Forum Archive Index - October 2000

[Gerry Tyler-Smith <g.tylersmith@ext.canterbury.ac.nz>]

Well said.

>At the risk of pissing some individuals off I'll give my two cents worth.
>First I feel those angry that about the FFS situation should take a step
>back and ask "Why did I buy FFS?".   I think the answer to that question for
>those complaining is having seen what happened to FLP, thought they had the
>opportunity to make a killing and make it fast.  They were bought on the
>greater fool theory as opposed to a detailed study of FFS (which if it had
>occurred would reveal the NTA is no where close to the $1.60 commonly
>mentioned as CNIP is an associate was off balance sheet and hence it's debt
>was hidden, I think?).  Now people seem to be screaming the injustice done
>to them by Rod Dean.  In my opinion he did the right thing, as a long term
>shareholder in a company I would be livid (to the point of going postal) if
>the board made decisions based on the interests of the short term traders
>(who have no actual interest in the company) at the expense of long term
>stake holders.  For instance if Dr Dean came back and said they had sold TEL
>for $9.00 a share I would oppose it despite the fact I would stand to make a
>killing in the short term; long term I have an opinion on what it is worth
>and it isn't $9.00 (this post isn't to debate the merits of that view).  My
>point is if you are not happy to have a small stake in what you buy for the
>foreseeable future, than why would anyone else?  Therefore I think
>individuals are unjustified to complain when no "fool" turned up, and the
>directors (quite rightly) choose at act in the best interests of those who
>have an long term interest in FFS.
>
>Philip Talacek
>
>Disc Don't hold FFS
>
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