Happy with the company, not so happy about the share price,
however there has been plenty of
opportunity to average down, i still
believe it only a matter of time before the
price moves up closer to its true worth.
A week is
hardly going to frustrate me, especially when my other
two main investments looking up ie Frucor
and GPG.
Nufarm
is very interesting, people seem to either love it or hate it.
However compare its recent performance
with the likes of air new zealand,
advantage group and the dot bombs, who dont
even make profits.
Nufarm has consistantly
improved eps and dividend, plus the current buy back
should soon begin to have an effect on the
shareprice.
Those who bought in during the last
couple of weeks are already sitting
on a paper profit, and will also now recieve a
dividend. Looking through the
NZSE its hard to find anything
else much worth investing in, except
Frucor !! , which incidently should
be beniffiting greatly form all this
good weather we have been having, particularly
here in canterbury.
nick
Nick - must have been a prety
frustrating week for you in view of the remarks you made about Nufarm last
Sunday.
The message board also had a
report that Sky News in OZ had reported some takeover activity.
Pretty low volumes both here
and Aust last week kept the price down. Long term trend is still definitely
down and I feel that it will take more than good news to get the price back up
over $4.00
When you think about it David's views make a
lot of sense - esp when long term institutional investors these days look more
at a company's non-financial performance more and more when valuing a stock.
Taking these into account Nufarm will always have problems in getting their
share price up to what should be 'fair value' - based on financial
performance.
I still have a few Nufarm (in case
miracles happen) but must admit to taking some profits in February when I
started having some doubts as to the possibility that they were a lost
cause.
Cheers
Peter
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