confidence in recap approval appears misplaced, page-32

BAM couldnt care less about what price PIG trades at.

They wont be a buyer of PIG, and they wont be a seller of PIG.

What do they care about the price at which uninformed investors and day traders continually shuffle holdings between themselves.

In BAM's books, they will equity account for the investment/s, which means they record their share of the underlying profit/loss of the PIG entity.

Movements in the value of the stock mean NOTHING to them.


Although, if anything, they would want it to fall through the floor. Gives them an opportunity to mop up.....