Ann: Resignation of CEO and Managing Director, page-4

I always find it surprising how much the market reacts to a resignation of key personnel. You see it all the time. According to the market ebet is now worth 9% less today than it was yesterday because one person resigned. apparently there is nobody else in the world who can do the job he was doing, so 9% of customers will cancel their contracts and the future growth will be 9% less than it would have been yesterday. Tony toohey who has been there for a long long time will have no idea how to get stuff done and will have no idea how to find a suitable replacement.

mr market is irrational and moody and this is an example of that. It's pretty annoying though as it makes my portfolio in commsec look awful today. Me feeling bad about that is also irrational.