Tony Morgan reminds us there is no certainties in life, certainly none in investing. You play the hand you are dealt at the time you are dealt it, and he likes the look of glass ...

Oh, bother, no show,

What do we see, but such lackluster play?

Surely the NZX must be worried?

One of about 135, such a small market, one can only wonder why?

Trading is down most days by 90% from days gone by from the top.

My goodness, total value a miserable 5% from that yester year.

How could it be so?

Like those trials we loved so much,

The Probable’s vs Possibles,

I always did contemplate who would be the best? I never knew, just had to watch the beauty unfold.

What a tragedy those games are gone.

But here we have it, the uncertainty in front of us.

Surely the numbers stack up so much?

This cannot be a cigar bud that could wreak havoc?

The product is not like that damn synthetic that Bremworth discarded for the glory of nature,

But neither is it so important as Green Cross medical centres and pharmacies that number many, plus all of their carers in the neighbourhood. What great work they do for all in need.

Hey, hey cannot be so, why should Steel and Tube find its feet and be so suddenly great

when we understand the similarity’s so much?

It’s always the pessimist’s vs us optimists,

The agony goes on with no news this side of the new year.

We look at all those fundamentals we have learnt,

Those ratios, those valuation arithmetic’s that measure the scale of the opportunity.

They ring so loud and clear, but oh my dear, the dreary ebb and flow, so slow,

like a bloody nose blow.

The pain is not in vain.

I say again as I watch the sun, as I wait for that water to come from the sky, for the grass to reestablish from the near imminent death splurge.

And only that glass allows such a lovely picture from my desk.

Sits in between reality providing such a job.

Hope

We wait for that next faithful day. Yes, it will come.

The master at the top will emerge again.

His words will find our searching souls.

Bugger me we may have an encore, tis such a hunch that my stumbling ego dreams upon.

Sure, why not?

Those boys at Fletchers have so much cash, that such a splash would be neat, would seal the plot and the utopia would match by neuronal ecstasy.

You are dreaming my boy, just wait for the music to arrive, to say if we survive?

Be patient, so trust. Be willing to hold beyond the rut of ambiguity and dislike.

The team at Metro will give us hope.

They are working hard to make good and show pure value for a buck.

Housing will not come unstuck as Jacinda opens up finally from the pandemic muck!

And let’s not forget Ozzie with greater scope, before we hang the rope!

The game has just begun, so we await the fun.

The Judgement

Invest your dollars or wait and see?

I tell you again to buy on the cheap, but my word is not always neat!

The challenge is the choices we all make, your decision or lack of is like making a cake.

Reminds me my birthday is coming forth, we must thank the Lord.

Let’s see the wisdom shine as another year has gone by.

Good luck to you all, even if you should fall.

It’s the thing to have a go.

The curiosity, the mojo.

The fear will go.

The truth will show.

[This is not investment advice and is no substitute for proper advice. It is only a top level indication of how the author has assessed the opportunity. It is intended as guidance on how to think about issues like the one presented. Get you own independent advice before doing anything yourself.]

Tony Morgan has run a portfolio management business and an equity brokerage, both of which were purchased by Craig Investment Partners. He now runs a small family office that invests globally. Other articles in this series can be found here. And the profiles of all the NZX50 companies can be found here.