What has me a little stumped, growler, is why the Warracknabeal mob became involved. Don't get me wrong, the Wimmera is God's own country, and produced Timmy Watson and Bob Menzies. And Mark Twain lectured in Horsham. True.
I can understand SG Hiscock having a punt in that particular fund. If they threw enough darts, one might be a winner, and perhaps other investments have compensated. The overall market would not have helped, as would fund withdrawals where they needed to liquidate.
ASPEC have a shocking track record. Ref: their website.
Pinnacle have made money on underwriting and getting out at the right price.
The turf accountants might have other motives, maybe tax considerations. Not for me to speculate.
Ostergaard has shuffled his holding over the years, but his net position has been diluted severely. At the peak his holding was worth 30 big ones, but only briefly. Now a small multiple of his CEO remuneration.
Hollingworth has been in for years, and probably not a seller. But not a buyer.
So I get back to Warracknabeal. On paper the family is still on profits as far as I can tell. But why did they buy and take a placement in the first place ? Maybe a $500K punt is neither here or there. Broad acres there are going for $1000. So we're talking a couple of paddocks for merinos or barley. Easy come, easy go, and they can afford to be phlegmatic. Perhaps.
NOR Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
