Forum Archive Index - January 2001

["tonysw" <tonysw@xtra.co.nz>]

Nick,

My sentiments indeed - you are not the only one!

I chased FFS down to .59, and then told myself that I had failed in these moves before. So I let 400K of FFS slip away and I'm finding it hard to adjust to this one.

But the 'the big wheel turns' albiet a little slowly sometimes, but it still turns.

TonyW

----- Original Message -----

From: nick

To: sharechat@sharechat.co.nz

Sent: Friday, January 12, 2001 9:11 AM

Subject: [sharechat] Fletcher forest , why the sudden change in opinion?

       Barely two months ago,  many people here were forecasting

that the rights issue would be a total disaster , and that forests might

drop to as low as 10c a share.

         Selling the rights was pointless as they were trading so low, while

taking the rights up looked risky as many were saying "why buy they will be

cheaper than 25c anyway.

                    I myself was caught up in all this, i did take up the rights but only

because of bad reasoning, (too chicken to admit i made mistake in buying

forests at 60c, and desperate to try cut losses)

             Since then what has been most suprising is not that the shares have gone up,

but that they now seem to be everybodys pick to be the top performer this year.

     This seems slightly odd considering that nothing has really changed

company wise since the rights issue. 

          Why has this transformation in sentiment occured?  Were we all the victims

of a giant ramp up?  The press and many brokerage firms were not

exactly screaming at us to take up the rights  many were predicting them

to go down. Yet now these same firms have forests on the buy lists.

 Who were the people buying up millions of rights as many investors sold theirs?.

        

   nick