very motivated, page-93

Hoots, thanks for the kind words and the development path document.

Happy to give you a brief summery of my process as I know little about TA.

Always known about CDU but not to any great detail, saw the letter to shareholders from WM and whilst I did not agree with all that was written it did resonate with me. I think I understand where he is coming from and where he is going with this project. I looked into CDU a little further and my first comment on this thread whilst no stock held was how it reminded me of TLS when the future fund was reducing their position, what a gift. I was happily snapping that up at $2.60 odd while even one of my family members was telling me how much of a dog it was. Obviously he had been a T1, T2 and T3 and whatever participant and held which I had not.

I wanted to wait until M&G had finished but then decided some exposure was appropriate just in case they were not departing completely. My initial toe in the water and highest price paid is $1.65, the day after the M&G XT I waited to see if the shorters would appear after the predictable rise on open as I am aware of the amount of shorts outstanding. I got lucky with that approach then came in for the majority of current holding at $1.52 with a $1.49 last purchase. I'm comfortable with my average price to date.

Time will tell but my belief is even a worst case is double the investment on a T/O, but I would prefer the 60 -80 cent dividend in a few years time which I would bottom draw to receive a 40-50% ROI.

At the same time if it goes pear shaped as you mentioned it will not be the first time I've dropped a couple of hundred grand, and doubt it will be the last. As long as the ledger remains in the positive across the portfolios I will continue with this type of strategy. 20 years to retirement and counting so I am still risk tolerant.