Thursday, May 21, 2009

Even with Lipstick and an agenda a pig is still a pig

Judging by the fuss made by Labour and their mates in the left wing media over the last few weeks in regard to Melissa Lee and Christine Rankin, they haven't learnt a thing from the mud flinging and finger pointing that was done before the November General Election, an election that they lost in a landslide to National.

In Melissa Lee's case they labeled her a racist for telling the truth about crime ridden South Auckland and then Duncan Donut from TV3 tried to pin her with taking taxpayer money to pay for electioneering.

With Christine Rankin they hit her with the "unsuitable" label because she doesn't agree with the PC sisterhood over the way our children are raised.

To the brain dead non-thinking individual these accusations ring true but to those who think these accusations lack even the slightest hint of moral fibre they are at best slanderous and at worst racist themselves.

Why is this being done though?

Well, when you label an individual with a PC lefty moniker you are able to get the PC media on board, then try and bully them into submission.

This has the effect of stifling real debate by using that label and then further allows the media to bully and victimise the labeled.

It is anti democratic and was used by Labour before the 2008 election and is typical left wing nastiness. As in 2008 it will backfire on Labour because Kiwis hate unfairness and this is clearly unfair.

What it allowed Labour to do in the above examples was to first avoid the blame for the crime they fostered in hell holes like South Auckland over the last 9 years and for their similarly poor record over child beatings and death and the failure of the United Future sop, the Families Commission to do anything about it, proving that Rankin's appointment was appropriate.

Subterfuge like this is used to avoid responsibility for the Left's part in the very same problems they are pointing the finger of blame at people like Melissa and Christine.

It is morally wrong and it is used to hide the truth and when you cant speak the truth you know you have a problem.

Just today the Labour Party Candidate David Shearer was caught out telling the truth about the very same thing the Left have been frothing swine-like at the mouth over for the last 2 weeks.

When he called South Auckland's unemployed "criminals" there was a certain amount of truth to it. Just as Melissa Lee's comment was.

Nothing wrong with speaking your mind.

Did the media set on it as with Melissa?

You guessed it, No.

They really shouldn't because what is wrong with David speaking his mind? To be consistent with their history on such things though the Left Media really should go after Shearer with the same venom and jealously that they went after Lee and Rankin.

Will they?

No.

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c Political Animal 2009

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Wednesday, May 20, 2009

Schroder Investment Management takes big Fisher & Paykel Healthcare Stake

Back in August last year I wondered whether Schroder Investment Management, a large multinational investment company, had added to their large Fisher & Paykel Healthcare [FPH.NZ] shareholding (they didn't) but they have been making large share movements in that area this year.



After ditching about 25% of their holding on March 19 (PDF) to take their position to 4.7% of total FPH shares issued, today in an NZX disclosure (PDF) it was revealed that Schroders have taken their holding to just under the magic 10% mark, their biggest shareholding in the company to date.

I make no bones about it, I see this company as one of the NZXs stars and pick it as one of the best long-term performers for the next ten years if the last ten are anything to go by. Having Schroders take such a large stake certainly gives pause for thought that I actually might have known what I was doing when I bought shares in the company but as I pointed out in that August article Schroders share the same investment style that I do so it is no surprise that both of us would make the same pick:

We are long-term investors: establishing the fair value of a security takes the discipline to avoid being caught up in market fashions and the confidence to be contrarian when necessary. We focus on the ability of a business to generate sustainable value and earnings growth. We look at the quality, as well as quantity, of earnings and we meet company managers and ensure that we fully understand their marketplace and business strategy. We believe that, over time, the mis-pricing of stocks versus fair value will be recognised by the market, and that our long-term approach to research will lead to long-term outperformance.

Having said that, Schroders did sell a small portion of their holding in March and I have no idea as to why (one can only assume for a short-term profit) but increasing their holding to just below 10% is certainly an interesting move.

As their statement above suggests they have been buying FPH at relative bargain prices compared to historical values and to be sure any serious "mis-pricing" of this stock in comparison to its concrete revenue and profit results will see this small shareholder take advantage of that situation.

Fisher & Paykel Healthcare will be reporting its Full Year 2009 profit results Tuesday May 26, 10.00am (NZ Time) - A conference call will be held at 1.00pm to discuss the results and you can listen to it here.

Fisher & Paykel Healthcare @ Share Investor

Long VS Short: Fisher & Paykel Healthcare

Big Fisher & Paykel Healthcare trades a curious tale
Why did you buy that stock? [Fisher & Paykel Healthcare]
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Share Investor's 2008 stock picks
Fisher & Paykel: A tale of two companies
FPH downgrade masks good performance

Related Links

Schroder Investment Management Australia
Schroder Investment Management Home

Fisher & Paykel Healthcare financial data


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Good Morningstar

News out in New Zealand's Business media today about Morningstar's (incidentally a Berkshire Hathaway, Warren Buffett owned vehicle) ranking of our mutual funds sector and I would argue as a spin-off the NZ financial sector as a whole, should be of surprise to those who only read the sports pages and gossip and perhaps the hapless Mark Weldon, CEO of the NZX.

New Zealand ranked a D minus rating.

As far as my major sphere of interest goes, the stockmarket, I have been banging on about how "wild west" our stockmarket regulation and oversight have been in this respect for 10 years.

The guts from Morningstar for me:

Morningstar researchers evaluated and scored countries in six categories—investor protection, prospectuses and shareholders’ reports, transparency in sales practices and the media, fees and expenses, taxation, and distribution practices. Read full article PDF format

"Investor protection" and "transparency" are two major planks of my rantings and Morningstars.

Recent capital raisings on the NZX have been the latest outrage to be foisted on New Zealand stockmarket investors, with protection for large shareholders managed by the NZX and Securities Commission laws at the centre of capital issues but at the same time leaving smaller investors like my good self drowning in a pool of bile filled anger over being shafted once again.

Mark and his directors down in windy Wellington in that flash building on the waterfront and those not far from him at the Securities Commission should take note.

This time, these are your contemporaries saying this about you, not the investors that keep getting the blunt end of your regulatory axe and perhaps you might listen now that it is your buddies saying this?

One can only hope.

Until then the swirling bile will keep me critical.

The Rankings by Morningstar

United States: A
China: B+

Italy: B
Japan: B
Netherlands: B

Taiwan: B
Canada: B-
France: C+
Switzerland: C+
United Kingdom: C+
Australia: C

Singapore: C
Germany: C-
Hong Kong: C-
Spain: D
New Zealand: D-

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c Share Investor 2009