Ann: 2023 Full-Year Financial Results Analyst Presentation, page-32

Mars has answered well, it's the divergent expectations for the business that drive the extreme volatility.

If I recall 2022 was pretty bad for the US but good for platinum's funds, we've had a rally in US ETFs this year then the higher staff expenses at PTM soured people's attitudes while the news of more redemptions didn't help.

I personally agree with PTM's latest presentation and positioning but yes any guess to what happens in future is just a guess.

A spike in share price is possible with out performance but alternatively volatility in markets could drive PTM share price lower if we see widespread panic.

The market sees a business in run-off with declining AUM but not a terminal decline, expectations could certainly get worse causing the price to drop further.

If you buy something for a bounce without conviction then you are likely to get shaken out if things get worse. If things get worse and you hang on then you can equally lose a motza.

Everything with investing is perilous even in good times there's often underpriced terminal risk in various businesses. The terminal risk exists in PTM I just personally think its overstated.

I know you want a yes or no answer, the answer is DYOR. It may be a smart punt, slightly better than the casino or horse races don't come bleating to me if you lose money.

I think all the comments are fine, bull, bear, trader I learn a bit and it's kinda amusing.