i smell wabit season, page-2

market is expecting approval of AGL, ALN merger. interesting to see if market sells off after fact.

ALN have a lot of plans, but their AIH trust is falling, from $2.40 to $1.70. ALN put these trusts together, flog them off, then collect large management fees. However one has to question how long the punters are going to accept poor yields and falling sp ?

ALN has benefitted by the infrastructure boom, but the UK market is now clearly overvalued and buying further afield is fraught with risk - not what we want out of infrastucture.

at the end of the day it comes down to faith in management that they will get it right, but the question is what if they get it wrong ?