Loading up the truck, page-3003

I don't have enough information to value the debt. The fact debt is about $800m and equity market cap <$100m, implies that the debt is worth <<100c in $1. Maybe it would trade for 60c in dollar - often happens this kind situation.

People buy the shares as speculation that somehow the situation for equity holders is going to improve somehow. Highly indebted situations like this a re high risk / high return for equity: could suddenly or gradually fizzle out or could bounce back. It's a very common market situation.

How much money I make is irrelevant to you, so let's discuss the company. You're welcome to doubt I make money and I'm not going to post financial statements on HC.

There has actually been a lot of material news announced and otherwise published since I have posted on SGH. The big news of course was Quindell write down. I called chapter on verse on the whys and size of that well before it happened, even down to little detail like case problems resolution rates NIHL. I was told by almost everybody on HC one way or another I would get egg my face, and look what happened instead. If you think that's lucky, you're welcome to think that.

I'll give you a general tip though, HC is not a great place to post serious "sell/short" sentiments because there's so much flaming/baiting personal attack that follows non-stop. There's some bulls here who appreciate discussion and engage, even though maybe disagree (you are one who actually does discuss) but they're in small minority. The stock I mentioned post above as a "buy/long", I have posted quite lot of thinking on over a year. If interested, you're welcome look at that to get idea the way my mind works and depth of research.

I actually did take time to wade through WE's posts trying to find the point in there somewhere, and even went to trouble to point out some mistakes he's made. His contribution is interesting. I respect he's having go at making a serious contribution.

I have to confess that I've mostly stopped reading your posts because you say the same thing hundreds of times, and you repeat the same errors, even when they're pointed out in black/white. I like your sense humour that occasionally comes through though.