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[sharechat] FFS Shareholders - (& fund managers)

From: "Peter Maiden" <>
Date: Thu, 26 Oct 2000 13:49:11 +1300

Malcolm - I note the comments in your response. I did have a brief chat with 
somebody who works for a fund manager yesterday. As there was an internet 
connection (courtesy of Ericson) in the Quantas Lounge in Auckland I gave him a 
quick tour of the Sharechat forum so he could get some feedback as to how 
others see them.

Ben - he was most impressed with your response to Malcolm's note and could not 
really argue against the points you raised. I did invite him to respond through 
this forum - hopefully he will.

I still stand by my views and Ben I agree with a lot of what you said.

A quote from InvestorWeb ( commentator, Geoffrey Transom, 
made today I couldn't resist -

"I told you yesterday that the 'spend lots of dough on ads, but not much 
thought on stock selection' fund managers who love News Corp so, wouldn't let 
it fall under $20 - although they waited until right at the close before doing 
so. Today they won't have much of a choice in the early going, but I've little 
doubt that by the close a little more pensioners' savings will have been sent 
to the gates of Money Heaven, and will pass through those gates the next time 
he US markets cracks."    --  so far today down to near $19

The full commentary (very insightful) on yesterdays events in Oz and overnight 
events in the USA is (you need to register but its free).

Pretty sorry picture coming up tonight by the looks of it on the Nasdaq, 
especially if Cisco goes below $50. A spill over to NZ no doubt?

Cisco is a stock where American fund managers have large holdings. They have 
continued to buy into this company without any consideration to what the value 
of the company might be - in case they get out performed by other funds etc.

Let's see what happens


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