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Originally Posted by belgarion
Seems Canterbury will need some new carpets ...
And still they rise. Topped up at 2.39 back in May.
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Can anyone explain this meteoric rise? To me it seems irrational, yes they will need some more carpets in Canterbury but surely its not only that?
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It certainly has been a meteoric rise!
But perhaps it's just that the market has rediscovered a well run business that has delivered consistently good profits and high dividends for longer than most can remember.
As an income investment, CAV sure beats those dodgy finance company debentures!
Disc: The longest Hold in my portfolio.
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Member
Posted by macduffy:
"The longest hold in my portfolio"
Me too, macduffy. Since 1996. I was still buying more in 2001-02, when the price was over $6 (just before a 2:1 split). But I wish I hadn't taken advice to diversify into fixed interest, back when the likes of St Laurence and Strategic were being recommended by the so-called experts.
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Hi, Lawso.
I should qualify my statement.
The equal longest Hold in my portfolio.
I bought CAV in 1995, along with STU (still held), Dominion Breweries and Skellerup. The latter two long since gone.
CAV has proven to be a classic stock to hold for income and to buy in the dips. STU would have performed better for me had I treated it as the cyclical that it is, but we live and (hopefully) learn.
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that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?
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Originally Posted by blackcap
that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?
What about the South Canterbury Finance money going into the NZX market, for dividend paying stocks?
The earthquake in Canterbury will certainly help CAV over the next year
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I've never been overly impressed by the Efficient Market theory.
Markets - and individual stocks - have always been subject to large dollops of sentiment, enthusiasm, depression and mood swings which tend to throw "Efficiency" out of the window on occasions. At least, that's been my experience these last 40 odd years!
Perhaps CAV is just back in fashion?
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Originally Posted by blackcap
that still doesnt explain this sudden interest though.... Or is Efficient Markets just not working properly atm?
Who knows and who cares why? Maybe some investors have just gone nuts.
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