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[sharechat] Investment Statements

From: Marilyn Munroe <>
Date: Tue, 31 Oct 2000 10:27:22 +1300

I have just been listening to a radio interview by Kim Hill of Murray Weatherston         (who he?), discussing how investment statements are supplanting prospectuses.

The reason for this change is the argument that the general public, neither read, or understands prospectuses, and that a more user friendly form of document is required.

Hey! I read prospectuses. I am not able to analyze them with the same precision as some, but I appreciate the greater level of disclosure required, and find the material contracts section of the prospectus usually the most illuminating.

Most investment statements state that a prospectus is available on application. When I ask my share broker for the prospectus for a public issue he gets all vague and says things like.
"I'll have a look around the office and see if I can find one"
Needless to say I have yet to receive one.

Also a retrograde step is the lack of forecasts in prospectuses and  investment statements. While forecasts can be tricky beasts, and it would be foolish to accept them as gospel, they provide a useful reality check on the mind set of the promoters.

If the investment has a steady set of  historical financial results, but the forecasts are wildly optimistic without a sound reason, then you know that that the promoters are delusion beings.

Boop-boop -de-do Marilyn


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