Forum Archive Index - March 2001

["hugh webber" <hugh.webber@clear.net.nz>]

Today's press, page 12.
'Billionaire investor Warren Buffett bounced back as his Berkshire 
Hathaway reported doubled profits for the year 2000, fuelled by 
growth in its old economy subsidiaries and gains from long-standing
investments.
The year before, profits were cut by shabby investment returns largely
due to Mr. Buffett's refusal to join the technology stock craze.'
....
'Mr. Buffett reiterated that Berkshire preferred to make money in old 
fashioned businesses and investments, rather than speculating on
overvalued stocks.'...
....
'We have embraced the 21st century by entering such cutting-edge industries

as brick, carpet, insulation, and paint', he said. 'Try to control your
excitement'.....
'The stock (BH) has risen 74% on the same day 12 months ago.'

hmmm, is Carter Holt now the next case of China disease, the road
down which so many NZ companies have gone only to re-emerge
sometime later, limping painfully in the other direction. If I recall
aright the last patient was Tower, I wonder has it made its fortune...

CNZ010 (Faizal). I don't follow. And as Warren Buffett said (plagiarised by
Carmel Fisher in last Sunday's Star Times) 'If I don't understand a
business I don't invest.' A brief look in Access website said CNZ010 
finished at 9 cents and that there were no trades today. But the last day 
it did trade it opened at 9 cents, rose to 25 cents but then closed at 
9 cents.
Maybe someone floated a juicy rumour, the day traders made hay and
then it was all over.
The head share rose a couple of cents in line with the market but has 
now dropped back a couple of cents in line with the market.

Whats the next excitement? Oh, yes, someone spent their pocket 
money on Aquaria and forced up the price by .3 of a cent. Maybe
its being prepared for a back door listing of Amazon.com in retreat
from the Nasdaq....now there's a juicy rumour for you....



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