sp based on current assets, page-19

I think the woes of CVI and just about everything else can be summed up in one word....DELEVERAGING.

I know many here spend much time looking at CVI in isolation but there is a big investment world out there within and outside the stock market. Until recent times many ppl have been leveraged up to the eyeballs with multiple properties and share portfolios. I do not know where the economy is taking us but some of the predictions are very grim. Many people are at least selling enough stuff to cancel debt to proceed on the safe side. Others still are more bearish and going to cash all together....everthing is contracting.

Raising capital for a venture like CVI has become a major issue outside the control of MS however i must say he seems determined to get through regardless. Other than that worry I feel the main issue for CVI is a contracting market. CVI is not alone...look around at some other specs.

I put a toe back in but am out again for now.....such a shame as it is but like many others I have already lost enough. I am happy to lose a few points head start and will come back in when she starts to move.