Gone short, page-49

Fraser,

I've said time and again that overnight is one of the perils of being short (it's a peril of being long too but I personally see it as a bigger peril of being short). Look at what looks like happening at open and image how much worse it could be if the company had instead gone into a trading halt while it sorted out the deal and we were lucky in the same period to get the SER. I wouldn't want to sweat that one out.