Ann: Challenger Strategic Review , page-9

Good post ML173,I was thinking exactly the same thing, with equity around $480 million after the write down.

With Chatree doing really well and Challenger likely to become cash positive in the next few month is very encouraging, as it has been dragging Kingsgate down like a ball and chain.

Kingsgate is overall cash positive (as stated by CEO recently) and is even considering acquisition opportunities in the current market.

With current share price of $1.26, it is almost trading at a third of its book value (that's after the write down).

This is a no brainer. Probably the best entry level you will ever see.

I bought again at this level.

BUY BUY BUY BUY IMO.