Forum Archive Index - November 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

Hi Warner,
Sorry I've taken a  while to respond to your post.

BDO:    I exited out of this today at 14.5 cents, having purchased a couple
of months back at 10cents. I'd really intended them as a long term hold but
decided to follow one of my favourite old  guidelines,  "nobody ever went
broke taking a profit". I'm still none the wiser as to why they rose the way
they did [50% in a week]. It will be interesting if good news does emerge in
the next day or so!!  I'm still a great believer in Business to Consumer
ECommerce. It will have its day. No doubt 
there will be some casualities along the way. I may buy back into BDO on any
price weakness.   

ITC:    Steven Tindill's family coy and ITC have now both increased their
holdings in DVI to 41.8% each. CIBC's equity research paper on ITC published
back in August estimated their asset backing to be around 25cents. I would
concur with this.  The following on the Chinese venture is quoted direct
from CIBC's paper: "ITC was recently awarded an 8 year contract to manage a
US$20 million venture capital firm that is focussed on the Chinese IT
market. Under the terms of the agreement ITC will receive a 3% fee [US$0.6
million pa]  in addition to a 20% cut of all future profits generated by the
fund."
In my very humble opinion  ITC are presently severely undervalued by the
market. The sale of Exonet  was a superb result and should, rationally, have
seen the share price take a good leap upwards. Of course the share market is
not necessarily a rational place and the price tumbled from that time.
You may be able to get a copy of CIBC's report from their website,
http://www.cibcwm.com.au <http://www.cibcwm.com.au>  
ITC's own website also keeps interested parties well informed,
http://itcapital.net <http://itcapital.net>   
Disc. I hold ITC.

Cheers
John

                -----Original Message-----
                From:   Warner Lamb [mailto:cloud9@i4free.co.nz]
                Sent:   Thursday, 2 November 2000 17:14
                To:     sharechat@sharechat.co.nz
                Subject:        Re: [sharechat] penny dreadfuls

                John, by the look of replies, theres not much interest
anymore. These are
                just my personal opinions.
                BDO..The last dotbomb to go under was an online beauty
retailer....Since it
                was issued at 25c, it will have alot of keen sellers with
any upward
                movement.
                NGL.. no real reason today for improvement. Could have been
one player
                having a go. End of day there were 7 trades for $6K..not to
breathtaking.
                This is in a similar situation to BDO but worse coming off a
high of 70c.
                Breakeven now out to end of 2001, not 2000 from my
understanding. Wont see
                any of my $$
                ITC.. I think has the most prospects (I have never owed but
am considering a
                punt around 20c). The 3D screen must have the biggest chance
of payoff dont
                you think?. I have been reading some articles about "head
and shoulder
                charts" and ITC, EFC, ADV and the rest seem to all be back
to mid 99 levels
                before any of the hype gathered momentum. Im not sure what
is supposed to
                happen to these stocks technically but you would think they
are in oversold
                territory. One concern for ITC is the small stakes they hold
in most
                companies (40% in DVI the largest) apart from 100% of
Terabyte that is. They
                still did well with exo net with only 35% but makes you
wonder what
                influence they have with only 18% of VS and 25% of Golden
Orb.
                Can you tell me more about Chinese co alliance. I hear that
it covers some
                expenses? Also assets and cash from what Ive read are now
worth more than
                shareprice....Can you confirm that.

                Thanks
                Warner



        
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