Forum Archive Index - February 2002

["nick" <helmett@xtra.co.nz>]

       Looks very hard to find anything worth buying at the moment.

A year or two ago we had top quality stocks languishing at cheap prices,

ie Restaurant brands 1.00 , contact energy 2.50 auckland airport 2.50

Fletcher building 2.00, wrigtsons .45  Nufarm 3.50 the list goes on

     Now on the other hand its difficult to recommend anything with much confidence.

The global environment still looks very rocky, many predicting a forthcoming test of the sept lows

later this year (dow).

     New zealand prices no longer look cheap, warehouse and retail look fully priced for now,

the floundering stocks ie air NZ really do look dodgy while the rest have generally had a good run

since lows of sept it could well be that run is about to end.

     Im looking at F AND P healthcare, baycorp, trans rail at the moment, they may not be bargains yet but if the selling continues they could be the ones.  Its either that or go for the more risky smaller stocks like strathmore.

      All up im pretty well cashed up at the moment, GPG my only NZ stock,  looking at going into an asian fund (excluding japan) could be where the value is this year. Any comments?

 

 Nick