Forum Archive Index - October 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Macdunk,

A couple more questions if I may 

> 
> 
>STU    I deal in real life with this company this has been one of my
>best - happy to hold for now
>
>

Always good to get feedback at the customer level.   How do STU 
compare with, say, Fletcher Steel?

>
> 
>WRI    This is one of my best picks of eighteen months ago, 
>however I sold them last week.   I may have been a bit
>premature in selling them but farming is on the way down,
>although I expect their wool division to do well
> 
>

I haven't done quite as well as you out of WRI, as I've really only 
held a meaningful position in WRI for a few months.  Still its nice 
to be sitting on a gain of some 30%.  If ever there was evidence that 
you should never fall in or out of love with a share this is it.

I entered the year with WRI on my 'hate' list, thinking I would 
definitely sell off my meagre shareholding into any rally.  But after 
I looked at the improving fundamentals and the yield, even despite 
any coming farming downturn, I thought

"Hell, why am I selling", and bought a lot more!

I'm continuing to hold, because although farming is on the way down I 
don't think it will go down as far and as fast as in previous down 
cycles.  Still don't take this as any criticisim of you selling out.

Remember, no-one ever went broke taking a good profit!

>
>
>POA    Two words,  Americas Cup.   Will history repeat its self?  
>Look what happened the last time, I will exit myself
>from this share at the end of January
>
>

What did happen last time?   Did the share price tank?  I'm intrigued 
that recreational boating could make so much difference to a share 
price.  Does POA benefit from the rentals obtained from all those 
sheds that form the America's cup village?

Interestingly the Port of Lyttelton has quite the opposite attitude 
to recreational boaters.  They treated them as an annoyance and 
kicked them out of the harbour!

>
> 
>WKL    You got that one mixed up with Wakefield Hospital Snoopy.   I
>had felt inclined to buy but never did.
> 
>

Ah, I see WKL is Williams and Kettle.  Another share that 
usually doesn't get much of a mention on this forum.  How do you see 
WKL coping with the rural downturn better than WRI?


SNOOPY



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