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I know what you mean about John Ralph and his ilk Avenger.


To quote John Singleton, "Most Australian company directors aren't much good." A simple statement but, as always, Singo hits the nail on the head.


How do these guys get the job?


I attended the last PDP AGM at which Ralph was chairman, from memory that was '01. He was booed again and again. When it came to question time shareholder after shareholder got up and simply said, "Resign". He had the gall to brazen it out, although he did resign later.


I can't speak for Ralph but all I can say is that if I had been in his shoes I would not have had the cheek to stand there and keep taking the money. I also like to think I would not have run the company into the ground to begin with.


As for the joke which is Telstra, I had better not start. It has been run by boys on work experience from the start and the measure of them will be taken if the Gov't ever tries to unload the rest of their holding. Who the hell do they think are going to send their cheques in?


BTW, I had not been a long term PDP holder. I bought in near the bottom. It was an odds on cert that the glove and franga business would rise glorious from the ashes. And there is still a long way to go. We still needa couple of conscious directors, however.


Did you know that many years ago the directors of PDP decided that there was no future in frangas and decided to drop the business. A bloke called Ansell who worked there bought the machines and the set of dick moulds for a song. He set up his own factory in Richmond and started making frangas. As in a true fairy tale he waxed properous and in the fulness of time the directors of PDP beat a path to his door and offered to buy him out for a fortune.


The booboos made by a s=equence of hopeless directors of PDP are worthy of a book by Pierpont.



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Company directors. What classics they are. ANN directors I am being kind and giving them the benifit of the doubt this time but as I said the rope is very short for me on this one. Any excuse out of them will do it for me but I can't see them coming up with one. Markets has been good, cost cutting and shedding should help, lower debt and lastly the currency. On top of all this the share buyback. Seems a few big boys are buying and thinking along the same lines. I am somewhat different and are treating the stock like a trading stock trying to pick up 2/3% every two weeks and so far has been working.


If these idiots come out with some lame excuse when accounts time comes round again I shall be the first to spit, first my shares and then at them.


Company directors, wow what stories we all could tell. Suppose my favourite was the old director of selling his shares just before the company went into receivership a few years ago. poor shareholders lost 90%. Funny thing was the receivership was a bit out of the blue for shareholders but the directors had decided the month before he sold that if they couldn't agree on finance into recievership they went.


As for some of the idiots we have on boards the list is long and glorious. However there are some out there which have some merit.


thanks for the history on the ANN board. Knew it was bad and hoping maybe they have learnt something.



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Hello Peter H


Good to have another reply. I am happy for you that you got in at the bottom and hopefully you are going to make a healthy buck out of this.


I didn't know the history of Ansell.

Just one more go at them.

They sold off Cochlear. What a disaster. Mind you, to be fair, they did offer them to current shareholders and I declined to take them up. My wife still reminds me of that every time I want sex -LOL.


I did buy AMBRI at $0.21 and sold at $0.50. I figured that if PDP sold them then they were sure to be a success. LOL


So what do you think is the future of Ansell? Will it grow steadily from here or do you think its fully priced?




I admire the way you are trading this stock. I have only traded that way once, but its not for me. I am more of a long term holder, although, I can be caught out badly when a stock falls heavily.


What other stocks do you guys hold?















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No I don't think they are fully priced yet. The way they are continuing the buyback indicates how confident they are of their ability to improve the ratios on an ongoing basis. I will not be surprised to see the dividend increased. That will be the key to the market accepting ANN back in from the cold.


Now they are in two very clean businesses which respond proportionately to the markeing effort and advertising expenditure put into them. I might add, also very like the Pacific brands they so stupidly sold.


Kahuna, if you are concerned about this mob using extraordinaries to cover their lack of performance I can assure you they are amateurs compared to James Hardie who perfected the art over many years - always great trading results and great operating profit but never much of a bottom line after the extraordinaries. I finally gave up and sold out. I am giving ANN the benefit of the doubt - that the new broom is sorting out the teething problems and the brush fires will be mopped up.


As to the new cahirman, Ed Tweddle, all I can say is that at the AGM he is most uninspiring. He must be another person entirely at the board table. If he does not deliver I will not be holding out for the long term.



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Hi Peter and Avenger ...


Well at least the new guy isn't a complete stooge. Or at least we hope so.


Yet again yesterday it did it, with the price having a fairly decent sort of range and being ramped up on the close. And again today we see the price way back off the high with what appears to be the same guy buying on the dips. I have yet again went in and out over the last two days but not convinced here is the right time to buy. Big numbers i think out for the states over the next 2 days with PPI/CPI and retail sales. US market felt sick yesterday arvo our time and was down around 1.5% for some time only to rally back to close in the black in a very short period of time.


Think maybe with ANN shall wait to buy until we have another down day in the states and if this guy stepped aside from $7.35 maybe get them back around $7.26. Feel whoever it is doing the pricing is trying to ratchet the ANN share price up. He ceratinly has me convinced to buy any dip and sell when they ramp it on the close either that day or the next.


Future direction really depends on the numbers and very little else. Still a bull for this one but very very hard work hence the fact that I am flicking in and out to amuse myself.

