fat prophets nta and market overview

Interesting the reading the "fat prophets" fund called "fat fund", decrease by 8.63% and the asx fat fund benchmark asx 300 decrease by 11%......some relevant commentary in the jan 08 NTA release..........maybe the fat fund should invest in small cap explorers like gondwana with upside rather than comment distantly on the need for others to "Purge".
No over pricing in gda......FAT have a small miner on their books ( not yet gda). Some relevance regarding the markets general decline in the following quote from the asx FAT news tonight
....."The New Year Stocktake sale of shares turned into a noisy “Liquidation Special” as the less attractive
“inventory” which had been built up over the last four years was purged in an aggressive manner. The
destruction of some paper fortunes of shareholders in highly geared financial conglomerates was
reminiscent of October 1987, as available liquidity to such companies dried up dramatically. The ability
of the equity market to “vulture” such companies and then gleefully pick over the carcass has
undoubtedly been magnified and accelerated by short-selling capability; despite the shrieks of horror, all
this has done is create greater short term volatility, not compromised the inevitable fact that many of
these companies were ludicrously over-valued, lived off short term debt (at low margins) and sought to
capitalise asset sale profits at ludicrous multiples."

....end extract.