fools view on bip is bullish, page-11

Hi Blues,

Dargie has a point saying it is a done deal. Same as when 75% of beppas went through before Nov 09.

My rough calculations put the number of PIH through since the ann. at over 50% of the ex-beppas. The reason I give weight to the ex-beppa PIH is because they are the largest single body of private PIH shares as an interest group. The other conversions and new issue holders are a far lesser number.

imho, BAM and friends didn't buy into PIH so they could do piddly trades on the ASX at way below what they paid for them, although there is no way I can say that it has not occurred. My feeling is that the ASX trades in PIH so far have mostly been either capital gain related or opportunistic % players and some of that would have been insto possibly with weighting requirements thrown in but opportunism is highest on list.

Seeing as most of the opportunistic players could have made a nice profit by selling recently, that the present owners of half of the available trading stock already approve of the move, whoever they are.

Imho, that puts ex-Beppa owners at around half the number there were last December, together with the new issue owners as the 50% of holders who must be convinced to approve, BAM would not attempt it if they thought it couldn't succeed.

The 75% of stock is over the line already and was last December.

just an observation...

ifandwhen