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Wesfarmers' share price has fallen to $23.68 on March 10, following a profit warning. Investors are wondering whether CEO Michael Chaney can provide a miracle such as an acquisition to bolster the conglomerate's stock. Economists are upbeat regarding Wesfarmers shares.

The unpredictability of stock markets can make investment forecasting difficult. Ten Australian stocks with high growth potential for 2003 are discussed, including Wesfarmers, Rio Tinto, and Oxiana Resources.

Article analyzes the Australian All Ordinaries stock index, and describes the share price performance of various companies. Graphics illustrate the ascendance of Wesfarmers, Toll Holdings and Patrick Corp. and the decline of Computershare, Macquarie Bank and ASX.

The reasons behind the decline in Wesfarmers share price are presented.

The reasons behind the success of Wesfarmers, and the company's furture prospects under chief executive Richard Goyder, are examined.

Investors and shareholders find the franked dividends from Wesfarmers, which is a model dividend payer and Australia's best conglomerate, enjoyable. Growth in the company and increase in its profits, by acquiring Curragh coalmine and Curragh North deposit, are discussed.

The word perfection constituted the expectation that profit will grow indefinitely at well above average for stocks. However, there have been instances when it proved wrong and the price fell which conveys to the investors that once a stock is priced for perfection, the risk factor is too high and that no company has ever produced consistently high profit growth year after year.

The Wesfarmers share price in the Australian stockmarket for the years 2001, 2002 and 2003 are discussed. However, whether the shareholders will benefit from the decision taken by Wesfarmers, to pay generous dividends, are under speculation.

The company, Wesfarmers has attracted a near-cult following because of its almost faultless record of well-time and well-priced acquisitions. The company's claim has achieved the status of one of the best performing stocks since mid-March of 2003 and has risen by 22% from $21.73 to $26.55 as a result of the drought-breaking rain and the two recent acquisitions. The ups and downs of the Wesfarmers share price in the stock market are examined.

Excessive investor reactions to minor company announcements during profit reporting may indicate the final stages of the bear market in Australia. A second-half budget tweak by Wesfarmers caused its stock price to drop 14%.