ASX newbie

Yesterday was a non event as far as the market was concerned .So I spent my time constructively adding a few more e-books to the” free downloads” page. (Go and check them out as there is new stuff being added all the time.)

Now today is a lot more interesting with one of my shares (BPC) Burns Philp, gone into a trading halt. I bought these originally for 60 cents per share around 18 months or so ago and sold at $1. 15 early in the year and re-bought back in again at 97.5 cents in August. Today sitting on around $1.08 around 10% profit so far. This stock has sold off Uncle Tobys and still has the “bluebird” lines to unload at a profit. They are nicely cashed up to the tune of $2.4 billion, with a further $16 billion available if required and are on the acquisition trail.

This brings me to another company who is in the firing line of currently being taken over and that is Coles (CML) Having unloaded Myers , They are a lot cheaper to buy and are a lot cheaper than Woolworths {WOW}. Supposedly from overseas? A few names have been bandied about, Wal Mart amongst them. Who as you know is currently the largest reailer in the world. They recently gave up on the idea of “Germany “and have been looking our way.

I think this will be just the start of a few “takeovers” that we are going to see and remember “I told you so!”