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From: | "tennyson@caverock.net.nz" <tennyson@caverock.net.nz> |
Date: | Wed, 28 May 2003 19:55:54 +1200 |
Hi Macdunk, > > Snoopy mentioned steel and tube in a recent post. Now there is a > company that is run by guys that stick to there knitting. Not for > them to take shareholder funds and invest, or should I say speculate > in pie in the sky stupidity. > Yes, I think many investors might take heed of how those seemingly boring companies like Steel & Tube do things. Focus on what you do and do it well. I think there is a lesson in there somewhere. I wouldn't totally write off Sky TV though ;-) > >The pity is I sold out too quick, > I presumed the building boom would be over by now. > Did you? It's always hard to pick an absolute top. Steel and Tube have a buyback program in place at the moment. Given that they have hardly bought back any of the eight million or so shares they said they would buy back, perhaps STU management perceive the share is indeed fully valued? Frankly I would be surprised if the STU share price was as high as $3.44 ( is today's closing price an all time high?) in two to three years time. Then again I could be wrong. However, I don't think I am wrong in saying that buying into STU via majority shareholder Onesteel (ASX:OST) is a cheaper option than buying STU directly. SNOOPY -- Message sent by Snoopy on Pegasus Mail version 4.02 ---------------------------------- "You can tell me I'm wrong twice, but that still only makes me wrong once." ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/chat/forum/
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