Forum Archive Index - October 2001

["Philip Robinson" <pcr@ihug.co.nz>]

Title: Message

Thank you for your kind words Nick,

 

I was very happy to see the trading halt this morning, thought there might be UK news, but bitterly disappointed at the takeover offer, in all reality I don't want $3 or $4 for my frucor, I want the chance to own a progressive expanding, forward thinking New Zealand company. The chance to share in the good work that others have done and show the world that New Zealand can do it, and do it well. But unfortunately again the big boys with their high riding foreign currency come along and take all our fun away.

 

Nick I lost hope a long time ago and commend your effort to try and make people see the light, I have come to the conclusion that medical education makes all but the most extreme optimist an all out cynic, but thats a side point. I find people often follow their own line, and have their own agendas and there are surprisingly few with an open enough mind to think outside the square, I am the first to admit that I also suffer from this at times. I do a lot of research and burrowing, and really believe that you get out what you put in and I am sure that you would agree with me that you don't go about making decisions on what is said on a forum such as sharechat, but you can at least let people can get ideas from them. People don't even seem to want to hear what you have to say, "just listen to me and talk to me about my issue and tell me what I have to do/say/buy/sell". Told you I am cynical.

 

Back to the matter at hand. I was thinking forward a little and thinking where I should put my FRU money when/if it comes through, thinking the ASX is looking a little more appealing, I have 89% of my portfolio in NZ and am thinking I am overweight NZ, even though I am the furthest thing from an index follower than the industry has know. Then I thought no, thats no good, but in reality there are better oppotunities for my money.

 

I was very happy to see people buying above the target price, but this is just delaying the inevitable unfortuanetly, becasue I surmise that they will have pay more for it, but they will get 90% eventually, I don't really see this as the point, as Ben rightly pointed out in his article that he put together (Great article Ben, commend this quality stuff), that the point is the systematic loss of quality from the exchange and they are just buggering around counting their proverbial NZSE shares or whatever I don't care what it is, the fact is they are not doing what is required.

 

I am going to make 25% in a year, which I am not complianing about, and probably more but I actually want to keep my Frucor shares, no matter that I only have 700 at the moment, but this has made me more cynical about the NZSE, which has taught me everything I know about stock markets and means I will take my future money offshore in all reality. As Ben has pointed out, something really has to be done.

 

Some may say I am I am bitching/complaining that I am having my Frucor shares taken off me and I agree with you that yes I am but I am also saying that the systemic situation is not good for all concerned.

 

Would be interested in ones' comments and have a good evening I am going back to study, will be finished soon (so will Frucor)

 

Phil R.