broker reports
Like most people I assume, I have never made money based on broker "advice". There are simply too many conflicts of interest within the financial industry that advice is usually compromised in one way or another. I was reading in The West Australian today a comment by one broker who said that he believed Hardman was overvalued because "IF" all the drill holes are "dusters" and the oil price falls, then the hdr shareprice was likely to fall. What kind of half-arsed comment is that...lol. Like saying "if the sun doesn't rise tomorrow, we will all be in darkness"
Ask another broker and they could say they thought Hardman was undervalued because the success rate of the drilling thus far has been good and the oil price was likely to stay high for sometime.
Don't you just love it when companies come out with profit forecasts for the year and suddenly all the brokerage firms come out with their "revised" forecasts.
What the hell do they have research departments for in these brokerage firms when all they do is base their figures on what the companies are saying themselves.
HDR
hardman resources limited
