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[sharechat] THL

From: "Peter" <>
Date: Wed, 27 Feb 2002 20:54:37 +1300

Hi Dick. Haven't heard from you for a while. Good to see you are 
still keeping in touch.

I cut my losses with THL last March. The response I got from Dennis 
was pretty uninspiring.

Sad that so much can go wrong. Little consolation to those affected 
but at least the Olympics weren't to blame this time.

In that letter to Dennis I did say that THL would beconme the pariah 
of the NZ market.

Maybe they will but no doubt a new lot of punters will join the fray 
thinking that at $1 they are cheap. Only time will tell but with such 
a high fixed expense base ongoing declining revenues is the last 
thing they want. 

If break even 'at best' (Dennis's words) is expected for the full 
year you can imagine what the loss for the second half year will be.

What is scary is a remarkable similarity between the AIRVB and THL 
charts over the last three years - especially if you lay the AIR 
chart starting from June 1999 over the THL chart starting Dec 1999. 

Strong correlation between the two. Does this mean that THL will head 
to 30/40 cents over the next six months? 



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