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15-03-2018, 08:29 PM
#641
Member
Originally Posted by percy
When doesnt he? And always with hindsight. In this latest ramble he flogs the old SCF horse again. Boring. But he was the first to " Stand Tall " , as he described himself, when he supported Alan Hubbard in the first days of the Provincial collapse. What has happened by the way to his Court actions vis a vis SCF? Deep pockets not so deep?
As already observed CBL red light went on when two promotors sold shares in April 2017 only a few hours after they came out of escrow. But where was Lee then? Reading FNZC research maybe.
BTW Mr Harris was "Young Entrepreneur of the Year" way back in 1986 or thereabouts.
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16-03-2018, 08:23 AM
#642
Originally Posted by Lola
When doesnt he? And always with hindsight. In this latest ramble he flogs the old SCF horse again. Boring. But he was the first to " Stand Tall " , as he described himself, when he supported Alan Hubbard in the first days of the Provincial collapse. What has happened by the way to his Court actions vis a vis SCF? Deep pockets not so deep?
As already observed CBL red light went on when two promotors sold shares in April 2017 only a few hours after they came out of escrow. But where was Lee then? Reading FNZC research maybe.
BTW Mr Harris was "Young Entrepreneur of the Year" way back in 1986 or thereabouts.
Directors often sell shares once out of escrow, they still held onto 90% of their holding and just under half of it all... how was that the red light?
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16-03-2018, 10:03 AM
#643
Member
Originally Posted by hardt
Directors often sell shares once out of escrow, they still held onto 90% of their holding and just under half of it all... how was that the red light?
Well ok maybe not a full on red light but a full on deep and bright orange one though. Plenty of examples....OHE, even NZX dyor
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16-03-2018, 10:06 AM
#644
Member
I think Lee is dead right. CBL directors should be in jail.
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16-03-2018, 10:13 AM
#645
Originally Posted by horus1
I think Lee is dead right. CBL directors should be in jail.
Lee is a charlatan who hopes our memories fade. But some of us remember ""There are some companies that are unarguably good - Marac, Strategic, St Laurence, South Canterbury and UDC." he said (Dont ask him about his Finance Company rating system which mysteriously disappeared during the GFC)
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16-03-2018, 10:22 AM
#646
Originally Posted by minimoke
Lee is a charlatan who hopes our memories fade. But some of us remember ""There are some companies that are unarguably good - Marac, Strategic, St Laurence, South Canterbury and UDC." he said (Dont ask him about his Finance Company rating system which mysteriously disappeared during the GFC)
Ah yes the famous rating system. I wonder how much money his clients lost during the GFC. He was heavy in promoting Finance Companies, I guess they did provide nice trail income and good brokerage......
Charlatan may be a bit far but misguided, and naive could be apt descriptions. I mean he did go and visit the finance companies so I am not calling him lazy when coming up with the rating system. Maybe too eager to believe. And to be fair he never did think Bridgecorp was a good investmen
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16-03-2018, 10:26 AM
#647
Member
Originally Posted by Lola
... But where was Lee then? Reading FNZC research maybe.
Lee lauds FNZC fairly regularly as an upstanding firm committed to research etc. (I am a happy client of theirs) But is it widely known that his son is the FNZC CEO now?
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16-03-2018, 10:31 AM
#648
It is near impossible to make sound investment decisions based on lies.
IQE.asx and nzx.Total lies.
BIG,asx Cash flow lies.
RFG.asx lies.
CBL.asx and nzx.Total lies.
TGH and MPG.For fear of being sued.No comment.
NZ Finance companies including Dominion,total lies or incompetence.[FPH and UDC were sound].
Last edited by percy; 16-03-2018 at 10:34 AM.
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16-03-2018, 10:33 AM
#649
Originally Posted by gbogo
Lee lauds FNZC fairly regularly as an upstanding firm committed to research etc. (I am a happy client of theirs) But is it widely known that his son is the FNZC CEO now?
I find NZFC's research the best.
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16-03-2018, 10:34 AM
#650
Originally Posted by minimoke
Lee is a charlatan who hopes our memories fade.
...
charlatan ˈʃɑːlət(ə)n noun a person falsely claiming to have a special knowledge or skill.
Not sure this is a fair comment.
I think his advise on portfolio management is sound. His recommendations on particular stocks are - as everybody else's - sometimes right and sometimes wrong. I made some money following his advise, and I lost some as well (CBL included). However - I have never heard him claiming that he is always right or that he has a special skill in identifying winners.
It might be a fair discussion (but not for this thread) on whether he (or brokers / analysts in general) do add value, and I think the answer is "it depends". If you use their skills in an appropriate way and know how to live with uncertainty, than I think he (and others) do add in many cases value. If you use them however just as "oracle", "crystal ball" or stock pickers, than you might be out of luck.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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