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Re: [sharechat] Frucor - Lessons Learnt

From:	"hugh webber" <hugh.webber@clear.net.nz>
Date:	Wed, 16 May 2001 07:29:45 +1200

Surely the lesson for those who haven't learnt it yet
is even more basic.
Don't invest in IPO's.
A cardinal rule of Warren Buffett and also followed by
Carmel Fisher. I can't remember Ron Brierley doing
it either except in one or two of his own.
Let the new company establish a track record and show
what its management is like and get rid of all the unexpected
but normal teething problems.
I only departed from it for Telecom and Telstra and Contact -
but they had track records etc and I got out of all of them 
before the fall (Contact at $3.41).
It works like magic - no tech crash for example.
Also avoid commodities - it also works like magic.




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