and a less happy new year, page-17

MAP had a PE of 8 when it was priced over $4. All shares are getting flogged to death at the moment. It seems only Incitec Pivot is holding up. When the market contracts, so do the stocks. Thats the risk. Remember, the market is not defensive.

I still think MAP is a good company and I tend to ignor short term movements. Good for my reinvestment plan though. Funny, the share price went up during the price determination period of the DRP, then plummetted straight after. I smell a rat!