Forum Archive Index - December 2001

["hugh webber" <hugh.webber@clear.net.nz>]

if Applefields wins....one couldn't ask for a better illustration of why value 
investors and
Buffett fans don't participate in the competition the way it is structured.

Now if it was targetted to the company that achieved the biggest % sustainable 
increase in net
earnings per share and net assets per share in 2001....as distinct from a 
simple minded and
temporary increase in share price then it could be a different story...

Another interesting aspect - say Mr Chips had won under the present 
structure....since its
impossible to buy more than about 100 Mr Chips and the value comes to oh, about 
the value of the 5
cent pieces in your piggy bank....is it meaningful?

You also need another rule that you need to be able to buy about $10,000 worth 
of whatever the
share is without moving the price or waiting around for weeks.

----------
From: Mike Hudson <mikehudson@clear.net.nz>
To: Sharechat <sharechat@sharechat.co.nz>
Subject: Re: [sharechat] Picks for 2001
Date: Sunday, 23 December 2001 22:21

Phil Robinson wrote

"On a previous subject who by chance won the 2001 competition, Applefields is 
it? Now who picked
Applefields, does anyone know?"

It ain't over until the fat lady sings although I can hear her warming up in 
the wings. The
competition runs until 31st December so there are four trading days left during 
which time APF
could drop towards its NTA of 0.6 cents per share; it would need to lose about 
10 cents for Chris
Castle to be knocked off his number one perch.

Cheers
Mike H


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