many will do.  If I want a
growth company, my first choice would not be a multi billion dollar
behemoth with an increasingly weak position.  It is much easier to turn
1 million into 2 million than it is to turn 500 million into a billion
(and so on) due to the decreasing lack of opportunities to do things
that will have a real impact on your results as the numbers get larger. 
Almost by definition, my idea of a "growth" company is something much
smaller than Telecom, with a lot more to gain, and a lot less to lose.

Cheers,
Phil

----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.