is pxupa a buy?, page-59

Yep, a killer day for PXUPA. Thing is, if IR's rise (as jawboned by the RBA recently), these will earn even more in terms of distributions. They'll end up paying for themselves over time. Maybe I'm missing something, but I don't think PPX will fold- recapitalise, maybe, but not fold. Private equity would take it out before then, and take PXUPA with it. I still see the value of $100 in PXUPA, if that makes sense. Priced currently @ $42, but "worth" $100. I may be wrong. :)

Graham, yep, a new low for PPX, but I am wondering how much of this is just the markets in general. I am seeing bargains everywhere at the moment. It would be agood time to be on the outside looking in at the ASX at the moment.

I think PPX has th irony of the cheaper it is, the more it is a takeover target- we'll always need paper, despite computers. The cheaper it gets, though, the harder it is for holders. There must be rulers galore looking at this one now. I don't say that for all distressed companies, but this one has a strong NTA and not too much debt. It's just a tough industry. At some point, there has to be a bottom for PPX. Hope it's here already.

Disc: PXUPA, but no PPX