New Premier Letter, page-41

Holy Sheep, there are a lot of alarm bells ringing here. Am brushing up on my Dick Smith history with Hotcopper DSE posts. Its like a tour through Pompeii

https://hotcopper.com.au/threads/time-to-buy-now.2625726/page-5#post-30101588

Chippy, I remember when we were making money trading this bt 0.80-1.40 two three years ago. MTS had tanked and recovered, and MYR had a capital raising and all was looking good. Now, things are looking so bleak. We don't have a manager, PMV is suspiciously meddling with the companies autonomy, the raised capital has been blown, and the balance sheet is 'creative accounting' 101. Assets are intangible - and sadly - all credited to us the shareholders (thanks TPG Equity and Umbers). If MYR disappeared tomorrow no one would care. 'Our' 3 billion in sales would ring through the tills of the countless other retailers, PMV included.

Im just acknowledging that this could get critically bad in a matter of weeks or months. I need to to cover my butt. The speed of this decline tells me there is something more to it. Looking at charts now, and we have broken down out of the channel in a very bad way. That long red candle on the monthly for Feb 2018 is the worst there has ever been, at about 30% drop for the month. May 2017 was almost as bad, and price never recovered after that.

Losing big money!