Ann: Ceasing to be a substantial holder from CBA, page-10

Market seems to have lost all faith in AFJ's ability to meet forecasts. Even though I expect they should (or at least go close) I sold out a few weeks back on the initial break down towards $1.20. At the moment it seems the market is not going to re-rate AFJ until the profit is in and dividends are paid.
On the watchlist for a re-entry but trend needs to change first