Captital Raising, page-39

It seems many are missing the point. In particular you. If your going to make a statement like that, then your statement lets me know that you don't understand the mechanism of investing. The simple fact is, the more shares issued, the less profits there are to share per share, this devalues each share both short and long term. Growth cannot outperform the devaluation caused by the issuance of new shares, because now all future profits will be shared with more shareholders. This means existing shares are worth less, because in future they won't get the same share in profit they would have received (no matter what the growth), had there not been more shares issued. Now all profits will be shared with more shareholders. How is this not black and white! Yes, I can buy more shares at a discounted rate, and sell off, or hold and average down, get franking credits and divs etc, but that is not the issue I'm talking about, the facts still remain, that each EXISTING share that is held, is now worth less in future, because it is going to earn less than it would have because now it gets a smaller piece of the profit pie because the pie has to be cut into more pieces. This is my point!! You have yours and I have mine as a long-term investor. I'll leave it at that thanks.