copy of reply to my query to afg of today, page-26

Hello MJS,
In answer to your points.
1)I don't feel the need to rationalise my positions and seek confirmation from others who do the same. I simply get very annoyed by chartists who trade small,illiquid stocks. They are a nuisance and it is a form of therapy to take the piss out of them.
2)Guilty as charged.I realise in AFG I am dealing with people more sophisticated than dipsticks who buy a stock at 44c and then sell it (at any price) just because someone sells $2000.00 worth of stock at 40c.
O.k heres my point... Macquarie borrowed a model that was first developed by Dick Dusseldorf at Lend Lease and perfected by Frank Lowy. These guys had expertise running the asset not just raising funds. Cheap credit and rising asset prices made the Macquarie version of the model easy but those conditions are over.
Allco is just a pale copy of Macquarie which itself is just a pale version of Westfield.
Have a look at the last Allco annual report. How many related party transactions? How many details have been released on those transactions? If the Rubicon deal is relatively transparent then waht must the deals been kept quiet look like?
These companies look to me like polished versions of the Bond Corps and Quintex's of the 80's.If you hold them good luck.
Just my opinion.
p.s:If lack of intelligence is defined by having an opinion different to yours then once again guilty as charged.
pps:I would welcome any critique of stocks I own more than hearing confirmation of my own views.Have a look