best in the next 12 months

Charities in luck as brokers go for broke at casino
Padley
June 28, 2008

15th annual Australian Stockbrokers Foundation Awards night last week. A charitable affair. Into the valley of the shadow of the Star City casino rode the 600 (stockbrokers). A lethal combination of bull, bear, Crown Lager, De Bortoli wines and a dance floor.

Mixed in with the awards were some notable displays of charity and a Calcutta stock auction. This involved auctioning eight stocks. The idea was to buy the stock that would perform the best in the next 12 months. Fortescue won last year's Calcutta and Southern Cross Equities promptly re-donated its winnings. The most sought after of the eight was Gindalbie Metals, which fetched a hard-fought $36,000, closely followed by Karoon Gas ($35,000), Sunshine Gas, Nexus, Equinox, Pan Australian, Aquarius Platinum and, bargain of the night, Paladin at $10,000. Total raised $145,000. It seems the broking community has spoken. Resources are the only game in town, with iron ore the obvious play and coal bed methane close behind.