Forum Archive Index - May 2002

["John Wedde" <John.Wedde@weltec.ac.nz>]

Hi Jefley,

No offence taken.

I'm interested however in how everybody seems to knock this stock but
nobody ever gives any Fundamentalist reasoning for this. 

Technically, I'm sure Phaedrus would agree, there is not a lot you can
say about Spectrum because of its illiquidity. From a Fundamental point
of view however, its subsidiary Kinetiq seems to be at the cutting edge.
Remember NZ was one of the first countries to deregulate its electricity
sector and Kinetiq cut their teeth here. They seem subsequently to have
made good inroads into the Canadian and American markets with their
energy management software, although we havn't heard any news recently.
Their last financial report [6 months to December 2001] actually showed
a REAL net profit, ie AFTER, not before ITDA!  So why does the share
always get knocked in forums such as this?

I know all about ramping, but are there not also people out there who
do the opposite to try and move the price of a share downwards in order
to get in at a good low price? Jefley, I'm not suggesting this is your
motive here!

As a Contrarian I still see Spectrum as a company with considerable
potential. Of course it's speculative, and I'm prepared to loose all I
have invested if my hunches about this stock prove wrong.

And speaking of dogs, what about "The Dogs Of The Dow"? As a contrarian
investment strategy I'm sure this one has proved very profitable for
many.

Cheers,
John 

  

>>> jefley@xtra.co.nz Tuesday, 21 May 2002 9:54:50 a.m. >>>
Below my bottom-drawer of 'verging on reluctant investments', I have a

kennel for the dogs.  House rule is no more than three dogs at a time. 
But 
I am aware that this is a very poor (make that extremely poor)
investment 
strategy -- sick dogs should be put down.

I'm getting (marginally) better at redeeming bad decisions before they

become too expensive or hang around for so long that they start to
smell, 
but sometimes the loss seems too great to deal with -- mainly because I

watched the slide like a rabbit paralysed by oncoming headlights.

Are you sure that SPE is worth keeping?  Isn't there anything else that

strikes you as a better investment?  Hanging on to a mistake for a
month 
seems reasonable, but tying up the money for years is bad practice.  --
I 
probably qualify as an expert in bad practice so please don't be
offended 
if this sounds pompous ...

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