re: Ann: Further details concerning AETD Asse... I agree it is a...

re: Ann: Further details concerning AETD Asse... I agree it is a sham and a shameful act performed on the BBI's due mostly to Pies in Sky financial forecasting and mismanagement. I would never believe a report that was bought from professional fags either.

ASIC will not get a prosecution on the insider trading as we had pointed out a week ago, that is what senior debt do with privileged information.

The let downs that most strike me are the lack of RBS offer disclosure in April and the charade annual report presentation with the ABN Amro questions being deferred to privacy, while BAM were holding the marionette strings from the sidelines since June !!!.

The relative valuations in liquidation really took over at that point, as the banks pointed out clearly enough. Book value ratios could not apply any more, cash flow rules and there ain't nearly enough of it to pay capital according to the schedule. That is when this poker game got serious and the day traders totally muffed it.

The financial ratios and debt schedules cue which brought on the organised short trading this time last year was the alarm bell, that and the institution exodus and recently Norges Bank departure were all clear signs that BBI was a very high risk investment.

There was an insider prosecution for that short trading, because they were outside the established system and used organisation to achieve the effect. The prosecution case rested on the use of organisation, not on the use of the financial information which was public knowledge. Even though it was proved to be organised, there was only one individual prosecuted !

The question remains, why was the price high enough to tumble so far, if the financial debt knowledge was publicly available to start with? Was it that everyone was lulled by the bubble ? We are back in bubble territory atm in my view, last time we were at reality was July. What that shows is investors appetite for risk.

This whole GFC has taught me a lot about the need for investments to be manageable and managed and also about capital protection strategies that largely did not need to be applied from late 1987 until 2007.

It also taught me what companies think of their shareholders once the money has been handed over for the original share. No wonder banks prefer debt to equity, which unfortunately, is why the RBS offer failed.

ifandwhen

holding beppas