directors -buying -to calm irrate lt holders, page-16

Epinard (Spinach in Froggo ;-)) and PP - I agree with both of you. I think you need to take the emotion out of investing or trading.

You might want to write down some good and bad things to try to get a balanced psychological perspective. In the end - you have possibly gone through the worst, and it is possible you could be selling near the bottom.

I've got a long position - ignoring Roger (which could be a trap for those who act on his signals), and ignoring negative emotion. The placement while unfair, was an equal opportunity offer in this instance. I think it was obviously priced fairly with hindsight. AGO and FMG are strong which is a good signal.

The letter seemed honest to me - did lack the obvious spin of retail investors have a better opportunity than the placement recipients to top up.