Forum Archive Index - September 2000

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

Adam - yes, RNS has had a run lately.

I did post the below in mid-August. Since then they have acquired a SI 
distributor to expand distribution into that area and are starting to have 
great success with their Conduit supply initiative - not only in NZ but getting 
involved in Singapore as well.

I still believe that the price will continue to move up and I am holding onto 
my parcel for longer.

What I posted in August follows - the comments still apply -

I have been critical of ADV in the past - mainly because it is hard to pull out 
the real bully from all the hype. I still feel (not based on deep research)that 
at current prices ADV is still speculative. However will try to find time to a 
bit of study soon on ADV.

One of my deeply researched investments (research and a true understanding of 
what you are putting your money into is vital if we are serious for long term 
investing - trading on the short term rises is another matter) is Renaissance 
RNS . Noticed the strong rise over the last week or so - from hovering around 
the 55-60cents mark in April thru June at the current price of 89 cents it is 
starting to show the real value there is in this company.

I do recall some chatters thinking DFM were a bit ahead of themselves when they 
valued the share at #1.35 odd - we'll see. I have confidence. Both RNS and ADV 
are moving from more traditional businesses into a e-commerce model - one of 
the differences is that RNS is a lot further down the track. 

Such a change in direction needs a high level of investment. This comes at a 
cost and impacts on short tern earnings - hopefully you deliver higher earnings 
later.

With the growth rates that RNS have achieved in providing web and internet 
services the payback period for the 'lost' earnings through the investment 
stage is shorter than most expected.

Peter

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