Harsh, but mostly right.If BLA had clipped less of the ticket...

Harsh, but mostly right.

If BLA had clipped less of the ticket each time, and not inflated asset values to book false profits (pun intended), then as an more reasonably sized alternative asset manager the company could have had some value. Wild guess at $1 say (find a number based on AUM/fair fees and shareholder profit left after paying management/staff and fair valuations) The shorting and scandal meant that all credibiliity was shattered, so this number became zero. Cash burn > fair fees, zero growth, finally zero value. I think it would make an interesting Four Corners or doco.