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Re: [sharechat] Response to NIcks/Hugh view of the world.

From:	"nick" <helmett@xtra.co.nz>
Date:	Sun, 23 Jun 2002 15:39:47 +1200

The situation in NZ is an interesting one, its unusual for our market to be behaving so differently from our neighbours australia. The situation cannot last, we cannot exist in splendid isolation for long. Much of the money flowing into NZ is short term money seeking a safe haven. It isnt flowing in because our companies are better than elsewhere, and will soon leave once profits have been taken.

Personally for sometime i have been bemoaning the lack of bargains in our market and have stayed out.

There are good companies ie warehouse , sky city , auckland airport etc but right now they dont look cheap and are not worth giving up the advantages of cash for.

I think it could be time for a correction shortly, maybe 10-20% time will tell

Nick

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