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Watching and Learning

Every day is an opportunity to learn more about the share market, and yesterday brought a lot of lessons... all in one day.

The first was the takeover (merger) offer from Warrego's joint venture partner, Strike Energy. 

Next came a counter offer from Beach. And suddenly you could see that Warrego is probably in an old gashioned auction, with 2 bidders wanting the prize.

The thrid came from reading the threads on Hot Copper about it all. It is clear that many sharehoolders simply do not think before they open their keyboards. And they type with their hearts and not their heads.

Monay may bring more bidders to the auction. It may bring Stike to make a better counter-offer. And out of a couple of hundred posts on Hot Copper, one stood out. It is entirely possible that Warrego will go into a trading halt very early on Monday until they sort out thos takeover offers. 

What does this mean?

Well, better news for shareholders. And a lot more rubbish being posted online by shareholders who are too emotionally invested to take a step back and see what is really going on.

That said, everyone is entitled to their opinion. Just, if you read HC threads, make sure you have a grain of salt ready.

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