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[sharechat] Excellent material for LTI series: WAM

From: "G Stolwyk" <>
Date: Sat, 27 Oct 2001 12:51:38 +1300

This is a rare case where four main contributors who took part in a discussion on WAM were all proved to be right!
The case is so unique as fundamentals, charts and the result of an overhang in shares all played a part.
On Oct.10, 2001, the share price of WAM was $2.50. Following main posts were listed:
Peter ( Excellent summary of fundamentals ):
Nick ( Bought in @ $2.50 and thought that it was good buying at that low level ):  
Phaedrus ( Gives the advice: Wait with buying till we get another uptrend! - Subsequently the price fell to $ 2.35 ):
Culley ( Gave warning that an overhang of shares was causing problems to WAM's share price - a completely new and most important contribution ):  
On 27 Oct. 2001, 8.3 mill. shares were sold and the price rose from $ 2.47 to $ 2.62.
Prospective investors will be interested in these posts. Investors will need to be aware of outcomes of  investment in companies with an overhang of shares. However, once the overhang disappears, there can be some excellent rise in share prices. This may be followed by a takeover.
All this is interesting stuff to the investor who is working at the coal face!
NB: Phaedrus' post was in answer to Nick's post, dated Oct 11, time 12.37. I have listed a different post of Nick as this gave the more fundamental reasons why he invested. Please note that WAM's share price may or may not continue to rise.

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