Quote Originally Posted by peat View Post
No, I mean this in terms of evaluating companies performance. If they make excuses instead of results then exit or reduce the position.
It is a stunning axiom (also something Beagle has commented on ) that the most reliable predictor of the future is the present and the immediate past. If a company is doing well as a result of its management performance it is likely to continue to do well , and if times get tough it will adjust and do the best it can given the circumstances - active skilful management is the best asset a company can have.
Basically what Warren Buffet says, a company with a large moat.

But really, before anyone starts investing into shares, they need to start understanding taxation. Most would disagree as in the past in other postings i've been very critical to NZ's tax approach to investments in shares, particularly domestic vs foreign. Don't forget NZ corporate tax rate at 30% is a clear disadvantage to other countries where corporate tax rates are far less.

@ timinator: The studies you read about finance online, around great investors like Buffet will be in conflict to the NZ perspective. Again it's due to differences in taxation. If you asked Buffet about investing in NZ, he would point you 1st thing to probably declare non-resident in NZ and move to a country that is more favorable (or equitable) to investing in shares. Because what we have right now in NZ is a huge inequality between investment in real estate properties and equities in the share market.