Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-63

Great interview but.....

FDV is just on my watchlist so I am a very casual observer of the stock. Some may correct me here but isn't Zameen (and Pakwheels to a lesser extent) quite a significant holding for FDV or at the very least, quite a large driver of profit? It has been quite some time since I have checked in on this stock and I remember that if it weren't for the financial mess that Pakistan were in at the time, I would have bough FDV. Therefore, if I am correct in this assumption, I am really surprised that this issue wasn't broached in the interview. When asked about why the stock had declined, he spoke about the inflationary environment and the usual decline of smaller cap/growth stock companies being unfairly punished, but wouldn't the uncertainty in Pakistan and Zaheem warrant a mention????

Again, I am sorry if I am wrong, but I looked at this stock last year and tried hard to look into some of their portfolio and the Pakistan uncertainty and Zameen (and Pakwheels) were a real sticking point for me. I would have liked it to have been a focus in this interview at the very least or it most certainly deserved attention???