Forum Archive Index - September 2000

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

Personally I'm glad that ADV mis-represented their profit,
it gave me a chance to quit at a reasonable price. Had they been
up-front the share price may have fallen further. Still,
I would never buy them again unless they fell below $1.30 or
unless some interesting news turned up.

Derek



At 07:26 AM 02/09/00 +1200, you wrote:
>Ethics seem to be the flavour of discussion at the moment so it was timely
there was another story in the NBR about the way the ADV result was
reported - especially how it did not reflect the true position of the years
performance. Note the large increase in operating cash out of the business.
>
>http://www.sharechat.co.nz/articles/nbr/20000901-14-money.shtml
>
>Personally (as per a previous post to this forum) I was disappointed that
the NZSE did not take more action in this instance.
>
>We should support the calls to action as outlined in the article. I have
written to the NZSE supporting the view.
>
>Back to ADV I note that the recent decline in price has lowered the PE to
46 on current earnings. I would say that the company would say that based
on their projected earnings it is most likely closer to 20.
>
>I look forward to obtaining a copy of their annual report in due course.
Have never held but been interested because of the business they are moving
in - however been turned off by the hype and the lack of substance in any
reports from the company.
>
>No matter how I construct a DCF I can't see more than 200 for ADV. Still a
spec for me at this stage.
>
>Haven't given up completely and still follow with interest and when
convinced could be interested. Does this mean that their PR is all wrong.
>
>Peter
>
>
>--- Move to a better address ---
>       + today freemail +       
>    http://www.today.com.au     
>
>----------------------------------------------------------------------------
>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.
>
>




----------------------------------------------------------------------------
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.