Forum Archive Index - February 2001

["nick" <acummin@es.co.nz>]

    Interesting  viewpoints on Brierleys, what shines through clearly
is the preoccupation with the past. I say forget about the past and
look to the future.  Ultimatly the share price will be decided by the value
of its investments  and the ability of the new managment team to
unlock some of that value.
            One chatter stated that all that were left were unprofitable
 commodity type investments, i actually see the current portfolio
as rather promising, and together  the value of the present portfolio
 is far greater than the currnet share price would suggest.
      The three main investments , air new zealand, thistle hotels and
james hardie industries are all very good buisnesses in their own right.
The value of thistle hotels is now beginning to be realised in the uk
and is widely recognised as having been undervalued. Air new
zealand are currently on many brokers buy lists, while james hardie
  is currently rated a long term buy by j.b.were who rate its valuation at
 5.39 a share, way above its current price.
          These three companies provide the backbone of Brierleys portfolio
and are all looking very good moving forward. Cedenco foods is another
 interesting company in the portfolio,  and is expected to be sold soon
and wikll have proved a good investment for Brieleys.
             The company is shortly to halve the number of shares on issue,
which should keep the company in the news. Looks like there could be
 some interesting times ahead for this company.  What is ultimatly going to
determine the share price of Brierleys is the strengths of its assets, not
its chequered history.   Time to leave the past behind and look to the
future

  nick


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