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I totally agree that the problem with PAN is the...

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217 Posts.

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15/12/23

13:23

Post #: 71470756
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Originally posted by Exised: ↑

I don't like picking up pennies on the train tracks. Your risk profile is obviously much different to mine.

I can't say PAN was not investment grade either. It did deteriorate into VA. The problem with PAN is the mis-representation. BOD and Management got desperate to a point where the FY guidance became a work of fiction. At which point I was happy to get out at a relatively small and manageable $23k loss to my $4.8m ASX portfolio.

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I totally agree that the problem with PAN is the mis-representation. We are all aware of that it is a high risk and high return play subject to the macro conditions and would only invest as much as one could afford to lose. However, going into VA only 2 months after a CR is something needs to be explained. Did they do a CR when they were fully aware of the high probability of VA?

PAN Price at posting: 3.5¢ Sentiment: None Disclosure: Held
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