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Printable version |
| From: | "Talacek, Philip " <pjt57@elec.canterbury.ac.nz> |
| Date: | Thu, 05 Oct 2000 21:35:59 +1300 |
The Buffet comment is interesting in that one of the things he looks to avoid is companies which are required to invest large sums of capital just to stay competitive in their current (not new) operations (Something which was the case with Berksire H. before it was turned into his toy.). I remember thinking in the beginning of the year how TEL fitted this capital hungry description and reduced my exposure, not enough as it would turn out. But if someone had suggested inn February that TEL would be selling for $5.50 I would have bet the farm against it. Often large amounts of required capital can (and has) acted as a barrier to entry, sadly TEL isn't the big ugly kid on the communications block and there are may others able to match them dollar for dollar. The capital spending wouldn't bother me so much except I'm sure that all (well most) of the benefits will go to the customers (in the form of improved services) with little to me. Having said that I'm not willing to write them off yet. I see a world where a father sitting in a hotel room in London can watch his son's footie match live over his mobile phone or through the TV. I see videos rented (down loaded?) over the web deliver to my TV then and there, a complete selection always available without me having to leave home. I don't think any one doubts the delivery of data (read services) electronically has unquantifiable potential. In these fluid times the question is who will (or be allowed to!) make the money delivering these services? If any one at all. Philip Talacek Hold Telecom > -----Original Message----- > From: hugh webber [SMTP:hugh.webber@clear.net.nz] > Sent: Wednesday, 4 October 2000 19:16 > To: sharechat@sharechat.co.nz > Subject: Re: [sharechat] Wringing Telecom > > thanks Philip. I had wondered if Warburg might roll the TCM IRs over > again. > Ironical that Telecom was desperate to avoid being an income stock and now > they're 'in danger' of that again. > Makes one think of Warren Buffett's analysis that its a waste of time > investing > in new technology stocks because when he researched what had happened with > planes > cars, electricity etc large amounts of capital had had to be invested > before > the return stage was reached at which point new entrants had flooded the > market and the overall new technology wave situation was that investors > had > made a loss. > > cheers, > Hugh > ---------- > > From: Talacek, Philip <pjt57@elec.canterbury.ac.nz> > > To: sharechat@sharechat.co.nz > > Subject: RE: [sharechat] Wringing Telecom > > Date: Wednesday, 4 October 2000 22:26 > > > > The TEL instalment receipts have a final instalment of $4.70 due in > November > > I think. Until a few months ago they consistently traded at a large > premium > > (30 cents or more) to the head shares, I assume due to the increased > > leverage and a belief TEL was on the way up. Since TEL's collapse and > the > > closing in of the final instalment, liquidity has disappeared (not that > it > > was ever great). With the due date so close the premium buyers are > willing > > to pay for the leverage is close to nil, as such any one who purchased > the > > instalment receipts in the last nine months will be sitting on huge > losses > > (they traded over $5.00 earlier in the year). I'm not sure they are > trading > > any more though (which could explain the liquidity problem now that I > think > > about it). > > > -----Original Message----- > > > From: hugh webber [SMTP:hugh.webber@clear.net.nz] > > > Sent: Tuesday, 3 October 2000 20:56 > > > To: sharechat@sharechat.co.nz > > > Subject: Re: [sharechat] Wringing Telecom > > > > > > I was interested in the TCM IR's which Warburg kept going. I did ask > > > some questions about them on Sharechat some time ago but was totally > > > ignored. > > > They're still quoted on Teletext but not updated for the last week or > so > > > (slack beggars) and in the Sunday Star Times. The further TCM falls > the > > > > better yield bargain and more highly geared the IRs get for an > upswing. > > > But what are the terms and conditions for these IRs? > > > (resounding silence again I suppose). > > > cheers, > > > Hugh > > > > > > ---------- > > > > From: Ben Dutton <bendutton@sharechat.co.nz> > > > > To: sharechat@sharechat.co.nz > > > > Subject: Re: [sharechat] Wringing Telecom > > > > Date: Tuesday, 3 October 2000 17:32 > > > > > > > > Matt - I've been in and out of TEL for a while now - and don't have > any > > > at > > > > the moment. > > > > > > > > The current volatility makes it a great trading stock...if you can > pick > > > it > > > > right! :) > > > > > > > > Best Regards > > > > > > > > Benjamin Dutton > > > > > > > > ----- Original Message ----- > > > > From: "Matthew Van Veen" <mattvanveen@hotmail.com> > > > > To: <sharechat@sharechat.co.nz> > > > > Sent: Tuesday, October 03, 2000 5:23 PM > > > > Subject: Re: [sharechat] Wringing Telecom > > > > > > > > > > > > > Ben - I thought you bought into TEL a couple of weeks back. > > > > > I think it will be the oseas investors driving the price so if > other > > > Fund > > > > > Companies follow suit then price should climb. Having said that > they > > > are > > > > on > > > > > a downward trend still. > > > > > > > > > > Matt > > > > > > > > > > > > > > > >From: "Ben Dutton" <bendutton@sharechat.co.nz> > > > > > >Reply-To: sharechat@sharechat.co.nz > > > > > >To: <sharechat@sharechat.co.nz> > > > > > >Subject: Re: [sharechat] Wringing Telecom > > > > > >Date: Tue, 3 Oct 2000 14:32:24 +1300 > > > > > > > > > > > >I'll let others tackle your question Heather but will say that > it's > > > > > >interesting to see the below SSH notice today - "Brandes > Investment > > > > > >Partners L.P", a U.S. funds management company, must regard the > > > current > > > > > >price as cheap - they've just increased their stake on the open > > > market. > > > > > > > > > > > >Share price has reacted quite nicely as well - up to $5.94 at the > > > moment > > > > > >(hit a low of $5.70 this morning) > > > > > > > > > > > >Best Regards > > > > > > > > > > > >Benjamin Dutton > > > > > >(Do not hold TEL) > > > > > > > > > > > >TEL > > > > > >03/10/2000 > > > > > >SSH > > > > > > > > > > > >REL: 1259 HRS Telecom Corporation of New Zealand Limited (NS) > > > > > > > > > > > >SSH: TEL: SSH NOTICE RECEIVED > > > > > > > > > > > > NOTICE 6681 DETAILS > > > > > > > > > > > >Submitted Date : 03-Oct-2000 12:56 > > > > > >Status : Accepted > > > > > > > > > > > > Add Holder : N Change Holder : Y > > > > > > Ceased Holder : N Change Nature : N > > > > > > > > > > > >Issuer Code : TEL Telecom Corporation of New Zealand > > > Limited > > > > (NS) > > > > > >Sub. Sec. Holder : Brandes Investment Partners LP > > > > > > > > > > > >Address : 11988 El Camino Real > > > > > > : Suite 500 > > > > > > : San Diego > > > > > >City : CA 92130 > > > > > >Country : United States > > > > > > > > > > > >Contact Name : Ian Rose > > > > > >Phone : 858 755 0239 ext 3251 > > > > > > > > > > > >Total of Interest : 152679847 > > > > > >Total Issued : 1752802000 > > > > > >Total % : 8.7 > > > > > > > > > > > >Class : TEL > > > > > >Votes Attached : 1 > > > > > > > > > > > >Beneficial > > > > > > Total of Interest : > > > > > > Current % held : > > > > > > Last % held : > > > > > > > > > > > >Non Beneficial > > > > > > Total of Interest : 152679847 > > > > > > Current % held : 8.7 > > > > > > Last % held : 7.6 > > > > > > Names : Brandes Investment Partners L.P > > > > > > Provisions : 5F > > > > > > Transaction dates : 21/09/2000 > > > > > > Total Votes : 152679847 > > > > > > Considerations : 1525307398 > > > > > > > > > > > >Description : > > > > > > Acquired shares in open market for managed client accounts > > > > > > Consideration: Because Telecom New Zealand stock was > purchased > in > > > > > >various > > > > > > lots, listed consideration is based on average purchase price > and > > > > > >exchange > > > > > > rate of NZ$2.4540 per US$1.00 > > > > > >Documentation > > > > > > With Notice : No > > > > > > Not Filed : No > > > > > > Been Filed : No > > > > > >Number of pages : 1 > > > > > > > > > > > >Date of Last Notice : 08-Apr-2000 > > > > > >Rel. Sec. Holders : > > > > > > > > > > > >Submitted By : Ian Rose on 03-Oct-2000 at 12:56 > > > > > >End CA:00060157 For:TEL Type:SSH > Time:2000-10-03:12:59:24 > > > > > >Encrypt:Y > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > ----- Original Message ----- > > > > > > From: Heather Reiss > > > > > > To: sharechat@sharechat.co.nz > > > > > > Sent: Tuesday, October 03, 2000 2:28 PM > > > > > > Subject: [sharechat] Wringing Telecom > > > > > > > > > > > > > > > > > > Telecom shares have become a lesson in patience for me. > Besides > > > the > > > > > >obvious (ie company moving from yield to growth and investor > doubts > > > about > > > > > >teleco stocks), does anyone have any intelligent and or intuitive > > > views > > > > on > > > > > >1.) the continual downward movement of these shares? 2.) are they > > > worth > > > > > >perservering with? Or should I take a dive before they do again > and > > > > again.? > > > > > > > > > > > > Regards > > > > > > Heather De Reiss > > > > > > > > > > > > > > _________________________________________________________________________ > > > > > Get Your Private, Free E-mail from MSN Hotmail at > > > http://www.hotmail.com. > > > > > > > > > > Share information about yourself, create your own public profile > at > > > > > http://profiles.msn.com. > > > > > > > > > > > > > > > > > > > -------------------------------------------------------------------------- > > > > -- > > > > > 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. > > > > > > > -------------------------------------------------------------------------- > > > -- > > > 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. > > -------------------------------------------------------------------------- > -- > 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. 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