Buffett would know the UK market that PSD is dealing in. The UK market is changing - alot due to with Quindell's behaviours. Many insurers are now taking claims inHouse. The UK Government has just increased insurance
premium tax by over 50%.
Looks a great sell by Quindell's new board/mgt. Questions need to be asked of SGH management why they didn't let Quindell go bust then buy PSD at much lower price. SGH mgt would of known through their "thorough" DD likely questions by the authorities.
There will be more negative news about Quindell for months to come.
SGH Price at posting:
$3.27 Sentiment: None Disclosure: Not Held
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