graham's "orbis vs paperlynx", page-2

I also bought a small holding in PXU a few weeks back despite my core holding being PPX.

The reason was not because I want ppx to recommence distributions it was purely because I felt there was a chance there share price would recover from $17 back towards the indicative price that the PE has come in with .

PPX i believe will do the same and unfortunately for me as a holder of both I dont think I will see the price I see as being their realtive values , because all the infighting and the like is just playing in to the hands of predators

If the company goers in to admin , you dont think the pe firms will go straight to the administrator and steal the company , AND pxu AND ppx will at best get 9c and $22 , when a share swap of 100 to 200 ppx for pxu would reward
all parties in the medium term much more than current proposals , or worse still the current market prices

Doesnt matter what I think, graham thinks or orbis think at the moment PPX are worth around 7c and PXU $18 , because that what the buyers are bidding .

Nothing less nothing more .