Long Position, page-141

I agree most of the losses were from writing off large chunks of monies paid to acquire that quindell thing.
How do you value a business like that? Surely it has to be from what that asset provides as profit. So to my way of thinking it got wrote down because it makes next to no profit. It would be nice if they could write off the debt they incurred to purchase Quindell too as that would balance out the balance sheet but they can't the debt is still there. Not sure turning point is close.