Forum Archive Index - February 2002

["Kuripapango Investments Limited" <jmcvmc1955@free.net.nz>]

I'm more of a long term investor rather than a trader, and have held shares in TWR for a year or so now (In wich time they have done nothing)  after reading their annual report have thought about getting out of them !! (I know I'm a slow reader)  My thinking is twofold

1)  A good chunk of shareholders funds is represented by " excess of directors valuation over net assets of subs"  (Goodwill in my lingo)   and

2)  $17M of their earnings (some 20%-25%) was derived from "increase in directors valuation......." (or somthing to that effect)   (In effect an internal revaluation of goodwill ) 

This is my first post to this forum (have lingered, in the background, rewiewing others comments though, for a couple of months now)   but would appreciate advise (give you 3 options)

a) Was I a mug buying these shares in 1st place ??

b) Am I a mug to sell them now ??

c) Am I wrong to tell you guys my thoughts prior to actually selling the shares ??

 

Thanks

John