accumulation, page-29

Defabstar,
Feb 2008 I posted on writedowns in CNP & heavily criticized but correct in finish.
August/Sept 2008 I posted on CNP dilution & heavily criticized but correct in finish.
I only mention dilution as a possiblity not a fact, but only a fool would ignore possiblity, remember posters on CER don't make these decisions it greed bankers.
If the bankers want a bigger slice of the pie, then dilution is on the cards at refinancing time, like it or not. Given the banks already have CNP what's to stop them from wanting more assets via CER, certainly not CNP directors who have already conceded with CNP.
Regards
Buffett
PS I hold my CER accepting this dilution factor as a risk I must weigh up.