Forum Archive Index - December 2001

[nickk@quicksilver.net.nz]

Dick

You said "The Government led the charge by selling assets that had been
built up over 50 and 100 years..."

Might just be that the Government actually sold liabilites that had been
built up over that same time!

Cheers

NK

Dick O'Connor writes:

> Gerry, By and large, what you have done on this site has been very 
> interesting - the first one, I think, to name shares and then follow their 
> fortunes on a regular basis and with success (pity the Sept 11 business had 
> to happen). I'm sure most of us would wish you well.
> 
> I find it hard, however, to feel too gloomy about the NZSE. This site alone 
> shows that more and more are waking up to the harm that has been done by 
> making it too easy for overseas' companies to come in and buy up a lot of 
> our companies. Brokers, of course, have always jumped in to get their share 
> of quick gain at the cost of long-term profit.Now, however, they're changing 
> their tune because they are going to own stock in the exchange. The Govt led 
> the charge selling assets that had been built up over 50 and 100 years and 
> more - a main reason billions of profits have flowed out of this country and 
> there is not enough now for needed health, education, and policing services.
> 
> At least there are now efforts being made to make sharemarket activities 
> less offensive. It can grow and get better.
> 
> There have always been ups and downs in the NZ market and there always will 
> be. Despite this there must be many of us who hold portfolios of good 
> companies we are happy to own. Just because prices have gone too high to 
> make attractive buying does not mean to say they will always be that way and 
> that we will never be able to find anything worth investing in here.
> 
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