yes - I knew it and I found reasons to ignore it because I thought the shares were oversold after the mauling at the hands of what I thought were the same short brigade that had mauled QPP before Terry went. I made a quick profit on QPP by buying low and was lucky enough to still be holding when AG rode in with your cheque book - I couldn't believe it. SGH was over-geared before it bought the PSD.
Therein might lie the answer. Where was the cash when all those profits had been reported??
As my moniker says: "if it's not in the bank, where is it?"
I don't think profits were being made as reported and this always catches up those who've done the fiddling. My theory is the PSD was going to be a big enough animal to lose the past in. Better to be criticised for getting an acquisition wrong than end up in prison perhaps? As I see it they were still still trying to muddy the waters when the spurious claims for $1bn went in..........."it wasn't our fault m'lud - they told us lies".
No they didn't.
SGH Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)