Ann: Appendix 3B, page-14

Mate no offence but your view is really twisted. We need to thank DC for low sp?
This is not a correct interpretation.

Good management creates value for patient investors.

Mis management sometimes but not all the times creates opportunities for the speculators.

Long term investors should hate DC for lost opportunuty and money.

Short term speculators should thank DC for the opportunity if they know how to explore it and if and only if the future shows that this is an opportunity not a trap.

Example : I took position in BAL 2ooo shares at #12.20 as a long term investment.

Management screwed up and they dropped to below $4. I switched to a short term speculator and bought 6000 more for $4.

Then sold the lot @ $22.