jp morgan - remains overweight target $1.72 !, page-7

Hi Jaco,


You are on the button....this stock is all about patience at present. I have to agree the roller coaster share price of recent times is rather frustrating and 'hard evidence of the business' for the knockers. However what the knockers have once again failed to realise is that every day the TFC business model gets stronger and the underlying business more valuable. The underlying business is strong and end year results will be positive as already indicated by management Feb results. The performance of the share price is presently dislocated from the underlying business and this over hang has been round ever since wider MIS failures. One day soon however the dumb market will wake up and you are probably right...silent knockers.

I am a patient man...and I will be rewarded!

SD