I know the question was not addressed to me,
however my answer would be, in Aus at present, the repco float, and in
NZ FPA, its not logical but its what the market tends to do[from memory
sky city was the last one] go up when a share gets "affordable".
The short history is FPA $15.00 wed, and an
announcement is made about a 4 for 1 share split the price goes to 15.20
on thur, I couldn't believe it when it went to 15.00 on fri and I brought[at
15.02 actually], FPA is fairly priced in my opinion at 15.20, and with their
recent acquisitions of farmers and pascoes are set for expansion next year,
and a $3.80 share is more "affordable" than a $15.20 share.[illogical but
true, I'm banking on it].
I know it sounds like in drawing a long bow
but with things happening like WHS reporting increased sales , the price
of gold starting to soften there is still steam, and confidence in
manufacturing and retail.
I have 2 accounts now with the ASB, both
CMA's one NZ one A$, however do tend to bounce money back and forth, if the
perceived opportunity looks worth while.
Believe me I know all that glitters is not
gold.
Many many thanks for help given on the
x/rate issue, I'm still digesting the replies.
Allan
----- Original Message -----
Sent: Saturday, November 08, 2003 1:49
PM
Subject: Re: Re: [sharechat] A$ to NZ$
exchange rates
<<<<<<<<<While I am not sure of
the tax implications of doing it, operating an Australian bank account for ASX
trades seems a logical idea. To my way of thinking our currency is
overvalued at present, so converting some to Aus$'s and putting it in a bank
there provides opportunities of FX gains if our currency drops relative
to Aus. You also avoid the problem of having to convert each time you
make a trade on ASX - effectively providing two portfolios, one in Australia
and one in New Zealand. This would also enable you to time currency
repatriation to take best advantage of prevailing exchange
rates.>>>>>>>>
Hi MIxtrader I like your idea
of 2 portfolios as you suggest, certainly simplifies / solves a lot of
problems . my question's are, In what would you invest and whom do you
use to do trades. TIA
Terry
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