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| From: | "Graeme & Paula Richardson" <chemist@actrix.gen.nz> | 
| Date: | Sun, 11 May 2003 21:01:56 +1200 | 
| Why are kiwis so keen to provide debt finance for companies 
through debenture bonds that offer average rates of return for the 
risk involved, and which also offer the company concerned tax favorable 
sources of finance, when they will not back companies and buy equity stocks? 
Shares for several companies have quietly increased over the past year e.g. FBU, 
HBY, SKC, CEN, HLG, and many are today offering excellent yields. It seems 
that a fear of short term stock 'losses' are forcing kiwis into trading 
potentially risky debentures with companies that seemingly cannot attract 
shareholder funds. Perhaps we are not realising that NZ shares today are by 
world standards very cheap. Graeme Richardson | 
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