Forum Archive Index - March 2000

[richard hermans <r.m.hermans@xtra.co.nz>]

nick wrote:
> 
>         I have been suprised that even many on this forum
> have begun to buy most of their stocks from markets overseas,
> many seem to have given up on the NZ market.
>       To me this makes little sense and in some ways looks like herd
> mentality which we all know is not the way to make money in stocks.
>              The media etc are really talking down  the NZ market this
> year,
> prices are now looking very very attractive so why not buy?.
>           Its irrational yet tempting to look at the better performing
> markets and
>  and want to jump on the bandwagon , However if you think rationally
> and
> avoid the hype you will realise several things.
> 
>    1. Many overseas markets are now fully priced and by entering now
>       the golden times may of been missed
>    2. At this moment NZ has some outstanding buys based on P.E etc
>    3. Nz stocks cannot really go lower (unless worldwide crash) as the
> companies
>       will become subject to takeover activity.
>    4.   There is a trend for NZ stocks to list on overseas markets,
> this continuing
> trend will expose our stocks to more buying and prices will rise,
>     5. Most importantly FUNDAMENTALS DO COUNT  , the bubble internet
> stock
> bonanza will only last so long, what really counts is bottom line.
> Earnings per
> share etc are far more relevent than hype, and the Nz market must be
> one of the least
> hyped and under priced in the world, but times will change and we will
> one day have our
> place in the sun
> 
>   nick
> 
Nick ,Im pleased to hear your sentiments & agree in supporting nz etc;
would be interested in some of your favoured "best buy" opinions at this
time if you care to share that info???Regards Margie

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