Dartboard Off Target As Racers Go Back In Black For The Week

Sun Herald

Sunday November 30, 2008

Patrick Commins

FINALLY our racers have something to smile about! On "Super Tuesday" the benchmark S&P/ASX 200 swooped 7 per cent higher for the week. All racers scored in the black. Hooray! But they're all still firmly in the red. Boo.

Stronger commodity prices lit a fire under many resource stocks. But the decision by BHP to abandon its takeover bid for Rio Tinto sparked a nasty unwinding of the takeover premium built in to the unwilling target's share price. Joanna Townsend couldn't have seen this coming but Dartboard should have. Dartboard's now in wooden-spoon contention, while Joanna also slipped a couple of notches.

BHP shareholders seemed pleased, though, including our new leader (drum roll), David Potts. Picking the Big Australian (up 37 per cent) and the West Australian (News) did wonders for his portfolio. Doreen Daze was the only racer to beat the market thanks to BHP and Lihir Gold (up 40 per cent). Richard Pritchard's placing showed the start of a strong slide, while student Alexei Nicholls surged into third thanks to a brave pick that continues to pay off (Macquarie Group, up 16 per cent).

But Dartboard! Wherefore art thou, Dartboard?

© 2008 Sun Herald

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