As I said: "Your MBL shares will be worth two thirds of FA if the MacPac have not tidied up their results to show steady current profits (Maynard Kenes would find it a challange)". You will note that the huge amounts of loss incurring paper - MAP shares...have not been brought to account. You will note that the reduction in fee/performance income from MIG has not been amortised. You will note that future income from new capital raisings for their various vehicles (which they will need) and which has accounted for a significant part of their income in recent years, has not been mentioned...and this income will play a great part in future earnings.NOT! The crunch will come! Perhaps not this time but it will come. And then possum we may speak again.
