OYSTERTEC

Last year OYS was a New Year Telegraph Quester tip for 2002(they also tipped ENERGIS as well),this is there review

Oystertec

Tiny Oystertec was our last, and acknowledged as the riskiest pick. When former Matalan head Angus Monro became chairman, it looked set for great things.

The Oyster Converter, which joins pipes without welding or compression of the joint, and was to revolutionise plumbing. It may still do so, but the technology has been overshadowed by the boardroom dramas.

Founder Paul Davidson sold much of his stake after a spat with Mr Munro, and a modest interim pre-tax profit of £124,000 (against a loss of £754,000) was ignored. In today's depressed markets the price has drifted from Questor's 39.5p to 16.75p.

So, if you are feeling bruised and battered by the turbulence of the past 12 months, Questor can only point to the words of James Grant in his latest Interest Rate Observer: "A washed-out stock market is one of the safest havens in all the kingdom of money, though the sight of it will curdle milk.

" Like everyone else, we hope for a more prosperous new year, and will be foisting our 2003 tips on you on January 2. You have been warned.

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