entry price, page-13

I sold my holding on open on Monday morning ...at a bit under $65. I was heavily long on MBL and took a large hit. I see the loss could have been a lot more if I'd held until today.

P.70 Fin Review today (Friday 21/7) gave a summary of the AGM.

I did not like to read this "For the first time the bank admitted that the need to comply with prudential regulatory requirements had played a role in the May capital raising. It flagged a restructuring that will remove some of its activities from the oversight of the prudential regulator "

Also "Mr Moss said that some assets might not be sold by the October deadline" ..."He expressed disappointemnt in the underperformance of the bank's suite of infrastructure funds over the past 18 months and said there would not be much in the way of performance fees earned this year if relative performance stays at current levels"

Ealier in the week the Fin Review had back page commentary on the raft of broker recommendations over $80 and implied that these recommendations may have more to do with transactional fees that brokers might earn if they curried favour with MBL.

JB Were were one of the few brokers not so positive on the stock.

Ajax