merger, page-5

Good post SJ

The Chinese have enough money to see themselves through any downturn. I live in China and went through 9/11 and SARS. I've seen first hand how scared people got about their positions regarding the future. It was so bad you could smell it. Yet in spite of all this we had a good run up since 2003.

People look at the short term too much and while I admit that the concern is warranted in some cases and some companies will disappear you have to ask yourself if someone like CP is just going to lay down and go away in the face of adversity that is the current financial malaise. I think not.

CP is looking well beyond 2009, as should most people, while everyone else is bouncing off walls incapable of seeing beyond next week. Some of the price fall is being orchestrated while some of it is just people in a bit of a tizz.

Like you I have been in this back in the SBN days and believe this will be a stock of the future. Sure prices have fallen but they will rise again. One should not underestimate the need for infrastructure around the world not only in the emerging countries but in the mighty USA where the place is just falling apart. They have some 160,000 bridges alonewith many in need of major repair or, moreover, replacement.

I am not overly happy with the merger as I believe that the price is too low. I guess we will have to rely on the independent report and the courts to ensure that we are getting a fair deal. In the meantime there is nothing stopping you or others from putting your views forward to the company. Already they have changed there minds on parcels less than $5000.

Common sense will rule the day and not the confusing noise out there in the ether.

At these levels ARH is a buy.

Cheers
BW