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Re: [sharechat] Why neglect NZ stocks? it makes no sense

From: "Michael Gore" <>
Date: Thu, 30 Mar 2000 12:15:54 +1200

Speaking personally I totally agree with Nick but the issue it seems to me is not so much the validity of Nick's points but more a question of just what sharechat is about.  Most writers in this forum seem to be trading rather than long term investing or seeking dividend returns and the response to Nick's post seems to reflect that.  Just my 2 cents.  regards michael
---- Original Message -----
From: nick
Sent: Thursday, March 30, 2000 5:58 AM
Subject: [sharechat] Why neglect NZ stocks? it makes no sense

        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



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