Forum Archive Index - December 2001

["hugh webber" <hugh.webber@clear.net.nz>]

Fascinating. On the other hand you could read it as a sign of hope and of 
intelligent life. Buffett
avoids IPO's for reasons detailed in, for example Buffettology by Mary Buffet. 
Despite some strong
patronage of my broker at J B Were over the year I wasn't even offered any 
Briscoes although I must
say I never expressed any interest.
I only participate in sure things e.g. the first tranche of Telstra which paid 
for this PC, colour
printer, scanner, Internet hook-up.
I haven't studied Briscoes so I can't really comment other than to say that the 
retail field seems
to be somewhat crowded with Briscoes, K Mart, Farmers, Warehouse all elbowing 
each other plus some
locally strong department stores and I can't really see strong growth even if 
it was a successful
IPO by restricting the share supply. Most IPO's in NZ in recent years have been 
failures.
How many shares were typical small investors restricted to?
I should imagine the answer tells us we're really talking about petty cash even 
if  Mum, Dad and
the 4 kids participated so the real question is, is Briscoes a good buy after 
the IPO went up 42%?
ummm,errrrr,ahhhh.....

----------
> From: Jared Honore <nzeaglei@hotmail.com>
> To: sharechat@sharechat.co.nz
> Subject: [sharechat] Briscoes
> Date: Friday, 14 December 2001 20:53
> 
> hi.
> 
> this chat site is basically DEAD. today we had the only REAL IPO of the 
> year, and how many posts did we have on it? not even ONE. pathetic. for 
> those of you lurking readers out there, why not take the plunge and say 
> something. or go over to http://www.sharetrader.co.nz where there is some 
> action, at least. I used to like this site far and away, but its like a 
> ghost town now. oh well....i will kick something off.
> 
> I bought BGR at 1.42 today. can you all believe that $10m got traded in that 
> stock alone! that is normally about 10% of the average daily NZSE turnover. 
> there is some interest there, thats for sure. i dont know if it was a good 
> idea to buy, but what i am hoping is that in the Weekend Herald and other 
> weekend papers, all the cliched mums and dads will read about how well it 
> did today, and call their brokers on monday. wishful thinking maybe, but 
> then again....
> 
> cheers
> jared
> 
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