OK,
Things are getting very heated on this thread.
As I have no money at risk, but many of you others do, I'm going to bow out and stop offering my opinion (which you all know by now is doom and gloom).
I don't want anyone to accuse me of down-ramping this thing out of spite, or exacerbating anyone's losses.
I have held a consistent line on this stock since I first started posting regarding RHG. I don't have any particular axe to grind against the company - it's just that I understand what they've done and I know what has and is happening to other non-bank lenders around the world which have done similar things.
I wouldn't buy the thing with my last dollar. That's the reason why it frustrates me, when I tell you what I believe the situation to be, but many of you still go off and say, "OK, now, how many hundreds of millions do you think it's really worth? Hmm...think I might buy some shares."
You can all speculate about its value as much as you want, but for goodness sake, unless you're an absolute gun trader, what are you doing putting your hard-earned into a company which is teetering on the brink?
Anyway, I've pontificated enough and if you want to hold, or buy some more, be it on your own heads. Just don't blame John Kinghorn, Merrill Lynch or anyone else for investments you make after today. It's your own faults.
For those who haven't kept up, but want more detail on why I've been very bearish about this stock, you can read about it here:-
http://hotcopper.com.au/post_thread.asp?fid=1&tid=535623#2082335
http://hotcopper.com.au/post_thread.asp?fid=1&tid=524017#2029750
http://hotcopper.com.au/post_thread.asp?fid=1&tid=539394#2106300
Bye and I won't wish luck to those who continue to hold - IMO, you'll need nothing sort of a miracle!
Eeeeehhheeeaaaaa!!!!!! NFI!
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