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[sharechat] Re - Focused Portfolio & TRH

From:	"Krypt Or" <kryptz@hotmail.com>
Date:	Sat, 14 Oct 2000 08:18:05 GMT


Personally I think Tranz Rail are an appalling choice for such a portfolio.

What have they got going for them?
- With NZ having a population of only 3.5M there isn't the density to 
support a strong profitable railroads company.
- Total lack of monopoly - trucks and shipping provide full competition with 
the added advantage that trucks can go anywhere.
- Huge assett base(/requirement) is actually a disadvantage (sorry you 
people who like a high NTA), this means ongoing maintenance and upgrade 
costs eat very nicely into earnings thank you very much.

IMHO of course.

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