Forum Archive Index - January 2003

["Maria Smith" <smith@ps.gen.nz>]

When you say that you are down 15% did you take into account the divestment
of BHP Steel and the free shares that you will have received?

Regards Greg


-----Original Message-----
From: tennyson@caverock.net.nz <tennyson@caverock.net.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Thursday, January 23, 2003 10:31 PM
Subject: Re: [sharechat] What's your favourite Australian share?


Hi ryanrite and Winner69,

>
>winner wrote:
>>
>>Snoopy
>>
>>Mate, presume you views on BHP Billiton have not changed?
>>
>>
>Is that the BHP that lost a billion dollars??
>Snoopy???
>
>

You have a long memory Winner69, and so does ryanrite!   I still like
BHP Billiton  (I think it was my entry in Dicks pick your favourite
share thread a year ago), but it is not my absolute favourite this
time around.   Stack it up against any managed diversified
resource fund and I think BHP Billiton still shapes up pretty well
though.

But there is that matter of the billion dollar loss within the last
five years that spoils the unbroken string of higher profits I
alluded to in my qualifying criteria.  However, even that loss didn't
interrupt the cashflow of the company.   So there was never any
question the dividend would be cut, and it wasn't!  There aren't many
companies down under that can shrug off a billion dollar loss, but
BHP is one of them.

I've been following the sudden departure of Chief Executive Brian
Gilbertson in the news.  Apparently he's been off tramping in the
jungles of Tasmania looking for the Tasmanian devil.  I wonder if
there is any truth in the rumour that the BHP board suggested if he
take a mirror along in his kit he just might see one?  I'm pleased
Gilbertson's gone as I have seen too many companies wrecked by
grandiose plans designed to boost the salaries of the senior
executives by increasing the size of the business they manage,
whether it is for the good of the shareholders or not.

Methinks it is time to bed in the 'BHP' 'Billiton' marriage first!

All told I'm down about 15% on my investment in BHP Billiton over the
last year.  Probably 25% if you take the currency loss into account
too.  But such is the swings and roundabouts of a growth share.  I'm
happy just to go on just holding it, knowing that those guys in
BHP senior management are probably far better qualified to know what
sectors of the resource market I should be in than I am!

SNOOPY



---------------------------------
Message sent by Snoopy
e-mail  tennyson@caverock.net.nz
on Pegasus Mail version 2.55
----------------------------------
"Dogs have big tongues, so you can bet they don't
bite them by accident"

----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/


----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/