Advice offered

Press, 27 June 1987, Page 26

Advice offered

The taking of profit is just as important as the making of profit, according to Great Investment Race leader, Leadenhall Investments, Ltd.

“A good investment manager knows when to stop and put everything in his back pocket,” said the managing director of Leadenhall, Mr Peter O’Neill. \ Leadenhall continued to sit back in the race this week, after cashing its investments two weeks ago. It made a modest 2.57 per cent this week, increasing its initial $lOO,OOO investment 607.9 per cent. “We’ll be studying; goldstock movements for a couple of weeks. There are still opportunities and plenty of excitement to come,” Mr O’Neill said. The AMP Society is still in second place, but slightly down on last week.

The AMP dropped 8.2 per cent on its portfolio to 223.8 per cent. . The progress of Barclays New Zealand, in third place, was also slowed, adding one per cent to close 199.01 per cent.

In. spite of an active week’s trading on the

New Zealand Stock Exchange, some competitors took a marginal loss on their portfolios, said the race organiser, Listed Securities, Ltd. The leading broker is Jarden and Company in the field of 10 competitors. Each team started with $lOO,OOO from the SIM put up by Listed Securities, on March 16. The race runs for six months and the profits go to charity.