bell potter initiate coverage, page-4

Fosters are a joke, I'm not sure who (if anyone) treats their valuations seriously.

Firstly, they hold a stack of IOH stock and as such they have a vested interest in placing high valuations on IOH.

Secondly, they got caught holding millions of dollars worth of IOH stock at $1.60 as underwriter of the previous cap raising. Hardly a savvy business move, currently down 50% on that little balls-up.

Thirdly, they have consistently placed high valuations on IOH and every time the stock has moved in the OPPOSITE direction. Even throwing darts you would be bound to get luckier than following a Fosters valuation.

If Bell Potter are seriously going to start recommending this stock we will be back up over $1 in quick time. Forget about Fosters & their valuations.