Forum Archive Index - October 2000

[nickkearney <nk@xtra.co.nz>]

Hey

I don't blame you for going but with the sharemarket, don't play with
matches unless you are prepared to get burnt.

Those who buy on speculation have to be prepared to take a loss.  AQL is
a prime example.  It isn't nice but it's the nature of the game.

I think Fletchers have some answers to give, but there are definitely
some people here that need to look in their own backyard first. 
 
Luckily I didn't buy into the speculation but I have done previously and 
when I lost I learnt a lesson and moved on.  Some others have to do the
same.

Cheers for now.
NK

2000@z.com wrote:
> 
> Don't mean to be too negative, but really, in the current environment
> how can I not. I brought parcels of FFS at 87 and 89 on the way up,
> when the rumours of a pending sale were rife. I have been burnt in
> the past by shares quickly turning so I watched these ones like a
> hawk. I sold both parcels at 85 and 87 respectively. I was annoyed
> having lost a few hundred on each sale. This must be nothing compared
> to what some of the small shareholders are feeling. Those who have
> seen 50% of the value of their stock and possibly savings etc. wiped
> out in effectively a couple of weeks. I too think it is a disgrace
> what FLC have done to their shareholders and if it had happened to me
> (almost did) I would be pounding on their door asking for
> explanations and getting fellow shareholders together for the
> upcoming general meeting to find management accountable.
> I too will be one of the ones to leave the country. I am 25 and the
> only reason I came back to NZ after spending 3 years away on my O.E.
> was because my work visa expired. I will get into Europe by going to
> work in Ireland which incidentally was an economy very similar to
> ours but is now one of the fastest growing and most attractive in the
> world. When I was overseas a lot of the Irish had left their homeland
> as the economy was in poor shape and there were no jobs. These same
> people are now returning in droves. Hopefully our country can start
> to get it right so that our NZSE40 actually does show some returns
> over the next 13 years and so that graduates leaving behind huge
> student loans earning interest will be enticed back home, not just
> because our scenery has been rated 99.92/100 (i.e. No 1 over Canada)
> by travellers in Conde Nast magazine. Also good win by the cricketers
> last night - see not all bad news!!
> 
> Check out the latest in z.com programming, produced exclusively for
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