so why mad sp dropped so much today?, page-29

Hey guys.
I believe that mad is a great company and the story will only get better.

Do not forget however. Buying MAD is gambling not investing ATM.

We do not have 5 to 10 years history of ROE (from oil producing).

We do not have a dividend sentiment. i.e. if ROE is high - do pay dividends, if ROE is low - maybe pay one. Note: AUS have franking benefits for sharelholders. USA companies don't. Sentiment of USA owners would more than like not want to pay dividends.

So - because we cannot evaluate an instrinsic value on the business - it's a punt.

NOCASH is punting, we are all punting.
There is nothing conservative about this stock.

Punting is about getting a huge return for huge risk.

We are not trying to get 16% increase in our investment - we trying to 1000%.

MAD is de-risking everyday. Management are tciking all the boxes. This is IMHO a safe PUNT. BUT IT IS A PUNT.

Sometimes it's good to PUNT $40k sometimes it's not.

Cheers