I've watched the first part and I think he has some valid points.
Overall I think the takeover of PNA is another example of Australian shareholders and institutions failing to back good quality resource companies in the last few years. The market was more interested in buying CBA shares at $90 for dividends (and subsequently watching their dividend return wiped out by a 10% fall in their capital).
If more shareholders had a longer time horizon and were prepared to buy at low prices the claimed manipulation through short selling etc would not be possible. The Chinese of course know this and exploit it to their advantage (it's particularly easy when you also have a 23% stake).
PNA Price at posting:
$1.84 Sentiment: None Disclosure: Not Held
