Forum Archive Index - August 2001

["Richard Hooper" <hoop@ihug.co.nz>]

Hi Michael
Every dog has its day
be patient
I have been slowly building up shares in CAH over the last year, predict
2002 to be the year of the tree.
:))
Hoop
----- Original Message -----
From: "michael gore" <michgore@paradise.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, August 22, 2001 2:26 PM
Subject: Re: [sharechat] Baycorp - Sky


> Yes Snoopy I agree with what you say, my comment was intended as tongue in
> cheek.  No I certainly don't want to start up the whole moral investing
> thing again as we have just had this discussion here.  I just think it's a
> shame that say, Carter Holt, for example couldn't be posting record
profits
> year after year but of course I know that that's a diffrerent thing
> altogether, commodity cycles, old established company, mature sector etc.
> Still, wouldn't it be great for NZ if CHH did have year after year of
> outstanding growth like BCH and SKC?  Oh well dreams are free.
> Michael
>
> ----- Original Message -----
> From: <tennyson@caverock.net.nz>
> To: <sharechat@sharechat.co.nz>
> Sent: Thursday, August 23, 2001 1:59 AM
> Subject: Re: [sharechat] Baycorp - Sky
>
>
> > >
> > >
> > >If the darling of the NZ market was previously a debt collector and
> > >now that they are to go, the NZ market's best company is to be a
> > >casino operator, then perhaps RIL has been right all along.
> > >Michael
> > >
> > >
> > Michael, my suggestion that Baycorp was the 'best' company in New
> > Zealand and now perhaps Sky City is, was a purely 'accounting' level
> > statement.  Principally I am thinking in terms of return on equity
> > and a consistent 5 year profit growth trend.
> >
> > I know there are people who think that "all gambling is a bad thing",
> > and so by implication "Sky City must be bad" and therefore "Sky City
> > cannot be the best company".   This is more a moral argument.
> > Whatever financial figures I were to quote you would not make a scrap
> > of difference on to moral argument like this.
> >
> > Different again is the question:
> > "Should you invest in the best company?"
> > Since I am using a five year performance time horizon, the fact that
> > Baycorp might be the best should be of no surprise to anyone.   It is
> > very likely that a lot of this 'bestness' is already built into the
> > Baycorp price.  So purchasing the 'best' company can be quite risky
> > if you pay too far over the odds for it.
> >
> > SNOOPY
> >
> >
> >
> > ---------------------------------
> > Message sent by Snoopy
> > e-mail  tennyson@caverock.net.nz
> > on Pegasus Mail version 2.55
> > ----------------------------------
> > "Q: If you call a dog tail a leg, how many legs does a dog have?"
> > "A: Four.  Calling a tail a leg doesn't make it a leg."
> >
> >
>
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