Ann: Update on Heart Failure Trial and Funding of Operations-MSB.AX, page-183

"As long as Thorney Holdings are into MSB so am I."

@mabsjy

Hmmmm.
Blindly following others.
That sure is s a somewhat unorthodox way to invest.

Allow me to expand:

Like many professional investors, Thorney have had their share of absolute disasters.

As case in point, have a look at ANG as a case study.

Thorney have been significant holders in ANG from a share price somewhere between $4.00 and $5.00.

This year the company technically went belly-up; saved only by an emergency, massive, very heavily discounted, fully-underwritten rights issue that has seen a trebling in the issued share capital of the company.

At what price did this recapitalisation take place, you ask?

Well,...er... uh... 8 cents, as a matter of fact.

Bit down on the $4.00 level just 2 years ago.

And Thorney were there all the way:
Thorney... the folk who you are slavishly following.

But there is one difference in Thorney's response to ANG's share price and that of MSB: Thorney have been buying ANG all the way down, including participating in the recent desperate rights issue.

You'll note that they haven't been doing any buying of MSB, though, seemingly content to allow themselves to be diluted at every turn.

Do you ever ask yourself why Thorney have not once picked up the phone to call the MSB chairman, saying "If you need capital, please come to use first, before going to the rest of the world?"