open price estimate, page-3

You could be right hey Williamsg. Woddya reckon, we pack up and go home? Perhaps sell off the plant and equipment. Give Askot and Surda to someone else. Perhaps the assets aren't any good? How would you cut a valuation before you did to make sure you were right. There's some useful information to work with an cut back of the envelope valuations to now IMO.

Better still, for some of those stocks of yours that have been doing alright, are you comfortable that they've got the foundations to back the valuations up? Management talent. Assets. How are you valuing your stocks that have been doing well? How do you know they're not going to tank at some point on the first bit of bad news? Or, are you just riding with the market? Up, down, nothing for a while. I'd be wanting to know whether those stocks were going to hold up as much as I would want to know why IRL is staying down?

Re IRL. What's your entry point, exit point? Investment time horizon. They're all factors that help make an assessment as to whether something is a great return or not. So, I feel your pain if you invested for twelve months and didn't gut the rabbit and did seventy percent. I took a little longer perspective, even though I expected the stock to run much sooner. So, not so much pain. The returns will be assessed for me around mid to third quarter next year. Maybe you will be right. Time will tell.

In the meantime, I'll keep folowing the footy for a while. That's going alright.

See ya mate.

BUSH