Forum Archive Index - October 2000

["hugh webber" <hugh.webber@clear.net.nz>]

Can't really follow your logic on port coys being commodities.....they run
a tolling operation on the traffic passing thru they don't buy and sell 
commodities....I think their financial results over the last few yrs speak
for
themselves....Chch Star tonight has an interesting write-up on big
expansion
in the last 5 years followed by much bigger expansion soon.
Still, why am I saying this, ignorance is bliss, I'll keep rolling in the
money
while u guys keep plugging Aquaria, FFS, Carter Holt, .....

I'm afraid I've lost the thread on where we got to on Buffett (can't devote
most
of my spare time reading sharechat unfortunately - damn good article on the

New Economy in the London Economist to finish reading, a bit of genealogy,
computer chess, family stuff, walking the dog...and oh, then there's the
job)
but somehow a magical figure that only 4 Buffett coys should be allowed in
NZ appeared and a suggestion of a Buffett index and another suggestion that
everyone throw $1,000 at it.
I'm interested in a Buffett index providing the index basket is chosen
properly
and we don't buy into magic numbers....I would suggest that luckily there's
more than 4...and I would also observe that since the vast majority (of
chatters)
don't seem to understand or want to understand Buffetology then we aren't
in danger of
being overrun by the herd who'll snitch our profits...rather the comparison

should be casting pearls before swine...maybe Gadarene swine....

cheers,
Hugh

----------
> From: Philip Robinson <robph639@student.otago.ac.nz>
> To: sharechat@sharechat.co.nz
> Subject: Re: [sharechat] Re - Buffett
> Date: Wednesday, 11 October 2000 19:29
> 
> Krypt,
> 
> I try not to upset people, thats why. But if you would like an example.
> 
> - RBD I see as a company at the mercy of consumers and the economic
beast,
> it can grow revenue little except by buying other chains which is
expensive
> and takes a while to get back.
> 
> - Port companies are in my view pseudo-proxy commodities business as they
> are at the whim of the companies that send them stuff, which are usually
> commodities businesses. I know they have a local monopoly but I seem to
> recall a chair saying they could handle twice the coal they were doing
now.
> If only someone wanted to send it to them. I don't see BCH waiting around
> for someone to send them coal.
> 
> >From my reading on Buffet these are the sort of businesses that have
little
> expansion possibility, although I did see that one of the ports has
signed
> an alliance, and I must admit I haven't read the announcement. I also
must
> say that I have looked no further for information about RBD or any of the
> port companies than what I read on sharechat so I may be very wrong.
> 
> Phil
> 
> 
> ----- Original Message -----
> From: "Krypt Or" <kryptz@hotmail.com>
> To: <sharechat@sharechat.co.nz>
> Sent: Wednesday, October 11, 2000 4:21 PM
> Subject: [sharechat] Re - Buffett
> 
> 
> > Phil & Brian
> >
> > I think a spreadshett/points system is an excellent one.
> >
> > Buffett did say companies should return dividends IF the company could
not
> > re-invest the profits at a justifiable return.
> >
> > If you are flabberghasted at some suggestions why not say what and why?
> >
> > We still havn't agreed on a Buffett valuation for BCH..coz at the end
of
> the
> > day isn't that what a purchase decision is made on?
> >
> >
> >
> >
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