Needs badly to break recent highs of $7.60 plus for me to get too excited.


Aveneger you asked what else do I trade .... hmmmm lots. Portfolio made up of 90 % well established and profitable companies and around 10 % in specs.


Current specs I like are HDR, EMS at lower levels, NRT for the violence of moves, CHF at lower levels as now is well cashed up


Big ones I have held this year long list ABB,CTX,CEY,PBL,MBL,BEN,BOQ,ADB,OST,GUD,BSL,Lei,MAy,SRP and the list goes on and on also most of the top twenty.


Of the stocks mentioned most have really done their dash and massive moves already

HDR like at lower levels ... 5% of portfolio high spec oil but has commercial field

EMS extremely spec but maybe new tech will be good 2%

CEY ... one of the best coal companies around good value yesterday at $2.66 .. 7%-10%

BHP ... China factor overdone ignoring benifits of lower AUD/USD ... 12%

OST ... bit of a trading stock but was value the other day $2.11/12 ... 7%

SRP ... just keeps going up 11% .. near the top now maybe

ANN ... in and out for around 10% and will increase to 15% if numbers ok

the rest change all the time ... and I tend to if anything over trade and flick in and out at present with the overall market sideways at best.


NRT adds a lot of excitement to the mix. Picked it up the other day near its lows only to sell tooo early but a profit is a profit.


OXR I like but again at lower levels

NCP ... good numbers but wait for the eventuall selloff sub $12.00


Becoming harder and harder up here with most stocks having done their dash for this run up with them trading near year highs. ABB,SFE,CTX,MBL,PBL all have massive gains from the lows so not keen up here. NCP turnaround story maybe but every rally seems to hit a brick wall. ANN same sort of thing but think potential is more for a larger percent gain with ANN. BHP and CEY locked in massive rises in USD terms for this year for commodities when the currency was 79 cents now with it down here around 70 cents numbers have to look good.


Did like RDF as a spec but again went to what I felt was full price a while ago. MPH again big rally same story. Still good companies just feel they are fully priced. CSL,PPT same again.


Do you gents have any suggestions ??



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Howdy ...


Managed yet again to pick up a decent position over the last week. Wish it was all at the low but the strength and announcement of the contuation of the buyback spurred me to take on a full position of 15% of capital. Looks great as of todays close. I was tempted to flick the position again but not this time. Looks like we are going thru the $7.61 level. Maximum price for the buyback is $7.77 at this stage so shall watch it closely.


Also noted a director purchased a tiny amount 5,000 shares all good but small only.

Take it as a good omen as to the numbers which will be out not too far away.


Good luck

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In your analysis, have you taken into account the price of oil?


If I understand correctly, a lot of their raw materials are a derivitave of petrol and therefore at current prices they would be bleeding.


Your thoughts would be appreciated.






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Good point.


Lets hope not. So far no profit warning and if anything it is a bit of a fist fight between instos and the guys doing the share buy back to get stock. I thought the buyer up around $7.50 was the gents doing the buyback but it seems to be someone else trying to get set sine their has been no announcement regrading more shares purchased under the buy back scheme since the 19/5. So yet another new buyer. None of them want to show bids but they are there and in force. Everytime it is sold off a little bit the market turns around in a big way on the turn of a dime.


I share your concern regarding oil products and the price but I am fairly sure they will just pass them on. Latex prices spiked last reporting season I think yet they were still able to produce the profits. Not sure as a proportion how much is actually made from the synthetics as opposed to the natural products. Interesting point however. Condoms and gloves are latex/rubber and not sure as to the breakup and profit margins and percentage of profits generated from those divisions as opposed to the others that need the oil products.


Oh well we shall see ... sorry couldn't help this one.

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Howdy Avenger ...


Glad I held managed to tip a few out yesterday and shall do the same on any rally today up into the $8.00 level. Share buyback scheme has an upper limit of $7.77 I think and maybe we see some drift back to there.


Peverse thing about ANN is the higher it goes the keener the buyers appear.


The other stocks I mentioned a few posts ago have done a lot better.

CEY sub $2.65 was a steal and lobbing them out at present at 2.92 for just under a 10% profit after bro.

OST for some stupid reason was sold off last week below $2.10 in size and taking the money here for around 8.6%.

BHP ... gotta love it no friends last week and now they cant get enough ..

same with OXR and the panic with the govt offloading its holding of BOQ and the price being dumped to $9.18 was silly. Rally back to $9.66 not that strong considering the overall market is up from 3360 to 3450 so shall take the cash on them all and run.


Maybe overall market goes up to new highs but not that confident of a sustained rally at this stage. Big numbers late next week in the US .. payrolls should keep the bulls controlled till then.


As for ANN, not sure from here. Market overall has rallied 3.5% off its lows and ANN seems just to be keeping pace with that despite hitting new highs. Think it is back to pick your level and a slow gring up from here. Support $8.60/65 would be great but probally need to pay $8.70/73 on a dip.


Not all good news ... the specs I have about 15% invested in are going nowhere to down.

CHF and EMS down around 4% HDR about flat.


Good Luck

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