is there another stock with less risk, page-22

as long as you understand this, then that is fine.

For a BHP or Santos I would agree that they have the mgmt structure for a repeat business, however for tiddlies like PPP that would not hold water, so I prefer to look totally at the assets/cashflow they have now.

We can all agree that PPP has not even showed a smidgeon of intention of doing aything other than just sitting on the cash. I don't have a problem with that but if there was a solitary remaining brain cell amongst any of the directors I would have thought a buyback program at lower levels was a total no brainer.