today says it all about SEA its had its day in Australia thanks...

today says it all about SEA

its had its day in Australia thanks to the BS Eric spun and the stupidity of young brokers with no idea and who are like little lap dogs licking his balls.

The question is why would a fund buy SEA? when you can get better rtns from beach, osh etc. The glory days are gone - even if oil stabilises over $60 this company is unlikely to ever go above 20c - one also has to remember what CR did and the dilution to shareholders.

The problem is that they will find it increasingly difficult to buy assets given their debt profile and increasing competition from larger players and as other assets deplete they will end up with a company worth about what it is today - the only way out is sale at NTA + 10% so lets sa around 16-18c.

Eric has to get off the merygoround but his to afraid to take a chance on another venture so he will ride this out till nothing is left - the guy still thinks he can get it back to a $1 which pretty much means he has been hitting the bottle to hard.

cheers - BTW i bought DCC @ 11c - which has brought the smile back to me from by sundance frown.