denial
thanks for fessing up to the fact that you have learned from past experience.. respect on that
however, imho, considering the complete lack of coverage from brokers in regard to IVR, it would be highly appreciated if the statements regarding a broker report could be backed up with some paper.. (even though i believe that you have quoted from such paper)
it would seem that Ord's estimate is 'net' IVR as well, which is of course fair enough, considering we are all throwing around 'gross' numbers.. and it would also make sense if Ord have trimmed their figures somewhat as a result of their concern at the ongoing complexity of the deposit... nothing wrong with that because they are responsible for client funds and don't want to overshoot..
at the end of the day, i'm comfortable with a reputable broker report that is obviously conservative and so it should be.. i see this as a strong 'worst case' if you like..
Denial, if it is not possible to post excerpts of the report, could you possibly enlighten us with Ord Minnett's recommendation?
ie. strong sell, sell, accumulate, spec buy, strong buy etc etc??
after all, your sentiment is 'short term sell'..
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