dargie - thanks, page-7

Thanks for your considered response, I really appreciate the well considered negative posts.

Just on a couple of your points..

Are you aware that BBI has sold a part of a couple of assets in the past few months above book? (Powerco and Euroports). I am sure that if BBI was _forced_ to sell, the situation would be different, but at the moment they are prudently holding onto cash to help avoid that possibility.

I choose to not be swayed too much by negative arguments that rely on cooked books or hidden information - conspiracy thinking. I am willing to take a risk in my investment decisions that the company I am investing in is basically honest (unless I see someone like Eddie Groves/Alan Bond/Skasey at the helm). I think you will miss out on too many good investment possibilities if you are unwilling to trust what you see to a large extent. The bad ones you avoid won't make up for it.

So, I would put more faith in a negative argument that said something like "the assets won't be worth as much due to a falling revenue stream" rather than an argument that says "they paid too much and cooked their books to cover it". I might get burned, but I think on average I will come out ahead.