New Directions, page-40

yensog

the commentary on QPP was 98% nonsense and included lots of falsehoods. One of the consequences is that Oz SGH shareholders havent got hold of the fact that SGH did get QPP PSD at a bargain price and GO reforms apart does seem set to dominate the quasi legal motor claims and medco insurance claims business in the UK. Most companies would give their eye teeth to dominate a segment of a market. OZ SGH shareholders and comentators dont seem to understand what they got. In my opinion it is a very very good , if dull, business. Future is good.

Debt mountain is jaw dropping until you fully take into account the roadmap to below $500M debt....when it is then clearly affordable and can be amortised in a 5 year period.

I like the fact that the sp is now 0.45 future expected EPS> lets repeat that

SP IS 0.45 of prospective earnings per share.

it is in my view an opportunity which seldom floats past my nose. Amazing.

Mel