utter carnage, page-36

I am stunned at the lack of _informed_ discussion going on in these threads. Several times now I've read that VPG bought $10B of assets for 20% of their market value ... are you serious? Would you sell your $1M house for $200K in a fully functioning market? I didn't think so. Go back and re-read the releases and then google what "Assets under MANAGEMENT" mean.

With that little rant out of the way, I still have to say that there is so much ill informed discussion here that if this is indicative of the research being done before trading then its no surprise this stock is bouncing like a yoyo.

No doubt Friday's announcement wasnt a glowing "everything is just fine and dandy" one but it wasnt really anything new either. Everyone knows or should know that the VCS debts probably wont be recovered in full. How much can be realised is probably anybody's guess at the moment. Reducing costs and other overheads is prudent management right now.

Issuing capital to the vendors of Scarborough should show faith in the longer term ability of VPG to survive. Seems to me that there are other companies with much worse positions in terms of debt and interest cover that would go down first. But the banks cant sustain everybody going broke - they will likely be in a position where the debt coming up for maturity over the next couple of years will have to be rolled over... and quite possibly at lower interest rates.

Significant buying by insiders over recent months at close to double the current share price tells us much more about where this share price will be in the medium term than almost anything else.

There is no doubt that VPG has some challenges coming up and the FX AUD/GBP risk is probably one of the biggest issues I can see.... but the market is certainly pricing this for extinction which is completely unreal even in the current tough environment. Those holding for the mid to longer term will be well rewarded in my opinion.

At the current SP this seems like a screaming buy to me.