short selling reforms too late for mfs and ocv, page-13

R100, I agree with IKL.

Everytime I hear about 'business models' I want to puke.

Cash in - cash out = profit. End of discussion. Everything else is shuffling deckchairs, just blah blah and yuddah yuddah.

So tell me, where was MFS/OCVs 'cash in' coming from? And I mean cash that didn't have an obligation attached to it. Namely, an obligation to repay.

PIF was the 'flagship' right? Well MFSIM's fees from were about $6M a year. That would contribute say $60M (10 years * $6M) to the value of MFS/OCV Ltd. Whoop di doo. And that's the 'FLAGSHIP'. So where did the rest of the 100s of millions of 'value' come from.

Face it, MFS/OCV was living on borrowed time. If anything, all that the 'credit crisis' did was bring it forward.

What's your 'lifestyle model' like eh? Spending more on cars, holidays, clothes, mobile calls, plasma TV's, health spa treatments etc than you can afford to repay? You can argue that all are 'investments' that contribute to your income earning ability but at the end of the day, you still have to earn some $#*&%@ cash baby to pay it all back.

And then dopey, stupid and dumbarse went and sold Stella rather than going into VA. Mingers.