re: floating around in boats target hi alpha, on the...

re: floating around in boats target hi alpha, on the fundamentals given the greg norman boat was a once off mistake asb should have 2004 profits of $28 million plus the navy contract should underpin profits for 05 ,06 and 07 of around the same mark possibly more its not hard to see asb back above the $2 mark if the second half was good and the market regains confidence in asb managements ability to make profits from its ongoing work .the order book is very good with around $800 million in work over 4 years .i missed the lows below 50 cents but have been buying from .65 cents and am optimistic on the shareprice having a strong run between now and xmas.wrongway