from ashes of disaster grow roses of success

Forget the bloody charts.They are an historic record and tell you absolutely nothing certain about future performance.They just look great and can be made to fit any story you so wish to tell...retrospectively of course!

Now let's look at the facts:
1. Valad was front page news in Property Week dated 27/11/09. The headline.." Valad to win 344m Kenmore fund."
Here, Valad has been picked by Lloyds Bnaking Group and Revcap to take over the fund management role.This suggests that A./ Valad is alive and kicking. B./ Valad is likely to further benefit from its close relationship with Lloyds as further business arrangements that Lloyds has with other asset managers goes sour.None of this would be sanctioned without Lloyds doing a mega amount of due diligence on Valad in advance of it's appointment.

2. A successful AGM. No surprises. No further major write downs, no boardroom infidelities, just plain old focus on the bottom line and an oblique reference to dividends.

On my last posting I suggested that the year end SP is likely to be between 13c and 21c. I still stand by that.Even at 11c, that's still 3x it's year low.

The big advance, I believe, will be over the next 18 months,a lifetime away for day time traders,but as investors a sensible time horizon.
And if anyone from the Board reads this rubbish, a smart move would be to have a discounted rights issue again at 20c/share once the share price has hit 28 to 30c/share providing the company with further cash for opportunities as well as underpinning price advancement.

Merry Christmas and speak to you all in the New Year.