Forum Archive Index - September 2000

["Peter Maiden" <pmaiden@today.com.au>]

Agree Mark - but seems to suffer from extreme levels of market sentiment.

In spite of reporting consistently growing revenues (albeit because of 
Starbucks) price volatility is high. You may recall my trashed stock policy.

RBD was trashed early August from $1.10 odd to $1.00. Hve since gone to $1.18 
(18% over a few weeks is pretty impressive). The speed of the recovery actually 
resulted in my holding the ones i got.

There doesn't seem to be any rhyme or reason to why they should move up and 
down as they do - and the moavements recently have happened pretty fast.

No doubt a lot of the sentiment goes back to the float price a few years ago of 
$2.50.

Fundamentals are alright and the business seems to well run. The stock has been 
undervalued for some time - and although undergoing growth through the purchase 
of Eagle Boys as you say the current dividend yield is high as well.

There was a story in the Herald the other day. No particular reason - maybe the 
company thought they needed a bit of publicity to give the warm fuzzies to its 
shareholders

Interesting about Cobb & Co - complements other activities. The Cobb & Co in 
Petone always looks pretty busy. From what I hear very much over priced for 
what you get - but then that possibly improves margins.

Peter

Disc: Recent purchase of RBD

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