Never average down unless daytrading and your time horizon is less than 3 days!! Buckey dont look at NT for a year(easier said than done). but if i remember you said you bought it in your RRSP.. Look closely at BNN.A!! selling at book value pays 6% dividend!! They are betting on tech meltdown (PHPI)
Brascan Corp BNN.A
Shares issued 285,134,384 2000-11-10 close $20.2
Monday Nov 13 2000 In the News
Also Trilon Financial Corp (TFC.A)
Also Great Lakes Power Inc (GLZ)
Also Brookfield Properties Corp (BPO)
Also Noranda Inc (NOR)
The Globe and Mail reports in its Monday, Nov. 13, edition that Brascan chief executive officer, Jack Cockwell, is so convinced tech-drunk stock markets are headed for a collapse that, since 1997, Brascan and its affiliates have been selling assets, shaving debt and stockpiling cash. The Globe's Jacquie McNish writes that just when it looked like his pessimism was hopelessly out of touch with modern investment models, a burst of dot-com failures coupled with a telecommunications credit squeeze have lent some merit to his doomsday scenario. Mr. Cockwell says: "There is going to be a washout in the market. The correction is going to be unbelievable." If he is right, Mr. Cockwell expects investors to flock back to such old reliables as Brascan and its diverse holdings including Noranda, Brookfield Properties, Great Lakes Power and Trilon Financial. When that happens, Mr. Cockwell will be poised to do what he does best: hunt for undervalued corporate assets. Last week Brascan announced it had posted an 18-per-cent profit, its seventh-consecutive quarter of increased profit. |
