Not willing to bet against some of you guys on this one and I have a modest position myself but after looking closer at it on the weekend the only thing that excites me is the low market cap. Everything else is a bit of a mess. Noble Oak has a $136 year history and has been touted as an IPO candidiate for several years but can't make a profit at the moment. GMY is a very subscale ADI. The likes of WBB can't even grow at the moment. So I rate those investments speculative at best.
As for the financial services businesses they look promising but history has shown it's very hard to tack a few together and do well. Look at PFG, it flew to $1 leading up to the GFC on mainly promises but now is just a poorly run mishmash of businesses. Harts (more accounting based) blew themselves up less than 2 years after listing. There have been plenty of other which failed to gain traction. Of the remaining listed players FID has been the most successful because the MD built it from the ground up and has only made small selective acquisitions along the way.
SEQ Price at posting:
0.3¢ Sentiment: None Disclosure: Held
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