good pick up Sgoni. Not much in way of detail in article, just...

good pick up Sgoni. Not much in way of detail in article, just that if these companies survive, the yields are extraordinary

For example, internal rate of returns as margins over bank bills:

MXUPA 23% over bank bills, passing yield 18% per annum
PXUPA 23% over bank bills, passing yield 20% per annum
FCLPA 23% over bank bills, passing yield 19% per annum

I guess that makes sense as the price of each is around same at 28

opening para sums it up

"Among the hybrids where prices are now suggesting exceptionally high yields are property group Multiplex, industrial conglomerate Futuris and paper products group PaperlinX. In each of these companies the stock has been struggling, but the dynamics of hybrids operate in a very different manner and assuming the company continues to operate the returns are secure.

In each of the following cases prices have fallen to the extent that some hybrids are offering prospects for significant capital gains, with the advantage of double-digit yields and significantly lower risk that the corresponding ordinary equity."