Ann: Elders Limited Investor Presentation, page-16

You say you knew it wasn’t worth $13 yet many analysts at the time had buy ratings and higher PT’s. The tailwinds and prevailing economic conditions also supported a valuation in that range. You can’t chastise the average retail punter for their decision.

This is not sour grapes, my avg is $8 so I’m not under water too deeply. I’m just making the point that I think your judgement of holders is a bit harsh.

And to your comment that mgt don’t owe shareholders anything for buying into the stock I challenge that by simply saying that shareholder interest is their duty and primary prerogative. In my view they have failed dismally as evidenced by their secret squirrel briefs and failure to adequately disclose. In fact, they responded to the speeding ticket by saying there was nothing to worry about. Big fail.