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RE: [sharechat] share price half the nta!

From:	Edwin Sutherland <Edwin.Sutherland@directbroking.co.nz>
Date:	Sun, 17 Oct 1999 12:17:22 +1300

NTA will surely only add value if the NT Assets are valued based on their
earning power. If you are looking at liquidating a company - this is the
consideration. (BRY more so than WRI ?)

Simply I see NTA can only be a positive if Stocks trade at a significant
discount to NTA and the Assets are either independently of good PE or can be
mostly or all be added to other Asset groups to combine to create improved
PE somewhere else.

This situation can be created by - Bad P.R. (BRY ?) Bad management (WRI ?).

(? some suggestions I have heard)

Edwin Sutherland 



-----Original Message-----
From: Nigel Varey [mailto:nigelv@clear.net.nz]
Sent: Sunday, October 17, 1999 9:19 AM
To: sharechat@sharechat.co.nz
Subject: [sharechat] share price half the nta!


bil & wrightson are both the same price & both trading at 50 % of their net
tangible assets, which is going to double first?

nigel


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