Forum Archive Index - December 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

The New Zealand sharemarket has, as various times, been described as 
the wild west of the financial world.   Such outbursts are most 
commonly reported when one block of shareholders has been outflanked 
by another.  In a fit of pique, accusations spill over to the 
New Zealand Stock Exchange itself:

"Change the rules, bring the purveyors to justice." 

There is a vocal group out there who would advocate 'lynching' as a 
suitable punishment for alleged share trading transgressions.  But 
isn't it funny how those same people, when they come out on the right 
side of a deal, go very quiet!   Perhaps there is a little bit of 
'cowboy' in the hidden psyche of even the most pin striped suited New 
Zealand investor?   New Zealanders come from pioneering stock, and 
sometimes that opportunistic side of pioneering character shows 
through, just as it did in the 'old west'.

Like any pioneering people, rather than shoot the sheriff at the 
first sign of trouble, often it is necessary to roll with the punches 
as you see 'em:   "Roll with the law, rather than roll over it".
  
Here follows a short series of stories from the 'Old West', with a 
distinctive 'New Zealand Stock Exchange' flavour.   There are no real 
heroes and villains "down at the Saloon".   But maybe if we  take the 
time to read these tales of the pioneers we will gain a better 
understanding of management and investor psyche, and that in turn 
will make us all better investors.  Happy reading.  SNOOPY

--------------------------------
Note:  The LTI (Learning to Invest) series is a concept by Gerry 
Stolwyk.  This post is at his invitation
-----------------------------------


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Message sent by Snoopy 
e-mail  tennyson@caverock.net.nz
on Pegasus Mail version 2.55
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"Dogs have big tongues, so you can bet they don't 
bite them by accident"

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