can anyone qualified answer this question, page-5

it's still screaming BUY in my opinion, VPG was nearly wholly insto owned, they don't want it because it doesn't fit their profile of top 100 asx and not distributing dividends for 09.

Great buy for those with cash and willing to ride the storm out.

51c does not take into account the cash flow positive funds management business or any other framework in place. Most commercial VPG leases expire in 2011, debt till 2011 if covenants hold. If they can sell 17% as per their strategy this should give me of a buffer against debt covenants and the SP will charge back to 20c + within 12 months.

Once in a lifetime opportunity stuff here, my opinion only of course