the $900mil writedown surely confirms now that the AFR was...

the $900mil writedown surely confirms now that the AFR was wrong. they implied DBCT would sell $600mil above book. if thats the case and we write down $900mil+600mil, there are $1.5bil of writedowns exluding DBCT.

this news is expected and confirms the original 4th sep announcement. the profit for the csi isnt in buying BBI but in buying assets below book.

their is no reason to buy assets and 90% of BBI. a smaller stake perhaps but not 90%

im short too now.