dead cat bounce!, page-14

Jintao

I thought I was confused, I have done tons of reaserach
You said

I own GMG of course, bought at 47c, because they looked cheap, but with no research. I now think they are a dud, with all their equity wiped out, but as long as the banks don't put in the receivers, they have a chance. Looks like the UK economy could be recovering with all that money being pumped into the system. I read that disaster hedge funds are now closing, and new ones being established to invest in real estate.


Can you tell me how "all their equity is wiped out"

NTA = $1.05 SP = 16.0 cents Gearing = 41.2%

Allow a 50% drop in NTA, pay out the banks, is there still no equity or am I just insane to think like this??