How Does AFR Get Away With It!, page-4

I have read the Glaucus report and the AFR articles by Joe Aston. While the Glaucus report is by definition self serving, one could argue that the Shaw & Partners report is equally so. One of the principle issues that Joe & Glaucus are taking issue with is that opaque way that Blue Sky have been reporting their success. Joe's articles are less an investigative journalist piece and more of a gossipy-business column. And while you may say that he is being snide, I would argue that he is going for dry (and there is an argument as to his level of success), its just that when you are of a different view to the person making a dry comment, it appears snide.

If you look past all of the vested interests, all of the people betting against blue sky are basically saying that they have grown very quickly, there are real questions as to the real extent of that growth against the groups they compare themselves to and that they are reporting some very big numbers as the basis for that success (consistent 15% per annum returns after fees - would make it world leading).

I sold my Blue Sky stock this week.