careful, page-18

companies with strong cashflow and investor confidence survive in uncertain times.
The lack of understanding on HC of what a mess this Valad business is in amuses me.
Valad does not have strong cashflow and it does not have investor confidence.
Watch the european writedowns this half.
Orbis investment ( which is talked up) is merley a specualtive punt.
This group manages $15b globally. How much have they invested in Valad, $3-$4M?, so if the price falls 50% they lose $2m, big deal, They are there for the speculation that Scarborough make a bid.