The sell down by a major institution is not an encouraging omen...

The sell down by a major institution is not an encouraging omen for me. It suggests that maybe professional investors are losing faith in these people.

Looking back at their history, their investments often make sense on one level, but yet go wrong on another.

Getting into bed with a major child care centre manager like ABC Learning surely made sense for a toy distributor, but with hindsight one wonders at the skills of their credit manager.

Buying a company like Madman, distributing films, surely made sense for a distributor of film merchandise. But the timing is questionable, buying a film rights company in the decade when file-sharing was becoming mainstream, and was already well discussed in the media.

And now Chill Factor. Sure, it's a clever product, but is it just another example of over-priced intellectual property?