Quote Originally Posted by Hoop View Post
Nominee for the stupidest quote of the year award

Its different this time......Yeah right...

It scares me to see a movers and shaker of NZ take a view against market theory. Lets hope for NZ's sake that he is a lone thinker or perhaps he just had a momentary brain implosion episode...This is one guy you don't want on your 20 year planning committee.
Hoop agree, long term 5 -10 years, the NZ dollar will retrace to a fair value. However I disagree on your view of the quote. The article seems to take Mike Daniell out of context, within the wider business to focus on one view. He says maybe here to stay, i.e. if you are an exporter plan for the next 5 years of a strong NZ dollar. It doesn't mean FPH are not planning for a reversion, they are just worst case scenario planning, prepare for the worst. Mike Daniell is a very experienced and competetant CEO for FPH, and has been with the company 30 years.

Also not he is not on the risk committee, which is responsible for the high level risk management, including currency management, and I rate their risk committee has one of the better risk committees amongst NZX listed firms.