After taking a punt at $2.13 yesterday I did my own valuation at home and came to something like $1.15 (very un-scientific). Spooked me enough to put all my shares on the block pre-opening.
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After taking a punt at $2.13 yesterday I did my own valuation at home and came to something like $1.15 (very un-scientific). Spooked me enough to put all my shares on the block pre-opening.
have to remember all these regulators are making utilities in NZ now not traditional utilities but high risk spec plays , maybe people could have a case against financial planners who dont understand this
The new car I bought with my Chorus share just after I was given them Is sitting outside, a bit dusty, a few miles on the clock but a lot healthier than Chorus. I did suggest, very early on in the peice, that Chorus would struggle, based on the view of a relative who was a senior engineer in that area for his working life.
If you go to the Companies site and check the share holding history: http://www.business.govt.nz/companies/app/ui/pages/companies/3454251/shareholdings
ACC and the Govt super fund (amongst others) bailed out (all? some of their shares?) on 28th Sept 2012. According to the NZX interactive chart that day's average was $3.25 a share.
I do hope that a number of Kiwi Saver companies are still holding. Particularly the ones who have anti-Chorus people as investors!
Like yourself I'm both new to the NZX and ASX markets and also invested following several of MorningStar's recommendations. And on every one I'm losing money - quite serious money now too. My sad experiences in the NZX certainly doesn't encourage me to move any more funds to NZ! No wonder Kiwi's stick to investment properties rather than the NZX.
^I think the issue is with following morningstar's recommendations, not with the NZX - just because they show up on ASB Securities does not mean you should buy on their recommendations alone! Read other/more reputable analysts recommendations and do your own research. (something i am guilty of not always following but haven't followed morningstar/been stung as yet!)
IMHO ASX is more risky than NZX for newbies. My first lesson was learnt in ASX years ago. The tuition fee I paid was 20k NZD...
"love it when sound companies have a huge price movement on fear and unknown government decesions.
disc bought today $1.90 will continue to chase down if I have too $1.70 next buy $1.45 after that."
Failing to multiquote, but tumeric yes he did say he bought at $1.90
I've been wondering...
If Chorus is really backed into a corner, do they have to offer copper as an option? It'd be one way to ensure a high take up of UFB, and we've got a recent example of something similar with the digital switchover.
They'd just have to announce that a year after an area has UFB installed, copper would be switched off (or repurposed).
I remember years ago when TEL slashed their dividend ...that was the end of the world for most investors and the shareprice tanked ...all hell broke loose