if markets stabilise this will be a ten bagger, page-46

What we are really seeing is that Research houses are struggling to value this company and due to concerns in the market place about hedge fund sentiment, it makes it harder to make assumptions on where FUM will be in the future. One positive is that HFA have a relatively high MER and when markets are buoyant and they receive healthy performance bonuses, they have an incredibly high ICR.

Personally I wouldn’t put a value on HFA, especially atm, but in saying that I have purchased some shares in the last couple of weeks as I believe that they will weather the storm, although I think it will be tough for HFA moving forward and will be worth more than 4 or 5 cents in years to come.

This is why i have not speculated in recent days on where they will be in a week, a month or twelve months, but I am willing to say that if someone is willing to pay $1 a share in twelve months as some have suggested, then I am happy to part with them.

I think we should all just be happy that we didn't buy at $2.77, which from memory is their highest closing price. Well atleast I hope no one in this forum has paid near that level and if you did, you have some serious averaging down to do.