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Re: [sharechat] WAM>>>>>>>

From: "Peter Maiden" <>
Date: Wed, 28 Mar 2001 06:41:03 +1200

Gerry - the WAM chsrt is at an interesting stage.
The sell off after the Auckland City Council contract announcements ( the contracts they didn't get - even though they didn't have most of them) has seen the price fall from $4.80 odd to a $3.67.
The $3.67 was at a key resistance level on both the 3 and 5 year charts if the long term strong upward trend was to be maintained.
The last few days has seen the price go up to $3.90- giving me some onfidence in predicting that the WAM price will continue it's long term upward trend. Does go through periods of volatility along the way though.
That short term volatility is likely to be caused by the stock not being glamourous. However over many years they have ground out a pretty impressive earnings record.
Over the last six years earnings growth has averaged 18% which is pretty similar to that which Baycorp has averaged. Waste Management does seem to be able to be consistently able to deliver earnings growth - no matter what trading conditions are.
As you have said in previous posts WAM seems well placed to benefit from their landfills in a year or so time.

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