I got out of MRA at 72c after getting in at 77c. Took the...

I got out of MRA at 72c after getting in at 77c. Took the capital loss. The next 6 months retail and sub-prime in the US is going to be ugly and there is no impetous for the likes of MRA to go much above 70c.

The buyback announced by Mariner is pointless in this environment, just look at the Rubicon property trusts which have a 10% buyback compared with Mariner's 5% - all the Rubicon trusts are substantially lower now than when the buyback was announced.

I'll be watching MRA to see if things change but as it stands, the potential for downside is substantially more than the potential for upside.