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05 November, 1987

News release

Securities Commission Chairman, Colin Patterson: Stock Market Affected by greedy fools

At a Press Conference today the Chairman of the Securities Commission, Mr Colin Patterson, made the following statement:-

1. Some share prices on the New Zealand market have been affected by the actions of greedy fools.
2. Shareholders who have not sold have not realised a loss - hang in there.
3. New Zealand shares are, on average, cheap by international standards.
4. This looks like a good time to buy shares on a selective basis - I bought some this morning.
5. Don't borrow money to buy unless you can repay it.