Forum Archive Index - August 2001

["Dick O'Connor" <callme_nz@hotmail.com>]

Peter,  Many thanks for taking the trouble to have a look at the chart. 
Because of my own previous experience in trying a bit of charting and 
finding it no help at all, I became very sceptical, but I have to admit you 
and Phadreus have caused me to have second thoughts. Times have moved on, we 
now have charts on the internet, and it costs nothing to at least have a 
look at them.

Your remarks confirm that there is often a corelation between fundamental 
analysis (which I believe in) and the technical side. I realise from past 
posts you have made that you also pay considerable attention to 
fundamentals.

Anyway re WHS: The Forbes article was a great plug for the company, although 
overseas' analysts have often been overly optimistic at times about  NZ 
shares.  Nonetheless, the ROE (which is one of Buffett's most important 
measures) last year of 40.1% was a really impressive performance.

Where to from here? Well, I think there are still one or two ifs and buts 
that need to be answered. When we warned earlier that full year profit was 
likely to be down mainly because of the Au situation, I calculated from what 
was said that there might be a fall of roughly 10% from last year's $70m. I 
think I'd stick with a figure near that and wait with considerable interest 
for the profit announcement in just over three weeks. Cheers

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