I have sold most of my holdings....Alan Kohler re NAB raising, specifically said last night that NAB has lagged its peers (other banks) due to bad management. I have previously detailed my reasons why I think the same applies here.
Good luck - I think under this Chairman you may need it.
Pick out any of Q's postings in recent time - and see who is right or wrong here.
It doesn't have to be this way. Investors carried all the risk into what should have been company making announcements - we sweated out the announcements.....got it right and because of stupidity the SP is LOWER than prior to these 2 great announcements. Every other company waits for shareholder reaction to news (news which we waited 2 or 3 years for) - and then they raise.
Harvett sold his soul to winning the chatline argument, ahead of a desire for a higher SP and a balanced view on management decisions.
Its supposedly over subscribed - that is because the SP was 45 cents and "they" could buy shares for 40 cents. Now these incoming new shareholders, will look to get out for a stag profit. (Thats how all fundraisings' work for all companies)
Tax loss selling imminent and likely to go sub 40 cents - why would subscribe now.
KZA Price at posting:
42.0¢ Sentiment: None Disclosure: Held
