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Re: [sharechat] WAM - By The Way


From: "nick" <acummin@es.co.nz>
Date: Mon, 26 Feb 2001 22:12:42 +1300


              Wise words spoken below!!.
      This company trades on a high p.e, has had rave reviews lately,
darling of the analysts etc. In short , overbought.  The yield isnt
particularly
attractive, and for a company  with so called  "few competitors, alarm bells
ring
when they start losing contracts.
            Be wary of seeing the new lower price as a bargain, they have
had a very
good run up,  but imho should not be considered unless dipping to below 4.00
  nick

> ##############################################################
> By the way, I do think that investors do have to be just a little bit more
> careful with information risk on WAM.
>
> The loss of the contract may not appear material but it is up to the
market
> and shareholders to judge and act on ... many a company has gone down the
> slippery slope from what initially appears to be a small (immaterial)
issue.
>   WAM should not treat shareholders like a bunch of fools ...
>
> I seem to recall that THL thought the market was over-reacting to its
first
> profit hiccup 6 months ago ....
>
> WAM is a stock trading on high expectations (higher than market PE and
lower
> than market yield) and expanding offshore for growth. It cannot affords to
> disappoint. Will investors trust the company to keep them informed of
> offshore developments ..properly now?
>
> From up high, the multitude are but peasants ... let WAM lead yee to the
> promised land (I think that's what the company is saying to the market).
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