Not being a holder of IAS, but being a bit of a contrarian...

Not being a holder of IAS, but being a bit of a contrarian follower of Goblin, who predicted at 60 cents that IAS was about to collpase and stand clear, I began following.


IAS has falled 50 % since it was revealed the crooked Commenwaelth bank manager used IAS to bet and also due to the fact they didnt make any money last term.

The important thing is that IAS had $257 million in wagering turnover last 6 months, but made NOTHING on those bets. Oh that turnover grew by 25 %.

My reasoning was, lets say IAS began making abit of money on their bets ( as they should as the house), if they made just 2.5% this will change the result by $76 milllion in their favour. Traditionally, IAS has made this sort of margin.

As IAS only has a share valuation of $30 million, so if they can do this then IAS will all of a sudden seem very cheap. Maybe that explains the bounce.

Im not sugegstign IAS is a buy, I have no opinion just yet, but by the action recently, since Goblins posts, it does seem someone been keen to get a position.