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Pastimes : John Dessauer's Investors World
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To: fielding who wrote (1467)7/31/1998 8:38:00 AM
From: Tealby Abbey  Read Replies (2) of 2346
 
Fielding,
He talked about FFS in his last issue about Asia. He said buy Hong Kong/China avoid Japan. He said sell FLP and buy FFS. He said you would have to be very patient with FFS, but that trees are a 'growing asset' and when Asia comes back FFS will come back. In my mind, he mentioned it kinda recently (it was trading 6 and change, I think) so he probably feels he's covered FFS for the near future.
Since you are holding FFS, have you had a chance to read the annual report? How solid does the company look now? I see FFS is trading at less than 5X earnings now. Maybe what you want to do is BUY MORE. But JD did say you would have to be patient; I think that is JD-speak for it could drop further and that furthermore its recovery will take as long as Asia's recovery.
Also, how geographically diverse are FFS's holdings? And, what class of trees do they grow? Since NZ is such a tiny country one natural disaster could have a big effect on FFS, unless they've been buying outside NZ.
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