A sell rating in Sunday's herald sun, page-183

Here they just sell mutton dressed up as lamb... because they think everyone is stupid.
You can flog all you want in a low rate environment... nothing blows up till rates correct...which they are now...many of the worlds savviest investors are cashing out frantically now.

I saw a company the other day, when I was over in the US... design-tech business ( apparently that's a new thing) ... raised $20m a $100m I think series A... based on the same PAAS 10x forward rev model... 3 years later, it does $100k revenue, they have burnt through 60-70% of the cash - they still think they are worth $100m plus and are looking for suckers to buy, who have revenue streams to pay for their overheads, but will take a small cash pay out and minority stake in their business in return... As you said, there is much more money and opportunity over there, so even big sophisticated names invest 50% of their cash in donkeys, because their 1 or 2 wins have netted them billions... the cash is definitely starting to run dry though now...and rising rates is definitely sending people into panic.... We have had a nice run of "low gravity"... everyone begins thinks they can fly... unfortunately when gravity kicks back in, and your floating up by the clouds, things tend to come down pretty hard.