Forum Archive Index - January 2002

["ryanrite" <ryanrite@xtra.co.nz>]

Remember just a few weeks ago I was saying CEY (aus) as a coal company was
looking good with good management and long contracts. Well just look at
there share price now??
Athol
----- Original Message -----
From: <tennyson@caverock.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, January 13, 2002 4:18 AM
Subject: Re: [sharechat] What's Your Favourite Share


> Hi Dick,
>
> Quite a challenge.  So you want to me find:
>
> 1/ quality shares that have made very pleasing investments. What
> share do you own that you like the most?
>
> 2/ one we wouldn't like to part with, and one  we are always tempted
> to buy more of when the price looks right something we enjoy owning,
> an investment that has been satisfyingly successful.
>
> My favourite share is somewhat amazingly , a share that I do not
> recall being discussed on sharechat before - ever!   It is a share
> that has a long track record of success- decades in fact.  It is a
> share that despite being in the commodity market, knows the
> importance of being a low cost producer.   It is a share that has a
> long term record of growth and a stable or an ever increasing
> dividend since its inception, even through 'tough times'.  For income
> investors I think that last fact is especially important.   It is
> even listed on the New Zealand sharemarket, (although is an
> Australian share by domicile).
>
> The $A share price over the last 15 years at 31st of March has been:
>
> 1985  $5.94
> 1986  $6.28
> 1987 $11.10
> 1988  $7.60
> 1989  $7.60
> 1990  $9.66
> 1991 $11.10
> 1992 $13.42
> 1993 $14.68
> 1994 $16.48
> 1995 $17.36
> 1996 $18.25
> 1997 $17.00
> 1998 $15.44
> 1999 $13.55
> 2000 $17.84
> 2001 $19.60
>
> For those who haven't figured out what I am talking about yet, the
> share is "BHP Billiton".
>
> For those that look in the paper today and see that the share price
> has collapsed, not so!   There has effectively been a 1:1 bonus issue
> since 31st March.   Furthermore my figures do not include the 1:10
> bonus issues made on 19th May 1995 and 28th April 1989, so the bare
> share price numbers understate the capital appreciation by 20% or
> so, and we haven't even talked about the steady dividend stream!
>
> In a nutshell the reason I like BHP is management's ability to do
> well in a difficult sector over long periods, and to keep the
> shareholder income up through cyclical downturns.
>
> I have held BHP for many years before I became interested in 'Focus
> Investing'.   BHP doesn't qualify as a 'focus investment' company
> (nothing in the commodity business does).   But BHP has recently
> crossed some of the FIG hurdles (ROE now over 18% for instance) and
> it is now the second largest commodity producer in the minerals
> sector worldwide.
>
> From my viewpoint, BHP is a company that every "buy and hold"
> investor should have as a core part of their portfolio.  SNOOPY
>
>
>
>
>
> ---------------------------------
> Message sent by Snoopy
> e-mail  tennyson@caverock.net.nz
> on Pegasus Mail version 2.55
> ----------------------------------
> "Sometimes to see the wood from the trees,
> you have to cut down all the trees."
>
>
>
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