Love it. This man is no muppet.
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The winning Trifecta for taxpayers has come in. Yeap, investors have been duped three times in a row !!
Anyone up for a fourth belting next year with Genisis ?
When you look at the PE Ratio's the power companies were flaoted on in a no growth industry I struggle to understand how experienced investors could allow themselves to be so silly :mellow:
I posted my negative opinion many times in each respective power company thread. But this Air N.Z. one surprised me, I thought it would be onward and upward from $1.65. Fortunatly I have a policy of not investing in Airlines.
Like I wrote earlier.. the govt on behalf of the tax payer have done very well. Well done JK and Bill. Anyone paying 1.65 for Air NZ should be happy enough because that is what they obviously wanted. No need to complain after the event. Everyone was well informed same goes with the power companies. Had some Meridian but sold out day 2 or 3.
http://www.stuff.co.nz/business/indu...-post-selldown
Seriously, welcome to shares, sometimes you feel sick, other times you feel great, surely brokers know as well as others this is reality of open markets! You shouldnt buy for the short term, maybe it will teach them a lesson! NO point letting your day turn to crap and being angry for a few % here and there. Anyway why buy into such a high cost, competative industry anyway when there is shares like SUM. Muppets.
Have a look across the board today. Mostly down following last night offshore markets. Why should AIR be exempt from that.
Muppets indeed....this is the highest SP its been in five years...why would anyone with half a brain buy at the top of the top of the market. Good on the Govt for maximizing the return for the shares however. Should be some soul searching going on in brokerage and instos that bought in. Its not a highly liquid stock in the first place and what were they thinking would happen when 20% gets dumped on the market.
Very true, Zaphod.
Anyone going for the AIR placement would/should be well aware of the risks around the stock. Not too many new mums and dads - detestable term! - in this one!
giday to continue ballers thread ...and call me old fashioned...but I heard yonks ago that every airline (other than those govt owned i.e. emirates,singapore,areoflot et al) go broke.
push up and sell..., good strategy the govt haha
Makes perfect sense to me STC
Thank you for posting
Thanks Sparky - Not that I have followed the Freelancer IPO but I noticed that they appeared to select the institutions that would get shares and gave the other institutions nothing. Not necessarily a 'fair' way to do it but the Govt/Treasury should have had an indication from the previous 2 floats which instos were supporting the floats and which were just stagging it.
It does seem that they were focused on just getting the highest price, wheras they probably could have been a bit more tricky and still got the same result.
Thanks Sparky - Not that I have followed the Freelancer IPO but I noticed that they appeared to select the institutions that would get shares and gave the other institutions nothing. Not necessarily a 'fair' way to do it but the Govt/Treasury should have had an indication from the previous 2 floats which instos were supporting the floats and which were just stagging it.
It does seem that they were focused on just getting the highest price, wheras they probably could have been a bit more tricky and still got the same result.
Good to hear from you, STC.
Reaffirms everything about Treasury which I have had experience with and heard about.
Really, Treasury are a bunch of pimpled faced kids let loose with the country's economic destiny and applying an efficient free market 'tried and failed' philosophy on everything.
I still remember one of the top NZ companies locating one of its plants (employing over 200 people) in Australia after Treasury advised the government that NZ government should not match the miserable $15m R&D funding promised by the Queensland government. Instead the idiots in there were busy recommending cutting back on government services and we saw one of the consequences with the Pike River tragedy.
One of the overseas bankers I met some years ago said she was horrified to meet the sort of staff at Treasury who are 'wet behind the ears' making policy decisions.
Arrogant and ignorant - that's how she summed them up.
Dangerous combination!