Well, Macquarie have put their mouth where their money is on...

Well, Macquarie have put their mouth where their money is on this one.

Since 17/12/07, they and their clients have net-sold almost 96m CNP shares, which equates to just over 11% of the company.

A cynic may ask why their research has been released to the media 3-4 months after they obviously came to their negative conclusions on the stock. We will never know, but it does look odd.

To be honest, we get to see so much research and it has such a diversity of thinking and predictions that I tend to only use it to work out if I have missed something. Remember that the latest research from JP Morgan, whose research I respect a lot more than Mac Bank, has a 12m target of $2.29 (from memory) on the share. (Just for the record, Swap & Co. Private Investments has a year-end target of around $1.45-50 for CNP)

I am trying to get hold of a copy of the Mac Bank research and if I can, I will post a summary.

Everyone is very jittery this late in the process and papers will be looking to find information that supports the down-side of a story on CNP, not the up, especially given Uncle has hinted that no extension will mean administration. As I said before, Uncle will want to under-promise and over-deliver on this one.

Always remember folks : bad news sells newspapers.

(Good job they haven't found asbestos at a Centro shopping centre - can you imagine the newspaper coverage that would get?)