principles, page-10

re: principles and upside My holding is much larger and has been accumulated over 5 years. My accumulated holding was during the previous MD's reign, with thte recent change at the top bringing a change in company direction such as that we see today.

While I could sell today and make a profit, the annualised profit over 5 years would not beat 5% interest over that period. So, in essence I am behind therefore I do want to see an improved SP in the order of two/ three before I sell.

The theories behind CR's 100 mil entry are certainly credible. Taking this large position must be a calculated gamble. Is he happy with a 10% return on such a large holding or is 50-10% more his tune. This remains to be seen.

The other thought is GCR may represent a cheaper alternative for another business to get a listing on the ASX. Take over GCR at these low levels, sell off the assets, change the name and convert into something else. Take a look at CR and his shady friends (i.e. Farooq at Scarborough equities).

In the wash up I don't care anymore. Emotion has left the system and capital preservation/ profit realisation is now completely controlling my trigger finger. Before I believed in the story and was in for the long haul. No longer is this the case.

GC