Forum Archive Index - February 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

 

Hugh,

 

Let us talk about the fourth estate. How does it serve the sharemarket?

 

H: " Sloppy " and " mediocre " are the key words here!

Years ago, I asked the " NZ Herald " to use the term  P/E instead of earnings yield in the market tables. They did!

 

G: And you contacted Dublin ( HO of Independent Newspapers ) about problems with the div. yield and the P/E ?

 

H: I found out that they rewrote the computer program and I got different results!

 

I did get an answer from the now CEO, mr Sanders. I was well treated; he devoted quite a lot of space on the matters I raised. They had updated the div.yield calculation but I was still not satisfied.

 

G: Come to think of it, all data in a table refer to the past; I suppose you don't need the tables any more?

 

H: You mean to say that I don't need the 'Herald' any more? The story does not end there! A few years ago, I asked them to devote more space to Australian companies. I suggested that the paper carry brief news items. Nothing happened.

 

They have just announced that the financial section will have more Australian items. 

 

There still is too much space wasted on insignificant companies; are the writers being paid per line?

Some improvement, but too late as far as I am concerned!

 

G: They must have found out that NZdrs are investing more in Australia! 

 

The ability to perceive outcomes is low: business is too preoccupied with immediate results. This is easier to do as it requires less skill! 

As a consequence, too much time is wasted trying to regain loyalty.

 

H: I get my results and news from my computer, I use it to study companies, there is little need to use data from a newspaper!

The teletext is important and I can watch NZ trading; they also devote space to overseas companies and investment trusts. 

 

G: I suppose, the Weekend Herald is quite good. Brian Gaynor's articles are superb! 

 

H: They are! Now, what about business news on TV?

I like " Telstra Business " @6.30 am.: I am asleep at that time. I don't think that I'll miss much, do I?

There is little else, is there?

 

G: Summary: Computers ' jump' time zones and real time financial news is constantly being updated.

 

Newspapers impart yesterday's news and therefore need to ensure that readers want it. 

 

The 'Sharechat' s home page has links to all relevant updated business news!  

 

Gerry