Quote Originally Posted by Roger View Post
I saw the CEO on Q&A last Sunday morning. Basically admitted they'd misjudged Australia's slowdown and invested too much there in infrastructure, not quite in those words but if you read between the lines you will get the picture. If you go onto TVNZ's website you may be able to access last weeks programme and see for yourself what he said.
He came across as pretty stoic in terms of the downturn's effect on MFT but he would wouldn't he. I think they will get hit by the bear market just as much as anyone else and technically the stock doesn't look too flash. Dividend yield is very low and the PE is not compelling. I did hold and sold out at just on $16.00 some time back. I have no intention of getting back in until the global economic picture looks more robust.
My 2 cents...
Good post here Roger .