focus valuation part 2 - acquisition, page-43

cheers ned

I don't mean to be negative - just analytical

So you too got burnt in the old OXR ZFX debacle - I'm also seeing a repeat in the IGO JML play right now

Don't think too many people are aware just how much practises become "culture" and then entrenched culture. Very hard to shift.

I'm simply looking at FML running one incredibly efficient team where every person slots in the right spot and keeps all the gears running smooth: result a positive operation that is exciting and cash-flow positive.

Not the picture I get from CRE (won't even mention certain insurance papers.........)

To merge such disparities is not an easy job - I certainly wouldn't want it on that scale.

We are also talking considerable physical separation which does not help the process.

Look forward to each "clean sheet" analysis and how individuals come to their conclusion.

Best way of making up your own mind by testing others/own theories.

Paper is very patient - most people are not.